Business mentoring is a valuable resource for anyone who wants to generate profits with their business. The problem, is that many entrepreneurs avoid working with a mentor because they think that it costs too much and they can’t afford it at the moment. But what they don’t realize is that they can’t afford not too if they want to succeed. Many businesses go out of business within the first three years of existence because they don’t know what to do and make costly mistakes that cut into their profits.
With a business mentor you have someone who has valuable experience and will keep you from making those mistakes. They have their own successful businesses and know what needs to be done to run a profitable business. Having someone like this to go to that will show you exactly what needs to be done is worth every penny. Your business will in turn, make more money.
That alone should sell you on getting business mentoring but if you are still not sure, here are three signs that you do:
You Are Just Starting
If you are starting a brand new business and have no prior experience running a successful one, you need a mentor. There are many reasons why this is true but the main one is that you are going into this blind and have no idea what problems you will face. Even more important is that you don’t know how to solve those problems. Wouldn’t it be nice to know ahead of time how to fix these problems? Or better yet, how to avoid these problems altogether? Of course it would be! A mentor can provide this to you because he has probably seen it all before.
You’ve Hit a Plateau
So maybe you have had your business for a few years now and are making a profit, but you can’t seem to get to the next level. You have tried many things to bring in more profits but nothing seems to work. Well, a mentor can help you with this. Find a mentor that has experience and chances are they have gone through this before and figured out what needs to be done. So stop pulling your hair out and ask someone who knows the answer.
Your Profits Are Dropping
Maybe you have had a business for a few years, have made a profit, increased your profits to the next level, but now your profits are dropping like a lead balloon. This is definitely a great time to get a mentor. Yes you are experienced and may think you don’t need a mentor and can figure it out on your own, but you can never have too much experience on your side. A mentor will have gone through the same thing before and already knows how to get out of it. Don’t do it the hard way and ignore this valuable resource. And remember… time is money!
As you can see business mentoring will be one of the smartest moves you have ever made to grow a successful business. Sure it may cost you a bit of money to invest in a mentor but the value you get from your mentor will surely outweigh the cost!