Whether you’re new to owning a business or an experienced entrepreneur, having a mentor can make navigating the challenges of starting or managing a business much easier. Most business owners agree that mentorship is valuable. A survey by Sage found that 93% of small and medium-sized businesses recognize the benefits of having a mentor, but only 28% actually use mentoring services.
Take advantage of National Mentoring Month to give your business a boost by understanding these key benefits of business mentorship:
A mentor can guide you through unfamiliar business stages. Every stage of owning a business brings new successes and problems. Instead of facing these unknowns alone, having an experienced mentor can be incredibly helpful. For instance, the SBA resource partner SCORE offers free small business mentoring at more than 250 chapters nationwide and online via video chat. On SCORE’s website, you can request a mentor who has expertise in your industry, which will save you valuable time and energy in the long run.
A mentor can provide a fresh perspective on obstacles. Every small business owner encounters challenges. Sometimes, being too close to a problem can hinder finding the right solution. A mentor can help you step back and view the situation more objectively, offering solutions that fit your business. Beyond SCORE, expert business advice is available through the SBA’s Small Business Development Centers, Veterans Business Outreach Centers, and Women’s Business Centers.
A mentor can help expand your network. Ideally, a mentor will introduce you to various business contacts. For example, if you have questions about a particular issue, your mentor might know someone with specialized knowledge in that area. They can also guide you on which local networking groups or industry organizations could be beneficial for you to join.
A mentor can help you identify and use available tools and resources. Many new business owners feel overwhelmed by the vast amount of information on entrepreneurship. It can be tough to know which resources to trust, and busy business owners don’t always have the time to sift through everything. A mentor who has already navigated this landscape can be invaluable. They can provide you with trustworthy tools and resources you need to succeed, including those from the SBA.
