The Collins English Dictionary defines mentor as a “wise, trusted advisor, a guide”.

Nearly everybody has someone they turn to in times of need for that little fillip to help them through life’s journey. So too, in business can a mentor provide some well-founded advice to overcome an obstacle, solve a problem or encourage a move to the next level.

Unfortunately many small business operators are unaware of the benefits of engaging a mentor to help them achieve maximum business potential.

Being proactive is the key, be it for a beginning business, developing business or an established business that may be encountering problems or just someone who isn’t sure how to take the next step.

Make the decision to act early rather than late as it is easier to maintain than fix. Once engaged, a business mentor is able to develop, with assistance and cooperation from the business operator, tailored solutions and programs.

First step is a business health check.

Areas of concern, issues or problems are identified and prioritised for rectification or improvement. As the business operator you are given practical advice that works for your business, you will increase your knowledge and skill base and feel more confident by the encouragement and professional support.

Business mentors’ suggestions and ideas are bias-free, non-emotional and impartially made with complete integrity based on their broad industry experience. This experience is too valuable not to be accessed. Mentors bring clarity to business issues and provide more efficient ways to achieve goals and objectives. They provide options and strategies to plan and implement improved business practice.

Two case studies illustrate this point.

One involves improving marketing resources. This business already operated a six-figure marketing budget. Research covering the previous three years showed 30% to be ineffective. This money was redirected to more effective successful marketing strategies.

Not a bad result for a few hours with a business mentor.

In the second case study, the business wanted a more in-depth understanding of the financials. A range of spreadsheets covering direct and indirect costs, break-even calculations and profit tables was examined. Better financial decisions were then made based on this examination with immediate and effective benefits.

Sometimes business operators think it is a sign of weakness or failure to access a mentor. Two examples from quite diverse fields demonstrate this is not so.

Businesses do face many challenges and a business mentor can be a vital part on the road to success. Shop around, choose one for you. There are a number of State and Federal programs available to help business operators working in conjunction with business mentors advance their business development.

How often do we hear in the after-game wash up a coach say, ‘we lost concentration, took our eye off the ball and it cost us the game’.

Sport is only a game; business is your livelihood.

Lifting your business game then becomes serious, sometimes requiring outside help, a coach if you like, alerting business managers to looming concerns or identifying areas needing adjustment.  Coaches - business mentors provide expert appraisal and analysis and make recommendations for remediation. Often problems are quite simple needing only an impartial business health check to pinpoint a problem enabling business to return quickly back on target.

If the way has been lost, even slightly, don’t pretend it’s not happening. Face the fact that the annual plan may have to be tweaked.  Not withstanding anything else, financial circumstances have certainly changed since July 2009.  As I have said before in this column not ALL problems can be foreseen; but if business plans have been monitored regularly most should have been avoided.  If the concern is not easily identified or remedied – again, seek help.  Businesses do lose their way and without direction can quickly become unprofitable.

It is vital that a business knows exactly where it is at this time of the year because at the time of going to press there are only about seventy days to next financial year.  What then still needs to be done?

Business managers will be conscious of working towards the current year’s goals.  What was to be achieved when setting out last July?  Is the business still on track?  Have all, some, none of the targets been achieved?  A quick revisit to the business plan will reveal if the eye has been inadvertently taken off the ball.

A worthwhile tactic at this time is to work backwards, that is envision the end of year goal, then organise what needs to be done to achieve it from where the business is now.  It is not too dissimilar to a batsman envisioning a century and working his innings in batches of ten runs at a time.

Both a long innings and achievement of year-end targets need firm foundations.  Are resources that are currently in place in the business able to provide that foundation to support progress to the end of financial year goal?  Again, if there is uncertainty seek a mentor’s help.

Hopefully none of the above will prove too traumatic and the business is ideally placed to move ahead in July because planning is well in hand for 2010/11.  Isn’t it?

Oh, and what about 2012, 2014, 2016?  How is the business to be situated then?

Most businesses want to change but are not sure how to improve the business. In my 14 years of business mentoring, I have found owners will invest resources and want the best results for their investment. Sounds fair enough, but what should the business owner be investing in, new equipment, staff, business advice, education, new skills, training? There can be a long list of requirements. Answer – business owners are always looking for efficiencies, but what about change?   

If an owner doesn’t have the skills set to effect the changes, how does the business owner know what to look for and how to assess it?
 
