It's Your Time

Use a Mentor to Refuel Small Business Growth

Posted by Red Butler Team on 06/ 01/ 15

 

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As a small business owner, you have a passion for your business and know it inside and out. When growth stagnates or you are faced with an operations challenge, it can be frustrating or overwhelming. Sometimes at a critical juncture, having a third party take a look and make suggestions will make a significant impact in ways you may not even anticipate. 

 


 

Small business growth can happen quickly or be staedy over time. It can also fluctuate greatly, causing stress to the business owner. Completing operational paperwork helps with predicting how the business is growing and what specific short term and long term needs must be met. Writing a business plan, reviewing financials, determining whether to get investors - these are all common but critical tasks small business owners have to take care of in order to get an accurate picture of the health of the business. When working within a tight budget, it may not be possible to hire someone to help with these critical items.  We suggest using a mentor to complete these items, in order to get the expertise needed or at least to brainstorm ideas. 

One mentoring resource many small business owners don't know about is the SCORE mentor program through the Small Business Administration (SBA).  There are over 13,000 volunteer mentors in this program, each unique in their business experiences. There are retired CEO's, Business owners, and fellow entrepreneurs.  They may have people who have been in similar situations to your business. Here are the first few steps to getting started:

1. Go here to the SCORE mentor website. Then choose the industry you are in, what you need help with, and decide if you want to e-mail with a mentor or meet in person (there are hundreds of chapters across the USA). It is free and confidential, and the mentors are well qualified. Sometimes mentors may suggest a phone call once you have made contact via e-mail.

2. The mentor will analyze your issue and make suggestions.  They can also help write a business plan or review finanicials and make recommendations. From an operations perspective they can make recommendations to increase productivity. 

This is just one resource available to small businesses to help drive success, and we have highlighted just a few ways to use these SCORE mentors.  We hope you find using a qualified mentor helps you reach your goals more quickly.

Red Butler is a supporter of small business owners and their teams and is always on the lookout for innovative solutions like these. Visit our website today to learn more about how we can further support your business with our executive virtual assistants.

 


 

Since 2005, our high-performance executive clients have helped Red Butler continuously improve our service model. Today our clients enjoy the service quality of an experienced in-house executive support team for less than the cost of one additional hire.

 


 

Topics: Startups