Why Small Business Founders Need Mentors
Startup founders are perpetually busy establishing their businesses, developing growth strategies for existing operations, building networks, and creating partnerships to help their enterprises grow. If you’re a founder, you are responsible for making all of the crucial decisions. For first-timers, it can be difficult to adjust to changing circumstances and new business equations. Do you sense unforeseeable challenges? Are you feeling the pressure of being the one-man army in your business?
The unfortunate truth is that 50% of small businesses fail in the first five years. Why? To a large extent, it is due to founder’s lack of business experience. We’re sure no one wants to be on the losing end of that equation! Therefore, it’s time you seek the expert opinion of a mentor. Being able to consult with a mentor, particularly someone who intimately knows what you’re going through, can be invaluable. A mentor can help you refine your business strategy, map out the right direction for your business, and assist in setting goals for your business to succeed.
An important Gallup survey indicates that those who have access to a mentor are three times more likely to say that they are planning to start a business than those who do not have a mentor.
Which brings us to the most important question: Who is a business mentor, and why do you need them?
Take a look at successful businesses around you. The one thing that lies at the heart of their stories is that all of them had professional mentors watching their back before they launched their businesses. For successful small business owners, a mentoring guru can and should be their springboard.
By finding your area of interest and absorbing advice from people who have been successful in their own small business, you can get a sense of what the work is like on a day-to-day basis. You get to learn what has worked for them in the past and what failed. Business mentors can help you look at problems and situations from perspectives you may not have considered. As a founder, you may have trouble looking at your business through the eyes of your customer. Your business mentor will help you deal with this and understand your customer’s perspective.
Your mentor will open many doors for you. You will get to meet potential partners, customers, and decision-makers in your target market. Getting introduced to new connections via your mentor, rather than meeting them randomly at an event, adds great value and legitimacy to the business prospects.
The bottom-line is that mentoring is a net positive experience. If you’re just getting started down the path to business ownership, MentorCloud can be your perfect guide. Seeking the help of expert mentors through MentorCloud can bring incredible value to you and your small business, so schedule a demo today!