Gearfuse Technology, Science, Culture & More
Mentors are more than just advisors; they are people who have spent a large chunk of their lives doing what you’re dreaming of doing. They know the ups and downs of your ideas and even the cheap mistakes that could cost you your dreams.
Being a student and an entrepreneur are two completely different things. The former demands that you spend a good amount of your time preparing for what’s to come. In other words, there’s a system for you to follow, and if you follow the laid-out steps in that system, you’ll eventually get the results you want.
Innovation and entrepreneurship? That’s a whole different story. Depending on the business or idea you’re working on, there might be no specific system to follow aside from your intuition on what you think might work.
But to succeed in any business or venture, intuition is not enough! You can’t afford to make so many mistakes along the way and give up on your dreams. This is why mentors are an essential part of your journey.
They might not provide you with all you need to start your business or secure investors for that brilliant idea you’ve come up with, but one thing they will certainly do is guide you on how to go about these various steps and the best approach to use.
They Understand Your Situation
Like it or not, every mentor was once like you—young, inexperienced, wild, hopeful, delusional, and here’s the best part—flowing with great energy to conquer the world.
These are traits that define youth. However, while they are each unique in their various capacities, they can often lead you to failure quicker than expected.
How? You’re not just a “youth.” You’re a student who has an academic responsibility to tend to. In any case, you’re probably managing a full course load, possibly working part-time, and maybe even trying to maintain some semblance of social life, all while dreaming of becoming the next Elon Musk or Warren Buffet. But life doesn’t work that way.
Add to that your little to no knowledge of the industry you’re about to enter. And don’t say, “But there’s Google and AI chatbots.” A search engine or chatbot cannot give you the details you need to thrive in a business. Of course, they can offer tips and general advice, but how reliable are these tips they’re giving you? Not so much.
But in all these, a mentor knows exactly what you’re going through, some of the thoughts in your head, and even important factors your mind has not processed yet. They can offer you personalized counsel and even provide you with resources to understand the industry you’re about to enter and what it will require from you.
Their Role in Your Journey
Running a business as a student is not the easiest of things to do. While your mind might have convinced you that converting your idea into a lucrative business won’t require much, the reality is quite different.
To turn your simple idea into profit, you’ll need:
- Some level of experience
- Good business skills
- Finance
- Investors (if it’s a big idea)
- A solid network
You may not have all these components in your arsenal at this stage in your life, but you can still acquire them with a good mentor.
They will share their solid network, advise you on smart fundraising strategies, recommend books you can read to gain some business skills, and even show you habits and experiences that have made them fail in the past so you can avoid them. This is what a mentor can offer and how easily they can guide your dreams into reality.
In an article by Investopedia, they described experience and knowledge as the biggest reasons why 45% of new businesses fail within the first few years. If you want to avoid this category of failed businesses, then you must get someone who is experienced in your industry, believes in you, and is willing to sacrifice the time and resources to train you.
How to Find a Mentor
Now that you’re still in school, it is easier to get a mentor. There are many methods you can use to your advantage, like;
Making use of your school’s entrepreneurship centers: depending on the university or college you are attending, there may be a dedicated center for entrepreneurship, and they may even offer mentorship programs you can benefit from.
Connecting with your Alumni Networks: Google for alumni entrepreneurs who are already thriving in your select industry, and visit your school’s alumni office to find out how you can get their emails or phone numbers to connect with them and ask for their mentorship.
Attend local startup events: start keeping tabs on upcoming networking events, startup weekends, and hackathons around or outside campus. These are great places to find the ideal mentor for you.
Join an Entrepreneurship Club: find out if there are any entrepreneurship clubs in your school, or look for any outside campus and join. Clubs like these usually hold occasional networking events where you can meet a mentor, and they even host startup pitch competitions where you can win medals and trophies and attract the attention of investors who like your ideas.
Approach Method to Use
When you find a mentor you like, don’t rush up to them and ask for them to be your mentor. They will decline and leave you feeling rejected. Instead, get their contacts, names, and emails, and go home to do your research about them.
Learn about their background, achievements, and what interests them. Then, through your findings, devise a strategy to contact them respectfully. Base your conversation on what they may have said in the past and how you would love to understand what they meant by it. Gradually, you’ll develop a relationship; then, you can ask them to mentor you.
Going directly at them will only lead to rejection, so keep that in mind, and good luck with your dreams!
