Risk exists in any business venture. All you can do is reduce the quotient of risk. The best of doing that is being guided by a mentor. This is mandatory if you are a novice businessman. Mentors may help you in many ways and the reasons for appointing them are:
1. Most important decision as an entrepreneur is choosing the correct mentor because he or she will be the key to the success or failure of your business. He or she will inspire you as well as the others with the expertise in that particular field of work.
2. Answerability: business owners are often known to have overlooked some minute details. A mentor helps you set real goals and help you achieve it in terms of marketing or finance or advertisements.
3. Strategy building: he or she will be aware of the common mistakes and will avoid them while formulating the business plan thus helping your venture.
4. Objective: you as the owner may get emotionally attached and will refrain yourself from taking important decisions. The staff is like your family but the mentor doesn’t have these limitations. Necessary decisions shall be taken on time.
5. Maintenance: mentor will detect the problems and find the solutions along with you to support and maintain the business. Without the right maintenance it would collapse.
6. Expert opinion: mentor is the one who has an expert knowledge of that line of work as well as a pro as a businessman due to past experience. Thus he being a part of your core team is an asset!
7. Insightfulness: you are the owner of the business. You finance it with the capital. But the in-depth knowledge of the business and how it can do better lies with the mentor.
8. Networking: the mentor shall have a name for himself in the market so along with him you get to exploit his contacts. Thus he or she becomes the representative of your organization. Thus an instant marketing strategy.
9. Feedback mechanism: through the mentor you can get an outsider view of the situation. It would be unbiased along with necessary suggestions to perform better.
10. Communication: mentors have capability of reaching out to the employees and customers of all strata thus his communication techniques can be observed and should be benefited from. Like in marketing and sales firms techniques of convincing is an important aspects of training at all levels
If you are looking for a tutor mentor to help you grow your business, I am accepting a few clients in June 2011. Please email me at email@example.com.