As we reflect on how far we’ve come on our entrepreneurial journey, it’s hard to ignore the lessons we learned along the way. Throughout our careers – there were wise voices that emerged to give us the insight and motivation we needed to keep pushing forward. Now it is our duty as successful entrepreneurs to reach back and share that wisdom with the next generation of business owners. That is the golden rule of entrepreneurship. We must find opportunities to pass on the success secrets that made us who we are today.

10 reasons to become a business mentor:

It is a great act of kindness
A new entrepreneur faces rough waters at the start of their career. Offering a helping hand in times of need is one of the most generous things you can do.

It makes you evaluate your own ideas

Sharing your business philosophies with a mentee is a great way to perform a few checks and balances on your standards. As the market changes, old rules may not apply anymore, and sharing with someone is a great way to identify any outdated practices.

It can offer a new perspective on your work

When you’ve seen your business a certain way for an eternity, a new set of eyes may be just what you need to infuse your product or service with new life, or discover a new use and market.

It allows you to acknowledge your accomplishments

Most people don’t like to pat themselves on the back. But sometimes it is beneficial to sit back and take stock of your triumphs. Being a mentor is a guilt free way to consider how far you’ve come.

It inspires the next generation of entrepreneurs

In your difficult moments, someone extended a hand to help you. Someone encouraged you to become great. Pay it forward by offering that kind of guidance and support to the next generation. Be inspiring.

It can keep you up to date on current trends

Staying informed is the best way to stay on top. Having a mentee who is immersed in the current culture could give you a heads up on changing trends.

It forces you to use your talents

After years of success, your work may not require you to dig in as deep as you did at the start of your career. Mentoring motivates you to dig deeper, and challenges you to come up with new ideas to old problems. It’s amazing what you can come up with when you have young eyes hovering over you, eager to learn.

It expands your network

You never know who will be the next business superstar. By mentoring a newcomer, you get to know more professionals and expand your Rolodex’s reach.

It keeps old principles alive in the next generation

Instead of complaining about how young entrepreneurs are cut from a different cloth. Take the time to steer them into the right direction. And preserve the legacy of success that was passed on to you.

It may result in new business partnerships

Your mentee may have great ideas that work well with your business goals. By coaching them along, you can move from mentor to profitable business partners in no time.

There are great advantages to offering yourself as a mentor, so don’t hesitate to exercise the golden rule of entrepreneurship. Do your part to pave the way for those on deck.

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