The Importance of Mentors - Presley & Partners - Presley & Partners


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The Importance of Mentors

June 7th, 2019

Studies increasingly show that mentors play a huge role in entrepreneurial success. A recent Forbes article stated that studies show entrepreneurs backed by successful mentors are three times more likely to also become successful.

The same article claims that 92% of business owners surveyed claimed that mentors had a positive influence in their business development.

“A great mentor is someone who offers objective advice, provides counsel from a fresh perspective, is willing to collaborate, listen and learn, as well as helping you stay focused on your goals, your purpose and what you’re working so hard to achieve,” notes Amy Zimmerman, Head of People Operations at Kabbage (global financial services, technology and data platform).

One of the most powerful punches a mentor packs is the “been there, been through it” factor. Having been on the other side of the glass, so to speak, their opinions and advice are charged with passion, and rooted in experience.

Real life experience is something that no business school course or training manual can provide. A mentor comes with a wealth of knowledge that can only come from the school of hard knocks!

A mentor also delivers one of the most powerful tools in an entrepreneur’s toolkit- a network. The benefits of networking needn’t be debated- small businesses rely on it. Build yourself a better (stronger!) base of business by adopting a mentor with a deep network.

Mentors develop a unique relationship with business owners. Unlike partners, investors, co-founders or colleagues, they don’t have a stake in the game. They are uniquely there to support you and guide you and answer questions with out bias. Their ability to offer a perspective is not backed by anything; their intentions are purely benevolent.

Some additional facts about mentor relationships: they promote emotional intelligence, they encourage confidence in decision making, inspire long term relationships, and create a chance to give back. A successful mentee can then offer their services as a mentor- therefore fueling more successful business go-getters.

Success begets success!

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