By Valrie Grant Entrepreneur, Managing Director, GeoTechVision
Last week I highlighted several major elements which are considered important to the generation of an entrepreneurial ecosystem. Among these was the benefit of mentors, coaches, advisors and support systems. This week we will focus on why every entrepreneur needs a good mentor and how the business community and corporate executives can assist in this way.
Mentors are one of the most valuable resources an entrepreneur should have access to. Starting your own business can be a daunting experience riddled with many unknowns where the likelihood of making mistakes are usually high. This journey can be stimulating and a lot less scary when you can tap into the learnings of other entrepreneurs especially local entrepreneurs who have already built successful businesses. An entrepreneur is not only able to share his/her struggles but also to learn from the experiences and honest feedback of trusted mentors thus avoiding many pitfalls. It is said nicely by businessman and author Zig Ziglar: “A lot of people have gone further than they thought they could because someone else thought they could.” In other words a good mentor will help you own your vision and accomplish your greatest dreams.
Most successful entrepreneurs will credit a mentor or mentors for having a role in their growth and development. Even some of the world’s most famous entrepreneurs have mentors, for example Mark Zuckerberg, CEO of Facebook often referenced Steve Job as his mentor. Bill Gates, founder of Microsoft credits part of his success to his mentor Warren Buffet. Richard Branson refers to the guidance his mentor Sir Freddie Laker gave that assisted him in getting Virgin Atlantic up and flying. All these successful entrepreneurs recognized that mentoring contributed to their success.
For young entrepreneurs the challenge usually is, how to do they find a mentor? A good starting point is thinking about the people you admire and persons who have qualities you desire to emulate in life and business and then trying to reach out to them. Usually an effective way is through networking, leveraging the relationships you have to see who is a good fit to assist you in your current situation. A mentor will not just appear, so entrepreneurs must be proactive in seeking a mentor. A good mentor is passionate, has a wealth of experience and should be someone whose insights you can trust. Additionally to get a good mentor you need to be a good mentee. So how is your attitude?
