Mentoring the future entrepreneurs by experts has been an age old tradition, for centuries. A mentor is someone who is a trusted friend, philosopher and guide. He primarily grooms a person to become an entrepreneur and guide him/her to the path of success. As time changes, so does the job responsibility of the mentor. He comes from a highly professional back-ground with loads of experience and knowhow to deal with area specific skillsets. Nowadays, mentoring is not restricted to grooming only. The mentor helps fresh minds to explore new ideas with old school discipline so that such entrepreneurial endeavours achieve the desired objectives and success.

Indeed today’s generation is far more confident. They are not only smart but also highly focused with abundance of new ideas and visions. Therefore, the requirement for mentoring attains for more significance than it was a few decades back. Earlier access to information was highly restricted and constricted. However, times have changed. Today information is freely available, specially, due to the growth of information technology. Therefore, the need of mentors has become more significant. He is a highly skilled guide with the focus and skill-set to channelize future potential leads to success. Thus the following are the five holy grails of Mentoring:

An upcoming innovator & entrepreneur need someone to listen to them and this is where a mentor has an important role to play. The mentor becomes the much needed eyes and ears for the entrepreneur. Trust is the key to such a confidential relationship. First and foremost, role of a mentor is to listen and show patience. Once the mentee is confident that they have an interested audience, who is willing to spare time to listen to their ideas and vision, half the job is done. As a consequence of listening to plans, they are ready to be manifested on paper. Something which was still in the realm of creative imagination takes shape.

Mentors are the ideal support system, that every young innovator/entrepreneur needs. They encourage and empower them. The next role of a mentor is to create milestones for their mentee. The mentor allows the mentee to form goals which include timelines. At each and every step they provide feedback and constructive inputs. Their own experience and expertise often help the mentee create high performing and productive environment. A mentor makes the mentee accountable for their objectives. He ensures that the mentee stays focused. Once there is someone who is keeping track, it serves as a filter as well as a check dam to allow the mentee, not only the freedom to move but also the underlined discipline to remain focused and not deviate from the primary objective. One may face many challenges to achieve one’s goal, but once someone is confident that they under a watchful and trusted gaze, who is always there to extend help during all the ups and down, it leads to success. Such unqualified sense of security and confidence makes the entrepreneur more confident to remain focused and work harder to realize the goals set forth.

Every mentor over a period of time creates a space for themselves in their respective business ecosystem. This results in a strong professional network. Such networks and connections are built over a period of time. There is a strong chance of creating newer opportunities and business association which helps the mentee to establish a more robust ecosystem which will ultimately lead to growth and success.

Often feedback shared by family/friends as associates are sugar coated, and do not showcase the actual image. This may lead to a reduction in focus or even false sense of success and achievement. However, unrelated individuals are not amenable to any personal attachments and see the entire picture resulting in mentors actively sharing constructive feedback. An honest feedback makes a lot of difference. It instils trust and confidence amongst each other. The mentor understands that any feedback good or bad will help his mentee in the long run. His work is not to give sugar coated feedback but to give constructive and correct but healthy criticism. He should point out the mistakes in a healthy manner, allowing the mentee to correct his/her future actions. The mentor’s foremost objective is to provide a solution or a way to improve.

Experience is a very expensive but hard to achieve asset. A right mentor, with the relevant experience, helps fresh entrepreneurs to achieve their respective goals and must be free to criticise when mistakes are visible. Most importantly, the mentor must provide a platform for knowledge and resources under his/her guidance. A right mentor is someone who is open to share their own experiences, inform about mistakes which may occur or they themselves may have made which may and should be avoided by the mentee. Most of the first time entrepreneurs need real world experience, business insights and professional expertise.

Mentoring is a consistent and continuous process. Sharing of knowledge, information and experience with doses of constructive criticism leads to synergy between the mentor and the mentee. This helps both ways. It creates a beautiful relationship which may, last a lifetime. There is a reason why from Fortune 500 organisations to academic institutions, prefers and promote the concept of mentoring as a necessary and much needed tool, so that the business environment / professional environment grows, resulting in success. Such coexistence of the two in a synchronized platform empowers the young leaders to succeed and also instils confidence to face the challenges of life, both professionally and personally.

Why Mentoring an Entrepreneur is important

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