This is a question posed on Quora and my answer was requested. Here’s my answer…
I am taking this as a question about changing the lives of business owners.
A good mentor or coach can help you focus on the right things to get the greatest return with the least input. People like to talk about “leverage” but seldom understand it or its implications. A good mentor can help with this.
Focusing on the right things helps to free up your time and get better results. More time, or rather more productive efforts and less unfocused, scattered effort, decreases stress and improves quality of life.
Better results means improved cash flow, greater profit, a more harmonious team, and a better understanding of your own role in your business.
Selecting the right mentor is huge and something that should be given considerable thought, time, and focus. Don’t settle for whoever is willing. Focus on your own goals first and what you hope to get out of the relationship. And then decide what you can contribute to it.
When selecting a mentor or coach, understand that most people will offer advice along the lines of whatever worked for them. But your context is not the same. Even if your business is in the same industry or offering the same product or service, it is critical to appreciate that your context is different. You are different. Your timing is different. Technology is likely different. Perhaps your location, culture, generations, etc. are also different. Seek someone who will help you on your path and within your context, not just tell you what they did whenever they did it.
My background as a Physical Therapist is a great analogy and way to think about this. Diagnosing and creating a plan of care to get a patient to their goals requires the training and expertise to do those things effectively and adapt to the patient’s context. The same is true for you and your business. Do you want to take another patient’s advice or consult with the expert who has helped dozens or hundreds of “patients” with the same thing, customizing the plan of care to the patient’s goals and current situation and context?
I’m here if you want help.