“No man is an island.” - John Donne
As an aspiring entrepreneur, it’s important to have a mentor who can walk you through your
journey. A business mentor is someone with more entrepreneurial business experience than
you, who serves as a trusted confidante over an extended period of time. First and foremost,
being a business mentor to an up-and-coming entrepreneur is a great way of giving back to their
community, and to society at large when their advice and guidance can have a measurable
impact helping their mentees. This is why our convener, Muyiwa Folorunso founded the
LESociety. To build a community and a platform dedicated to train and provide mentorship to
aspiring entrepreneurs who have a desire to create something spectacular for themselves in the
Many business mentors may advise people in order to develop their skills as a teacher,
manager, strategist, or consultant. And a true mentorship relationship also works in both
directions—your mentor gets to learn about new ideas, strategies and tactics from you, just as
you'll learn timeless wisdom from them.
Here are five key benefits of finding a business mentor:
1. Where else are you going to turn?
Once you launch into your own business, there's no boss to turn to for advice or direction when
you're in a pinch—maybe not even any employees yet. Although you're flying solo, you don't
have to be. Everybody needs a good reliable sounding board, second opinion, and sometimes
just emotional support when the times get tough (which they will).
2. They've "been there and done that".
Perhaps the most obvious benefit of finding a business mentor is that you can learn from their
previous mistakes and successes. Your mentor doesn't need to have experience in your
particular industry—though it helps if they do—so that you're maximizing your opportunities to
leverage key relationships. They don't have to be up on the latest trends or technology—you've
got other sources for that. Your mentor's role is to share with you lessons from their experience
in the hopes that you can learn them quickly and easily.
3. Expand your social network.
Your mentor, being an experienced businessperson, is likely to have an extensive network, and
can offer you access to far more senior decision-makers than you currently have. And they will
be far more willing to open that network up to you than some casual acquaintance from a
4, A trusted, long-term relationship.
Your mentor has no ulterior motive—no service or product to sell you. That, combined with their
experience, creates a good foundation for trust. And as the relationship develops over time, that
trust can grow even stronger. Also, your time with them becomes more and more efficient as
they become more and more familiar with you and your business.
As you can see, the rewards are potentially great to bringing on a business mentor, and the risk
is non-existent. You have nothing to lose and everything to gain by finding a good mentor. Every
entrepreneur should have one.