Four Reasons Why You Need a Mentor in Your Business

The league of business owners is increasing by the day as many are realizing that to truly take their future in their hands they need to own their own business. However, owning a business is very different from working for a salary. As a new business person, you face the ups and the downs, some months you make money and others you don’t but they all even out. For the employee, in contrast, the end of the month almost always signifies payday without fail.

It can get discouraging for the budding entrepreneur, at least, in the initial stages. This is where a mentor comes in. Below are some five areas where a mentor can be helpful to a new business owner or entrepreneur:

1. The mentor has “been there and done that”. As they say, “experience is the best teacher”. The typical mentor has many more years of experience than the new business person so he can easily offer relevant advice to the new business operator. Chances are whatever challenges the business operator is facing now, the experienced mentor has faced one form of it before and is able to offer guidance.

2. The mentor has more contacts in the industry or field where the new business person is operating, and he is able to connect with his personal and industry network to help the fledgling business builder. This way, the mentor may be able to help the new business person get discounts on products, raw materials or advertising, for example. Apart from this, the mentor can help the business owner in building his own personal network too.

3. The mentor can be used as a “sounding board”. When the entrepreneur is brainstorming an idea to grow his business and needs a second opinion, he can always consult the mentor to find out what he thinks about the idea. This way he can save time and other resources by avoiding the pursuit of ideas that are not viable.

4. The mentor can actually partner with the entrepreneur if they are in the same or similar industry and their products/services are compatible. This way, it is a win/win situation as they can work out an arrangement in which they can cross-sell each others customers. For example if the mentor and the business person both use email marketing in their respective businesses they can do what is usually called a mail swap in which they both mail their promotions to each others list. The important thing to ensure when doing this is that complementary and relevant services are being offered to subscribers.

Why an Internet Business Is Your Best Bet to Make a Decent Living

The internet revolution has just begun. eCommerce is growing every single year and this trend is going to continue for the foreseeable future. The internet really has levelled the playing field with its low barriers to entry. People from all ages and backgrounds can have go at starting an internet business.

The growth of smart phones and tablets in recent years will bring a new dimension to internet businesses with people using their smart phones to purchase goods or services.

Technology has improved and faster internet connections have made it possible for all businesses to sell their goods online.

Starting an internet business is so much easier than starting a conventional “brick and mortar” business.

For a start you don’t need to invest thousands if not tens of thousands of pounds into the business.

Usually your cost would be your web hosting and the cost of your domain name. Compare this to a “brick and mortar” business where you have to rent a shop, fit it and stock it before a single penny is actually made.

An internet business is easy and quick to start. Online tools such as WordPress allow anyone to create their own website within minutes. Plugins are available to allow the website to do more or less anything imaginable.

With an internet business all you need is some spare time and a passion to succeed.

You won’t need any expensive equipment. All you need is a computer with a good internet connect. You can set up your internet business from your kitchen table if you want which can still compete with the large multinational companies online.

With the internet you can also find out if there is any actual demand for your goods or services before you invest a penny into the business. Free tools such as the Google Keywords tool allow you to find out how many people are actually searching for your particular goods or service.

Reaching your customers using the internet is easier than ever. The internet has allowed anyone to go online and find what they need in an instant. This is thanks to the search engines such as Google, Yahoo and Bing.

You could reach you customers by advertising on the search engines pay per click networks. On Google it’s called Google AdWords. You only pay if people click onto your advert. The customers are highly targeted which means they are more likely to purchase from you.

Other ways to reach your customers is to get high natural search engine rankings. You can employ SEO (search engine optimisation) companies to do this for you. High rankings basically mean free advertising. Getting high search engine rankings are a bit difficult if you don’t know what you are doing but you can always hire someone or study this art for yourself.

You could also advertise on websites related to your niche by placing banners or by writing content for them. Writing content for related website is a great method to reach your targeted customers. Firstly you are reaching people in your niche and secondly because you are writing the content people in your niche will regard you as an expert so will more likely to buy from you.

With the explosion in handheld devices one of the best internet businesses to start is an information publishing business. Digital downloads has removed the need to actually stock any inventory. Information regarding any subject could be gathered very quickly.

So get started today in your internet quest. The sooner you start the better because with low barriers to entry there will be high levels of competition.