Generally speaking I have found that most obstacles in business are knowledge and information based. Knowledge could include Small Business Management skills, Technical knowledge, Communication skills, public speaking skills etc.    

Ego and Pride also has a fair bit to do with the resistance to change.  Year after year the same problems, the same cash flow issues, the same staff issues and the same tax issues, the same profit issues.        

Growth is about Change, Status Quo is about Change, and if we don’t change we will become extinct. Change requires courage and business owners need to be open to new ideas, adapting old strategies and adopting new ones. The strategies that worked 10 years ago, are not working today; its time to find some new ways of conducting business (Change).
Organizations that are slow to change or don’t respond could find it difficult to maintain current profitability. Owners that want to improve the position of the business are open to Change. If we change nothing, nothing changes.

Think about creating a new culture in the business, one of education and training. Look at new techniques for performance, identifying those areas of change will require a thorough investigation. Be open to a range of options and understand that to change, the first thing is “Are You as a business owner Ready and Want to Change”

In Summary – barriers to change are technical and personal.

We must know the costs. Best practice suggests that every business should have a financial budget for each financial year. If the business doesn’t have one then now is the time to prepare one. The first budget that should be prepared is the cash flow budget and profit and loss budget. It includes forecasting sales, expenses and capital requirements.    

When we analyze the profit and loss report, cash flow forecast report and sales budgets reports; compare the budget to actual performance regularly. Gain an understanding of the cost centres and understand the characteristics of each one. We know the constant costs such as rent, insurance wages etc, but what about all the variables?  What impact do they have on cash flow?    
The same understanding is needed for sales performance - how are sales performing to expectations. Are there budgets in place for the sales team? What are the direct costs associated with each sale? A key area linked to income is the costing of the marketing plan which measures the return on investment for each initiative. Knowing the numbers here can lead to increasing the marketing efforts into activities that are working and get rid of the ones that are not working.    

Planning is essential for business. It is not a “one-off” activity; treat it as an ongoing process. It can provide the business with the overall direction and a summary overview of the way it is likely to operate and an indication of how profitable and viable it is in the market place.

Knowing the numbers will be useful in looking at the assets needed to operate the business, ensuring the business can raise the capital to finance the assets needed. It will also make sure that the business has the funds to meet the commitments as they are due.

It helps the owner know what to look out for and what to control. The owner can make informed decisions based on factual information, not just guesses. Without knowing the numbers we are flying blind.  In summary there are numerous budgeting templates out there so I would suggest talking to your accountant and bank manager.

What is this planning all about?  It is a document that defines the business, a bit like a Road Map for the next 12 months. It identifies your goals, and assists in the daily running of the business. The development of the plan encourages the business owner to write down key objectives, helps allocate resources properly, provides specific and organized information, and is a crucial part of the financial package.

The benefits of preparing the Business Plan are; it sets out a clear direction to help ensure that the opportunity you have identified matches your goals and ambitions. Planning allows the business to examine ideas carefully, and assists in the decisions covering time, resources and financial commitment. A key area in the development of the plan is that it helps challenge old ideas and creates a climate for new innovations.

The main areas that it covers includes an Executive Summary(key points),  a marketing plan, operations plan, management and staffing, financial forecasts, risk assessments, an action plan, and I would ad market research information as well.

I have found from my experience that there are many barriers to planning which include fear of the unknown, fear of the future, fear of failure, and fear of success, and how do we write them. The business is changing quickly and planning is not seen as worthwhile.

Before starting the business plan obtain advice from your accountant and bank manager, and check out the templates. There is a wealth of information and resources available and source a template that suits your business. 

The business plan doesn’t need to be complicated. They are a desk top document that is used daily to measure the performance of what has been planned. When it is measurable it is easier to evaluate and manage.

There are six phases in the business cycle. Which phase is the business currently in and what needs to be done to continue maintaining a sustainable business?

Phase 1 is the introduction, market research is completed and the business plan is ready to be implemented. Capital is in place and the business is open and trading. It is one of survival, committing resources to promote the business and building and retaining customers. Best practice suggests using the business plan to check progress against planned strategies.

Phase 2 is all about growth. Every aspect of the business is under closer scrutiny. Check how effective the marketing strategies are going, business systems are evolving and changing in line with growth, monitoring financials including sales and profit growth. Resources are implemented in line with growth targets. The business is seeking new opportunities.

