SCORE is the nation's largest network of volunteer, expert business mentors. More than 11 million small business owners have been helped since 1964.
With all of those mentoring experiences, what are the benefits business leaders personally receive by serving as a business mentor?
To identify these benefits, we asked expert business mentors about their experiences in guiding entrepreneurs towards success.
Here are eight benefits of business mentoring from business mentors.
- Increased Confidence
- Seeing Business Through Fresh Eyes
- Watching the Growth of a Hungry Business Professional
- Shifted Priority Towards Investing in People
- You Win a Big Fan
- It Reinvigorates Your Own Business
- It Drives You to Think Differently
- Mentorship is Simply Fun
Being a business mentor personally benefits me by giving me confidence! By mentoring someone, I am constantly able to test my skills and solidify my expertise in various verticals. With this confidence, I am able to take more risks in my career and reap the benefits of those risks.
-Nikitha Lokareddy, Markitors
Seeing Business Through Fresh Eyes
The biggest benefit I receive when mentoring is seeing a business through fresh eyes. I’ve been in my industry for over 30 years, the ways I built my business are still relevant, but often an idea is brought up that expands on those methods with new technology. For instance, following up with a client is key to getting the sale. Today, you can have software do that with texts, emails, and calls that are automated. Merging that with personal outreach has been a game-changer for new businesses. Exploring ideas with my clients has helped me grow at the same time.
-Anthony Baumer, Old Grey Tiger Consulting
Watching the Growth of a Hungry Business Professional
It feels good to help someone hard-working, smart, hungry and puts in the work. You get to watch them grow and mature as a business professional and a person. Kinda like watching a kid grow up into a stud. Then you have friends for life, you can always call on them in the future to help you when needed, and they pay it forward. It feeds your soul.
-Loren Howard, Prime Plus Mortgages
Shifted Priority Towards Investing in People
Serving as a business mentor is a way to “pay forward” the investment my mentors made over the years. I always enjoyed building programs and platforms, but when I began to see the results of growing people, my priorities shifted dramatically. I take time with those who display talent and a strong work ethic, regardless of their title. I challenge their assumptions, inspect their work closely, and draw them out of their comfort zone, being careful to set the stage for personal and professional success if they will accept the challenge. Engaged and inspired people are contagious within an organization. It is the best way to ensure future success.
-Crystal Mullins, TechnologyAdvice
You Win a Big Fan
Your mentees can become great contacts Anyone enterprising enough to reach out to you for mentorship is probably going places. By mentoring someone, you’re going to win a big fan in the process. It may not benefit you in a concrete way, but serving as a mentor could very well give you good contact, a client, or maybe even someone who can mentor you down the road.
-Elliot Brown, OnPay
It Reinvigorates Your Own Business
There are few things as exhilarating as first starting your business. Those first few years are a constant adrenaline rush, like a roller coaster that never stops. As your business hits its stride, though, the roller coaster slows down and can even become monotonous. When this happens it\'s easy to forget the passion that you had when you were starting. You’ve traded passion for experience and wisdom. When you become a business mentor, though, you can trade that wisdom for another shot of adrenaline. Helping a small business owner who’s just starting can remind you of the passion you once had and reinvigorate you when it comes to running your own business.
-Phil Strazzulla, Select Software Reviews
It Drives You to Think Differently
I love what I learn when working with my mentees! They are hopefully learning a few things from me as their mentor, but their curiosity and questions drive me to think about things differently, research issues I might never have otherwise, and stay more current with issues that are important to those who are less seasoned in the profession. I often ask for their opinions and input on my projects, which provides me with more insights prior to finalization, as well as giving them some ‘real world’ ways to contribute while they are learning.
-Colleen McManus, Senior HR Executive, and Consultant
Mentorship is Simply Fun
It’s fun for me to see other business owners not have to go through the same struggles as I had to. That probably sounds weird. It’s rewarding to see the look on their faces when you tell them something that they then realize is a truly good piece of advice. Not everyone knows what they are talking about, and tons of people will offer advice that shouldn’t be given out advice, so being able to truly help someone else is fun for me. I certainly don’t know all the answers, I do know some of them though.
-Ben Walker, Transcription Outsourcing, LLC