BUSINESS MENTORING BENEFITS FOR ENTREPRENEURS
Business mentoring has many benefits for entrepreneurs and has gained traction over the past few years. Entrepreneurs go through a process from a Caterpillar to a Butterfly. The metamorphosis cycle can be tricky if they do no have some-one to hand-hold them. Some opt to use the internet to get answers to the many questions or challenges they are going through, some read books while others watch documentaries and movies. While these can be helpful on their own, they are more helpful alongside business mentoring. In a business mentoring relationship, a seasoned business owner meets with a new or potential business owner one-on-one to give advice and boost morale.
Here are 10 business mentoring benefits
1. Asking Questions and Getting Answers and Advice
One of the biggest benefit of having a business mentor is having someone you can ask questions and get advice. As a new business owner, you are likely to get more advice than you ask for from people like family members or friends. While some of their advice may be sound, your mentor can help you sort out which you should follow while advising you on more complicated business matters that your friends or family would as the business mentor is experienced in the industry.
2. A Different Perspective
Business mentors can help you look at problems and situations from perspectives that you would not have thought of on your own. An example, as a new business owner, you may have trouble looking at your business through the eyes of a customer or potential financier. Your business mentor, have dealt with this people before and can help you understand how your business will look to these individuals.
3. Improving Key Skills
Business mentors help you develop your individual business skills. For example, if your employees are constantly complaining that they don’t understand the vision and mission of the organization, your business mentor can work with you to help you improve how you communicate with your staff.
4. Venting With Someone You Trust
Owning a business can be stressful and frustrating. As a business owner you’ll often need to vent with someone you trust. Business owners cannot vent to their partners, employees or customers without causing instability in the structure of the business. However, once you vent to a mentor, you can often start the process of working with the mentor to solve the cause of your frustration. For example, if lazy employees are plaguing your business, you may need to vent to your mentor before you can think positively enough about the employees in order to develop a plan to motivate them.
5. Networking opportunities
Business mentors are usually more advanced in their entrepreneurship journeys, they can put you in touch with contacts who can help you make your business more successful. The more networking you do, the more people you meet. And the more people you meet, the greater the odds are that you will have someone in your circle who can help you solve business problems.
6. Business Strategies
Business mentors can help you create strategies and methods that you can use as a road map to your entrepreneurial journey. For example, mentors can help you learn strategies for observing employees to see if they are happy at work, dealing with irate customers or handling financial problems.
7. Long-Lasting Relationships
Although some mentor-mentee relationships are short-lived, if you hit it off with your mentor, you can foster a long-lasting relationship through which you and your mentor can continue to collaborate for the rest of your career. This will give you the consistency and resources you need to maintain a successful business, expand and be the Butterfly you are supposed to be.
8. Confidence and reassurance
Knowing that you have a credible mentor to turn to can give you confidence when facing difficult business situations. Similarly, good mentors will praise you when you have made good decisions. Praise can enable you to see yourself as a wise and experienced business person. Seeing yourself confidently this way will help you stand your ground when you must defend or stand your business decisions.
9. Learning from One Another
In a healthy business mentorship relationship, both the mentor and mentee learn from another. Business mentors also experience benefits thanks to collaborative learning. By helping others improve their business skills, business mentors may improve their own skills. They may be inspired with new ideas, meet new contacts and learn new business strategies from their mentees.
10. A mentor will help you develop stronger EQ.
Does maturity bring about a higher EQ in entrepreneurs? Emotional intelligence is crucial to entrepreneurial success. When a young entrepreneur has a more mature and successful mentor who advises them, they are likely to have greater control over their emotions.
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