Why Business Mentoring is Good for Small Start-Up Businesses
There are many difficulties that a small start-up business faces. This is a lonely endeavor for small start-up businesses that are not part of any network of supporters, since there are really many challenges involved. There is failure in most small start-up businesses and many are not able to sustain themselves for the first five years of their business lives.
If a small start-up business wants to be successful in its pursuit, there is actually a way to do it. And this is through the help of small business advisors or mentor that can provide valuable insight, strategy, and mentoring. If a business owner chooses to use a mentor, then he is twice as likely to survive the first few years of his business than one who does not.
Here are some benefits that a business owner can gain through mentoring.
These small business coaching services can help you know about others’ business mistakes and learn from it. Being aware of the mistakes of others can help you avoid them while making your business plans. Mentors will be able to warn new business owners of obstacles and how to hurdle them. If you business model has irregularities or flaws, then your mentor will be able to correct it before it hurts your business.
It is important for business today to be a part of social networking. A business mentor can help you gain access to important business networks and its connections. You can have more business opportunities with an increased profile as a result of your connection with your business mentor. If your mentor is a respected one, then you can easily be introduced to new connections.
Sometimes it is not very healthy to evaluate our own business because we can become too emotional about it and not see it objectively. Negative online reviews sometimes don’t matter to business owners. But a good business mentor will show you the importance of a good online reputation in today’s business world. You can heed this advice by trying to rectify or address the negative issue being spread by customers.
The services given by some mentors are for free. These mentors are part of a non-profit organization that aims to build relationships between small business owners and volunteer mentors. This is a risk-free opportunity to gain valuable, expert level advice from a mentor.
Higher revenues can be the result of taking your mentor’s advice regarding the conduct of your business. Recent studies have shown that there is a very great increase in business revenue is small businesses that were mentored compared to businesses that were not.
Don’t throw this opportunity away. Seek the advice of a good business mentor for managing your small start-up business and see the results in no time.