8 Places to find your Perfect Business Mentor

Running your own company can be a lonely business, even if you have higher management or a business partner it can be hard to see the wood for the trees. Finding a mentor could be the perfect solution for you, provide you with a fresh perspective and help you grow your business.
Before you go on the search have a think about what you would like from your mentor. Identify some public figures you admire in the business world, then go closer to home. Is there a particular independent business in the place you live that you like? Is there a smaller influencer on social media that provides good content? Having these things in mind you can start the process of finding a mentor(s). Keep the process as organic as possible and we would not advise asking someone to be your mentor when you first meet, unless they explicitly say they are looking for a mentee. We have outlined below some places you could find a mentor and there is no harm in introducing yourself. Keep it professional, friendly and be prepared to have some of your messages go unanswered.

1. Official mentor sites 

Some sites will be free, some have paywalls or there may be products/services you will need to purchase to gain access to their network of mentors. Depending on what you want from the relationship this could be a quick and straight-forward way to get the ball rolling.

2. Traditional Networking 

This doesn’t have to be a lot of bored looking business folk in polyester suits standing around a beige buffet, unless you want it to be. Networking in the traditional way may not suit your industry or might not be your thing. But go to events or places business owners you admire go to, you never know who you could get chatting with.

3. LinkedIn 

Make sure your profile is up to date, your photo is appropriate and you have filled out the bio section so people can understand who you are and why you are relevant to them. Send personalised messages with connection requests and follow companies and public figures. Don’t forget to join applicable groups as well!

4. Peers 

Mentors don’t necessarily have to be older and more experienced than you, or even in the same industry. Getting an outside point of view that totally refreshes your perspective or triggers a fantastic business idea can come from the most unlikely places. Talk through your issues with someone you click with and that you trust their opinion.

5. Communities 

There are a lot of online communities you can join for a monthly subscription fee that will give you access to mentor or peer directories. Try one out for a couple of months and see how it goes. These communities may be better tailored to your needs, e.g. women in business, creative businesses etc.

6. Memberships 

You can join local groups to meet other business owners, for example your areas Chamber of Commerce or National Enterprise Network.

7. Business Consultant 

This is a bit of a short cut and you will more than likely have to pay for the service as it’s a customer/service provider transaction. This could work for you if you just need to solve some issues or have an outside point of view and aren’t comfortable with building a traditional mentor/mentee relationship.

8. YouTube & Other Social Media. 

This again may be a bit of a cheat as it’s a one-way street of you consuming the business ‘gurus’ content and you probably won’t get the opportunity to ask personalised questions. When researching or strategizing watching advice channels, they can spark ideas that you can translate to your business. And you never know if you do reach out, they may become your dream mentor!
Once you’ve found someone that is happy to be your mentor and you their mentee set boundaries, be fully prepared whenever you have a meeting and don’t over run your allotted time agreed with them. You also don’t have to stick to one mentor or continue being mentored by them if you feel it’s run its course.

Resources 

Find or become a mentor with Mentors Me.
Find a mentor with Meet a Mentor.
If you get a start up loan through the British Business Bank you will gain access to their mentoring program

5 Top Tips for Small Businesses at Christmas Markets

As the nights draw in and we start to swap our chilled Savvie B for toasty mulled wine, small business owners are gearing up for their busiest time of the year. Christmas markets and pop-ups can provide a seasonal cash generating ‘bricks and mortar’ opportunity for many online businesses. Not to mention they are a fantastic way to feel more part of the indie business community, reach new audiences and meet customers face-to-face. Festive pop-ups can be great however they don’t come without their challenges. We sat down with bespoke online jewellery brand owner, Esme Rogers Evans to get her top tips to maximise sales during the most wonderful time of the year.

1. Pick the right market. 

‘I’ve done fantastic pop-ups in central London which were amazing for social media content and PR, but we didn’t see the sales we would have liked,’ Esme explains. ‘Think about whether the market and location is right for your particular product and target audience. Also consider if you’re happy to take a risk for the PR, or if you need to save cash only sign up for the markets you’ll definitely make sales at.’
Many events use marketing buzzwords such as ‘sustainable brands’, ‘independent’ and ‘ethically sourced’ in their promotions. This may all be true, but this doesn’t mean it will automatically bring buyers to your fantastic indie business. Do some research and find out who else is going to be there.
Considerations should include:
● Price points – are you similar, way above or way below other brands with a stall?
● Would your customers usually go to this or a similar location?
● How long is the market there for, how well known is it and what reputation does it have?

2. Cash isn’t king. 

Have some sort of digital payment system set up, especially if you have higher ticket items. Esme recommends Sum Up as it is easy to pair with your phone, straightforward to use and cost effective. If your items are priced at the lower end of the spectrum it may be worth simplifying or rounding up your prices to limit the amount of change, you’ll need to take with you.
It is also worth noting here that you may want to take a portable phone charger with you. You won’t always be positioned near a power point. In the quieter moments of the market, it’s a great time to catch up on emails or make content, both will drain your phone’s battery and might leave you in a pickle during the busier times.

