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Traction Inc.

23 Jul Five Reasons Why Your Startup Needs a Business Mentor

Posted at 08:00:00 by Chris Hallberg

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Whether you’re starting a new business from scratch or taking the reins of an already-existing company, you’ll want to make your mark as a successful new owner/operator. That’s why, even if you have years of experience in your chosen industry, it’s essential for you to find a top-notch business mentor.

Characteristics of a Good Mentor

A good business mentor is someone who has been there, done that, and banked the profits; all while retaining a clear understanding of what works and what doesn’t. The best mentors are the ones who have learned by doing, and are now passing on their wisdom to you. Because they’ve done it before, they have the expertise to help you navigate the pitfalls and negotiate the challenges; but, since it’s not their business, they’re also objective enough to observe what you’re doing from a potential customer’s viewpoint.

Five Benefits of Having a Mentor

  • Having a mentor saves time, energy and money. A good mentor can prevent you from making common-yet-costly mistakes that other entrepreneurs too-often make.
  • A mentor gives you an objective point of view. Two heads are usually better than one; especially if one of the heads doesn’t have a vested, personal interest that can cloud vision or impair judgment.
  • An expert mentor can bring more networking prospects and clients to the table. If impressed enough by your business acumen, your mentor might decide to recommend past clients to your new company.
  • Mentors and small business coaches know all the secrets of the industry, from putting together a successful team to marketing and networking.
  • A good mentor can look farther ahead, through the eyes of experience — and by doing so, ward off potential problems before they happen.

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The Entrepreneurial Operating System®: All The Benefits of a Private Mentor

The Entrepreneurial Operating System® (or EOS®) is a proprietary business system offering a comprehensive set of small business coaching tools. These tools emphasize three key components:

Vision: Ensuring everyone, from management to staff, has the same vision for your company

Health: Maintaining a healthy, united leadership team

Traction: Implementing training techniques to help staff and management become more accountable and responsible

In addition, the EOS Model™ can enable your company to fine-tune these six essential management components:

Vision: The concept of a shared, mutual vision for your company

Data: The ability to accurately track measurables toward successful results

Process: Creating and maintaining standardized operational methods and protocols

Traction: Keeping the company on track with shared accountability and responsibility

Issues: Managing day-to-day issues and clearing obstacles

People: Putting together the best team for every project

By focusing on these key components, the EOS® system can provide help in every aspect of your business, from putting together staff and management teams to maintaining day-to-day operations.

One-on-One Coaching, the EOS® Way

Thanks to its fully-trained staff of experienced business professionals, the EOS® system offers you all the benefits of a small business coaching and consulting firm, which you can access at your own convenience, according to your own schedule. As an EOS® client, you’ll be able to participate in one-on-one coaching sessions offering customized help that’s tailored to your specific business needs. Likewise, every coaching session can help you build within your management team the confidence, respect and accountability that leads to success.

Download the Introduction to The Business Sergeant’s Field Manual 

Taking the First Step Toward Professional Mentorship

If you’re ready for professional mentoring that can put you on the path to profitability, then it's time to take the next step: A free, 90-minute consultation to find out how the Entrepreneurial Operating System® can give you the leadership tools you need to increase business and boost revenues.

In the end, mentoring is all about finding and getting the help you need, from experienced professionals who know the market and industry from the inside out. With the Entrepreneurial Operating System®, you’ll not only get the help you need; you’ll also learn how to maximize it to grow your company — and your profits. 

Topics: Business Advice, eos mentor