Many small and family businesses fail every year.
Whether the economy is doing well or badly, business failure for SMEs happens all the time – but it shouldn’t.
Good planning, good management and good finances all contribute to business success, especially for start-ups in their first year. Another contribution to success is engaging the support of a business mentor – use their experience and knowledge to avoid the negatives and build on the positives. A mentor is a sounding board and critical friend, providing essential support and advice to help achieve success.
I have been a mentor for some 10 years, working with a range of different businesses, including surveyors, architects, boat-builders, engineers and care homes. I use my lifetime of business experience as the owner of a family business to help owners – yes, I have been there and done it!
The benefits of working with a mentor as clear – here are some statistics.
- 30% higher success rate for businesses which work with a mentor.
- 84% of owners/ CEOs who work with a mentor say it made their business more efficient and more profitable.
- 70% of businesses which use a mentor SURVIVE for over 5 years.
But only 15% of SMEs work with a mentor – why when the positive results are so clear? Having a mentor as your sounding board and critical friend really makes the difference between failure and success.
My business mentoring work is supported by my membership of the Association of business Mentors (ABM) – a recognized membership organization for mentors. All ABM mentors have proven extensive business experience and knowledge. An ABM mentor provides quality support and a quality service.
Business mentoring works – it provides great value and it’s an investment in the future of your business..
Let’s talk, let’s engage – there is nothing to lose and everything to gain.