Why every entrepreneur needs a mentor?

PitchDot PitchDot will work with you to decide the best exit strategy be it a merger or an acquisition. We will work with you to determine the valuation of your company and do the necessary due diligence to decide if the company is attractive enough to be acquired by PitchDot.

Why every entrepreneur needs a mentor?

31. October 2020 01:55 by PitchDot in
Everyone knows that the first few years in a business are challenging and difficult, especially for

Everyone knows that the first few years in a business are challenging and difficult, especially for a first-time entrepreneur but it can be even more intimidating for an established company as they struggle with new issues they have not dealt with before. The pandemic has brought on new challenges and problems for business owners and most do not have the knowledge or the tools to deal with these things. What every entrepreneur needs is a mentor during these difficult times. Bill Gates was mentored by Warren Buffet and Steve Jobs was mentored by Bill Campbell and Steve Jobs later went on to mentor Mark Zuckerberg. So, why is it important for even such seasoned entrepreneurs to have mentors?

Knowledge and Experience

You can easily hire employees and tell them to do what you want to be done. Employees have expertise in their respective areas which is a subset of your overall business. But what happens when you have questions? Wouldn’t it be great if you could pick up the phone and call on someone who has the knowledge and experience in your industry or even in the exact challenge you are facing? This is where a mentor can provide you their expertise and knowledge. Not only are you able to tap on a resource at the right time, but it is also usually more affordable and effective. PitchDot has years of expertise in the technology and travel sectors.

Get a second opinion or perspective

Most entrepreneurs are too close to their business to see things from a different perspective. When you are dealing with an issue, it is extremely important to have a fresh perspective from a distance. Almost always, you will get new ideas and solutions when you get a second opinion. As an outsider, a mentor can help provide an independent perspective that you might easily miss being close to the business. In addition, a mentor might be able to connect you to other relevant resources for a solution. As an example, if you are thinking about shutting down your company, a mentor might be able to guide you towards a solution to stay afloat or connect you to someone else for mergers.

Tap into a larger network.

There is a famous saying that it is not important what you know but who you know. This could not be truer when it comes to business. It is extremely important to have a large network of individuals you can tap into for expertise and problem-solving. While there are sites like LinkedIn to help network, nothing is better than a mentor who not only knows the right person but may even have a personal relationship with the person.

At PitchDot, we have years of experience, knowledge, and relationships, which we can use to help your business. Whether the need is to help solve a problem, build an exit strategy, or connect to the right partner, we have the tools to help you succeed. There is no charge for the initial consultation so there is no reason to reach out and connect today!!!