Business owners who strive to become successful often need assistance. 

Many of them try to get the necessary information from classes and books. Although these can be helpful, nothing compares to having a mentor. These experienced individuals won’t only help you succeed as a businessman, but also to become a better person. 

Through a long-term relationship, a mentor can become your source of support, teaching, and wisdom. He or she can build your character and assist you in gaining a competitive edge. 

Here is a list of 9 benefits you get from having a mentor who wants to maximize your potential:

Improved Confidence 

One of the most significant benefits of having a mentor is improved confidence. With the guidance of someone who went through a number of challenges, you are bound to have a greater sense of resilience. 

It becomes easier to believe in yourself and your capability to overcome obstacles. Having someone who has been down a similar road makes you realize you can do it too. It’s a fantastic motivation, particularly when you’re feeling stressed out or disappointed. 

Vital Life Experiences 

In most cases, the mentor will be older than you, but regardless of age, they will be more experienced. Therefore, these individuals can share valuable lessons they have learned during the courses of their lives. 

As you can already guess, these lessons can be very, very valuable. Through life coaching, a mentor can help you lead a more meaningful life. Being able to learn from someone else’s mistakes lets you make better decisions in your own life. 

Personalized Advice  

By advising you, a knowledgeable mentor will work on your weaknesses and hone your strengths. 

You will be able to grow your business with tailored advice coming from the mentor. Unbiased, honest advice is essential for those wanting career progression. 

Therefore, it’s important to appreciate the connections and information he or she gives you. However, avoid relying solely on your mentor for every career break. After all, you’re the only one in charge of your personal and professional life. 

A Different Perspective 

Business and life mentors can help you perceive a situation from a perspective you otherwise wouldn’t consider. 

Here’s an example – imagine yourself as a new business owner (or don’t, if you already are one). You may find it difficult to look at your business through the eyes of a government official, potential investor, or a customer. 

A mentor can be of great help with this. He or she already had to deal with these people before and knows how your business looks to them. 

Expanded Network 

People who already experienced success in the industry have formed a number of relationships along the way. A mentor who wants only the best for you will connect you with important people. 

In turn, these people can connect you with other successful individuals. With an expanded network, building a career becomes much easier. 

Skills Training

One particularly important benefit of having a mentor is that he or she will assist you in developing your skills. A competent mentor will hone your strengths that are necessary for accomplishing crucial goals. 

The best mentors have already achieved what you’re aiming for. As such, they’re capable of identifying what you’re missing. This saves time you’d otherwise spend on searching for the right skills and gives you more time for self-development. 

Accountability 

When you’re trying to achieve a goal, the biggest challenge is to stay motivated. With a mentor by your side, staying motivated is much easier. The key is in having someone you’re being held accountable to. 

A good mentor always stays honest with you. If they think you’re not trying hard enough, they will tell you. If they think you’re making good progress, they will tell you that too. This kind of encouragement will keep you going even when things become overwhelming. 

A Long-Lasting Relationship 

Typically, mentor-mentee relationships are long-lasting, but some are short-lived. If you manage to hit it off right, the relationship you have with your mentor can become one that lasts for the rest of your career. 

Continued collaboration introduces a myriad of benefits. You will have both the resources and the consistency required to maintain a prosperous business. 

A Greater Chance of Success 

A number of surveys and researches have shown that business owners with mentors are more likely to succeed. A 2013 executive coaching survey, for example, found that 80% of executives had mentors. 

With an experienced mentor by your side, your chances of success in life and business are increased. Occasional checks, timely advice, valuable connections, as well as moral and spiritual guidance, are bound to leapfrog you to success. 

As you can see, having a skillful mentor in life and business introduces a number of benefits. Through a long-term relationship, he or she can assist you in achieving success faster than if you tried on your own.