To Overcome Fears of Starting a New Business, Mentorship is an Important Key

Starting a small business can be intimidating. According to survey results released today by The UPS Store of people who own or who have dreamed of owning a small business, starting that business comes in second in terms of the "scariest life-changing" events that they may face, just behind concerns about retirement savings. In fact, starting a small business ranks scarier than getting a divorce, becoming a parent for the first time, or moving to a new city. The survey, conducted with over 1,700 general consumers and small business owners nationwide, also reveals that when it comes to launching a small business, mentors are an important resource in helping up-and-coming entrepreneurs overcome fears and obstacles.

According to the survey, 82 percent of small business owners who worked with a mentor while starting their business found the experience helpful in getting them through the process. Additionally, approximately one-third of those who did not have a mentor wish they would have had one. Those who are dreaming of starting a business also believe mentoring has value, with 73 percent reporting that seeking firsthand advice from others in their situation would be helpful.

Preparation also plays a key role in helping small business owners ready themselves for the entrepreneurial challenges that lie ahead. The survey revealed that 55% of current small business owners felt prepared, as a whole, when they first started their business. And more than 50 percent of current small business owners report that they were actually better prepared to start their business than they originally thought.

To further its commitment to small business owners and help them achieve their goals, The UPS Store is collaborating with SCORE to assist small businesses in getting off the ground and achieving their goals.

Over the next few weeks, The UPS Store will be offering unique learning opportunities and solutions for small business owners, with a special focus on those starting businesses while working full-time:

• On March 18, The UPS Store will release the guide, 16 Steps to Starting a Business While Working Full-Time, on SCORE.org and TheUPSStore.com/SCORE. Also, a free webinar based on the guide will be held on March 26 at 1 p.m. Eastern on SCORE.org.
• On April 23, The UPS Store will join small business guru @barrymoltz for a live Twitter chat at 6:00 p.m. Eastern, to discuss how to start a business while working full time. Follow along on social media using the hashtag #SmallBizGuide.
• To help business owners present a professional image, The UPS Store is offering 500 business cards for $9.99. (Promotion runs through April 11.)
• The UPS Store continues to update its Small Business Solutions portal with helpful content for small business owners. The portal includes a small business-focused blog with articles, tips, and advice from small business experts, as well as resources and exclusive discounts on accounting, consulting, marketing, web design and other services small business owners need.

For more information, visit The UPS Store’s Small Business Solutions portal at smallbiz.theupsstore.com.

For more results from The UPS Store survey, visit theupsstore.com/score.

Survey Methodology

The results of the survey are based on an online survey conducted January 20 - 26, 2015 by The UPS Store, Inc., franchisor of The UPS Store network, with general consumers age 18+ and small business owners. The online study was conducted with 1,200 general consumers and 506 small business owners.