Why A Business Mentor Is Important

A business mentor has been there and done that. They know what it takes to put your business at the forefront, and how to handle any situation, no matter how difficult. For instance, competing with bigger players.

“Mentoring is a brain to pick, an ear to listen and a push in the right direction.” – John Crosby

Surveys suggest some 32% of businesses find controlling costs and marketing difficult. Another 27% said increasing their customer base was challenging. However, with a mentor such as Budget One, a business and financial planning group who assist Xpresso and Jim's Financial Services franchises, this need not be the case.

Why a Business Mentor is ‘A Must’

According to John Rampton, entrepreneur, "While its exciting to fly solo, the reality is you might not have done enough for business sustainability." Rampton regularly uses a mentor and says they are valuable. So here are my top 7 reasons why you should invest in a mentor.

The 7 core benefits of a mentor

1. Increased success - 75 percent of mentored small businesses survive 5 or more years, double that of non-mentored businesses.
2. Sharing lessons to reduce ‘rookie’ mistakes - Rookie franchising mistakes include being too enthusiastic, doing too much, too soon, and being ill prepared.
3. Building confidence - Confidence comes from learning, clear vision and optimism. You’ll also need to ditch doubt, take risks, and recognise
4. Enhancing decision- Making and problem-solving skills - Use data as guidance. Then, discuss and develop actions to move around obstacles using critical thinking.
5. Using business planning and management tools – You will have a clear vision and strategy of where you want your business to be, how you are going to get there and insight into progress. Tools enable greater efficiency and manage relationships.
6. Accelerating growth and profit - A good mentor will identify both areas of opportunity and concerns along with a sound action plan to drive your business forward.
7. Decreasing stress and increasing happiness- Knowing where you’re heading and how you’re getting there reduces anxiety. Plus, less stress lets you smile more.

Is a Mentor Right For Me?

Mentoring is ideal for novice and seasoned business owners who are:

• Hungry for success
• Open to development
• Willing to listen
• Able to act on feedback
• Driven to succeed even in tough times
• Wanting to improve their business.

Regardless of whether you are about to embark on a new journey or your business is sluggish in growth or you just feel you are going around in circles, a mentor is someone who is there to listen and help you think things through.

Running a business can be lonely and tough. You don’t have to do it alone.

Expanding your knowledge and skills while gaining valuable advice, is one sure way of accelerating your business growth and success.

"Taso has helped me to identify clear objectives for my business and create a simple plan. We are always in contact and Taso has been very generous in sharing his knowledge, experience and resources. Since working with Taso, I have clear vision on the goals and now have the framework upon which to grow my business."  Roxanne Sarthou, Owner, Handbag Salon.

BudgetOne’s Start Up Success and Business Success programme includes mentoring and starts from $150 per month.

If you want to:

• Grow business.
• Increase profits.
• Pay debts sooner.
• Stay on track.
• Gain unlimited support.
• Action plans.
• Avoid costly mistakes.
• Improve reliability and credibility.
• Decrease stress.
• Create a happier work environment.

Call Taso today on 0429 142 413 for a free, informal chat about your business aspirations

Author Taso Tounis