The benefits of mentoring are numerous. Whether you are the mentor or the mentee, there are many advantages to this relationship. Mentoring allows both parties to grow in areas they may not have thought they could develop in, whilst nurturing their ability to learn and grow. It is a mutually beneficial relationship that can be highly rewarding for both parties if certain principles are adhered to.
Mentoring, in most cases, is a give-and-take relationship that allows one to gain valuable knowledge and insights from individuals who have experienced different aspects of our field. Whether they are direct mentors or indirect mentors, they help one grow and learn how to handle real-life situations by giving one various option or alternative ways of dealing with them.
Whether you’re a new business owner or an experienced veteran, mentoring can be one of the best ways to grow your business and improve your life. However, there is a stigma around mentoring that people think costs money or only involves the rich helping the rich get richer. In reality, that couldn’t be further from the truth.
When someone joins a mentorship program, they are usually seeking professional guidance, but what are the real benefits of being mentored? It is easy to point out why someone should be mentored, but it is much more difficult to determine what the person goes on to gain.
Benefits of mentoring for Startups
1. Motivation & inspiration
You need motivation sometimes in order to succeed in life or business. Having someone that you look up to and admire will boost your morale. It will make you want to strive for their approval and do your best at all times.
As entrepreneurs ourselves, we know how hard it can be to keep your spirits up when things aren’t going well. Having someone to confide in who is outside your everyday business circle can make a big difference when you’re feeling discouraged or overwhelmed by challenges.
Your mentor may be able to teach you things that will help you succeed in your own career, such as how he or she handled certain problems or how he or she rose up in the company. You could also ask for advice about what areas of your work could use improvement and what skills to focus on honing.
2. A fresh perspective
Startup Mentors can help give you a fresh perspective on your business when you’re in danger of getting stuck in the day-to-day routine of running your company. They can help you look at things with a new set of eyes, which will help you identify areas where you might need to make changes or take advantage of an opportunity that you hadn’t previously considered.
A business mentor can provide a unique perspective and outlook on life and business that is different from our own and can help us grow as individuals and professionals.
Mentors often have a lot of experience and valuable connections in their field. They can help you make connections as well, which could lead to a job offer or an opportunity to take a class or attend a workshop for free.
A mentor isn’t just there to teach you about their industry; they also want to help you grow as a person. You’ll find that many business mentors develop personal relationships with their mentees, and once this happens, the relationship becomes valuable for both parties.
4. Direct feedback
You can take advantage of your mentor’s unbiased feedback on your work and ideas, which is very different from the criticism you might get from friends who don’t want to hurt your feelings. You just have to remember to ask for what you need rather than just assuming your mentor will give it to you.
Mentors will be able to give you instant knowledge about a subject. When you are starting out on a new project or trying to figure out how something works, having an expert on hand to guide you through it can be very beneficial.
5. Build your network
Mentors often know many people in your industry who can help you along your career path. If you’re just starting out in the business world, a mentor can introduce you to others who can help you find a job or get ahead in your career. Networking will never go away as a business skill.
People who network are more likely to find opportunities because they’re out there talking with other people in the industry. A business accelerator can help guide you through the process of networking, including things like what topics to discuss and how best to approach others.
6. Improve skills
A startup mentor maybe someone who works in a different part of the organization from you, which means they may have skills that will be beneficial to you regardless of your job title or role within the company. The best mentors are those who take the time to mentor others regardless of whether they stand to gain from it or not.
Mentoring helps you develop skills and abilities that might not be part of your job description, but that will help you in the long run. You might learn how to network with people you wouldn’t normally interact with or find out about new resources available to you on your job.
A mentor can help you stay accountable for your goals and plans. If you tell your business mentor that you’re going to do something, whether it’s attend networking events, pursue certifications or finish an assignment, they’ll hold you accountable for following through.
8. Opportunity for personal development
A mentor will provide encouragement and support as you learn and grow in your new role. They’ll help you feel comfortable and confident as you navigate changes and new experiences in your career.
9. Set goals
A mentor will help set, and then pursue, goals for yourself. Goals can be as simple as learning how to make a great dinner or as complex as building an empire. A startup accelerator will support you every step of the way by helping you figure out how to achieve those goals, encouraging you when things get tough, and celebrating with you when those goals are reached.
10. Greater self-confidence
Having a mentor is an important source of support and guidance which helps boost confidence and encourage us to take more risks. This along with all the other benefits mentioned above results in a more confident and empowered individual. A mentor can help boost your self-confidence by providing positive reinforcement for your strengths and helping you overcome hurdles to success.