Business mentors are fast becoming a crucial thing for startups and SMEs to have access to, but what are the advantages of hiring one? Should young entrepreneurs figure things out themselves, or should they channel their resources into a mentor that will guide them? Find out with our top five reasons to hire a business mentor.
Many entrepreneurs, especially those who are starting out for the first time as the head of their own venture, are unused to the idea of being their own boss. As a result, they are unfamiliar with what happens when everything in the business is essentially their responsibility; if things don’t get done, it’s no one’s fault but their own! A business mentor helps to hold managers accountable, helping them to achieve their goals by staying on track and realising that there is more to running a business that dictating your working hours and doing the hiring and firing.
Another struggle that comes with running a business is the ability to see your project clearly, without bias or preference. A business coach offers a fresh pair of eyes that can help owners see the bigger picture. Without the personal attachment an owner has with their business, mentors can offer impartial advice for the good of the entire brand, even coming up with ideas that may not immediately be obvious to those involved with the company.
Support and Advice
Running a business is rarely plain sailing, and it can be difficult to know who to turn to for help when the going gets tough. A mentor is someone who has been through it all before; they have seen businesses fail through poor decision-making, and they have guided other businesses from the brink of ruin to a position where they are profitable and successful. It’s true what they say: it’s lonely at the top. Support and advice are invaluable for business owners who want to reach the zenith of their industry.
As someone who has founded a business and worked on it from the ground up, it can be very easy to get carried away with details. Mentors help managers to focus on the overarching issues that come with managing a business, rather than micro-managing every tiny element that keeps the business running.
Mentors help with the overall process of goal-setting. They can help managers and owners to establish the direction in which they would like to take their business, and they define the short-term and long-term aims that will help them achieve these goals. This process is crucial in growing a business, because without a strategy and without these important goals, a business can become wayward and can quite easily end up heading off-track and never reaching the final destination.