Setting up an enterprise is an exciting task-thrilling, something really creative, full of possibilities. Sometimes, however, it is unpredictable, since the most significant challenges usually occur at times when nobody expects them to strike. Sure, passion, strategy, and vision are major drivers in establishing a business, but one necessary ingredient to which any successful entrepreneur subscribes is the sage advice and mentorship of others.
Daniel Johnson is a very successful entrepreneur and investor with scores of successful businesses under his belt. He accords this growth to mentorship. In this article he shares how mentors and advisors have inspired his journey and why every entrepreneur should invest in the wisdom and experience one gets from the people who have ‘been there’.
Experience and Wisdom are Priceless
Indeed, one realizes quite early on in business that there will be obstacles. The thing is, no kind of preparation can save one from a challenge that just seems to appear out of nowhere. That is where a mentor and advisor come in. According to Daniel Johnson, experience which a good mentor can bring to the table is invaluable. “Their insight can save you from making costly mistakes and allow you to focus on making informed decisions right from the start,” he says.
Mentors have gone through problems that you likely will go through. They learn from their mistakes, and more often than not, are dying to give one the benefit of their hard-earned wisdom. You get hindsight into their guidance that keeps you out of trouble they went through and, therefore, shortens your learning curve. Time is said to be one of the most valued resources in the business arena, and at this stage is when a mentor’s guidance will shorten the time span for your journey by saving you from those common mistakes.
Building a Network of Open Doors
One of the huge benefits of mentors is the networks they connect you with in the industry. You can build your business by having an idea of at least whom to reach out to, whether it’s a partner, a client, or an investor. This successful mentor may know just about anybody that can help get your business to the next level.
As Daniel keeps saying, “Relationships matter,” and the mentors serve as bridges toward such relevant connections. Their network will get you your credibility, amplify your reach, and ensure that your business comes in front of the right people at the right time.
As Daniel goes on to say, “Great mentors are not just guiding you but also opening a lot of doors to many opportunities that you will never have access to yourself.” The guidance with your mentors means the need for your business to go it alone.
Staying Grounded and Getting Feedback
Ambition and determination are two of the key ingredients of any entrepreneur, but sometimes it is very easy to become so caught up in your own ideas and plans that you overlook some of the important areas of development. It is here that a mentor’s honest feedback is invaluable. Mentors provide that grazing effect – a necessary lever to balance all that objective criticism which refines your approach and keeps you in check. As Daniel would say, “Constructive criticism from someone you trust is invaluable” as it’s key to your growth and development.
Diverse feedback from someone more experienced will put the entrepreneur on better ground to change course, if needed, so as to fine-tune his strategy and avoid making decisions which would turn out to be potentially worse in the long run. A mentor guides you not just at the start but remains with you on your journey of building your venture. Whether you are scaling up, financial planning or setting up a new strategy – a mentor who has immense knowledge is there to help guide you to make the right decision.
Long-term Value of Mentorship
In fact, a great mentor relationship is not only one that sees you through the early days of business, but when your company grows, the role of experienced advisors becomes much more important as your company ramps up and scales. Their guidance and advice prove useful in adjusting to scaling challenges and working out moves that can take your business to the next level. Meanwhile, Daniel Johnson remarks, “Their support and experience become a species of capital; one that you take through every stage, from launch right through to maturity.”
Long-term growth needs people who understand the whole magnitude of your entrepreneur journey. Now you have much more clarity in viewing the challenges thrown forth by the business, together with a strategic perspective, which has become necessary when businesses grow. While often overwhelming, the role of an entrepreneur provides that constant source of stability and direction a mentor can give. You’re always one step ahead, and experience leads toward both temporary and long-term success.
Invest in Mentorship to Invest in Success
Setting up a business is an uphill task, and one can pretty well feel the tension of how the weight of the world rests on your shoulders. You don’t have to bear it all by yourself. It is the mentors and advisors who will be able to give you that much-needed guidance, connections, and constructive feedback every frugal entrepreneur needs so that they may realize success. As Daniel Johnson says, “Invest in great advice-invest in the success of your business.” Surround yourself with mentors who believe in your vision and give you insights worth their weight in gold. With their wisdom, networks, and mentorship, you set the bedrock for a lifelong success that aids your startup in its journey from vision to reality with stealth-like ease. You get advice in business worth its weight in gold through mentorship, but most importantly, you gain a relationship that may help you out of the jungle that is entrepreneurship.
To learn more about Daniel Johnson’s approach to mentorship and entrepreneurship, visit his website or connect with him on LinkedIn.
