The general perception about entrepreneurs is - they are individuals toiling away at their desks to create new products by "themselves", but seldom are the most successful businessmen, individual contributors or hustling singled-handed go-getters. The most common practice of business professionals who are new to the game or veterans like serial entrepreneurs spend a significant amount of time bouncing ideas off of colleagues, teammates, friends and family members.
More times than not, sustainable businesses are created by motivated and educated people that gain these traits through experience. This is where the mentors come in, whose insights help in impacting business practices, ethics and, eventually business success. They have lived through the journey and learning from their mistakes and successes, can impart some of the valuable lessons they have accumulated over the years.
a) Knowledge: A mentor who has been in the industry for a while or are ideologically congruent to how you envisage to run your own enterprise can help with the business plans, budgeting tactics and even the day-to-day operations.
b) Objectivity: Mentors can give you an honest review of areas in your business that need improvement, as well as point out the areas that are doing well. So you need a mentor who is honest with you and who knows how to offer constructive criticism.
c) Discipline: A business mentor on the trek ensures accountability in goals and re-circling to check-in how well are we aligned or digressed in the process. A strong work ethic and a drive to succeed can make or break an entrepreneur.
d) Network: Although knowledge plays a significant factor in the success of a business, networking is a critical element and spoke of the wheel that lets the business roll on smoothly. Mentors often introduce you to their own professional networks, expanding your connections and opening doors to collaborations, partnerships, investments as well as help specify your target audience. “It’s not what you know, it’s who you know."
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