In life, in many aspects, when the stakes are high, certain things must be in place for you to win. In the business sphere, especially for small business owners, and startups – business mentorship programs are the achievement equalizers that should be in place.
No matter what business a person is in, the stakes are always high. The risks are constantly present, and every day there is a possibility a business owner could lose it all. Who do Entrepreneurs and small business owners turn to when they have critical business questions that need answering, NOW?
When a business owner has questions about marketing, inventory, corporate structure, accounting, eCommerce, and trademarks – participating in one of the business mentorship programs makes getting answers a cinch
What is a Business Mentor?
A mentor in business is someone who:
- Has extensive business experience
- Has a proven track record of business success
- Has proven to be a wise decision maker
- Is genuinely willing to share their knowledge
- Takes pride is seeing others succeed
Business mentorship programs typically involve seasoned business owners matched with Entrepreneurs in a specific niche or market. It is a pairing where experienced business people guide the aspiring Tycoons through difficulties.
Additionally, they help improve the bottom line, ask tough questions, and push them towards achieving the unachievable.
Here are some of the most pressing reasons why every Entrepreneur needs a business mentor:
1. Answers Questions And Provides Advice
In the dog-eat-dog world of business, nobody has the time or the inclination to answer questions big and small unless it helps them somehow.
One massive advantage of having a business mentor is that they can answer questions and give advice without tabulating your bar tab.
A mentor can quickly sort out complicated problems and help you pull the company through challenging times and onto the victory podium.
2. Shows All Dimensions of The Problem
A mentor can see perspectives that you never imagined existed; this makes problem-solving easier.
A successful businessman needs to look at every business decision from his customers, investors, community, and government agencies’ perspective.
A mentor is a person who works to illuminate things that are not so obvious.
3. Helps In Improving Your Core Skills
Mentors are innately interested in the development of your key business skills. It could be anything from sales and marketing skill improvement to improvement in your communication skills. They work with you closely so that any gaps are addressed immediately.
4. Tough Coach In Tough Times
A business mentor is an excellent person to have in your corner when challenges, stress, and frustrations begin pounding away at your dreams. You can vent your issues to your mentor in absolute confidence.
Venting to anyone else can be a wrong decision as they might take advantage of you and your company; this is why it is always better to have a trustworthy mentor as part of your support who never lets you down.
5. Assists In Business Expansion
One of the best things that business mentors do is help you network successfully.
With the many contacts they have established over the years, they are excellent sources to help you make great connections.
It is common knowledge that the more movers and shakers you connect with in business, the more successful you will become.
In the grand scheme of things, a great circle of business associates helps solve business problems.
The chances of successfully meeting prospective employees, employers, contractors, and even business partners double each time you take advice from your business mentor and meet a new person.
When you understand the power of networking, these connections are better than pure gold! The most successful business people always view such relationships as their most valuable assets.
6. Helps In Devising Strategies
Mentors are often called an “idea exchange.” Apart from answering queries, giving advice, and providing valuable industry contacts, they also help strategize so that you can take your business to newer heights.
They will not just tell you but also motivate you and help you synergize your company’s assets to create a positive environment and boost your employees’ morale in turn.
It is bound to happen even with the best-laid plans; you hit a roadblock and may not know how to address unhappy employees adequately, angry clients, or handle sticky money problems with creditors. Your mentor is the right person to approach when you are facing such difficulties.
7. Confidence Booster
Having a mentor that you know you can turn to in the most challenging circumstances gives you the confidence that you will do well come what may.
Business mentors will praise you when you do well and nudge you when you seem to be headed in the wrong direction; it is like having a Super Bowl winning coach by your side.
The fact remains that the mentors and mentees both benefit equally. In helping their mentees, they can also improve their business skills. They can come across newer ideas, meet new clients, and learn new business strategies.
There is no doubt that kick-starting a business is a challenge. But anyone can ace it if they have the right mentoring in place, especially in the early stages.
Having gone through similar trials and tribulations in life helps business mentors bring experience to the table and the assurance that you will turn the worst days into brilliant successes.
If you are an aspiring Entrepreneur, or maybe you’ve been in business a while but just haven’t accomplished what you anticipated, joining one of the business mentorship programs such as SCORE, Vistage, SBA, or the Small Business Development Centers is your solution!