Why a Business Mentor builds business growth

The latest research from the Journal of Small business Management clearly illustrates that having a business mentor/advisor favours venture growth.

Here are the key findings:

From Capelleras et al, Journal of Small Business Management 2010 48(3) pp. 302-324

1. Having worked in the same industry favours speed (to establishment) for entrepreneurs but does little to improve their growth.
2. Relationships with executives are also likely to enhance the subsequent growth of the venture.
3. Previously unemployed entrepreneurs set up more quickly but have slower growing ventures
4. Entrepreneurs who take more time to create the venture tend to receive better growth outcomes than those who go through the process more quickly.