Managing a Small Business: Don’t Try to Run a Business Without Having a Mentor

By Paula Pant Posted: 10/16/14 Updated: 11/10/17

In addition to helping large Fortune 500 companies, #mentoring is beneficial to small businesses as well. For Entrepreneurs, There Are Some Questions You Just Can’t Research Online

You’d love to become your own boss. You’ve always dreamed of starting a cake business, running your own car dealership, or launching a consulting practice.

Lately, that dream has morphed into a plan. You’ve built some savings. You’ve carved out a home office. You have approval from your spouse.

But there’s one incredibly important piece of the puzzle that you may be lacking: a mentor.

Why a Mentor?
You can read all the books about writing business plans, managing self-employment taxes and filing LLC paperwork. You can study the biographies of the leaders in your field. But unless you have a trustworthy person who can provide direct feedback that’s unique to your situation, you won’t be able to improve as quickly or as well.

Mentoring is essential in any field. If you’re a software programmer, meet with your mentor monthly to ask whether you should stick with JavaScript or learn Ruby on Rails. If you’re a professional writer, send your mentor one article per month and ask for feedback on style and tone. If you flip houses, show your mentor your operating budget and request advice on how to manage contractors.

So where can you find a mentor? To read the rest of this article click here.

Your Mentoring Year, Recap

You’ve come so far in your mentor/mentee relationship! Take a breath and take a look at all you’ve accomplished over the past 12 months.

Do you remember where you began a year ago? What was the quality and tone of that relationship then? What were your goals and visions?

Where are you now…and even more exciting, Where are you headed for the next 12 months?

Next month we begin a whole new series of tips! So, dream, journal and wonder at your next level…and stay tuned for more.

Your Mentoring Year Tip #12: Celebrate Success!

Celebrate Success!

How long has it been since you’ve taken a look at the progress you’ve made? As a mentor? As a mentee? In your business? In your personal growth?

We encourage you to take time each quarter with your mentoring partner to celebrate your achievements. What are the demonstrable improvements in outlook, behavior, performance and work satisfaction since your mentoring relationship began? Get specific and outcome-focused. We can’t fully appreciate where we are until we’ve celebrated how far we have come.

Your Mentoring Year Tip #11: Checking In On Goals

Checking in on Goals

How will you know whether or not you’re achieving your goals?

When you get results? Yes. Sometimes that’s the case.

More often the knowing and the awareness of where you are at with your goals lies in the simple, and powerful, action of checking in. You can do this on your own, with a friend, cohort or mastermind and/or with a mentor.
The real work of refreshing your memory and looking at your goals, framing them in your vision, is actually so simple that many overlook it. You won’t when you actively follow this tip.

Your Mentoring Year Tip #10: Avoid Stumbling Blocks

One of the biggest stumbling blocks for mentoring pairs is staying on track over the course of the year. 

To make sure you avoid this potential trap, make sure you determine how to manage your mentoring time:

How often and how long will you meet?

How will you handle and reschedule cancelled meetings? Consider using an agenda, preparation, and journal as vehicles for maximizing learning. Your schedule holds and organizes your most valuable asset – your time.

For new mentor/mentee relationships, the development of an agreed-upon framework will not only set expectations, but also support focused meeting times so you both get the most out of your time together.

For more experienced pairs, referring back to the framework (or creating a new one) is a great way to a mentoring relationship back on track.

Ready for more? Review the Mentor’s Guide: Facilitating Effective Learning Relationships for more support, insight and tools.