The thing many successful entrepreneurs have in common is a relationship with a mentor.
- Bill Gates was mentored by Warren Buffet,
- Mark Zuckerberg by Steve Jobs
- Steve Jobs by Bill Campbell.
So why is having a mentor is so important when it comes to growing your business?
The first years in business are challenging, especially for those starting a business for the first time. According to a study by Tilastokeskus, half of all new companies starting out have already shut down operations after just five years of being in business.
Start-ups end up going out of business because they haven?t fully considered customer demand or the feasibility of their business when they get started, according to Vesa Riihimäki, Head of Startup & Growth.
These companies often fail to make fast adjustments to their initial business.
Business models along the way, based on feedback from their first customers, and instead focus on developing the wrong things,?
Why should an entrepreneur get a mentor?
The situation isn?t as hopeless as it sounds. Around 92% of entrepreneurs report that mentoring has a positive impact on the growth and survival of their business. Just five meetings with a mentor have been shown to have a considerable impact on improving growth potential.
According to Riihimäki, there are three clear reasons why every entrepreneur needs a mentor:
You get access to know-how
Imagine hiring ten of the world?s best talents whose areas of expertise match perfectly with the challenges and opportunities your company is dealing with. Then imagine an alternative situation where you would have ten of the world?s best mentors readily at hand to advise and coach you when those challenges and opportunities arise. Which option would you consider more affordable, effective and flexible?
You get an external perspective to support decision-making
A mentor should be the type of person who can maintain a suitable distance from your company. An outsider will more easily be able to see pain points, as well as new opportunities and areas with room for improvement. You and your team might not always be able to spot the things that a mentor can help You get to expand your network
A good mentor typically has an excellent network. This means that when you find a mentor, you?ll likely get to expand your own network as well. A mentor can help you find new sparring partners and contacts who can help your business to grow or connect you with relevant partners and service providers.
The main point of a mentor is to boost the most valuable thing in life, "yes more than money!"
that's TIME!
Imagine your business Mentor spent their entire life in Entrepreneurship and you have just started out. Just think of how fast he can grow your business,
You want a mentor who can share with you his skills, contacts, and knowledge to name a few attributes.
To get this type of Entrepreneur, please visit Disabled Entrepreneur business mentoring to find more information on the different types of mentorship packages offered, please click.