No one remembers your struggles in building a business better than you do. Because of that, it’s easy to develop an imposter syndrome; a belief that you have somehow fluked your way to success and are just waiting to be found out.
The truth is, in the world of business, there are no flukes – hard work is the only way to success.
Your experience as a successful entrepreneur and business owner is an incredibly valuable resource, particularly to the next generation of businesses that are starting up as we speak. So why not share it?
Now that you know you are ready to become a business mentor, here are four reasons why you should:
Teaching is beneficial to learners of course, but it turns out it’s also beneficial to the teacher. A study published in the journal of Memory & Cognition found that people who learned something – and knew they would later need to teach it – had a stronger understanding of the subject than those who simply learnt for the sake of it.
It works the same in business – a mentor becomes able to take their own advice. As you translate your own experience for someone else you’ll see your own motivations and decisions more clearly. The longer you are a mentor, the more you’ll be able to interpret your own problems and reactions objectively, and this means you can begin to apply your own advice consciously to new challenges.
You and your mentee might differ in expertise and sector, as well as in age, gender, and personality. Far from this being a clash, these differences give you the opportunity to gain a new perspective on the world of business and, more broadly, life in general.
Access to a new point of view is an invaluable tool for personal growth, one which improves your ability to create new ideas and communicate more effectively. It also improves business growth; regular contact with a mentee keeps you in touch with the next generation of business owners and professionals. You’ll start to understand how they think and what drives them, which can positively impact every business decision, from your next marketing strategy to the recruitment practices which keep your employees truly happy.
A city with a growing economy benefits us all and, as a mentor, you’re helping your entire city to grow. Young business owners could get their advice from a book or the internet but what works in London or San Francisco doesn’t always work in Manchester and vice versa. That’s where you come in.
Your experience extends to your surroundings, which means that you are the best person to provide specific advice to a mentee – everything from competition and history to the best bars after a rough day. Your experience as a local entrepreneur or business owner is invaluable.
There’s no better reason to become a mentor than for the sense of satisfaction. Wouldn’t you like to dust off those early mistakes and turn them into something useful to give away? As a mentor you’re signposting the way for a future business owner and can watch as you accelerate their progress. Who doesn’t want that?
If you’re ready to become a mentor, and would like to meet other mentors, join Tech Manchester for their launch event and mentor gathering.