Business mentoring is an area which many young business owners look into, especially those innovators who are looking to create something which is brand new. The people who work within business mentoring have great amounts of knowledge in both business as a whole, and individual industries and sectors, and they are able to play a key role in the success of so many businesses. It can be a very tough thing for a business owner to seek mentorship but the truth is that in doing so they will be able to greatly boost their chances of finding success. Let’s take a look then at what exactly business mentoring is able to help with.
There are two types of business owners who require a reminder of the very basic principles of business. On the one hand you have business owners who have a created a wonderful product, who’s speciality is really in design rather than running a business, these people may have created a salable product but they lack the required acumen to really nail the running of a business. The second type of person who may need this type of assistance is someone who has been running a business for a long time and who has moved away from those core principles which helped them to get to where they are. Both of these individuals can be greatly helped with mentorship.
Mentoring can also be a great tool for understanding where the priorities of the business should be. As a business there are multiple things to juggle and that can confuse the priorities which owners should have in their mind. This is why many businesses move away from their focus on the customer, or why they poorly recruit, it comes down to management of priorities, getting that right is how to solve the puzzle that business presents and a mentor can certainly support with that.
Mentors are not there to tell business owners what to do or where they are going wrong particularly, but rather to offer advice and guidance. One benefit which many business owners can count on from a mentor is that they can help to re-align their focus and get back to doing what they do best. For example many business owners micromanage too much and that prevents them from being objective, others take on too much, and some take on too little, a mentor can help balance these responsibilities.
Not necessarily a reason for hiring a mentor but certainly a benefit which they bring with them is the fact that they can connect businesses together and offer up a great list of contacts. This can help businesses to form alliances which are beneficial to both, as well as helping each other to share great ideas, resources and make deals. Considering that a mentor will work with numerous businesses, the idea of connecting them makes perfect sense to all parties involved.
This is just a small sample of what a business mentor is able to help with.