Do you really need mentors? Business plan belongs to you, idea belongs to you, you know how to get this done? Your co-founder knows the technology; you have done market analysis. And you are confident of getting this scaled up.
Then, why you need mentors? Or advisers?
This is because, they’ve been there, done that and have seen it all.
While there could be arguments that why entrepreneurs do not need mentors and rather follow their own instincts and gut feelings, most successful tech titans have founders who had mentors. Facebook’s Mark Zuckerberg was mentored by Steve Jobs. Jobs was mentored by Mike Markkula — an early investor and executive at Apple. And Eric Schmidt mentored Larry Page and Sergey Brin of Google.
Here is why I think start-ups need mentors in their journey:
- Valuable Experience
Experience is a very expensive asset and is extremely important for startup success. Mentors bring in that valuable experience which can enhance the founder’s thought process.
2. You are more likely to succeed with mentor:
Your chances of success in life and in business can be amplified by having the right mentor. The valuable connections, timely advice, occasional checks — together with the spiritual and moral guidance you will gain from having a mentor — will literarily leapfrog you to success.
3. Network Opportunities:
A successful mentor has an unlimited network of people who can benefit your career. Since they are already invested in your success, it only makes sense for them to let you tap into their network of people when the need arises.
4. Mentor can give you reassurance:
It has been proven by research that a quality mentorship has a powerful positive effect on young entrepreneurs. Having someone who practically guides you and shares your worries with you — often placating your fears with their years of experience — keeps you reassured that you’ll be successful.
5. Mentor will help you build a stronger EQ:
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.
Enduring the consequences of failure on your own can set you back and impact your productivity. In hard times, having a mentor will help you keep your head high. Young entrepreneurs often deal with depression when they are unable to meet their goals and expectations. The impact of depression on entrepreneurs is often under reported. But entrepreneurs without mentors bear the brunt the most.