Learning how to run a business is not an easy task. It requires a lot of trial and error, patience, and persistence. Even then, you may feel overwhelmed, isolated, and burdened with constant pressure as you wait for your business to take off. This is likely why half of small businesses fail within the first five years of creation.
So, what is the key to ensuring that your business makes its way to the side of success? The short answer is finding a mentor to help you. In fact, finding a mentor to partner with you doubles the chances that your business will survive after their first five years. If you want to see your business succeed, start looking for someone willing to help you and share insight into the business world.
Mentors can appear in a variety of forms. Essentially a mentor is just someone that possesses more knowledge and skills in the business realm and is willing to share their insight to help you improve your business. A mentor can provide insight and support into pretty much any area that you may need, whether it be helping to find a creative way to market your product or providing knowledge about financial procedures to help with the accounting and finance sectors of your business. A good mentor will help you make informed decisions to best support your business, especially in its early stages.
Now that you are ready to begin looking for a mentor, where do you start? The best place to start is within your own network. Think back to people whom you may have interacted with throughout the years that seem to be making an impact on their industry. LinkedIn is an excellent resource to utilize when searching through your network and finding knowledgeable people in your industry. If you find someone throughout your search that you have not formally met, don’t be afraid to reach out. Most people are willing to accept a personal invitation to talk and provide professional help. This may seem intimidating, but a casual conversation with the right person can open many doors. If these methods don’t seem to be working for you, try attending a professional event. Professional events are designed for people to network and grow their professional relationships, so this is a great opportunity to meet a potential mentor.
Once you have identified a person that you would like to be your mentor, discuss with them what kind of relationship you are looking for. It is important to discuss your expectations to ensure that your mentor is willing to provide the guidance that you are looking for. Once you have established your relationship you are ready to start learning! Remember to be open minded and willing to learn in unconventional ways.
Forming a good relationship with a mentor is one of the best things that you can do as you are starting a business. The right mentor can provide you with invaluable information and perspective that is sure to help grow your business.
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