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Growing Your Business The Playbook

Four Benefits to having a Mentor as an Entrepreneur

EL Johnson Oct 28

Entrepreneurship is hard! and if you’ve never started a business before, you often don’t even know how to get started. You can read a bunch of books, listen to every podcast, read every article and medium post; but actually having an understanding of what you’re doing is a part of the journey that most new entrepreneurs struggle with the most. If you’re lucky, there is someone to help guide you along the way, show you the ropes, and point out the potential pitfalls. In other words, if you’re lucky, you have a Mentor.

Don’t get it twisted, NOT having a mentor doesn’t mean you wont be successful, but having one will likely increase your chances of success. So what are the benefits of having a Mentor? There are tons, but I’ll highlight Four key benefits:

Role-play/Prep for big events

A mentor is great for helping you prep for big events along your entrepreneurial journey. They can help you role play for that big pitch by asking you the tough questions that you’re likely to encounter. Your mentor has been where you’re seeking to go, they have been on both sides of the table you will be standing in front of, and they know exactly what questions you will be asked and can help you navigate those shark-infested waters.

Insights into their past experiences

They say the greatest teacher is experience, and your Mentor has a ton of it. They can help you spot a problem before it happens and save you a ton of stress (if you listen). Another thing that your mentor’s past experience can do is open up new opportunities for you to innovate if applicable. If your mentor came up in a particular era and understands the legacy pathway for success during that generation, there may be opportunity for the two of you to collaborate and attack things from a new angle.

Can help you identify your strengths and weaknesses

Your mentor can see qualities in you that you may not be able to see in yourself. They can help you identify weaknesses to improve on, and inversely help you use your strengths to your advantage. Having someone who can see from the outside-in and identify what you’re doing wrong and right is an invaluable asset to any budding entrepreneur.

They will keep it 100 with you (hopefully)

We all need someone who has your best interest at heart, but will also keep it 100 when it comes to the way you’re going about your business. Your mentor should know enough and care enough to give it to your straight up, no bull.

There are tons of other qualities that you can find in a good mentor, and everyone’s needs and requirements are different. Whatever yours are, make sure the person is a good fit and their skillset/expertise is in alignment with your goals. What are some characteristics that you look for in a good mentor? Sound off in the comments.

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EL Johnson

Creative Problem Solver, Entrepreneur, Co-Founder of Billion Or Bust Media