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Could this simple fix accelerate your entrepreneurial success?

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What Simple Fix is Blocking Your Entrepreneurial Success?

Could entrepreneurial communities be the fix you didn’t know was missing?

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Take this 30 second quiz
to find out what group might be best for you!

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See if community is the missing link to your success, well-being and the secret to better problem solving…

Every successful entrepreneur has a series of mentors and colleagues that helped them grow along the way. Bill Gates had Warren Buffet, Steve Jobs had Ed Woolard and the list goes on and on.

“Mentors Are The Secret Weapon of Successful Startups”

In the study cited by TechCrunch, the companies where the founder was mentored by a top-performing entrepreneur their company had 3x performance their competitors. Below we’ve cited several other statistics from Forbes Magazine for a survey of more than 200 small business owners across the United States:

  • Only 22% of small businesses had mentors when they started their business. Another 17% indicated they have or had an advisor, possibly a paid relationship for consulting and advice. This leaves 63% of business owners who do not have professional guidance at the onset of their business.
  • The statistics for new business failure are dire: 20% of small businesses fail in their first year, 30% of small businesses fail in their second year, and 50% of small businesses fail after five years when their financing or enthusiasm, or both, dry up.
  • 92% of small business owners agree that mentors have a direct impact on the growth and survival of their business. A separate previous Kabbage report revealed 84% of small businesses reach profitability in the first four years of their business, with 68% attaining profitability in the first year. The early years of any business are therefore a crucial make-or-break period, and business mentors are vital to their success.
  • Of all respondents, 89% of small business owners who didn’t have a mentor wish that they did. These statistics highlight a need in the entrepreneurial community to find and connect with qualified mentors who can deliver solid advice to help a business over those shaky first years.

(All above stats provided by Forbes

As Seth Godin stated in his book Linchpin , “I believe that every artist needs an apprenticeship…but it’s impossible to find a mentor in art without the fortitude, social wherewithal and skills to make it happen.” An entrepreneur who does not have access to a mentor is at risk of missing out on key strategies, mistakes to avoid and above all valuable resources that are crucial to early success in the business world.

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