Transitioning from traditional employment to business ownership, while personally rewarding, is not a risk-free endeavor. The news is rife with stories of would-be entrepreneurs who tried to start their own businesses but failed, due to lack of foresight, leadership skills, planning, or training. According to reports, as much as 90 percent of all startups fail. While the statistics can seem discouraging, first-time entrepreneurs should think of it as a challenge that can easily be overcome with the right training, skill sets, and support.
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Having a mentor can increase an entrepreneur’s chances of success. A mentor with firsthand knowledge of how businesses work can provide a fledgling entrepreneur with advice, culled from years of experience, that is infinitely more valuable than the tips one would get from a business self-help book. A mentor can also provide guidance on complicated business decisions and push a mentee to see issues or challenges from a new perspective.
A mentor is not only for entrepreneurs but also for professionals looking to advance their career. The human resources department of Sun Microsystems observed the career progress of 1,000 employees over five years and found that both mentors and mentees were 20 percent more likely to get a raise and were promoted five times more frequently than those who did not have a mentoring relationship.
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Since 2001, North Carolina-based firm Dougherty Marketing has provided entrepreneurial mentorship and training services to thousands of professionals, from entrepreneurs to established industry leaders alike. Apart from giving them an opportunity to earn a second income, the firm provides its clients with the necessary skills, training, and business connections to help them achieve their goals, as well as provide a support system as they navigate their way through the murky waters of business ownership to financial stability and career success. To learn more about the company, visit DoughertyMarketing.com.