Why Startups Need Mentors?

A mentor is a supporting ladder to an entrepreneur to reach to its final destination. A mentor help is essential especially in the initial stages of business. The decision that an entrepreneur makes in the initial stages of business defines the future of business so it is better to hire a mentor to have a secured future of business.

In India, 95 per cent of the startups shut down within one year after incorporation which is not only because of innovation but also because of lack of entrepreneurial skills. A business is successful if the entrepreneur knows what is best for it. Mentors are experienced and have actually faced some real-life challenges before and they know how to overcome these challenges.

A mentor is always looking for business opportunities to help them in guiding the right direction. If you are looking for a mentor that could actually help in your business development then online networking portals are the best source. BusinessEx is an online networking portal where you can find the mentor for your startup in diversified industries and location. This portal is specially formed to help the business grow and find everything they require on a single platform.

Why are mentors essential?

Real-Life Experience

A mentor shares the experience that they have gathered from the past years of working or running a business. They provide the knowledge that a new entrepreneur doesn’t have. The knowledge they have is collected from the experiences and situations that they have faced which an entrepreneur cannot find in books. They help an entrepreneur by providing guidance and sharing principles so that startup could find success.

Networking opportunities

For a startup, the most difficult part is building its own network in order to carry out business functioning smoothly. But a mentor has contacts in the industry which they build while running their business so they help out the startups to network with relevant people to find what they desire.

Entrepreneurial skills

No entrepreneur is perfect and they all make mistakes due to lack of skills but a mentor has gone through that stage and collected that learning in their starting phase. They share their skills and help an entrepreneur grow their understanding of business. They help startups in taking essential decisions at each step to move towards growth.

Motivation

Mentors are the source of motivation and they cheer up the entrepreneur even startup is in its rough phase. They have the maturity level and know what’s right for business which helps to build confidence in startups. Everyone requires a teacher and a guide to motivate them in good times as well as bad ones.

Support

They are the support that entrepreneur needs while running as there is a lot of money invested in the startup so the stress is high. They act as a parent and mentor in different situations and supports an entrepreneur both emotionally and professionally.

Conclusion

In India, startups are in urgent need of mentors in order to find success that they actually desire. If a mentor is not there in a startup then chances of being successful fall down to 50 per cent. It is better that you find your mentor as fast as you can. The fastest, safest and the best way to find a mentor for your business is BusinessEx online platform.