Friday, April 10, 2015
The Value of Mentors in Business
Donald Trump, Steve Jobs, Sir Richard Branson and other successful business persons who have been featured in Forbes magazine all agree that mentors in business are very important. Donald Trump, who was mentored by his father, said that his father taught him a four-step success formula “get in, get it done, get it done right and get out”. Much of his success can be attributed to these wise words from his mentor. Starting a business can be draining, stressful and lonely. The process can be daunting with a myriad of issues competing for your attention. No one is an expert in everything, and getting help from people who have been there before can help you navigate the murky waters. Here’s why you need business mentors.
A business mentor plays the role of a sounding board. They listen to your concerns, ideas and help you think through the issues facing or likely to face your business. They are also a second pair of eyes and can help you look at things from different perspectives. Most of the advice is given from their experiences. This is why it is important to get a seasoned mentor who can help you deal with business issues such as marketing, finance, innovation and recruitment.
An eye On The Bigger Picture
While starting a business, you are likely to get caught up in the details which can be overwhelming. In light of this, you need someone who can help you see the bigger picture, someone who has a bird’s eye-view. To move a business from its start to a point of growth, you need knowledge and experience. A business mentor brings these qualities to your business. The failure rate for any business can be reduced by having the right mentor who will also motivate you when things are not looking promising.
Experience in the line of business is directly attributable to a vast network of connections. Networks can take years to establish. Your business mentor can introduce you to potential partners, clients and key decision makers in your industry. Networks can propel your business to fast growth; this is because what should have taken several years to establish can be arranged by your mentor in a short period of time. Though it is often overlooked, the importance of business mentorship can make the difference between success and failure. Mentors are big brothers who know the ropes and can prove valuable to any business whether in its inception or at different stages.
Gennady Barsky is the Vice Chairman and Chief Financial Officer at JetSmarter. A long standing career in real estate, Barsky has gained valuable insights that he carries over into his entrepreneurial activities.