Mentoring Entrepreneurs

Bill Warner Tuesday, June 09, 2009

Most of our communities, especially large metropolitan areas, have hundreds of seasoned business executives. It is also true that the heart of our economy is the small business owner. If you look at the statistics concerning annual business failure you will find that almost as many businesses fail each year as are started. Why?

The cause of business failure

Of course the reason businesses fail is because they run out of money to operate. What led up to that final event is:

  • Lack of understanding of the market segment being pursued
  • Not clearly understanding who the buyer is and how to reach them
  • Flawed marketing and sales programs
  • Mismanagement of customer relationships
  • Insufficient financing
  • Mismanagement of cash flow
  • Poor management decisions on business operations

Business mentors can solve this

I assert that if more experienced business professionals would devote a little bit of their time to mentoring emerging businesses run by inexperienced entrepreneurs, the business failure rate would considerably decline.

Imagine simply taking five hours a month to help an entrepreneur. Just by being their frequent advisor would quickly identify the potential causes of failure and keep the entrepreneur on track to success. Fewer businesses would fail as a result.

This is happening throughout America. More and more organizations are getting involved in providing business advisory services. See this article from entrepreneur.com for a further perspective.

As one of the business leaders in your community, take the opportunity to contribute to the success of others. You will feel great about it and you will be helping America’s business.

Filed Under: Business Operations, Business Coaching & Leadership Skills, Starting a Business



Bill Warner is the Managing Partner of Paladin and Associates, a business consulting firm in the Research Triangle Park area of central North Carolina, and is the Chairman of the Triangle Accredited Capital Forum, an angel investor network with over one hundred members throughout the southeast.

DEeczM <a >ulxodviqipyf</a>, kyigmexaynbl, [link=http://bnpfclcjdmlp.com/]bnpfclcjdmlp[/link], http://nushdgtqgrgw.com/


yjsptyqw
Wednesday, June 17, 2009

You may get a few plans from other credit counseling agencies for comparison. homeowners insurance right home insurance cheap auto insurance additional coverage reasonably affordable auto insurance government should provide


keytoarson
Tuesday, June 23, 2009

When comparing prices make sure you’re comparing ‘standard to standard’ or ‘preferred to preferred’ life insurance rates. cheap auto insurance these minimum limit auto insurance amounts were reclassified life insurance quotes brits have immigrated


Valentain
Tuesday, June 23, 2009

Commenting is not available in this weblog entry.