Australian News


  • Written by Marife Boiser

Business mentors create the best business leaders. According to a survey of lucrative start-ups, 93% of prosperous business owners attribute their success to having a mentor guide them through their early years, and often even to the present. Indeed, mentoring is critical to advance in any industry. It is so much more useful than reading a book on becoming successful in business or doing internet research.

Who are business mentors?

Business mentors are more experienced entrepreneurs who are best able to guide you in running your business. They are different from consultants, who look only at certain aspects of your business. You may meet them at conferences and other networking events that you should be attending; they are often keynote speakers and are well respected by your peers.

They can also be an associate whose work and opinions you admire. Essentially, you will learn much from having a business mentor from Cherry Black, as they will share with you invaluable information on how to run your business and see you through to the return of your investments. 


The Significance of Business Mentors

Business mentors are significant because they can make your job easier through knowledge sharing. Ultimately, they could help you grow into a formidable business person. Here are several reasons why they’re important:


You learn from their experience.

Mentors will listen to your work issues and share with you similar experiences and what they did to solve them. Listening to your mentor's experiences helps you get a better perspective on how to run your business.

It will also teach you how to work with the level of difficulty you are facing. From learning through your mentor's experience, you can adjust your expectations or plan of action.

They help improve your business skills. 

Mentors are either experts in trade, finance, and accounting. At the very least, they know how a business works. They would be able to tell you what your weak points are and make suggestions for improvement. They can also share best practices and strategies that worked for them in the past.


They widen your network. 

As you work in the same industry, mentors can introduce you to numerous people who will be beneficial to your business. For example, they can identify reliable suppliers, open doors to investors, and teach you how to talk to Cathy, who processes your business permits.

They help you gain confidence. 

If you are unsure about your business decisions, mentors will advise the best course to take and give a lot of encouragement. As you feel you have a trustworthy guide to rely on, you become more confident about running your business and realise that you can make firm decisions on your own.


Finding a mentor who will give you sage advice and help you become a better business person is advantageous. Once you gain a business mentor, you’re poised to have a fruitful and mutually-beneficial relationship. In time, as you grow and acquire a wealth of experience in business, you will have mentees of your own.

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