Tuesday, 11 January 2011

Mentors for Entrepreneurs

Are mentors really required for entrepreneurial business? Frankly speaking yes, though nothing hard and fast about this requirement. It is always good to consult a person experienced in the field in which you are a newbie. So why not take advantage of the experience! You need not go through the same hurdles again.

We are usually scared to share something internal with a third party. We never know how that person can misuse that info. So for sure your mentor should be someone whom you can trust. A mentor should be someone without any selfish motive behind mentoring. Another important aspect is mentor should act as a person being consulted for opinion, but should not impose his own decision. If mentor is forcing his decisions, both of you might be seen going in different directions.

We are already tight on budget...do we have to even pay to mentors? Yes or even no. I've seen some people acting as mentors merely because they want young entrepreneurs belonging to their college flourish and grow well. Such mentors are usually the ones who have taken retirement from work, of course retired and not tired! Such folks you'll find only through alumni or network connections. Very rare to find though! Other set of mentors- professional consultants and mentors. They might ask for stake in your company or cash. You can find them through sites and consulting firms. This kind has its own advantage- professional relationship!

Having a mentor though is not a key to success, it is just a plus. Someone with different perspective (different because he is in not in the same position or relation with the company as you are) can prove to be useful. Despite it is ultimately you, the entrepreneur who will make or break things, the value of a business mentor cannot be ignored!

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