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Between friends, family, colleagues, books, the Internet, etc., there’s a lot of advice out there. Each source has its own opinions on how you should start and maintain your small business. However, there’s nothing like the personalized, one-on-one advice you get from working with a mentor.

If you’re unsure whether you need a mentor to help you with your business, read on to learn about the benefits of small business mentoring.  

Mentors have experience

The greatest thing about mentors is that chances are, your mentor has experienced whatever you’re going through. If not, they know someone who has. If you are feeling discouraged, elated or any mix of emotions in between, your mentor is an excellent sounding board to talk through everything that’s happening.

You don’t have to pay for mentorship

Unlike many of the other things you need to grow your business, this one is free. At least, it should be. Coaches and consultants usually come with a price tag; after all, consulting is their business, and they also want to earn a profit. But the relationship with your mentor is special. It may seem intimidating to find a mentor, but many are readily available. You may already have one and not even realize it.

If you’re struggling to find a mentor, you can turn to sites like SCORE (Service Corps of Retired Executives) to connect with someone who is eager to offer guidance.

Mentors help you grow your network

With years of experience under their belt, your mentor is likely to have a solid network of local businessowners, funders, marketers, contractors and other key personnel you need in building your business. When you have a mentor, your mentor can make meeting these people much easier. Because you’ll be able to bond over a mutual connection, these contacts will likely be more willing to work with you and to make you a top priority.

You can trust your mentor

Your mentor isn’t trying to get anything out of you. They aren’t trying to sell you something or use you for their business. A good mentor genuinely wants to help you improve your business (and your life). This forms the foundation for a strong relationship based on trust. Your mentor can be with you for the long haul and will come to know you and your business better over the years. This will lead to sounder advice and increased benefits for your business.

Mentorships benefit both parties

Even if your mentor is the most altruistic person, your mentor is still benefitting from your relationship. If you’re worried that you’re only taking from your mentor, don’t! Your conversations will prove valuable to your mentor as well. In addition to the intrinsic reward of helping someone else, your mentor is also gaining from your knowledge and your network. You may not realize it, but you have plenty of business knowledge to share as well.

The financial consultants at Tenet Financial Group are another resource you can add to your toolkit to help you navigate your small business journey. Unlike choosing a business type and picking a location, for example, mentorship in the area of business funding is a constant throughout the life of your business. As your business grows and evolves, funding remains a super important detail not to be overlooked. Contact us today to discuss your business funding needs and let’s start the mentorship process together!