Many young students plan to have their own business and acquire the necessary skills for that at the college, internships, workshops and online classes so they can implement them in the future. And that’s all cool, except for one thing: by the end of their studying, more than half of them giving up this idea of becoming an independent entrepreneur and within the further five years, this number will drop three times more.
There are many reasons why youth entrepreneurship is facing a huge decline after graduation or during student years: financial-relate issues, lack of motivation, mindset change, and many other conditions and life situations that affect our decision-making process. However, there is one way to encourage the young businessmen and businesswomen to follow this path, and we’re talking about the importance of having mentors in business. Now let’s see what they can do and what difference can they make for the aspiring business sharks.
What does a business mentor do?
That’s the most important question here, and let’s start with an explanation which is a business mentor. A business mentor is a person who has enough practical experience, credits, and achievements to motivate others, help and suggest business-related information to the people who are new or not skilled enough to the business industry.
Usually, mentorship can be voluntary and free (in the form of open lectures, consultations, webinars, and talk shows) or appointed and paid (for example, if you hire a business mentor for the company to work for a certain period). Those people usually have no interest in getting a share of your earnings, and they operate on a voluntary and sincere basis where their goal is to share their secrets, tip, strategies, and knowledge in general for you to have everything to start your business.
Why are mentors important?
One of the reasons why every business student should have one is to acquire the necessary practical skills and learn the peculiarities of the business. Another important thing is that this is the way how one can develop one’s leadership skills by following or inventing a new leadership style. Finally, there should always be someone to aspire to, so it means that you can achieve any goals.
How can a business mentor influence a student?
One of the most common ways of how any entrepreneur can influence you is when he/she becomes your role model, and so you need to know what a role model is. To save you from searching for role model essay examples to know the exact definition, we’d say that this is a behavioural pattern of another person that you want/might follow whether because you want to achieve the same results, or their behaviour and actions resonates with your worldview, or you do it subconsciously without any particular purpose. We just saved you from reading the whole essay on it, and now let’s see how a business mentor can influence your entrepreneurship career.
Become a source of inspiration
Everyone interested in business knows about Virgin, Microsoft, Apple, Amazon, AliExpress, and bunch of other international companies that control the lion’s share of the markets they’re operating on, and the reason why everyone knows about them is that we know about their founders and the businessmen behind them. Who doesn’t know the story about how Bill Gates started or that Steve Jobs didn’t go through a formal college education or how Richard Branson started his fantastic journey with founding a magazine! Sure, they might not be aware that many young business students sample a lot of their ideas in their internship, projects or term essay business papers, but it doesn’t mean they don’t influence their business style or decisions.
Advise on business directly
Those students who were lucky to get a business mentor during their internship program, quickly realise how helpful (and in some cases – harmful) mentors can be.
The thing is that it’s very rare that the person who’s advising you knows everything about the impact she/he is making on your future life and business career because they don’t know everything about the intricacies about the mentoring relationships.
Mentors can have many functions: to show the example by doing (role model), motivate, counsel, be a friend, a teacher, a sponsor, a consultant, and protector, and a good mentor always keeps in mind that those functions aren’t separated. So when you’re working with a guru in business, most likely you’ll get influenced by his/her lifestyle in general, not only the innovative ideas he/she has.
Promote among other business people
Mentors who find their mentees motivated and skilful enough can also partake in welcoming you to the business world and business community, which is in itself a great opportunity to learn how it looks and works. They might give you small tasks, and the successful completion of them can also open the doors to people who might need the services that your future company will provide. This is where you can gain some reputation and a good reputation in the business circle always outweighs the money.
While having a mentor is a privilege that only few business schools can offer, it’s clear that its impact on the student’s career can have great outcomes for the business community in general as it will enable the young entrepreneur to learn from the best and pass this knowledge to the future generation. In addition, that can facilitate innovations and new techniques to solve the current problems in the field.