Ask any successful entrepreneur about their most influential mentor and you may receive a variety of answers ranging from “my mom” to “Elon Musk.” 

The fact is that mentorship is one often cited source of entrepreneurial success. Bosses, venture capitalists, peers, or professionals in your network can offer a single piece of advice that can set an entrepreneur on an entirely new path.

The discussion around mentorship begs the question: Do you need a business mentor to be successful as an entrepreneur? Why or why not?

We asked a community of entrepreneurs about whether a business mentor is necessary. Here’s what they had to say. 

“How Did You Get to Be So Great at ____?”

I think we can all benefit from working with a mentor or guide in all aspects of life and business. Just ask any successful (and well grounded) person you know, “how did you get to be so great at _____?” I’m willing to bet they will attribute their success to the people who held their feet to the fire and helped pave the way.

Karen Nowicki, Business Radio X

Entrepreneurial Operating System

Mentorship is always encouraged for the business and the members of your team. Inviting a professional support individual into your experience can be scary, but incredibly rewarding. Our leadership team decided to use the Entrepreneurial Operating System (EOS) process and our mentor helps identify areas to grow or celebrate. Consider the knowledge of a business mentor and ways to incorporate lessons learned. As an entrepreneur your way of thinking is unique, but a mentor can share insights from a new angle.

Kelly Greene, SciTech Institute

They Deepen Your Perspective

I believe that having multiple mentors is imperative. Gaining perspectives from various leaders in different facets of business allows you to expand your knowledge as well as your depth and breadth of wisdom on a multitude of topics. Additionally, mentors can help you to avoid major pitfalls and setbacks, while still allowing you to chart your own course within your business.

Jodi Low, U & Improved

Blindspots

Mentorship is a vital piece of personal and professional growth. It is powerful to learn from someone who is where you want to be or has accomplished what you want to accomplish. Mentorship can take many forms but the best mentors are the ones who push you, challenge you and support you on your journey. The key to entrepreneurship is to be continually learning. A mentor can help you see your blind spots so you can grow stronger and faster than if you try to do it alone.

Jennifer Burwell, MAC6

Experience

I truly believe that anyone can accomplish anything they put their mind to, in spite of the doubts of others or the lack of support you might receive. But I do believe that some of the best entrepreneurs only became successful with the help of a mentor. When times get tough for entrepreneurs, as they often do, don’t be afraid to reach out to someone that has more experience than you to help you through the rough time. A mentor can offer perspective and advice that can put you back on the path to success. 

Kimberly Kriewald, Avana Capital

Your Future Path Could Be Someone’s Current Situation

My perspective may be different than others on this question as I am also co-founder of a 501c3 Non-Profit that provides Mentoring to Veterans. I know my success has been possible because of the influence Mentors have had on my career. We can’t see the future but our future often travels a similar path of others. Mentors bring experiences and perspectives different than ours which allows us to receive honest feedback and guidance beyond the thoughts we have in our own heads 24/7. As an entrepreneur, I constantly battle the internal conflict of “am I going to succeed” or “how am I going to make it work”. The time with my mentors allows me to reflect on those thoughts outside my subconscious to work through challenges and overcome obstacles.

Joe Pusz, The PMO Squad

External Support System

I believe that all entrepreneurs should either have a mentor, or belong to groups that are put together with other business owners, if for no other reason than to be able to have a support system with other people that understand how hard it is to build a business. Spouses or significant others are not always able to fully understand the struggles and it can lead to problems in the relationship. Vistage Worldwide has been a great support system for me.

Austin Peterson, Backbone Financial

Avoid Common Pitfalls

You don’t need a business mentor to be successful per se, but having one can certainly help you avoid common pitfalls when first opening your business. If you are navigating this path without a mentor, I recommend performing lots of informational interviews with people in the industry. Doing so can give you an unparalleled level of insight before making a significant investment in your business.

Vanessa Molica, The Lash Professional

Honest Feedback

It’s very helpful in one’s development to have an individual who can inspire you and also provide honest feedback. There is no one path to success that works for everyone. It’s really important to figure out what you really want for yourself.

Jonathan Cohen, Generated Materials Recovery 

View Data the Supports Mentorship

Looking at the data, 70% of mentored businesses survive longer than 5 years, which is when most small businesses fail. While technically speaking, 30% of small businesses can be successful without the help of a mentor, I’m not willing to take those odds. Having a mentor helps with encouragement, networking, and advice. They help keep you on the right path and share the burden of building a business. I truly believe in the power of mentoring! 

