Page 73 - Webinar workbook

Chapter 6

Business Mentor

Mentoring is most often defined as a professional relationship in which an experienced person

(the mentor) supports and encourages people to develop specific skills and knowledge that will
maximize their business potential and improve their performance. In short, it is the transfer of
knowledge, skills and experience.

1. Where else are you going to turn?

Once you launch into your own business, there's no boss to turn to for advice or direction when

you're in a pinch—maybe not even any employees yet. Although you're flying solo, you don't
have to be. Everybody needs a good reliable sounding board, second opinion, and sometimes
just emotional support when the times get tough (which they will).

2. They've "been there and done that".

Perhaps the most obvious benefit of finding a business mentor is that you can learn from their
previous mistakes and successes. Your mentor doesn't need to have experience in your

particular industry—though it helps if they do—so that you're maximizing your opportunities to
leverage key relationships. They don't have to be up on the latest trends or technology—you've
got other sources for that. Your mentor's role is to share with you lessons from their experience
in the hopes that you can learn them quickly and easily.

3. It's (usually) free.

If you're on a tight budget, that's a major factor. While good coaches and consultants may be
able to offer some things that a mentor doesn't, it almost always comes at a price, usually of
several hundred dollars (or more) each month. Mentors, though, are readily available, free of
charge through a number of organizations, such as SCORE (Service Corps Of Retired Executives)
and many other groups. But plan on at least treating your mentor to lunch or coffee when you

meet together.

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