How a Mentor can increase the success of your business

Mentoring is a commonly overlooked but critical tool for business owners. Where one lacks experience, the right mentor can provide invaluable advice, insight and assistance to you and your business. Here we look at six of the best reasons to have a business mentor.

1: Finding the nuggets

An emerging entrepreneur is often a flurry of creativity, and sometimes good ideas can get lost in the blur of fresh thoughts. A good mentor can filter through this by honing in on the key ideas and bringing them to life.

2: Problem-solving

While a problem may be new for you, an experienced mentor has probably encountered it before. Advice from someone who has run into a similar roadblock before can save time, money and reduce stress.

3: Decision-making

Inexperience can cause hesitation and indecision, which in turn can lead to missed opportunities. Expert advice can boost the decision-making process leading to faster, better outcomes.

4: Strategising

Formulating a business plan can be one of the trickier tasks for a new company owner. Instructions from an expert can prove helpful and can make all the difference when it comes to raising money or investment.

5: Cultivating new skills

Whether it’s developing leadership skills or improving your communication technique with employees, having a mentor to help you cultivate these skills can be invaluable.

6: Building your network

A good mentor will have a vast network of professional contacts developed over a long career. Access to this system could give you access to a range of contacts, skills and prospective clients and partners that could prove vital to the success of your business.

If you need a mentor for your business