You might not call them mentors, but you probably have a trusted group of people in your personal life that you can call on for support and advice. When times get tough, talking it over with someone who has been there and done that can make all the difference. One piece of good advice and you are back on the right road again.
Businesses need mentors at an early stage and there is evidence that this approach does work – 70% of small businesses that receive mentoring survive for five years or more. That is double the rate of those that don’t.
So my first piece of advice is to get together a “business family” who can provide you with the skills, advice and support you need to tackle the challenges ahead.
I believe that an experienced accountant will be a vital member of your “business family”