Chris Dunkin, Portable Air 

Have ‘Secret Mentors’

As the owner of my own company, I have made it to where I am without a formal business mentor. But I do believe every business owner should have someone to look up to through their journey! A lot of hard work and learning have paved my way through the ups and downs of entrepreneurship. The mentors that have truly shaped my business though have been other designers that probably don’t even know who I am. With the rise of social media, I have followed other business owners that do exactly what I do in other areas of the country and have looked to them for advice and guidance on how to handle problems we all face.  I call them my ‘secret mentors’. I have mentors that I have followed for years that I could probably contribute a lot to the success of my company.  No one needs to reinvent the wheel; having a formal mentor or ‘secret menor’ can help you succeed! 

Alisha Taylor, Alisha Taylor Interiors

They Validate, Advise and Give Opinions 

Starting a business can feel like a lonely journey. When you feel like you are innovating and developing something entirely new, it can be hard to feel like anyone has gone through your same struggles or frustrations as you. Reaching out to a business mentor is one of the most important things an entrepreneur can do on their journey! A mentor will be able to validate you on your feelings, advise you on how to move forward and give you their opinion when you are too invested to see clearly. The entrepreneurial process shouldn’t be a lonely one! Find a business mentor you trust can put you on the path to success. 

Kayla Centeno, Markitors 

Positivity and Encouragement

Our brand is all about being confident and thriving. When I started this company, I received many raised eyebrows and comments about the business I was going into. It was hard at times, but I didn’t just have one mentor that helped me through the process, I had a whole group of supporters with friends, family, and the medical community encouraging me to keep going. For every nay-sayer, I had 5 more positive ones that eventually led me to where I am today. Entrepreneurs need a support system to keep them going when times get tough! 

Stephanie Schull, Kegelbell 

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How did you start your business? What allowed you to succeed?

The origin story is one of the most fun parts about business. Hearing about how an entrepreneur started their business, and what pushed them to succeed is something that never gets old. 

You can take a listen to several inspiring origin stories on Phoenix Business Radio. But, to further explore the topic of starting a business, we turned to other entrepreneurs for their best tips for starting a business (and succeeding!).

Here are the best 11 tips for starting a business: 

• Write a Book You Would Want to Read
• Establish a Well-Connected Ecosystem
• Use Family as a Driving Force
• Listen Hard, Change Fast
• Keep Refining Your Products for Your Customers
• Keep Your Main Commitment in Focus
• Make Your Customer Perspective the Core of Business Decisions
• Surround Yourself with Brilliant Minds
• Don’t Do it All Alone
• Hold Firm to Your Purpose
• Actively Learn Something New Everyday

Write a Book You Would Want to Read

I set out to solve a problem that I was experiencing in my other business. I couldn’t find anyone who could fix the issue for me. So, like the saying goes, “If you can’t find the book you want to read, write it yourself.” I’ve found my way to success by offering that solution to other business owners. Now I get to surround myself with people who are accomplishing great things in life/business and I soak up everything I can from them.

Karen Nowicki, Business Radio X

Establish a Well-Connected Ecosystem

The Arizona Technology Council (AZTC) was established with the merger of the Arizona High Tech Industry Cluster and Arizona Software & Industry Association as the driving force to make Arizona the fastest growing technology hub in the nation. The Foundation, now doing business as SciTech Institute, was formed to provide educational programs about available technology; provide scholarships and grants for students pursuing technology careers; create community computer centers; produce reports on technology advancements and uses; and bring together volunteers from the technology industry to better serve the community. Establishing a well connected STEM Learning Ecosystem became the mission of the Foundation to build a statewide science and technology festival. In January 2021, we will host the 10th season of the Arizona SciTech Festival!

Kelly Greene, SciTech Institute

Use Family as a Driving Force

I started my business on a shoestring budget and quite frankly ran out of reserves very early on and needed to run up some considerable credit card debt to just be able to survive the first couple years. I was able to succeed by not being willing to fail, doing the right thing for the clients and knowing that I had a young family that was counting on me to succeed. My family has been the driving force behind everything that I have ever done. I try to live by the saying by David O. McKay, “No success outside the home, can compensate for failure at home”. With that as my driving force, I am laser focused on efficiency and providing stellar client service.

