Thursday, May 12, 2011

Good mentors make a difference

Having mentors definitely helps when you are starting up.

You probably already know how to do the fundamentals of the work required, but there are so many aspects to the business that are new to you.

For example you will be dealing with issues such as  pricing, contracts, locations, marketing, advertising, hiring and managing employees, dealing with landlords, IT support arrangements, branding,  and so on. You also need some help to learn you how to get through those days where it all seems overwhelming.

It makes good sense to shortcut the learning curve and learn from others.

Most business owners look forward to talking to other business owners. You are like minded after all.

Be creative. While your direct competitors will be reluctant to talk, think of similar businesses . For example, if you are a retail startup then find someone who has been successful in that. If you are going into consulting, then find a fellow consultant.

I have often found the Managing Directors of companies to be very helpful as they have been through the startup phase themselves and are only too happy to pass on their experience.

You may even find that you need  a few mentors to cover different aspects of your business.
The internet also opens up possibilities. You may find mentors in your exact business in a different city, or even a different country.

A good mentor will give you a combination of practical advice and also teach you new ways to think.

As a mentor myself I find my relationships with startups highly rewarding too. I am constantly learning and I make some great new friends.

A good mentor can really help – go find one.

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