Achieve more with a business mentor

Achieve more with a business mentor

Achieve more with a business mentor

How a mentor can help your small business achieve big success

How a mentor can help your small business achieve big success

Getting a business mentor is one of the biggest boosts you can give your small business. Want to get the help you deserve and build your customer base? Read on.

You may have an excellent business idea, and tireless passion, but business inexperience can pose a real challenge to your growth potential. However, newcomers to the business world can boost their understanding and avoid mistakes caused by inexperience.

One option is finding a business mentor.

A mentor is a source of guidance and encouragement in the development of their mentee’s business.

What can a mentor provide?

  • Exposure to new opportunities, ideas and innovative solutions

  • Advice on how to overcome challenges

  • Guidance on financial development

  • New skills and knowledge

  • Ideas on ways of working: planning, performance and productivity

  • Broader business networks

By sharing their knowledge, expertise and experience, mentors can help small businesses set goals and track their growth more effectively.

How do you find the right mentor?

Apply for Business Grants

  • Grants often include being given a business mentor aligned with your specific business needs, who can help you grow your business.

Attend networking events

  • Networking events are designed to put people in contact with one another

  • Find experienced business people aligned with your industry or area

LinkedIn and Twitter

  • Social media - specifically Twitter and LinkedIn are the big players for connecting with professionals

  • Introduce yourself with an intelligent or insightful message that you think will appeal to the mentor

Small Business Development Centers

  • Small Business Development Centers (SBDCs) are independent organizations providing resources, expertise and advice to emerging entrepreneurs

  • Seek out one or a similar organization in your area

Industry centers

  • Industry expos

  • Conferences or speaking events regarding your industry

  • Look in places where you would be if you were an experienced professional in your industry - are there certain groups that you would join?

How to work with a mentor

1. Ask questions, ask for advice

Your mentor is experienced in the business world, and likely in a similar industry to your own. Take advantage of this wealth of information at your disposal and ask as many questions as you need. They are there for you.

2. Get a new perspective

See problems and understand challenges from a new perspective - your mentor may offer an experienced or more informed view that may differ from your own and help you overcome problems.

3. Learn better core management skills

Mentors can advise on more than just business performance, they also can help you develop key skills and competencies to improve the way you run your business.

4. Gain more financial know-how

Business mentors can share their financial insights and experiences. This can include helping you secure access to funding, developing strategic financial goals to boost growth and more. Additionally, mentors will often introduce you to the right contacts to support specific needs in your business if they aren’t able to help themselves.

5. Develop confidence to take on greater business challenges

With your mentor’s wealth of experience and knowledge guiding you, difficult business situations are easier to overcome.

Mentors can make a significant difference to small businesses as they navigate the tumultuous water of early growth. From financial insights to helping you raise your company profile, the mentoring relationship offers reciprocal benefits for both mentor and mentee.

To learn more about growing your business, read more from our Small Business Center library on how we can help you achieve more today.

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