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Owning a small business or start-up can be the most exciting and rewarding thing you ever do—but as any entrepreneur will tell you, it won’t always go smoothly. Carving your own path means encountering a world of questions, dilemmas and obstacles to either solve or overcome. On top of this, going at it alone can be incredibly isolating.
That's where a small business mentor can help. In fact, a 2022 study found that 89% of small business owners wish they’d had a mentor in the beginning.
Having a small business mentor can alleviate stressors and help you rise to the top. In this blog post, we’ll explore the often-overlooked concept of the mentor relationship in the world of small business ownership.
A good small business mentor is an industry expert who has “been there, done that.” In turn, they can help you navigate complex, new-to-you issues that are specific to entrepreneurship in your industry. Drawing upon your mentor’s knowledge and expertise is just one of the many benefits of this professional relationship.
Besides the obvious industry and business-specific lessons they can share wisdom on, mentors who have started small businesses themselves truly understand the interpersonal and emotional challenges of entrepreneurship better than anyone.
Your small business mentor can be a great way to meet and build a network in your industry. Your mentor can connect you with individuals who have helped them along the way, and those they have partnered with while growing their business.
Encouragement and validation from someone experienced can boost business owners’ confidence. With more confidence, you’ll be more likely to take calculated risks and make tough decisions.
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Finding the perfect small business mentor may happen organically--if it does, count yourself among the luckiest. For others, figuring out how to find a mentor in business takes effort and a bit of skill.
Here are some starting points you can consider:
Professional associations at industry-specific conferences and seminars, and in membership groups. Participating in networking events can help you meet other like-minded individuals you may hit it off with.
Within your own network, perhaps by getting to know an individual you admire or whose business you respect. Don't underestimate the age-old tactic of asking a potential mentor out for a quick coffee or lunch (and footing the bill).
You may think that the people you look up to are constantly being bothered by requests to serve as a mentor, but it may be more rare than you think. In fact, Forbes reports that only 14 percent of people who have mentors established the relationship by asking the individual to mentor them.
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Axcet HR Solutions, a Kansas City PEO, is proud to serve small businesses and start-ups, partnering with lean organizations to provide a full suite of human resources services. Whatever your business needs, from training and development to employee relations, to risk compliance, Axcet has you covered.
With your mind off of HR tasks, you can focus on what you're great at as a small business owner: running (and growing) your core business. Interested in learning more about how Axcet can help? Schedule a conversation with our experts to learn more.
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