Phase 3 is the maturity phase. The business is experiencing constant sales and constant profits. This phase is also referred to as the comfort or complacency phase. Causes for this are many such as new competition, new products and services, market shifts in consumer demand, social and cultural changes and the owner’s objectives. The maturity phase still needs to be monitored regularly.        

Phase 4 is the extension phase whereby a businesses products and services have an extended life. Fashion and music are good examples of this.

Phase 5 is the decline phase. The business is experiencing a decline in profits; competition is more prevalent, staff problems, cutting costs, and generally turning into another statistic.    

Phase 6 is R.I.P. So why did this happen? There are numerous reasons why the business is dead; Lack of business skills and knowledge, personal extravagance, no markets for products and services, cash flow problems, no plans or goals, business running reactively, partnership problems and failure to seek professional advice( to name a few).

ASK for the order! This simple 3 letter word separates the top flight sales person from the average ones.  A lot of sales people have gone through all the various steps of the sale, then stand back and are not sure how to finalize the sale, so they wait for the customer to buy. Timing is critical here - push the customer risk losing the sale. Too many sale people try and rush the sale, try and create a sense of urgency, talk too fast, look agitated. The writing is on the wall and a good way to lose a customer.

What are some of the best ways to close the sale? It is important to read the buying signals.

Examples as follows;

• Closing on minor points – throughout the presentation, be very aware of all the minor points that the customer has agreed upon. Here again good questioning technique is required, and Listen Listen Listen.
• Assuming the sale – From the very start of the sale, the sale person needs to believe they will satisfy the customer’s needs. Remember what I said in column 2 about Attitude. The unspoken gesture of tell-tale body language that says to the observer – everything. Our customers have formed an opinion of us.
• The options close - very effective technique and used extensively. Sales people need to have options available so that when a customer can’t make up their mind, then option closing can help finalize the decisions.
• Asking for the sale – again timing is important here, rush it and watch what happens! Ensure that the pace of the sale is inline with the customer’s pace, they are slow so are we, they are fast moving, so are we.
• Trial closing – don’t have to wait until the end of the presentation to close the sale. We should be thinking about closing the sale right back at the beginning. This is where flexibility is needed also. Go with the flow of the sale.
• Special incentives to help close the sale – make sure that the sales person is aware of all the company’s promotions.
• Special offer close – very effective technique used in closing the sale by providing a gift or special deal.

In Summary,

Know everything that is needed to close the sale and satisfy the customer’s needs. Treat people with respect and dignity all the time and you’re life as a sales professional will be richly rewarded. It is a great profession servicing customer’s needs. There is nothing more rewarding than to experience a satisfied customer.

And a final word of advice from someone who has been in the public area for 37 years, treat people badly then watch out for the consequences.

Communication is derived from Latin origins that describe the idea of oneness of understanding. Communication means a sharing of understanding, meanings, ideas and feelings.

Sales people need to know HOW to communicate, listen not just hear. Listening is important and studies have shown that 75-95% of the working day is spent communicating. Areas that affect listening effectively include selective attention, expectations, fear of being influenced, personal bias, boredom, listening only to words, and poor timing.

If we as sales people want to be better listeners then we need to practice listening. Here are some tips

• Focus on what is being said
• No need to be critical
• Avoid making instant judgments
• Don’t evaluate until the person has finished speaking
• Mustn’t pretend we are listening
• Listening involves body language
• Avoid distractions
• Take notes

Effective listening will result in better outcomes, and when the customer is encouraged to talk to a good listening sales person, they may discover better solutions for the customer. When we listen, not just hear the customer, we understand them better. Listening takes practice - practice - practice.

Some listening practice includes the following, listen to the advertisements on the TV then go away and write down what has been said, come back and compare what had been said to your notes. Listen to the radio and write down what has been said, again advertisements and lyrics.

Selling is a profession that uses these skills and tools with experience and practice. Listening involves preparation which includes concentrating on what we are saying, the tone of our voice, the speed of words etc and Plan Every Word Carefully. We must be able to hear what our customers want.
If we want to understand our customers better we must learn to listen more tentatively.”

Attitude is everything,  that unspoken gesture of tell-tale body language that says so much to the observer.

Potential customers pick up on such signs and gestures, or lack of them, and sometimes you may not even be aware you have done so; but your potential customer is already forming an opinion about you and your business before they are very much past your door.  Just the same as you’re assessing them – is this person a potential customer, are they ‘just browsing’, can I turn ‘just browsing’ to my advantage, a possible sale? You are being ‘sussed out’.

