by Khari Bodrick, President and Founder – Khari Bodrick Foundation
When Odysseus, King of Ithaca, sailed off to fight in the Trojan War, he left behind his young son Telemachus. To ensure Telemachus would have support and protection in his father’s absence, Odysseus appointed a trusted friend to be the boy’s advocate and guide. The friend’s name was Mentor.
In today’s business world, savvy young leaders who are just starting out often look for the same type of guide Telemachus had — someone who can help them navigate confusing and challenging situations — and they refer to those guides by the same name: mentor.
Mentorship relationships can be hugely beneficial to those seeking to grow their careers and expand their influence. Business icons like Oprah Winfrey, Mark Zuckerberg, Sheryl Sandberg, and Bill Gates all credit mentors with helping them excel.
However, engaging in a mentorship relationship requires an investment of time and energy, which is often in short supply for leaders launching a startup or running a small business. For those considering pursuing a mentorship relationship, the following benefits will help determine whether it is worth the investment.
Mentors accelerate growth
Growth is a learning process. As new leaders face new challenges, they see the skills needed to move forward, and each experience provides the opportunity to test whether their current business intellect and instincts are sufficient to move them forward. The process takes time, but having a mentor to call upon can accelerate it.
The best mentors have been there and done that. They’ve already navigated the minefield that lies between launch and stability, which means they have a map to share. Whereas new leaders may bring an excellent academic understanding to their business efforts, mentors can offer real-world insights obtained through trial and error.
While the wisdom mentors offer isn’t necessarily a cheat code — allowing you to skip levels or obtain supernatural business skills — it can at least help you to identify pitfalls. A mentor’s guidance can help you to steer clear of issues most likely to delay your success.
Mentors provide support
Stress is part of the package for entrepreneurs. Their job requires long hours and a lot of financial pressure, not to mention feelings of isolation. Studies show that the burden carried by entrepreneurs leads to burnout more than 25 percent of the time.
Mentors provide the kind of support needed to avoid burnout by pointing frustrated founders in the right direction and serving as a reminder that the challenges they are facing can be overcome. Even when they just serve as a listening ear — someone to vent to — mentors provide valuable support.
Emotional support — the kind that flows from sharing the same struggles — is one of the key benefits of a mentoring relationship. Many founders turn to business books to gain the type of insights that can accelerate their growth. While that type of “book mentorship” can be extremely beneficial, it doesn’t provide the kind of personalized, in-the-moment support that can buoy business leaders during tough times.
Mentors help keep entrepreneurs accountable
Business success is primarily built on accountability. Stakeholders, including investors, employees, and clients, want business leaders to assume responsibility for their company’s growth — or lack thereof. Trust and credibility grow when they see a leader take ownership of their actions.
But embracing accountability is not easy for the entrepreneur. They often strike out on their own because they want the autonomy, flexibility, and lack of rigid structure the average employee doesn’t experience. To gain their freedom, however, entrepreneurs often shy away from accountability and lose the benefits it can bring to their business.
Mentors can help entrepreneurs to stay accountable. They can play a role in setting clear and reasonable expectations and regularly checking in to ensure they are met. Mentors can also help new leaders understand the value of accountability and envision what can happen when it is ignored.
Mentors instill confidence
Entrepreneurs often chart their own course, which can make it difficult to remain confident that they are headed in the right direction. Mentors can help instill confidence by serving as a sounding board and offering hard-earned insights into which direction will be most rewarding.
Mentors can also help entrepreneurs build confidence when they face fresh opportunities. Opportunities to partner with another company, enter a new market, or bring a proven expert on board can all help young companies build momentum, but these opportunities also pose risks. Mentors can guide entrepreneurs based on their own experience, helping them make more confident decisions.
Today’s entrepreneurs have more opportunities than ever before, with technology tools opening the door to a global market. But navigating the market is complex. Mentors offer new leaders the support and insight they need to find their way, optimize opportunities, and thrive.
Khari Bodrick is an Amazon Best Selling author, entrepreneur, and businessman. In 2022, Khari launched The Khari Bodrick Foundation to mentor aspiring entrepreneurs, award scholarships, and invest in small businesses to help them grow. A mental health awareness advocate, Khari also shares his struggle with anxiety, encouraging others to keep pushing through their paths to success.
