WHAT IS A BUSINESS MENTOR?
A business mentor is someone who has been successful in business themselves, either being in senior management positions or running companies of their own. They know what to do to be successful, and are familiar with the challenges entrepreneurs will encounter on a daily basis.
A business mentor will offer their time and support to start-ups, and will often continue offering this support for the lifetime of the venture. They bring their knowledge and experience to a company to help the entrepreneur make it successful.
They understand what an entrepreneur is going through and can empathise with the difficulties they face, and offer ways to help. In some ways they can be thought of as investor, but they invest time instead of money.
A mentor can improve a business’ chances of success. Everyone needs a bit of help and support sometimes, particularly in business, and if that support comes from someone already experienced in the area it can be even more advantageous.
Mentors, particularly if you find them through specialised organisations, usually offer support for a few hours a month. However, this timescale depends on where you find them, and many will be able to help as and when required (within reason!). They can offer ongoing support when you need it, for as long as you need it.
They usually don’t have anything to gain from being a mentor. Occasionally they get paid for the services they provide, but more often than not they do it out of the goodness of their hearts because they know how difficult being a start-up can be, and they want to be able to help by offering their knowledge and expertise.
A business mentor can be a valuable asset to any company, with their experience in the market being used to help an entrepreneur make their business successful and profitable.
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