A mentor’s advice is the most important factor, leading entrepreneur on the path of success.

Ask any entrepreneur and you will know the biggest guiding light in their life, is their mentor.  Microsoft founder Bill Gates calls Warren Buffet, an investor and businessman, as his mentor. Even Facebook’s founder Mark Zuckerberg was mentored by Apple’s Steve Jobs.

So how does one become a good mentor to aspiring entrepreneurs?

Provide honest feedback – The entrepreneur looks up to a mentor for support and guidance. This guidance must come in the form of honest feedback about the product and services the entrepreneur is building / idealizing.

Lend experience – Mentors are usually more experienced in the fields than the nascent entrepreneurs who look up to them. So they lend not only their guidance, but also provide entrepreneurs with their experiences. This helps entrepreneurs to avoid mistakes made by their mentors and learn the lesson from them. Learning from the experienced helps one evade the same mistakes.

Network – Mentors help a starting businessperson develop a network by introducing them forth. Building a network is very essential for creating a successful business.

Asking questions – Mentors, not with intent of putting the person down, should keep questioning the ideals that the entrepreneur wants to build his startup on. This ensures the trajectory of the business becoming more concrete and strengthens the core ideals of the startup.

Takeaways:

• The entrepreneur looks up to a mentor for support and guidance.
• Mentors are experienced in the fields than the nascent entrepreneurs who look up to them.