If you are an entrepreneur, or run a small and slowly growing business, you are likely worried right now. With the current coronavirus crisis that has impacted businesses everywhere, small businesses are the ones that are most hard hit.
As we begin to look toward getting back to normal it is obvious that we certainly live in the most challenging times for people looking to grow a small business. And in these times the need for business mentoring has never been greater.
What is a Business Mentor?
A business mentor is an experienced business executive or company that works closely with you to help grow your business. They offer time, wisdom, and resources that positively impact your company. They also offer a shoulder to lean on when you are going through challenging times, and as importantly they give you sound advice it helps you to minimize those challenging times. Here are a few things you should look for in a business mentor.
Here is What You Should Look for in a Business Mentor
The business mentor that you work with should be experienced in business in general and in your style of business in particular. The company should have a long list of achievements at growing your type of business. The business mentor will use this experience to help you avoid unforeseen problems, and to solve any current problems that your business is having. You’ll also be able to help you position your company optimally to be prepared for tomorrow.
The business mentor you select should have a successful track record in both running businesses and in helping other businesses to succeed. They will use this prior knowledge for your company’s benefit. Never engage an inexperienced business mentor. The risk is too high that this person or company will not perform.
The business mentor that you select should be passionate about your company. This passion should manifest itself a commitment in time, energy, contacts, and other resources that will help your business have the best chance to succeed. If you are struggling to get the time or focus from your business mentor, or if the mentor is reluctant to utilize resources they possess for your benefit, this is likely the wrong business mentor for you.
Finally, you should have a great working relationship with your business mentor. Growing a small company is tough and the business mentor should have a compassionate approach toward your current situation and the efforts that you are expending. This compassion will cause you and your team to be more motivated to Institute change. So make sure that the business mentor you select is someone who understands and cares for you.
Discovering and executing those things that translate into business success should be more than luck or what you can think of as an entrepreneur, it should be what you learn with the help of an experienced business mentor.