3. Presentation. 

‘Don’t spend lots of money on plinths or fancy display units when you’re just starting out,’ advises Esmé, ‘I recently invested in some lighting for my stalls, the reflection highlights the jewellery beautifully and the glow from the table draws people in’.
It’s essential to do a test run of how you will set your stall up. Think about creative (and inexpensive) ways to display your products. Lighting is a fantastic and simple way to make you stand out. Remember about your plug sockets though and consider using battery powered lights.

4. Parking. 

‘If your event is relatively close, I would always advise doing a parking reccy beforehand’, says Esmé. Many locations won’t have parking directly outside so consider how to transport your goods to the venue once you get there as well.

5. Creature comforts. 

Markets can be long days, they can also be outside, and we all know how reliable the Great British weather is, especially in winter.
‘My top tip is to take cardboard to stand on. It may sound silly, but when you’re outside all day on your feet it can be kinder on your soles, and it gives you that little bit of extra insulation from the cold floor which will provide much needed warmth’.
Other top tips for the day from Esmé include:
● Take your favourite warm drink in a flask for the colder hours at the end of the day.
● Stay hydrated with water but don’t drink too much. You don’t want to miss customers because of frequent bathroom trips.
● Wear layers.
● Make friends! Talk to your fellow stall holders, this can be an informal way to build new connections and you can have someone look after your stall whilst you pop to the loo.
● Have a fold down chair.
● Take a craft with you. If you can make your product on the stall, that’s fantastic. Alternatively if this doesn’t apply, take a hobby project with you. It will keep you occupied during the quieter moments and will showcase how amazingly creative you are!
● And if you use interesting tools when making your work, consider displaying them alongside your products in an interesting way. People want to know how things are made and it’s a fantastic way of sparking a conversation that isn’t directly about selling your products.
Find out more about Duxford Studios here and follow them here.
Want to see Duxford Studios in real life? Catch them this Christmas at:
Cardiff Indie Collective’s Christmas Market at Big Moose Café, Cardiff on the 2nd December. For more info, head to their site here or visit their Instagram @cardiffindiecollective.
Seekd Christmas Pop Up at One New Change, London, EC4M 9AF from the 6th December – 24th December. Seekd is the marketplace for unique, chic, eco-friendly jewellery & accessories that give back to people and the planet. Visit their website here and follow them on Instagram @seekdfashion

Questions to Ask Yourself when Writing a Business Plan

A considered business plan will not only help you get organised and crystalise your vision, it is also essential if you are seeking outside funding.

1. What should be at the beginning of my business plan? 

The executive summary, this should be 6 short paragraphs on the following subjects to give an overview of your business. This is your big opening number so keep it concise, professionally presented and attention grabbing!
What the name and function of the business is.
What makes you unique within your industry.
How you are going to become known to your target audience.
How you will structure your business.
Top line finance facts outlining when you expect to break even, potential revenue and profit projections. Have detailed reports to back up these attention-grabbing figures. Note you will have chance to go into more depth in your analysis section (see point 2).
State how much money you are asking for and what the investor(s) will get in return.

2. What analysis should I do? 

After your executive summary should come your analysis section full of facts to make your potential investor realise this is their one-way ticket to private island ownership!
There are many areas and types of analysis you can carry out either before starting your business or prior to writing your business plan. It is good to decide which you think are necessary/most helpful, consider if it is possible for you to gather useful/accurate data for the report and how long to spend on the process. Add attractive headline statistics from your findings to your business plan and have the in-depth reports to back your figures up if questions are asked.
SWOT (strengths, weaknesses, opportunities, threats) analysis. This is usually presented in a grid format on one page with bullet points. This kind of breakdown can be applied to many different areas of your business as well as your competitors and the industry as a whole.
Quantitative data and qualitative findings. It is best to have a mix of these within your business plan, ignoring either can leave serious blind spots in your presentation and business strategies.
Financial projections. You may need a professionals help with this one but if you are asking for any fiscal input, investors will need to see that their contribution will eventually yield a return. Be honest, adjust your plans inline with the numbers and be certain you can achieve what you say.

3. Have you thought about the day-to-day running of your business? 

You may have already started your business and are writing a business plan when looking for investment. If this is the case explaining the operational factors behind your business will be easier, but this is a good chance to review them and see how you could improve them. Do this and add it after the analysis section of your business plan.
Alternatively, if you are writing your business plan pre-start up or during the beginning of your journey to going full-time with your venture, this is where you get into the inner workings of your business to help investors visualise the dream. This part is relatively straight forward but demonstrates you have considered the practicalities of your operation.
Staffing, team members, contractors, freelancers, mentors, outside advisors. It is good to have these laid out in a hierarchical flow chart and to briefly outline what each person’s experience will bring to the business.
Premises. Even if you are an online business you will need to state where stock will be stored and shipping will be done from.
Record keeping. Explain how the administration of the business will be kept up to date. Include details of your accountant here.
And hey presto, you have your business plan! We would always advise putting this together pre-start up, even if you are not looking for outside investment just yet. It does not have to be super slick or go into minutia detail if you are not presenting to people outside your business, it can be a great opportunity to take a step back and see the bigger picture to ensure you are on the right track and have not missed anything.