Business Partners

Business Partners - Together, we will grow your business

Every application is duly considered on its merits and on the potential where profit is concerned.

There are crucial criteria that we look at to aid our decision, which includes the experience and industry knowledge of the business owner and the market need for the quick loan products or services that the business wishes to provide.

Business Partners offer tips to boost your business with the right mentor

1. Seek experience

Consultants are great for short-term needs and assistance; however, mentors will help you over a longer period. They come with a level of expertise that consultants simply aren’t equipped to offer.

A consultant might resolve a specific issue, where mentors look at the holistic problem and tailor a fix through knowledge and experience. Mentors have a wealth of experience as entrepreneurs and know when a business requires a business loan or cash injection.

2. Look for motivation

Consultants exchange a service for a fee, where mentors are driven by the satisfaction of business growth as a result of their actions and advice. This is not to say that mentors are free, but rather that their involvement is deeper than the monetary reward for their services.  

3. Having a connection is important

Try and source a mentor that you feel you can work with. It is far easier and more beneficial in the long run when a mentor and his entrepreneur are like-minded, on the same page and ultimately communicate well. There are many who can and will do the job regardless, but it’s certainly a better recipe for success to get along with your mentor.

4. Build a trustworthy relationship

Mentors need to promote trust and confidentiality to their entrepreneurs. That said, it isn’t only the mentor’s job, the business owner should too. Being transparent will go a long way on both sides. Based on the level of service and satisfaction that mentors seek from their efforts, it’s a good idea to not ignore their advice, as they wouldn’t respond well to that.

5. Ensure that there is mutual value

Mentors should definitely reap benefits from the relationship between themselves and the business owner they are working with. If the value feels a little one-sided, then the relationship will struggle. A fee to the mentor is the simplest form of reciprocated value, but there is always the option of a bartering deal that too, would be acceptable.

6. Get a facilitator

Since the relationship between the two parties is quite complex, sourcing the ideal mentor can seem daunting. However, there is no real need to feel the heat of this process because there are a number of programmes aimed at engineering a relationship between mentors and entrepreneurs.  

7. Communication is key

As with any healthy and strong relationship, communication is fundamental to the longevity of it. Being open and honest at all times will be crucial for this to work. A mentor will give you the best advice if he knows all the ins and outs without any hidden facets to the business.