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Starting a business is rarely a solitary journey. While I may be the sole founder of Jotform and have developed the core concepts behind it, my achievements are profoundly intertwined with the guidance and insights I’ve received from various mentors.
The concepts that have played a crucial role in Jotform’s ascent—such as my approach to hiring, which emphasizes financial preparedness—were inspired by the experiences of other entrepreneurs who graciously shared their wisdom with me.
My belief in the significance of mentorship for aspiring business owners is unwavering. Equally vital, however, is the act of mentoring others, a practice that can yield unexpected advantages for one’s own business. Here’s how mentoring impacts both sides of the equation.
Broadening Perspectives
One of the pitfalls of entrepreneurship is surrounding oneself with individuals who share identical thought processes. This is a key reason I engage in mentoring—every conversation with a budding founder reveals new insights that challenge my perspective.
Despite having two decades of experience in product development, I remain committed to lifelong learning. I dedicate time daily to delve into articles and podcasts to ensure I’m attuned to industry shifts. Engaging with my mentees about their innovative applications of technology, such as AI, offers a unique perspective that traditional media cannot provide. In helping them navigate the integration of new tools, I also reflect on how these lessons can apply to my work.
Mentoring requires frequent reassessment of my own ideologies. Much of my expertise is drawn from years of practical lessons, yet articulating these beliefs is vital. This process can either solidify my viewpoints or push me to reassess and refine them.
Developing Future Leaders
While it’s common for employers to seek out high-caliber talent, I prefer to cultivate it from within. Mentoring employees is essential for understanding their ambitions, boosting their confidence, and aligning them more closely with the organization’s mission.
At Jotform, we have established a program called The New Grad Training Program. We recruit recent graduates who exhibit great potential but may lack formal experience. Initially, they tackle support-related tasks, which may include quality assurance work or customer service interactions. Each week, they spend dedicated time with a mentor who introduces them to various departmental functions, such as attending meetings with data analysts or shadowing software developers. This initiative progressively prepares them for desired roles within the company, helping to transform them from novices into key contributors.
It’s easy to worry about the risk of investing in someone only for them to leave for a better opportunity. However, this short-sighted thinking overlooks research indicating that internal candidates not only exhibit high performance but are also more likely to remain with a company long-term. Conversely, external hires often have a higher turnover rate. My experiences echo these findings, as our organization maintains a minimal churn rate of 5% annually.
As Henry Ford wisely stated, “The only thing worse than training your employees and having them leave is not training them and having them stay.”
The Value of Paying It Forward
Many successful figures openly credit their achievements to robust mentoring relationships. For instance, Richard Branson, despite his entrepreneurial background, sought advice from Sir Freddie Laker during the inception of Virgin Atlantic. Branson has asserted, “I have always been a huge believer in the inestimable value good mentoring can contribute to any nascent business.”
Success, even for exemplary leaders like Branson, is rarely attained in isolation. My own journey reflects this reality, reinforcing my commitment to mentoring. I want others to know they are not alone on their paths, as the support from someone who believes in them can cultivate a remarkable sense of belonging. According to research from Gartner, “Belonging is a key component of inclusion.” When employees feel genuinely included, they recognize that the organization values them as individuals.
Although everyone needs a mentor, the reciprocal act of mentoring others is equally crucial. It fosters personal growth, strengthens professional relationships, and allows us to illuminate the paths of those around us, empowering them to carve out their own successes.
Source
www.entrepreneur.com