How many home-based businesses do you think fail each year? This question, though interesting is not the question we should be asking, but rather why do they fail and what can be done to ensure that the opportunity for failure is limited?

I have heard it said that small business failure is actually brought on by lack of planning. This statement is probably true, and one that should be taken to heart by every person contemplating starting a home-based business. However, what about knowing how to deal with things that you have not planned for and how about times when you need objective advice, what then? The answer lies in having a mentor.

What is a mentor and why would someone want to have a mentor? A simplistic definition of a mentor is someone who has experience in the field or area you are contemplating entering and is in a privileged position to consult with you on a variety of situations.

Mentors typically are of value in two areas: