Why EVERY business needs a Mentor

Starting a business tests the mettle of the hardiest contenders, but entrepreneurs have always loved a challenge!

mentorWhilst it can be seat-of-your-pants stuff, there are ways to navigate this labyrinth and come out smiling. One of the most underpublicised secrets is to latch onto a Mentor.

History has shown the benefits of Mentors – think Quincy Jones and Ray Charles or Jobs and Zuckerberg. 

A working arrangement with a seasoned Mentor will not only save your sanity but also help you boost profits and business value. 

9 reasons why every business needs a Mentor

  1. Celebrating – It can get pretty lonely unless you share the highs with someone. Your wins are their wins; there's no tall poppy syndrome – it's all about support. 
  2. Motivating – There'll be days when you're brought to your knees and things will hit you hard. When that happens, a Mentor is in your corner to give you that pep talk and keep you moving forward, regroup and face another day. 
  3. Accountability – Your Mentor has no patience for distractions because they've seen and done it all before. Cue your Mentor to make sure you're accountable for your time, with your eye on the prize.
  4. Hindsight – A skilled Mentor will never make you feel like you're failing. They're ready to teach, explain, inspire and motivate to make sure you understand every step of your business journey.
  5. Investment – Saying 'yes' to investing in yourself can feel like a huge step but, with the right Mentor, it should pay for itself in spades. Not only that, a Mentor saves you making costly mistakes. 
  6. Fast-tracking decisions – Indecision is a buzz-kill and, while you'll never have an objective perspective on your business, your Mentor will. They'll help you see the pros and cons so you have confidence in your decision-making.
  7. Business-ese – In life, there are few people who'll listen to you talk (ad nauseam) about your lead pipeline, sales conversions goals, cash flow or new product ideas, but your Mentor is on hand for all of it and more. 
  8. Educator – This is where a Mentor is worth their weight in gold. They've grown and scaled successful businesses before so are ready to act as your guide to growth and expansion. Essentially, they become a COO in your business, ready to work by your side to launch, leverage and help scale your empire.
  9. Potential – Your Mentor is there to push you, encourage you to set BHAGs and help you get positive results. Helping you succeed is their ultimate goal so the right Mentor will also introduce you to their network and open doors that might normally stay closed.

Finding a Mentor right for you
The perfect Mentor is one that helps you believe that anything is possible and then walks with you every step of the way. They are invested in your business and, more importantly, they're invested in you. Your success is their success; your trials are their trials. But how do you locate and tap into the value of having a business mentor?

At Collins Hume we work with business owners in various ways to act as a Mentor to help fast track results. If you're interested in knowing more, we have a range of programs available, so call us on 02 6686 3000 or check out our Board of Advice (BOA) information sheet on our website.

Collins Hume partner with you to achieve greater business and lifestyle success as your trusted advisers. Call us in Ballina or Byron Bay on 02 6686 3000.