Considering the statistics that suggest businesses are 88% more productive with the support of a mentor, it begs the question why not every business works with one.

The psychology around hiring a mentor is complex.

Common characteristics amongst entrepreneurs are, independence, single mindedness, problem solvers and self belief. All of which go against the willingness to ask for help.

But then 50% of businesses fail in the first 5 years and only 40% of business put up for sell, will find a buyer, the rest are dissolved. This seems such a waste of time, creativity and money.

So when should an entrepreneur hire a mentor?
The decision process on whether/when to get help consists of answering 2 simple questions.

How successful do you want to be?
What are the consequences if you fail?

Let's take some examples.
Would you hire someone to show you how to dance?
Assuming the occasion is your wedding day, here are likely answers to each question:

Q1 Answer: I don’t really care how well I dance

Q2 Answer: If I fail, it could make for a funny wedding video.

So the answer is no.

Now different assumption: you want to impress someone you are attracted to.

Q1: Yes it would be good but I could impress that person other ways

Q2: Failing is not really a big deal, if the person has a sense of humor
One last assumption

Now let's say you want to go skydiving

Q1: it's just for fun , you are not planning to be a professional.

Q2: if you get it wrong, it is fairly fatal….


So ask yourself the 2 questions and make the right decision for yourself.

Did this blog help you? If it did, please share it with your business connections.

If you have any questions contact Helene HERE

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