As a business grows owners may be in a position of managing more and more areas of the business that they are less familiar with. The owner’s original background may be manufacturing but now oversees finance, sales and HR issues.
An experienced business advisor may help develop these skills and improve decision making as the business grows.
Here are a few examples of the benefits of mentoring:
1. Expert Advice
Above all, business mentors have “been there, done that.” They can offer you expert advice and guidance based on actual experiences — successes and failures included.
The insight that business mentors can provide because of what they’ve been through with their business ventures, and over time, is tremendously valuable from a practical standpoint.
2. A Different Perspective
Consulting with a business mentor can be a great way to gain a different, fresh perspective. It’s easy to get caught up with your ideas to the point of questioning, confusion or second guessing – and having a sounding board in a business mentor is a great way to work through some of those kinks and broaden your own outlook.
3. Improving Key Skills
Mentors are not consultants who focus only on key business results. A mentor can help develop an owner’s business management skills, improve communication skills and facilitate further growth in the business.
With all that experience likely comes a vast network of industry connections. Your mentor can help open doors so you can meet people – potential partners, customers and decision-makers in your target market.
There are many other benefits, and if you’re just getting started down the path to business ownership – or have been there for some time – and are looking for some guidance, consider reaching out to a business mentor to help you along the way.
You’ve got nothing to lose – and a world of business insight to gain. I hope you find these ideas have merit. Please let me know. Gerry@polarisgrpoumc.com