19 October 2017

RSS Feed

Searching a Mentor for your Business? Read on

E-mail Print PDF

If you are a small business owner, an entrepreneur, or someone who is trying to start something on your own, the process and the management is overwhelming and quite hectic. In such cases, expert opinion from those who have well-established businesses and use their time for mentoring new comers in the market matters a lot.

Benefit of having a mentor for the business

  • Expert Advice: First of all, at the beginning of any business, you need expert advice on how to manage and run it. The advice should come from someone who has some expertise in the similar field. The guidance he or she is going to provide will include all the aspects which can lead to potential success and failure so that you can understand and learn from their mistakes as well. The business world is cruel and everyone makes mistakes. Thus, by learning about these mistakes you should not feel low but should take it as a lesson about what not to do while running a business.
  • Whole new perspective: When a mentor provides you guidance, he or she will have whole new perspective about your business. You will be able to see the possibilities from a new spectrum. While establishing or expanding the business, it is very easy to get caught in different ideas and second thoughts. Mentors have faced similar situations in life and they know which path suits the best in a business. Their expertise and experience will help you in choosing the right path.
  • Growing network: For any business, networking is very important. Meeting prospective clients and associates is not easy for a new business owner. Mentors have well-established roots in the market and most of them are well respected in the respective fields which make it easier for you to meet new clients and associates.
  • Improved skills: In a new business you may struggle with keeping up with the deadlines or maintaining books in the proper way. Mentors guide you how to manage everything without making a fuss out of it. This will not only save time for you but will save money and increase productivity as well.

Things to keep in mind while choosing a mentor

  • Be clear on your requirement: When you are looking for a mentor, make sure to understand what all you need from him or her. Note down the requirements and try to spot your weak areas. There are a lot of events which help new business owners to meet mentors and seek their help. If you know what you are looking for, you can discuss with the prospective mentor and show them that you care for your business.
  • Think out-of-the-box: It is not important to look for the mentor in your own field. May be you require someone with the whole set of expertise different from your current business. In some cases, the business owners just need someone to provide back end support without changing the business strategies. Thus it is important to look for the problem and find a mentor accordingly. You can find mentors in totally unexpected places like NGOs, associations for young entrepreneurs etc.
  • Meet with the person: A private meeting is very important to seek mentorship. Group meetings cannot provide you the one-on-one discussion opportunity that you actually need before seeking mentorship. Thus, it is important to see a meeting with the person so that you both can understand each other before moving ahead with the process.
  • Be clear and open: Never hide anything from your mentor. Do not a show-off and never try to impress the mentor. The person is there to help you on your weak points and if he is unaware of the weaknesses there is no use of having a mentor.

Where can you find a mentor?

  • Networking events: These are among the best places to find mentors for your business. Every year, a lot of institutes, companies, and media houses organize such networking events where you can go and find new associates as well as mentors. Such events not only help you in establishing roots properly in the market but also help in saving money with new tie-ups.
  • Social Media: Social media platforms like LinkedIn and Twitter are big players for such searches. You can find a lot of people who are expert in their respective fields and generally most of them are open about sharing the trade secrets in casual discussions. Just make sure to introduce yourself before you ask for help so that they can know a bit about you and your work before providing a helping hand.
  • Business Development Events: Government and non-government institutes often organize special business development events in which you can find new ideas, associates, expansion possibilities and mentors for your business. Such events have elaborated discussion sessions as well where experts speak about their experiences in life from which you can learn a lot.
  • Friends and family: If you have a circle of successful business owners in family or friends, do not hesitate in asking for help from them. Discuss the problems you are facing and ask for the guidance. In most of the cases, the person sitting next to you during the discussion can give you the idea of the lifetime.
  • Everywhere else: Never stop looking for ideas and support no matter where you are. Whenever you find some time to discuss something openly even with a stranger say at a business meeting, do discuss it casually and listen carefully what they have to say. If you like the idea or support, take it else you can move on.

You will come across a lot of helping hands during the first few years of your business. You will learn from your as well as your mentors’ mistakes. Do not overlook them and try to learn from what they have done wrong. There is a lot that has to be included in the business other than time and money. You need to be passionate and always open to new learning curves. Never feel down and make sure to have someone at any given moment with whom you can talk and discuss your problems.

Last Updated ( Wednesday, 27 September 2017 19:52 )  
Banner



Get the Flash Player to see this player.

Follow SEI

Facebook Twitter Linkedin Youtube RSS Feed
Small Enterprise India Newsletters

Ask GURU

Take Our Online PollVoice your opinion
What do you expect from the StartUp India Action Plan?

Stock Market