Over The Rainbow knows that the benefits of business mentorship are endless!
We created the Golden Circle Mentorship Program to share our unique knowledge and skills with South African entrepreneurs to help them take their businesses to the next level. In this article, we discuss the top 6 benefits of business mentorship and look into a few statistics that may just persuade you to seek the advice of a business mentor.
Proven Benefits of Business Mentorship
Olivet Nazarene University in Illinois, USA, conducted a mentorship survey of 3000 people in 2019. They wanted to understand the impact mentorship had on the mentor and mentee. The survey pool studied 21 industries in all 50 states in the US and covered an age range of 21 to 68.
Here are their findings:
- 76% consider mentors important, but only 37% have a mentor currently
- Only 56% of participants have ever had a professional mentor
- People with mentors were generally happier in their jobs
- Only 8% of senior-level managers have mentors compared to 57% at junior level and 35% at mid-level positions.
A recent article published by Forbes found that 92% off small business owners agree that a mentor directly impacted the growth and survival of their business. With so few people using a business mentor, it’s easy to see how mentorship can give you a competitive edge. We know the importance of mentorship, but here are a few incredible benefits of business mentorship that you will gain through the Golden Circle Mentoring Program.
6 Key Benefits Of Business Mentorship
Seek clarity in identifying and achieving your career goals
Setting a true north for your career and business is essential if you want to succeed. Our mentorship program helps you clearly define your goals, and our mentors will show you where to focus your energy to guarantee results. Our mentors will keep you accountable, which keeps you motivated, as they will expect you to stick to your word and encourage you to continue pushing toward your goal. Mentorship can help you fast track your success, as our experienced mentors will help you avoid the same mistakes they made when starting out.
Increase your self-confidence
One of the most exciting benefits of business mentorship is increased self-confidence. Self-confidence is critical for entrepreneurs as you need to be capable of leaving a lasting impression on everyone who interacts with you and your business. Remember, investors invest in people, not ideas, and the more confidently you can show your value to investors, the more likely they will invest in your business.
You need to be confident to be an inspiring leader and be able to back yourself when making critical decisions. Our mentors will show you how to capitalise on your strengths and where they believe you may need improvement. Mentorship means you are never alone, and someone’s got your back when times are tough. We will also be right beside you to celebrate your wins.
Become an inspiring leader
We are not born leaders; we are made into leaders. Our mentors have years of leadership experience to share with you, and they will show you how to communicate clearly to avoid costly workplace failures. Through our mentorship program, you can transform yourself into a leader who inspires your team, ensuring they are invested in your goal and will do anything to ensure your business’ success.
Increase your network
Networking is essential for all businesses when you start out and will prove one of the most valuable benefits of business mentorship. The further you cast your net, the higher the likelihood that you will catch your ideal investor. The Golden Circle Mentorship programs help you connect not only with the mentors mentoring you, but you also have the opportunity to connect with other entrepreneurs in your group. Having an extensive network increases your chance of an introduction or someone recommending your business to a friend. Networking is valuable as it could lead to more clients, connect you with suppliers, or even secure an investment.
Develop strong communication skills
Having a business mentor will help you develop your communication skills. You will have an opportunity to share your unique stories and experiences with our mentors, and in return, you will receive valuable feedback. Mentorship will also assist you in conflict resolution as our mentors are likely to have experienced a similar situation and can offer you advice on how to rectify the problem. Learning to communicate effectively is a skill that takes time to cultivate. But it is one of your most significant assets as it will determine whether you can get buy-in from investors, customers and suppliers.
If you’ve been searching for mentorship in Cape Town, join the Golden Circle Mentorship Program to see firsthand how the benefits of business mentorship can take your business to the next level. Sign Up Today!