Why Having a Mentor is So Important for Your Success
I know this is the age-old cliche regurgitated a million times on LinkedIn. One more time won't be so bad then, what say?
Like most startup founders, I didn't start with a mentor. I got into the industry and had to look up to someone well-known.
This is not as effective as working hard to get a mentor to guide you while you run your business -- but it's better than nothing.
Having been in business for over seven years, I've realized the importance of having a business mentor.
In an age where instant gratification is glorified, it's unsurprising that many entrepreneurs and young founders do not seek out a mentor as hard as they try to find a co-founder.
While arguments abound on why entrepreneurs do not need mentors but should only follow their instincts and gut feelings, most successful tech titans have founders who have 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.
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Here are Seven Reasons having a Mentor is Important
- Gain experience not shared in books.
- You're more likely to succeed with a mentor: Research and surveys prove that having a mentor is important to success. Eighty percent of CEOs have said they received some form of mentorship. In another research by Sage, 93 percent of startups admit that mentorship is instrumental to success.
- Network opportunities: Aside from the fact that investors trust startups recommended by their friends, 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.
- A mentor reassures you.
- A mentor will help you stay in business longer: According to SBA, 30 percent of new businesses may not survive past the first 24 months, and 50 percent may not survive the past five years. However, 70 percent of mentored businesses survive longer than five years.
- A mentor will help you develop stronger EQ: A story on Business Insider reveals how Schmidt worked with the inexperienced Page to manage the affairs of running a fledgling startup.
- Encouragement. Starting and running a business is tough; some encouragement goes a long way.
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