October Blog: Why Entrepreneurs Need Mentors
Behind every strong Entrepreneur is a good mentor, who coaches the entrepreneur on their journey. At The Innovation Centre, we strongly believe that mentors can help businesses who are at any stage. Recently we held an event where the goal was to match entrepreneurs with mentors to help grow businesses in Northwestern Ontario. Here are 5 things we learned from the event as to why all entrepreneurs should have a mentor:
Gain from their experience:
Mentors have already gone through the journey, the ups and the downs of starting a business. Having a mentor helps you navigate through the unknowns of starting a business. This will help you bring both a direction, and a positive influence for your business.
They will tell you the Truth:
In business, it is important to have someone tell you the truth. By having a mentor, you will have someone to provide you with the truth, and their honest opinions. You know you have found a true mentor, when they don’t hind the truth and their honest opinions from you. They will tell you the truth even if it may hurt sometimes.
Gain from your Mentor’s Network:
Over the years, your mentor has built their network up and when they choose to mentor you, they can also open up their network to you. This will introduce you to new contacts who may be able to help grow your business.
Encouragement.
Going through the consequences of failure on your own can set you back and negatively impact your productivity. In the down times of having a business, your mentor will help you keep your head high. A mentor who has gone through the highs and lows of running a business is in the perfect position to give words of advice when things aren’t going as you had planned.
Mentor will hold you accountable
Since your goal has been set clear, and you are discovering your way to achieve them, your mentor will encourage you to track your achievements. They help you measure you keep track of your achievements and help decide on your goals and strategies. Having someone hold you accountable through your Entrepreneurial journey is key.
These 5 lessons learned show the need for entrepreneurs to have a mentor through the ups and downs of starting and growing a business. At The Innovation Centre we will continue to foster the growth of mentor/entrepreneur relationships as we see the benefits it gives to both parties.