Women’s Entrepreneur Day 2020: Why Women Entrepreneurs Need Mentorship

Women’s Entrepreneur Day 2020 celebrates successful women and provides an opportunity for mentorship. Read on for a detailed insight into why we need women in the entrepreneurial world and the best way to find female entrepreneurs who will mentor you.

Why Women Need Mentors 

Mentorship is critical in entrepreneurship, especially as you move up the ranks. The majority of mentorship programs are informal, stemming through business relationships or friendships, and typically rely on authentic conversations and modeling behavior. Alternatively are formal mentorships created through membership in organizations specializing in mentor-mentee relationships. In both formal and informal relationships, established entrepreneurs help novices learn the craft of leadership and to navigate entrepreneurial undertakings. It is a dyadic relationship where the more experienced provide support and workplace guidance to the less experienced.

Notably, business owners who use mentors are more likely to succeed than those who do not leverage the experience and knowledge of more experienced role models. It’s also true about 70 percent of business owners with mentors survive longer than those without mentors.

How Can I Find a Women Entrepreneur to Mentor Me?

Here are a few tips for finding a women entrepreneur mentor:

• Join a professional women’s group offering formal mentorship, either paid or voluntary. 
• Organize an event inviting women entrepreneurs.
• Send a private message introducing yourself to a female business owner through social media platforms like LinkedIn. Offer to buy her a coffee for her time.
• Form a Mastermind Group (a form of peer-mentorship meeting in person or virtually), and meet weekly. 
• If you’re not ready for a formal mentor relationship, accelerate your growth by identifying a friend or colleague who you can speak with in confidence and who provides guidance. 

Get the Most from Your Mentorship

The mentor-mentee relationship is, well, a relationship. After identifying an entrepreneur who you trust, respect, and believe you can learn from, what’s next? 

• Ask questions. Your mentor has signed on to provide insight and guidance by asking thought-provoking questions. These questions should spur deep conversations and leave you thinking about the answers for hours, days, and even months to come. 
• Be honest — with yourself and your mentor. Starting your business endeavor is exciting and a little scary. Be honest about the inklings of doubt. Voice your inhibitions and be open to feedback.
• Know what your goals are for the relationship. Before you get started, you and your mentor should create ground rules for the relationship and establish a big picture goal. 
• Give as much as you get. Successful leaders are life-long learners. You have as much to share as you have to learn, so don’t be afraid to share advice as well. 

Become a Mentor

Those who benefit from mentorship are compelled to give back to the community. This is very common and maybe you would love to do it, too. And so the cycle continues with today’s entrepreneurs. As a result, this helps to see tomorrow’s own version of success.

Celebrating Women’s Entrepreneur Day 2020

There is no doubt if we want to create a better world and a stronger economy, we need to spotlight more women. Women’s Entrepreneur Day 2020 celebrates successful women and those looking to gain success as an entrepreneur. Typically, soliciting a female mentor’s help is key to providing aspiring women the opportunity for personal growth. 

The foundation of any successful business can be mentorship. When women undergo mentorship, they learn new avenues for success and narrow the gap in male-dominated entrepreneurial leadership positions. Put the above tips into use and there is no doubt you will find a mentor quickly.

Check out our website to learn more about how the SCI online Business Administration program can help support your aspirations of becoming a business leader.