6 Reasons you need a Mentor for Startup Success
Business advisors, business trainers, business coaching, however you prefer to call them, are professionals that have years (sometimes decades) of experience in their field. Nevertheless, many people start their business career without one. I’ll tell why this might be one of the biggest mistakes you can make if you want to accelerate your startup growth and success. A mentor has, many times, seen it all, or almost all and definitively more than you, if you are a young entrepreneur. There is a trend today on instant gratification, we tend to forget that the road to success is long (and even longer if you don’t have the right guidance).
Many young entrepreneurs feel they don’t need a mentor “I will just follow my instincts, my gut feeling, that is why I will create something that no one else has thought about”. Don’t get me wrong, having your own vision on things is certainly good, and should not be discarded. The problem is that most of the time, the road to success takes you through many hard problems that take a lot of time and resources to solve, and that could turn out to be much easier if you’d had the proper mentorship.
Even the most successful entrepreneurs of our times, such as Mark Zuckerberg (from you know exactly which company) and Larry Page with Sergey Brin (from Google) had mentors. Mark Zuckerberg was mentored by Steve Jobs (great mentor), and Jobs was mentored by Mike Markkula. Why not unleash your potential by getting the experienced voice of a mentor to help you guide your path?
Many startup founders don’t start with a mentor and then realize that they would have been much better off having the knowledge of someone with years of experience doing exactly what they are trying to do.
In summary, TL;DR, mentors are really important.
1. Network Opportunities
You can meet people, from the circle of your mentor, that can boost your startup in ways that you could not have even imagined, or at least been able to do so. Take into consideration that investors trust startups that are recommended by their friends, and even more, if that friend is a successful mentor. Usually, mentors have a huge network of people who they can connect with you, from years in business and from mentoring itself. Take into consideration, as well, that mentors are invested in your success, so they will connect you with people that will help you when the need arises. This is something that you will not be able to tap into if you don’t have a mentor.
2. You will develop your Emotional Intelligence
Emotional intelligence is utmost importance in startup success (actually, success in general). When you have a mature mentor who advises you, it helps control overbearing emotions that might mean bad decision making in crucial times. It is common knowledge that mixing too many emotions with business is a sure way of making your business flunk, especially when these emotions blind you from making rational decisions. This kind of situation can be avoided, as your mentor will guide you on how to act in certain circumstances, or shine light on certain actions that you may be doing and are counterproductive.
It is known that Eric Schmidt worked with the inexperienced Larry Page on their early startup, acting as a mentor. It is also known that a young business owner usually makes the common mistake of making impactful decisions based on emotions. Having Erick Schmidt as a mentor helped Google overcome barriers by helping make logic-based decisions, with experience, rather than emotional judgments.
3. There is experience that is not shared in books
Experience is the professional’s strongest asset; intangible, yet the most crucial for business success. Even if you’d read all the books, there is certain information that is not there. Most authors don’t feel like sharing all their business secrets in a book, and some personal stories are just too intimate to be exposed. Those stories, of how the author overcomes the problems in their life, can help you significantly if you are a young entrepreneur. So: mentorship will provide you experience that you won’t find in any book.
4. Unbeatable motivation
Failure happens almost day-to-day on a startup and it can be discouraging for many entrepreneurs. If your motivation falters, your startup can be seriously afflicted. Having a mentor will help you endure the hardest of times: you’ll have someone that believes in you (and if he is very good, will tell you when to pull the plug from a project). Many young people get discouraged when they don’t meet their goals in a short time, but sometimes you have to keep focus on long-term results. A mentor will help you keep things into perspective, with experience of how business fluctuates and can give you the feedback you need to keep things going the way they should. Good mentors don’t just give you nice words, they guide you into success. This logical guides to:
5. You’ll have a higher success rate with a mentor
Having a mentor is incredibly important for success: 80 percent of CEOs (according to a survey done in 2013 about business coaching) have had mentors. Mentorship, evidence suggests, seems to be adamant to success: 93% of startups admit that mentorship is necessary for success (according to a study done by Sage). So, your chance of success in general, business and personal, will increase significantly if you have the right mentor. Seems that the moral and spiritual guidance of a mentor is almost necessary for mind-blowing success.
6. Mentors will keep you doing business for a longer time.
Most businesses fail. Not even half of the new businesses survive past the first year and even less, survive more than five. Having someone who will guide you, with experience, through the tough waters of new business, will have an impactful effect on you (and your business!). The effect of having someone to count on, who is experienced on the field and you can share your problems and successes, is sometimes elemental to keep you on a good track. You also need self-confidence for startup success, and mentors have the capacity to improve their mentees’ self-confidence, as they help show light on the right path. And this might be a lot more than you think: studies show self-confidence is more important than talent and competence.
If you are an entrepreneur, you want success in your startup, and still don’t have a mentor to guide you, go to https://getapy.com/catalogue and find the mentor that most suits you. We have a catalog with mentors, with many years of experience in all types of industries, who will guide you and help you reach startup success.