It is the time to be consciously approachable, affable, and positive.

Remember, first impressions…

Attitude, reflected by your body language is important. It is your first weapon of attack. And if it’s not appropriate you may have just lose a chance.

If the customer, in taking those first few steps into your premises, perceives you as being disinterested, ambivalent or even seemingly hostile, they are more than likely to turn to someone else.  If you are lucky it may be someone else in your business; but more probably it will be someone else with a better attitude in your rival’s business.

Be nice to people, treat them as you would like to be treated.

It is the people who do that in your business who will help make your business successful. An appropriate attitude presents the warm, welcoming face of your company. You are seen as a business with the customer’s interests a priority. They will want to do business with you.
 
So,  even on the days when you don’t much feel like it – too tired, too hot, too busy – do it.  Don’t let an opportunity slip past because you couldn’t be bothered raising a smile.

Sales persons suffer bad press.  They are the butt of countless jokes.  Did you hear the one about the used car/insurance/travelling salesman? And current affairs programs just love pillorying them. Why? Because there is more than a grain of truth, some might say an entire crop, behind this derision; but you don’t have to be the one who adds to the experience.

Sales people give service or should they?.  

All sales people should ask themselves, “Why do I do this job?” If the answer is just for the money they won’t last very long at it, probably won’t be very successful at it, certainly won’t enjoy it, and the sooner they leave to find something they do like, the better for them, and their customers, if they have any left.

If you do not enjoy and are not motivated in your work, you do yourself, your product and your employer a disservice.  You are, by and large, wasting your time.

Again we come back to attitude.  It is your challenge. What motivates you? Are you passionate about your business and products? When clients walk through your door they’re in control, they can just as easily walk out again.  They need a warm, welcoming manner, a sincere greeting, not overenthusiastic - genuine - customers spot fake sincerity three blocks away.  In other words be yourself who you will be if you want to be there and believe in your product. It is your challenge. Customers expect that you the sales person will then help them, have a level of expertise to provide them with a service. They want sales people who support their friendly greeting with a demonstrated capacity to listen and profound product knowledge.

Be quick to listen is sound advice. Listen actively.  Allow customers to explain what they need and then apply what librarians term reference questioning to elicit as much information as needed to fill gaps and define options.

Sales people must have product size, colour, model, price range etc at their fingertips. It is one of your challenges to provide this service. Lack of product knowledge will kill a sale as quick as anything and product knowledge is so easy to acquire, possibly the easiest part of your job if you’re motivated.

Yvette Adams is among a group of young Sunshine Coast entrepreneurs keen to take their business to the next level.

For the past 18 months she has been running her multi-media company called thecreativecollective.com.au.

And last week she was among a group of ambitious young business owners who took part in the first of six workshops to be held under the Young Entrepreneurs Program (YEP), funded by the Federal Government and run by the Sunshine Coast Business Academy (SCBA).

Ms Adams said the workshop, which had the theme of business planning, had been “excellent”.

“I got heaps of ideas … doing the program makes you allocate time to do things like planning which you normally don’t do,” she said.

“It helps you define a strategy”

One of the presenters at the workshop was Wayne Graham, associate lecturer in management in the Faculty of Business at the University of the Sunshine Coast.

Mr Graham said research showed small businesses were often started by people with “great ideas, great skills and great enthusiasm”, but too often there was no strategy for growth or to navigate their business operating environment.

With that in mind, Mr Graham has developed a “strategy process diagnostic” which he described as “a tool to initiate dynamic business planning”, adding it had received “an overwhelming response”.

He said the process helped businesses identify actions they had already taken to encourage growth, and to give them some direction for the future.

All participants at the YEP workshop completed the diagnostic, which is a free, publicly available research tool, and is being used by more than 50 businesses and government organizations across Australia.

SCAB business development and mentoring officer Rod Richards said the YEP program was “designed to fill in identified gaps in the skills and knowledge of small business owners”.

Mr Richards said future workshops would cover topics including marketing, financial management and HR.

“I’ll also be doing one-on-one mentoring with all the participants,” he said.

“Through the program, we want to develop their businesses and their business skills.

“The bottom line is, we want to reduce the incidence of business failure.”

Chris and Genevieve Kendall of Coolum Surfing School had cause to celebrate of Sunday evening.

Not only had they recently been nominated for a Sunshine Coast Excellence in business Award for Tourism but they reached a milestone of eight years in business.

