What is a business mentor (and do I need one)?

The top 3 benefits of finding a business mentor when you’re looking to launch a business.

A mentor is a seasoned professional who informally helps guide a lesser experienced person in their endeavours, like starting a business.

Typically, a business mentor will be someone that can consult on every aspect of running a business like a CEO or MD, or someone that has specific knowledge in one area, like logistics or HR.

Finding an experienced mentor in your network and industry that holds the same values can be extremely difficult, if someone doesn’t offer their time up, how do you approach them for free advice? Equally, if they don’t offer their advice for free, can you afford to pay for it before your business is making a profit?

So is finding a mentor to support you when looking to start a business worth the effort? We think so! Here’s why:

1. A mentor can help build your confidence when making decisions.

When starting a business, you will be faced with big decisions every day, which supplier should you pick? Should you set up as a private limited company or a freelancer? What courier service will ensure that your products are delivered on time and safely? Many of these questions you may feel confident answering, but who can you turn to when you’re not 100% sure? Hearing firsthand experiences from the mentor can be the reassurance that you need to make a big decision or avoid common mistakes. Part of being a mentor is being willing to share both their highs and lows with you as a mentee, they will listen and offer an opinion when asked, after all, they have probably “been there and done that”.

2. Mentor advice can help to grow your small business.

If your business is already ‘off the ground’ but you’re looking to take it to the next level, mentor advice can be invaluable. Scaling up a business can come with huge financial and emotional strains, so having someone to speak to and guide you through the process can be a big weight off your mind. If you don’t find yourself needing support from a mentor in the earlier stages of your business, we recommend that you don’t rule it out, and look to start a relationship with a mentor now. Mentors love to share their experiences and it’s almost impossible not to be inspired by what they have achieved. Being set challenges and targets by a mentor could even be the launchpad that allows your business to grow sooner than expected.

3. Advice from a mentor will improve the way that you work.

When you’re running a successful business, it can be easy to settle into a routine completing the daily tasks that are needed and then sitting comfortably knowing that your business is doing ‘well enough. A mentor can challenge how you spend your time and why you have settled into completing the jobs that you have, in the time that you set for them. By being challenged by, and being held accountable to a respected influence, mentees become highly motivated and answer the big questions which they often avoid. This questioning can often lead to increased productivity and better business performance.

Now that you’re clear on why you need a business mentor, the question is where can you find one?

Connectr have established a free mentoring platform to ensure that the entrepreneurs and business owners of tomorrow have access to business mentors and consultants, as well as online courses created in partnership with LinkedIn and Sage; to support you as your business is established and grows.

To find out more about Connectr or register for a 1-1 chat with one of their mentors for free today, visit their website.

Connectr - Thinking about starting a business? Get support from a free business mentor

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