5 Main Reasons Why Every Entrepreneur Need a Business Mentor. | WMA 富道学院

5 Main Reasons Why Every Entrepreneur Need a Business Mentor.

Your friends, family and even casual acquaintances can provide you with a steady flow of information regarding the current affairs in your fields, the new developments, and opportunities.

However, only a business mentor can truly share wisdom with you on an ongoing basis, and in a manner that can have a direct positive impact on the growth of your business over time.

Who is A Business Mentor?

A business mentor is someone with more entrepreneurial business experience than you, who serves as a trusted confidante over an extended period of time, usually free of charge.

Many business mentors may advise people in order to develop their skills as a teacher, manager, strategist, or consultant.

Also read: Why is Training Necessary for Employees?

And a true mentorship relationship also works in both directions—your mentor gets to learn about new ideas, strategies and tactics from you, just as you’ll learn timeless wisdom from them.


Here are five key benefits of having a business mentor:

1.  Reliable support system

Once you launch into your own business, there’s no boss to turn to for advice or direction when you’re in a pinch—maybe not even any employees yet.

Also read: 5 Strategies to Improve Your Business Knowledge Fast.

Although you’re flying solo, you don’t have to be.

Everybody needs a good reliable sounding board, second opinion, and sometimes just emotional support when the times get tough (which they will).

2. Can learn from their previous experiences

Perhaps the most obvious benefit of finding a business mentor is that you can learn from their previous mistakes and successes.A

Your mentor doesn’t need to have experience in your particular industry—though it helps if they do—so that you’re maximizing your opportunities to leverage key relationships.

Also read: The Benefits of Training and Development in the Workplace.

They don’t have to be up on the latest trends or technology—you’ve got other sources for that.

Your mentor’s role is to share with you lessons from their experience in the hopes that you can learn them quickly and easily.

3. Worth the time and money

If you’re on a tight budget, that’s a major factor.

While good coaches and consultants may be able to offer some things that a mentor doesn’t, it almost always comes at a price, usually, you pay per class or by monthly basis.

Also read: Key Practices For Upskilling Workers In The Age Of Digital Transformation

Mentors, though, are readily available, free of charge through a number of organizations and event companies.

But plan on at least treating your mentor to lunch or coffee when you meet together.

4. Expand your social network.

Your mentor, being an experienced businessperson, is likely to have an extensive network and can offer you access to far more senior decision-makers than you currently have.

Also read: Why Knowledge Is Important To The Success Of Your Business?

And they will be far more willing to open that network up to you than some casual acquaintance from a networking meeting.

5. A trusted, long-term relationship.

Your mentor has no ulterior motive—no service or product to sell you.

That, combined with their experience, creates a good foundation for trust and as the relationship develops over time, that trust can grow even stronger.

Also read: To Succeed in Your Business One Must Become a Knowledge Junkie.

Also, your time with them becomes more and more efficient as they become more and more familiar with you and your business.

Do need a mentor to guide you to the business success that you dream of?

Let us know in the comment section below. We will equip with exclusive wealth resources and knowledge that will definitely take your business to the next level.

We at WMA would help you attain your goal by empowering people with the right skills in order for individuals to attain financial freedom.

Over the years, WMA has coached thousands of individuals from all walks of life and have guided them with powerful knowledge and proven skills and strategies towards the path of financial freedom.

WMA will continue to grow and remain committed with our aim to assist people towards their dreams.

For more information on comprehensive business plans by WMA, check out our main page, call us at +60 10-234 4913  or chat with us via Facebook or Whatsapp.

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