Sunday 24 June 2018

5 Reasons Why You Need a Business Mentor

By QVM Trader Connect Program Manager, Katya Ellis

With all the buzz about business mentoring in the media and on televisionin shows like The Mentor and Shark Tank, one could be forgiven for thinking that having a business mentor on your team is the latest “trend” in business.

Truth is, as long as business has existed, the most successful owners have made sure they had enough people “in-the-know” in their network and/or respected confidants to help them set goals, strategies and actions to guide the business to success.

With small business (i.e. the 85% businesses with turnovers under $2million) being the major contributor to the Australian economy, it is easy to understand why organisations like the Small Business Mentoring Service (SBMS) were formed to find and match business owners with people who have hands-on business experience and who are willing to share their experience, successes and failures with business owners savvy enough to take advantage of the intelligence of others.

Here’s our TOP 5 reasons why a business mentor could help improve YOUR business.

1.You don’t know what you don’t know

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

No matter how long you have been in business, assuming you know everything there is to know is… well… not wise. There is no denying that someone with solid business acumen can provide value for any business, at the very least by:
·        Providing a bouncing board for ideas and strategies
·        Validating your ideas
·        Broaden your perspective for ideas and opportunities you may have not considered
·        Being an accountability partner that’s helps you focus on working ON your business and less IN your business.

2. All successful people have mentors

“Show me a successful individual and I’ll show you someone who had real positive influences in his or her life. I don’t care what you do for a living—if you do it well I’m sure there was someone cheering you on or showing the way. A mentor.” — Denzel Washington

Countless successful people have stated that one of the keys to their success was having a good mentor. Part of the challenge is finding the right person with the right experience willing to help you. This is where SBMS can help. With over 170 mentors and 30 years in operation, finding the right mentor(s) is made easy.

3. Big business thinking

“Start small, think big. Don’t worry about too many things at once. Take a handful of simple things to begin with, and then progress to more complex ones. Think about not just tomorrow, but the future. Put a ding in the universe.” – Steve Jobs

Large organisations engage experts and consultants to help them make wise strategic business decisions. Sadly, the vast majority of small business owners feel they have to battle it out on their own, possibly with the input of a spouse, or occasional visit to an accountant. SBMS mentors are here to inspire all market traders
to think like “big” businesses, and get the right people on their team.

4. It’s all about you

“What I think the mentor gets is the great satisfaction of helping somebody along, helping somebody take advantage of an opportunity that maybe he or she did not have.” — Clint Eastwood

Business mentors LOVE helping business owners, and there is no denying the value of one-on-one consultation with an experienced person who wants to help you with exactly what you need, even if you don’t know what that is yet. Courses are great to up-skill yourself and fill in any knowledge gaps but engaging a mentor for a one-on-one session is worth its weight in gold.

5. Light at the end of the tunnel

“A mentor is someone who sees more talent and ability within you, than you see in yourself, and helps bring it out of you.” — Bob Proctor

Business is TOUGH! The to-do list is endless. The should-do list is even longer. Financial challenges can be crippling, and even if finances are not an issue for you, every business has hurdles that can be overwhelming! Business mentors can help separate the urgent from the important, get you focused and keep you accountable. Nothing is more satisfying to a mentor than seeing a client walk (or fly) away from the meeting elevated, motivated, and inspired.

Business mentors don’t have the silver bullet to fix all the problems in your business, but they sure can help you define the strategies to help your business be the best it can be.

Points to remember:
-You can see one, or multiple mentors with different specialities.
-Totally confidential and independent (think doctor/patient type relationship)
-Help with ANYTHING in your business – marketing, finance, digital, merchandising, business strategies, branding, growth, succession planning, accounting, time management, human resources, staff training, pricing, inventory management, the list goes on.
-We are not here to tell you how to run your business, just help you work through whatever is on your mind

For Queen Victoria Market Traders booking an SBMS mentor is FREE!
That’s right FREE! Each booking is valued at $400, but it’s FREE for you!

How to book:
Email Katya on or call 1300 631 171

And if you are a little tech savvy and want to review the short-list of QVM ready mentors and book in your free sessions, proceed as follows:

1: Visit
2: Click on "I want to book with a voucher"
3: Enter voucher code "QVM" and click "Book with this voucher"
4: View mentor profiles and click "Book with Me"
5. Create a new account by completing the form.
6. Your mentor will contact you to arrange a suitable time