Starting your business off all by yourself and being a solo entrepreneur is exhilarating. It’s something that many people dream of, and they want all the success and profits that go with a business that works well. The problem is that, for many, although the idea is a good one, they have never run a business before, and they just don’t know which steps to take to ensure success over failure. This is where having a business mentor to help can be the difference between your hard work paying off or having to close down altogether. A mentor is someone who knows firsthand how a business should and can be run, and they can be invaluable. Here are the reasons why.

Information And Knowledge 

No matter how much you might know about your sector or your specific niche – whatever your business specializes in, in other words – that doesn’t mean you have any knowledge of running a business at all. You can certainly learn as you go, but this can be a slow process, and it will usually involve you making some mistakes along the way. 

Your mentor is someone you can ask questions of, and they can be a sounding board for you to see which direction you should be going in. They will have a good grasp of business; they will know how profit and loss works, what the best marketing method is, how to find suppliers of essential items such as grain storage bags, and so much more. If you have a mentor, use them as much as you can. 

They Offer Motivation 

Many first-time (or even second or third time) business owners suffer from a lack of motivation. If nothing is happening or sales are slow, or they reach some kind of obstacle, sometimes it can just feel easier to step away and try something else. Perhaps they might even feel as though they should get a job with someone and be employed once more. 

A business mentor will offer plenty of motivation to keep that business owner looking to the future, no matter how difficult the present might be. Of course, some people will be happier being employed rather than self-employed, and that is not a problem – there is no shame in realizing this. However, if your business has potential and you simply need someone to help you find your motivation, a mentor can be the best way to do it. 

Goal Setting 

Along with motivation, if you have no plan for the future of the business, then you won’t know which decisions are the right ones and which direction to take things when you have a choice. This is yet another way that a mentor can help. By talking things through with someone who has already had to create goals for their own business, you can determine just what you want to do. When you know what, you can work out how, and again your mentor will be on hand to guide you. 

What a mentor should not do is tell you exactly what to do, and you then follow them without question. This is still your business, and that means the ultimate decision-making is down to you. However, their advice and help can assist you in deciding just what you want and then making SMART (specific, measurable, achievable, realistic, timely) goals to get there.