Mentorship is one of the many resources which entrepreneurs should get access to. But how important is mentorship and why should entrepreneurs seek out mentors?
Take Mark Zuckerberg for example. Steve Jobs mentored Zuckerberg throughout the earliest stages of Facebook. Look at Bill Gates, who claims Warren Buffet is the “Oracle of Omaha” for his Sage-advice. These big-name entrepreneurs excelled largely from their own genius. But it’s important to note that good advice goes a long way. And where do we get good advice? That’s right, from mentors.
They've been there, done that and have seen it all, yet, a good number of entrepreneurs start their startups without one. In an age where instant gratification is glorified, it's unsurprising that many entrepreneurs and young founders do not seek out a mentor as hard as they try to find a co-founder.
As a founder, there's a tendency to assume that your grit and hard work are sufficient to drive the success of your startup. While these things can take you far, they're not a substitute for the experiential knowledge that comes from heading up an established company.
That's what makes mentors and advisors such a crucial part of the equation for startups. Surrounding yourself with the right people -- at the right time -- can be instrumental as you grow and begin to move toward long-term sustainability.
Often times, some of the best guidance you can receive does not come from a book but rather comes from the learned experiences of your mentors. In fact, in a study conducted by Sage, 93% of startups have admitted that mentorship is a highly beneficial component to success. Mentors provide exceptional support and advice and also provide access to a bigger network of successful people.
Another great aspect of connecting yourself with a mentor is the simple joy of receiving encouragement. It can be stressful and sometimes discouraging when launching a startup. But mentors are there to encourage you along the way and offer up support or new ways of handling challenges you face during your journey. Don’t be afraid to reach out when you’re feeling down or unsure, mentors are there to help you pick yourself up.
Feel free to chat any of our mentors on this platform.
What are your thoughts on having a mentor when launching and running a startup?
No. 10 https://medium.com/@vusispeaker/entrepreneurship-dos-and-donts-e92a37e79954
I like how the SA entrepreneur Vusi puts it. one needs Maps and Mirrors ‘mentors’. A Map is someone who has gone through similar business and a Mirror is someone you can discuss anything with, similar to talking to yourself on the mirror.
Nice post @Mona Musibega
@david mubasu Mentors are really helpful for startups and i feel like it should be right to find a mentor in you field, either someone on his/her way up but at a significant position up the ladder, or someone who has already made it.
The advantage in this is most of the things you are going to face in you field will be things they have faced and would be at a better position giving guidance on. I would be more comfortable with a mentor from my field of venture.
I agree! 💯
@Mona Musibega thanks for this article its so aptly on point. @david mubasu it reminds me a few years back when I was starting my business. I met people who made it possible for me to start and run www.massinspire.com One was in the same line of business while two played a role of connecting me to the market; they say your network equals your net worth. But even before that had happened, one of the mentors challenged me to transform my side hustle into a professional business and that is how I got to work with big brands. Steve Jobs said has a very profound experience
A mentoring relationship will grow organically through connections within your industry and network. A mentor does not do it for the money most of the time. Instead, they are driven by the satisfaction of helping another entrepreneur, paying it forward from a similar experience they had when starting their own business. I feel fortunate enough to have had this experience and am now in a position to return the favor to others that are just starting out.
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Indeed having a mentor is quite of the essence when starting up especially for guidance and connectivity. I would however like to know, what are some of the factors to consider when looking for a mentor and should a mentor necessary be someone who has greatly achieved or it can as well be someone still on his/her way up? Do they also have to necessarily be in your field of venture.
Mentorship is the key to successful entrepreneurship 93% of successful entrepreneurs admit @Mona Musibega
Brilliant post!
Interesting thanks for sharing