Joining them at the celebration at Lavish Fine Foods were member for Maroochydore Fiona Simpson, Coolum Surfing School staff, clients, friends and business mentor Rod Richards.

For Chris and Genevieve it is a dream come true.

They have poured their heart and soul into the business and were thrilled to be nominated for the award.

Chris, a former Queensland representative surfer, said he had found his ideal job.

“We have put everything into it,” he said.

Chris said starting the business cam about after a lot of soul searching.

After injuring his back he could no longer work in the hospitality business.

“I had the desire to work in an atmosphere I loved.” Chris said.

He became a coach and works and Noosa for a few years before being accepted into the NEIS program.

This meant he had the opportunity to study business and receive ongoing support once the couple had started the surf school.

Chris said the training he received was invaluable as was the support of mentor Rod Richards.

“I pride myself of the service we give (to clients).”

Chris knows it was a team effort that grew the school from three surfboards to 30 boards in the first three years.

“Without good staff I wouldn’t have the business I have today.” He said.

I’m living my dream.” Mr Richards said he admired Chris and Genevieve and believed that “they’re a good example of how to operate and build a business, and care for clients”.

“It has been an amazing journey,” Mr Richards said of the Kendall’s success.

Ms Simpson said that it was wonderful to see a local business doing well, employing local people and growing strong.

“(We can) never  take for granted people in business,” she said.

“It is not enough to have a dream,” she said.

“You have to put it into action.”

By Gail Loader

Two of the Coast’s most experienced businessmen have joined forces to improve the skills and knowledge of new business owners in the region.

Well-known business consultant Rod Richards and director of accounting firm East Group Australia Bill Wieland are offering a series of 10 Back to Basics workshops, with the first starting on November 24.

“There are a lot of people who set their new lifestyle up here on the Coast, they buy a business or try and set one up and then they run into difficulties,” Mr Richards said.

“We found there was a huge demand for giving them some nuts and bolts skills because a business won’t grow without skills and knowledge,

“This is purely about giving them the opportunity to learn some new ways to build their business and investigate areas where thy need to use their resources more effectively.”

Mr Wieland said he wanted not only to give good, solid advice but to live up to certain promises contained in the advertising for the workshops.

“I want to honour everything we say we are going to do on our flyer,” Mr Wieland said.

“We want to help people sleep better at night, help them if they are stressed out about cash flows,” He said.

“Most people don’t have the knowledge and they don’t know where to go for it.

“A lot of people are fearful of change and many people dot not like asking for help because there’s embarrassment and an element of failure there.”

Mr Richards said the series of workshops was aimed at new businesses with less than five staff unsure of how to grow, as well as those people with an idea for a business.

Like the skin on our bodies which is continuously changing to stay healthy, businesses too need to change for the same reason. Accepting the status quo can start death rattles for a business.

Often business owners might like to make changes but are either too frightened to do so or don’t know how to go about it. Facing the reality that your business does need some tinkering however, is the first step.

Business owners are faced constantly with new technologies, improved communication devices, new accounting practices and packages, staffing needs, new staff training and more.

While they will not all be for you, an astute owner will be aware of innovations and new practices as ways of enhancing a business.

Having then accepted the fact that change is needed, and having girded yourself to make a change, how to go about it?

Ego and pride can block otherwise sensible decisions. Just because you’re the boss, doesn’t mean you are all knowing.

Be prepared to accept advice from within and outside your organisation.

There are many business groups on the Sunshine Coast. Become a member, talk to others, bounce ideas off them.

If you don’t know how a new piece of technology might affect your business, maybe another business does, or they might recommend someone.

Networking can be a very easy avenue to finding the right advice for change. Then there are specialists – accountants, business mentors, financial advisors, technical experts, staff recruitment and training officers – a plethora of people waiting to give you advice. Use them.

Growth then is about change and change is about growth.

Organisations which are slow to change or don’t respond to a changing world will find it difficult to maintain profitability.

Strategies that worked 10 years ago mightn’t be so productive today.

Be courageous, change takes courage. Think about creating a new culture in the business, perhaps one of education and training, new techniques for better performance, better technology providing you and your business with more options. Be open to change and remember it is not the change, but the way you handle it that is important.

Don’t be complacent and content with status quo. Change could have you rocking the business world.

Mark and Debbie Planck have run successful businesses for years, but even they realised they could be better.

