As a small business owner, you will often ask yourself the same question. How can I improve my business skills? As an entrepreneur or sole trader, you will face challenges and obstacles that can prevent your business from succeeding. You may like the independence that being your own boss brings. But, when things start to go wrong you may also feel isolated. Your self-confidence may start to drain away. You may start to feel worthless, resigning yourself to the fact that you can no longer move forward.
If you feel as though you are currently in this situation, it must be noted, that you are not alone. Nor are you a failure. Even the best entrepreneurs of all-time hit rough patches in their career. To avoid the downfall of your business, one option you have is to turn to a mentor for help. Unlike a friend or family member who may be inclined to say “I told you so” a mentor will help you through the tough times, without being judgmental.
How Can I Improve my Business : What A Mentor Can Do
Almost a third of new businesses do not survive into their second year of trading. This brings about a very important question. Of these failures, how many could have been avoided with the services of a mentor? After five years, of the new businesses, under half will still be trading. So, if you do not want to be yet another statistic, a mentor can help. Working with a mentor does not need to be expensive. It is important however to not think that by employing a mentor all your problems will be solved. They won’t.
You will need to work with your mentor in order to improve your business skills. Your mentor will not tell you what to do. He is there to guide you. It is interesting here to note however that almost three quarters of businesses that use mentoring services are still trading not just in their second, but their fifth year.
A mentor will help you find your weaknesses. He will be able to show you where the weaknesses are in your business model. One common problem with entrepreneurs is that they develop tunnel vision. This means that they are unable to see where they are going wrong, and are also adverse to change. A mentor will help you look past the solid business model you had that you were convinced would be a success. He will be able to answer your question “ how can I improve my business ”
Expand Your Network
When you employ the services of a mentor, you will automatically be expanding your network. You will enjoy an outside influence that previously wasn’t available to you. Your mentor will have contacts that you don‘t, including clients, investors, and contractors. He will open up a whole new world of opportunities to you that you didn’t know existed.
All smart small business owners need to acknowledge the fact that outside influences can be highly beneficial to their business model. This means accepting help when it is needed. It means opening up about your doubts and fears. It means admitting you are not invincible, and that going it alone from day one was not the best strategy for you.