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Four Reasons to Have a Mentor in Business

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Nov. 5 2015, Published 10:57 a.m. ET

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Perhaps the greatest common denominator found with successful people in business is that they had one or more mentors in their careers. There are different areas of business that provide a different benefits of having a mentor. You may be a small business owner just starting out or a person working in the corporate world looking for a successful career, but either way, a mentor can be valuable. The following are a few of the ways this is true. 

Mentors help small business owners with important advice:

You may have the best idea ever created, but not having the experience in business to develop the idea may mean failure. By having a mentor, you will have the benefit of experience. Getting advice from someone who has gone down the same road you are going down now is invaluable. For example, you may have a great idea for a fast food restaurant, and after opening the doors for business, you show success. Now, you want to take the next step and expand your operations, perhaps by using a franchise method. Someone who has been successful doing this. Many of the mistakes that are common when franchising your restaurant can be avoided by having someone to look to for advice. 


Mentors help with networking:

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If a mentor likes what you are doing, they will inevitably know many people who may take an interest in what you are doing. This can help in areas of financing and product expansions. The greater number of talented people who are interested in you and your business, the more opportunities you will have to succeed in the business world. 

Mentors are role models:

It is not enough to know how to make or distribute a product, there is also the way to live your life while you do it. Many men and women have started a business only to sabotage their hard work by making mistakes in their personal life. Successful business owners can be role models in how to conduct your private and public life outside of your business. This type of role model cannot be more important. There is more to life than business, and having a role model for your success includes all of life, and not just helping you with a certain skill set in the business world. 

Helping to find a path:

Many people face challenges in finding a path to success because of barriers due to a minority status in society. Having a mentor can be inspiring. You can see that success for you is possible. Knowing that it is possible is a great motivator. Beyond this, a mentor can show you the best path to take. For women, especially, having a mentor can make a major difference. For example, Suzzanne Uhland is an example of a successful business woman, and she speaks highly of the importance of having mentors. 

Mentors can make the chances of success easier, so don’t turn down the advice and assistance from someone who has gone before you. They have experience and knowledge that are golden for you and your future.

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