The husband and wife team, who own Swan Boat Hire and Swan Bites on Bradman, are almost half-way through two workshops offered by the Sunshine Coast Business Academy: Getting Down to Business 2 and Succession Planning.

“We wanted to gain a deeper understanding of the businesses through analysis, to be more informed,” Mrs Planck said.

“Even though we had a business plan, I don't think we utilised it to its fullest potential. So now we are able to improve on some existing practices.

“We have management in place in our business, but we are still very involved in various facets.

“These courses have given us the opportunity to step aside and take a helicopter view and look at it from the outside in.

“We understand that we need to have the vision and come up with strategies to achieve the vision...and then pass all that on to the people who work with you.

“That gives us a better position to forecast and plan where we're going.

“In uncertain times it gives you a bit more control over where you're going, rather than just hanging on for the ride.

“You don't feel so helpless and it saves any nasty surprises.”

Mrs Planck said she had particularly benefited from the one-on-one mentoring from presenter Rod Richards as well as the chance to learn from the other 14 businesses in the same course.

“We recently worked out where we wanted to be by June 2010 and we brainstormed goals and put timelines on them.

“We talk a lot, but to actually put it on paper up on the wall makes everyone a bit more energised and that's how things happen.”

The Getting Down to Business program is subsidised by the federal government and academy managing director Leigh Rachow said this was the last one available, with the subsidy now suspended.

“The focus of this program is to develop the skills of the participants through interactive workshops and one-on-one mentoring, with the objective being that by the end of the 10-month program, they will be able to manage and improve their business through better financial management practices,” she said.

“We have completed two individual 10-month programs and have had unbelievable success. We have seen these businesses grow and develop into stronger and more viable businesses, working their way through the recession with effective planning and management practices.

“The number one challenge in business today is profitability, and the solution for making profit in a business is developing and implementing sound management practices, with a particular focus on financial management.

It is quite normal for a new business to be involved in every level of business activity.

Nicky describes micro managing as one of the hardest areas.

As there are a number of profit streams in the business, it is important to give some thought to setting out clear financial and business objectives – short, medium, and long term.

Nicky needs to consider assessing how effective and efficient her time management is.

Map out an average working week to assess, develop and improve the effective management of core business activities. A responsibility chart is useful in redefining roles and responsibilities (all staff and directors), and helps in determining future requirements.

Assessment of company resources can be helpful in identifying how efficiently they are being allocated to business activities.

Revisit the current business plan and compare budgets with actual performance – identify gaps which need to be addressed in the current year.

The Collins English Dictionary defines mentor as a “wise, trusted advisor, a guide”.

Nearly everybody has someone they turn to in times of need for that little fillip to help them through life’s journey. So too, in business can a mentor provide some well-founded advice to overcome an obstacle, solve a problem or encourage a move to the next level.

Unfortunately many small business operators are unaware of the benefits of engaging a mentor to help them achieve maximum business potential.

Being proactive is the key, be it for a beginning business, developing business or an established business that may be encountering problems or just someone who isn’t sure how to take the next step.

Make the decision to act early rather than late as it is easier to maintain than fix. Once engaged, a business mentor is able to develop, with assistance and cooperation from the business operator, tailored solutions and programs.

First step is a business health check.

Areas of concern, issues or problems are identified and prioritised for rectification or improvement. As the business operator you are given practical advice that works for your business, you will increase your knowledge and skill base and feel more confident by the encouragement and professional support.

Business mentors’ suggestions and ideas are bias-free, non-emotional and impartially made with complete integrity based on their broad industry experience. This experience is too valuable not to be accessed. Mentors bring clarity to business issues and provide more efficient ways to achieve goals and objectives. They provide options and strategies to plan and implement improved business practice.

Two case studies illustrate this point.

One involves improving marketing resources. This business already operated a six-figure marketing budget. Research covering the previous three years showed 30% to be ineffective. This money was redirected to more effective successful marketing strategies.

Not a bad result for a few hours with a business mentor.

In the second case study, the business wanted a more in-depth understanding of the financials. A range of spreadsheets covering direct and indirect costs, break-even calculations and profit tables was examined. Better financial decisions were then made based on this examination with immediate and effective benefits.

Sometimes business operators think it is a sign of weakness or failure to access a mentor. Two examples from quite diverse fields demonstrate this is not so.

Businesses do face many challenges and a business mentor can be a vital part on the road to success. Shop around, choose one for you. There are a number of State and Federal programs available to help business operators working in conjunction with business mentors advance their business development.