When I used to be studying the latest Startup Genome Report, I noticed that Silicon Valley has once more come out on high as the very best startup eco-system on the earth. When I used to be going by way of the parameters that made Silicon Valley the very best, I observed an essential truth. Silicon Valley has the most important variety of mentors and serial entrepreneurs versus different startup eco-programs globally.
Which brings me to the dialogue of the necessity for mentors for an entrepreneur.
The phrase “Mentor” is misunderstood phrase within the context of our lives. Who is a mentor and what does a mentor do? Why do we’d like a mentor? Can we do and not using a mentor? Is it a should-have?
Oxford Dictionary defines mentor as “An Experienced and Trusted Adviser”.
Since occasions immemorial, each profitable chief had a mentor. In household owned enterprise, mentors had been normally one’s father or uncle or some trusted particular person related to the nicely-being of the household. Famous politicians had mentors. Emperors had mentors.
The time period “Mentor” has been age-outdated.
In at present’s context of entrepreneurship, the time period mentor has taken are extra holistic that means however its ethos nonetheless stay the identical.
So why ought to an Entrepreneur have a mentor:
1. Entrepreneurship is a lonely journey – Whether you have got pals, you have got a life associate, your girlfriend/boyfriend, the trail of entrepreneurship nonetheless appears very lonely. And none of your “social” and “personal” circle can perceive this loneliness that you’ve got. Having a mentor makes it simpler to speak to somebody and ease your path slightly bit extra
2. Have somebody to report back to – In entrepreneurship, you might be your personal boss. You should outline your personal metrics and persist with them.You have solely your self to reply to. Yes, buyer is the last word particular person to whom you might be answerable, however except you persist with the metrics you have got outlined for your self, there can be no prospects. Having a mentor lets you be extra accountable
3. You combat quite a few private battles – Entrepreneurship is as a lot about exterior conditions, as a lot as it’s inside. In truth I’d say, entrepreneurship is extra an inside battle than an exterior. You can be going by way of big selection of feelings which none can perceive. Having a mentor makes it simpler to win these private battles
4. You are sometimes clueless – There can be occasions, when you’ll be clueless as to what try to be doing subsequent. Whether you need to construct “this” function or “that” function, whether or not you need to change your advertising and marketing technique or whether or not you need to goal a special buyer section. An skilled mentor may also help you and information you into the suitable path.
5. Contacts – An skilled mentor brings with him/her a wealth of contacts. These contacts are what is required usually to provide the break that you might want to develop.
How ought to you choose a mentor?
You ought to take your time to pick a mentor. Some of the issues you need to look for are:
1. Do you share an excellent camaraderie with the mentor
2. Are you snug being your self with the mentor
3. Is the mentor reputed in his/her area
4. Whether the mentor is supplying you with recommendation that you simply really feel are worthwhile to your progress
5. Is the mentor very trustworthy in his affiliation
6. Whether the mentor has any conflicting curiosity working with you.
7. What does the mentor convey to the desk which you’ll by no means do it by your self
How do you have to have interaction with a mentor?
Take time to seek out the suitable mentor. Mentorship just isn’t a “profession”. It is about somebody giving his/her time for you as a result of he/she genuinely believes in you and your imaginative and prescient. When you discuss to individuals, you’ll know who’re genuinely eager about you and who should not. Have a number of conversations. Meet with them, take them out for drinks, focus on about your online business. Listen to what they should say. The extra you pay attention, the higher can be your understanding of a mentor.
Never work on retainer payment mannequin upfront. Gauge one another’s qualities earlier than moving into formal enterprise settlement. When you see worth in somebody, you’ll want to retain that particular person. So wait until you get that worth.
Is your mentor your saviour?
No, by no means. And do not anticipate him/her to be your saviour. You are accountable for your personal enterprise. So man up and take accountability for your actions. A Mentor is somebody who brings in his/her expertise that can assist you. But he/she just isn’t god. To Err is human.
How do you discover such mentors?
You can discover the very best mentor in somebody from your loved ones. But likelihood is lesser that your mom or father will at all times provide you with a impartial view-level of you and your online business. So normally somebody who just isn’t associated to you works higher, except after all you personal a household enterprise.
Find individuals in the identical business as yours, who’ve been profitable. Attend and community at occasions. Get related to the very best and probably the most onerous-working individuals within the enterprise world. The greatest mentors are sometimes the quietest and probably the most low profile ones. So take time to seek out them.