Working with a Business Mentor

As you open the doors of your business for the very first time you will be struck with the responsibility of making decisions. They will come from every direction and it will seem incredibly overwhelming. Each and every choice you make could have a significant impact on your business, and making the right decision could determine whether or not your company lives to see tomorrow.

Though this may seem daunting, there IS in fact something that you can do about it. Rather than making all of those choices on your own, you should consider taking on a business mentor.

The Role of a Business Mentor

So what is a business mentor exactly? How do they help you? The thing to remember about business is that no matter what you are facing and no matter how hard it seems, there is someone who has been there before, and they have not only faced the challenge; they have actually succeeded. Now there are those who might say that the best way to overcome a challenge is to take it on yourself, but seriously, why do that when someone can just give you the answer and you can move on? A business mentor is exactly the person to do this, and they will help you with no benefit to themselves other than the satisfaction of seeing you succeed.

The Process of Finding a Mentor

Government Based Mentors

Believe it or not there are actually a number of government organizations that will help you to find a mentor, especially as a small business owner. These mentors can be obtained either online or in person:

  • SCORE: This organization is sponsored by SBA and provides free, confidential mentoring to the aspiring business owner. This is accomplished through a nationwide network of executives, leaders, volunteers, etc. SCORE is a multipurpose organization, providing mentoring either online or in person, whichever is more convenient for you.
  • SBDC’s: This is a small business development center, and it is designed to help small business owners find their footing. With an SBDC you can obtain financial counseling, marketing advice, and other guidance. In fact, some SBDC’s will actually assist with information technology, manufacturing, etc. There is a lot to learn, but there is no reason or you to learn it by yourself.
  • WBC: It is recognized that women may have unique needs in business, particularly in the entrepreneurial side of things. A Women’s Business Center will help women to start and grow their small business with the aid of nearly one hundred educational centers. This source of support is particular key if you’re thinking of pursuing one of the much sought after business grants for women.
  • Veteran’s Business Outreach Centers: The centers supply veterans with small business development services such as business coaching, consulting and mentorship.
  • Minority Business Development Agency: specialized advisors help minority and underserved population company owners gain access to contracts, market research, capital and entrepreneurial consulting and mentoring.

Looking for more? Don’t worry, there are plenty of additional programs out there to provide assistance, all of which can be found at

Taking Advantage of Trade Associations

There are many trade associations that work to offer mentor services which will undoubtedly help you to build your business with little to no problem. Typically, such programs will be conducted through one on one mentoring sessions, and there are also group sessions for those who are interested. For an even better experience, business owners can be connected with several different mentors.

Government Contractors Mentoring

Selling to the federal government is an entirely different task and you might need a special mentorship to participate in such business transactions. The General Services Administration does provide a program which will encourage the larger contractors to aid small businesses in their endeavors.

Inside Your Own Network

They say it’s “all in who you know”, and that is not incorrect. Do you have an old boss that inspired you? What about friends or acquaintances? You can’t be the only person you know that has ever tried to start a business, and perhaps some of your network has been successful. In this case, you should seek advice from within and make sure you follow the words of those who have already made success for themselves.

One on One with a Mentor

Once you do make the leap of faith and start speaking with a mentor, make sure that the relationship ill be mutually beneficial, and of course, mind the following tips:

  • Don’t waste the mentor’s time by not being prepared!
  • Know how to run your business properly; your mentor should not be running the business or making decisions for you.
  • Plan everything in advance. Before your session is actually scheduled, make sure you plan every single thing in advance such as your business goals, obstacles you are facing, or even regulatory requirements that you donít understand. This goes hand in hand with being prepared and not wasting the mentor’s time.
  • During the session, make sure that you take notes and review them later on.
  • Finally, when the session ends, thank the mentor for their time and assistance.

Are You Cut Out for Entrepreneurial Success?

You’ve begun to investigate funding for a small enterprise. You started talking to friends and family, banks and even looked into the possibility of business grants for womenBusiness Startup. But, do you really have what it takes to run your own business?

Starting your own business can be an exciting and fulfilling adventure. It can certainly offer many advantages like actually being your own boss, setting up one’s own routine and earning money doing activities that love. Nevertheless, learning to be a productive business person calls for extensive planning, imagination and diligent work

Think about whether you possess the required qualities and abilities often related to successful small business owners:

  • No problem with taking risks: Being your own boss means you’re responsible for handling challenging decisions. Entrepreneurship involves uncertainty. Are you someone refrain from uncertainty at all costs? If that’s the case, then entrepreneurship is probably not the perfect life pursuit to suit your needs. Do you like the thrill relating to taking calculated risks? Then you should read more.
  • Self-aware: Entrepreneurs need to make a whole lot of decisions independently. If you learn you can depend on your intuition – and you’re unafraid of obstacles every so often – there’s a chance you’re on your way to becoming an business owner.
  • Engaging: You could have the biggest concept on the planet, but if you are not able to sway buyers, workers along with future banks or business partners, you may find business building to be challenging. If you enjoy presenting and public speaking, interact with new people with ease and find you construct compelling propositions based in facts, it’s doubtless you’re ready for making the innovation come to life.
  • Adroit at negotiation: As a entrepreneur, you have got to negotiate everything from rental agreements to contract terms to pricing. Refined negotiation expertise will help you reduce costs and keep your small business operating smoothly.
  • Creative: Are you able to imagine innovative ideas? Do you envision completely new different ways to remedy challenges? Business owners need to be able to think innovatively. For people with experience on the way to profit from modern options, business ownership may be a good match.
  • Sustained by many others: Prior to starting a business, it’s crucial that you have a powerful support system in place. You’ll have to make many critical actions, mainly in the first few months of opening up your business. Unless you have a very good support network of individuals that may help you, give some thought to looking for a business mentor. A mentor is normally somebody that has experience, successful and willing to deliver guidance and advice. Study the Measures to locating a Mentor document for help on getting and working with a a mentor.

Continue to think you may have what it takes to become a business owner and begin a new organization? Great! Finally contemplate these twenty questions to help ensure you have considered the most suitable financial and business details.