Before discussing the topic it is must to understand the concept of Entrepreneurship. It is the formation or removal of value. It is true to say that entrepreneurship is observed as exchange, which comprises many values than the economic ones. An individual wants to go with all the business idea that enters the mind into action but it can’t be understood that all creative ideas are successful.
Now the significant role of a business mentor who has been there and done that plays an important role. He can be the knowledge source or guide to successful entrepreneurial journey. There are many factors that makes this need as a most essential requirement of an organization.
Experience: A business mentor will give you a decision or judgment on the basis of experience gained over the years working with different organizations. He must have used his strategies on a the same operational plan and successfully completed the tasks. A person’s personal experience can also be an inspiration at any phase of entrepreneurship and this is attainable only because of the able guidance of an mentor.
Network Opportunities: A mentor can help you enter the industry by connecting you to the wide network connections he built over the years. Also, he can help you in hiring people who are performing best in other organizations. An experienced business mentor can also support an organization in getting closer with the target audience.
Encouragement: Not all days are filled with rainbows, a business sees its ups and downs, but a business mentor is there to support you and encourage you during these tough times. A business mentor helps you pass uncertain times and prepares you till the time when the ship is ready to sail. This way individually and officially a mentor is of a great role.
Improvement and Control: It is important to have someone who can show the right path. An experienced and professional guide can give valuable feedback and can stop us from executing the wrong methods.
Trusted Advisors: It can be hard to know who to trust and that you can trust someone, especially with proprietary information or intellectual property. Hence, a mentor has no intent of giving any damage to the business and an organization can share or exchange all the essential and confidential informations and data with them too.
Stops from making mistakes: A mentor has been there, right where you are, and has made numerous mistakes that they can now use as a basis for helping others to skip the devastating effects of not knowing.
Successful: Most people who are successful today or who have sustained in long run business ventures have agreed to have a business mentor as their guiding source.
Handling responsibilities: As an entrepreneur, you have many departments to handle. The role of a mentor comes here as he will help you in handling these multiple roles and taking the right decision whenever required.
– Dr. Varun Gupta
(The author is an Educationist & Entrepreneur)