Austin Peterson, Backbone Financial

Listen Hard, Change Fast

Mailchimp monikered one of my favorite small business sayings of all-time: “Listen hard and change fast.” For a small business to succeed, founders and employees alike need to prioritize listening to their customers. Then, after listening to insights, a company needs to change and fast to fulfill needs. Customers tell you what they want if you listen hard enough. The more a business is willing to listen (and fail) the more successful it will be. 

Brett Farmiloe, Markitors

Keep Refining Your Products for Your Customers

We launched the Path to Promotion (P2P) in September 2019 after several years of hard work to develop and refine the content for our signature course – Success Accelerator. This involved surveying over 5,000 employees to determine what content they would want in a career development course, building, testing and filming a number of “test courses” to further refine the content then finally developing the end product. It was a lot of blood, sweat, tears and late nights. We are thrilled that in just under a year our business is now so successful, and has been featured internationally in publications like Forbes and the New York Post. It makes all the hard work worth it! Even better is that so many of our graduates have received pay rises or promotions, even in the pandemic!

Ineke McMahon, P2P Learning and Development

Keep Your Main Commitment in Focus

We opened our first European Denture Center in Caldwell, Idaho in early 2000 when we saw a growing need for dental appliances that were both comfortable to wear and were made using the latest dental technologies and materials. Since then, European Denture Center has expanded its service to include dentures, implant dentures, partial dentures, flexible partial dentures, night guards, and same-day reline and repair services. What allowed us to succeed? Keeping our main focus on excellence while committing to deliver comfortable appliances in underserved communities. 

Henry Babichenko, DD, European Denture Center

Make Your Customer Perspective the Core of Business Decisions

Our business started with the belief that people should enjoy a sanitary environment within restrooms. We began offering well known corporations and small businesses automatic bathroom fixtures like touch-free flushers, faucets, and dispensers. Several decades later we have warehouse locations across the nation to fulfill orders quickly so that employers can completely update and vastly improve the sanitation of their restroom area. Our success can be attributed to a commitment to our mission, and always putting the customer perspective at the core of our business decisions. 

Elliott Greenberg, TouchFree Concepts

Surround Yourself with Brilliant Minds

I started my business with a heart full of passion and an open mind full of questions that I had no fear in asking. I knew what my mission was, and is, and I did my best to ask people much smarter than me all of the business related questions I didn’t know the answers to. I continue to surround myself with brilliant minds who blow me away with their talents, and who allow me to focus on what I do best.

Jodi Low, U & Improved

Don’t Do it All Alone

We started MAC6 as a way to showcase all of the amazing work businesses in our community were doing. We have been successful through collaboration and developing partnerships that benefit both parties. Surrounding ourselves with a diverse group of people with a wide range of skill sets has been critical to our success. My best advice for a business owner is to find your people. Find the community that will support you, cheer for you and challenge you; don’t try to do it alone.

Jennifer Burwell, MAC6

Hold Firm to Your Purpose

Throughout our lives we run into moments where we are faced with making a difficult decision. We choose path A or B and then our lives are altered forever, or perhaps, they stay the same. This was my dilemma back in 2013 as Executive Director of the project management office for WellStar Health System in Atlanta, GA. I was unhappy at work and in a constant state of complaining about my circumstances. On March 3, 2013, my “empowerment date,” I made a decision to leave and start The PMO Squad, to end my unhappiness and start my entrepreneurial journey. I believe we’ve been successful over 7 years later because we are focused and committed to our purpose. Our purpose has remained constant, to empower people to deliver results. Through the ups and downs, trials and tribulations holding firm to our purpose has allowed us to empower employees, partners, and clients which have helped to make us successful.

Joe Pusz, The PMO Squad

Actively Learn Something New Everyday

I started my first business after I had my football injury, and couldn’t play the game I loved anymore. I wanted to work for myself and owning a business was the easiest way to do that! My first company didn’t go anywhere, but I learned so much about how a business is run and learned how to build a team. The connections I made and the skills I learned are what have helped me succeed. I take a lot of pride in learning something new every day and building a successful team I can rely on to take things to the endzone!

Loren Howard, Prime Plus Mortgages

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