Mentoring for Small Business Leaders

Leadership. Culture. Strategy. Execution
Schedule Analysis

Slowing Down…To Go Fast

The Secret to Entrepreneurial Success

One of the few secrets to business success is, “slowing down to go fast”. What does this mean?  Here is an example I like to use with my mentees,

“Give me six hours to chop down a tree and I will spend the first four sharpening the ax.”

Taking the time to develop your company’s culture, leadership, strategy, and execution plan provides your company with the ability to operate at a much faster pace than your competitors.  It’s the responsibility of business leaders to ensure this coarse of action is adopted by their organization if they want to achieve results, scalability, and success.

  1.  Culture – Mission, Vision, Values
  2.  Leadership – People, Purpose, Goals  
  3.  Strategy – BHAG, X-Factor, Profit Per X, Planning
  4. Execution – Priority, Data, Rhythm

Why Small Business Needs a Mentor

The Key to Peak Performance
In today’s competitive landscape a mentoring relationship can give you an edge that differentiates you from your peers and/or your competition. New small business owners often lack one fundamental thing — experience.
Why Entrepreneurs Need Mentors:

  1. They have not experienced the journey of entrepreneurship
  2. They typically lack strategic experience and knowledge
  3. They don’t have someone to hold them accountable 
  4. Their mistakes have a detrimental impact on their survival 
  5. They struggle to navigate through each stage of business
  6. They miss the opportunity to building a winning culture  
  7. They don’t have a trusted & credible partner to lean on
  8. They don’t have a source of motivation and encouragement  
  9. They lack network resources

Most Common Small Business Mistakes
  1. Not listening to advice
  2. Failing to plan
  3. Failing to develop a financial model
  4. Skipping market research
  5. Not setting goals and metrics
  6. Not knowing your target customer
  7. Avoiding new technology
  8. Being afraid of marketing
  9. Not developing legal protections
  10. Not understanding accounting language

The Facts About Small Business Mentoring

Studies have shown Entrepreneurs need more mentoring. The success rate of mentored small businesses compared to those without a mentor is stunning: 

  • 70% of mentored businesses survive more than five years, double the rate for non-mentored small businesses over that same period. Source: FSB
  • 20% of small businesses fail in their first year. Source: U.S. Small Business Administration
  • 30% of small businesses fail in their second year. Source: U.S. Small Business Administration
  • 50% of small businesses fail in their third year. Source: U.S. Small Business Administration
  • 88% of business owners say having a mentor to lean on is “invaluable”. Source: Kabbage
  • 55% of small businesses felt that mentoring had a positive impact on their profits. Source: mentorsme
  • 93% of small businesses acknowledge that mentoring can help them succeed. Source: Sage.com

10 Benefits of a Small Business Mentor

Behind every successful Entrepreneur is a good mentor who guides and supports the Entrepreneur on his or her entrepreneurial journey. Having a mentor can provide you with many advantages.

Phone: 412.725.6012
Email: jason@mentorpreneur.guru
Website: https://mentorpreneur.guru
Address: 2400, Ansys Dr. Suite 102, Canonsburg,  PA 15317