As an ambitious entrepreneur, you keep looking for better ways to take the business to new heights. While most of these endeavors work because of your sheer determination and resilience, there comes a time when the surrounding situation is quite adverse. In such situations, it is normal to feel rudderless and helpless when making game-changing decisions.
This phase of uncertainty is an intrinsic part of every entrepreneurial venture. It comes recurring over time, and all that feels missing is valuable mentorship. But, no more.
Business events like LEAP in Saudi Arabia have definite mentorship programs. Riyadh is the capital of Saudi Arabia and holds great economic significance in the region. It is the center and the headquarters of major banks and financial institutions. Startup mentors in such events connect with new entrepreneurs to discuss business. While the value of startup mentorship is grossly underrated, its effects say otherwise.
Does your company need a mentor? After knowing some of the top benefits of having them onboard, you can decide.
Helps Entrepreneurs See the Bigger Picture
Professional mentors have firsthand experience of what complication comes in the way of first-time entrepreneurs. It is wise to assume they have already lived in different situations and worked out different possible outcomes.
Therefore, having their guidance is almost like knowing what lies ahead and having a clearer view of the bigger picture. Professional mentors have possibly been there in similar situations and know how to keep calm and get out of it victorious.
Besides guiding in making minute decisions, mentors can also suggest what to avoid strictly. They can prevent your startup from taking wrong turns and faux passes.
More Opportunities and Business Connections
In other words, mentors are successful business people who have worked and built business relationships with a plethora of other executives. Therefore, with a mentor, new entrepreneurs can expect to be introduced to worthy people in the industry when the time is right.
The other way around is pretty coarse. It takes decades for a startup to build positive connections with other entrepreneurs. So, having a mentor gives a shortcut to that. Additionally, with a business mentor’s help, startups can have better opportunities to connect the dots faster to reach business goals.
Helps Entrepreneurs Taste Success
A bitter fact about startups is their lifespan. Did you know that most startups last no longer than 20 months? They fail to pursue ahead due to various reasons that come from not seeing underlying issues. But startups with a mentor to guide them often evade these problems.
That’s simply because mentors have undergone such phases in their initial days of entrepreneurship. They understand how expensive mistakes can thwart growth. Their knowledge and experience in putting together the mistakes and finding solutions are what drives them ahead.
New business owners can seek help from mentors to have working ideas to bounce back in tricky situations. They can even help young entrepreneurs know the secrets of saving money.
A little reassurance is sometimes what new business owners need. Getting validation for a decision from a trusted mentor is the perfect way to boost confidence. Not just through words, even research shows how quality mentoring can bring a positive impact on startups.
Startup mentors know how to shape new business ventures from walking into mistakes and marching ahead. The best thing is that they provide advice without any hefty price tag.
Yes, that is because one can connect with them through business events like LEAP. So, what are you waiting for?