The National Mentor campaign started in 2002 and aims to raise awareness about the need for more Mentors and to encourage more people to actively become mentors.
Mentoring is a timeless practice, and while the format or method of the relationship between mentor and mentee may have shifted, the fundamental goals and advantages remain the same. There’s a great power that can be unleashed when sharing knowledge and skills between those who want and need it most.
Mentorship is all about providing honest feedback by setting up checkpoints and structure, which allows the mentors and mentees to have a relationship that’s productive and beneficial to all involved.
Countless studies have been carried out on the positive effects mentoring can have, from confidence to mental health to promotion likelihood.1.
With such positive effects, why do advisors hesitate to seek out a mentor?
There are some common objections such as “I don’t have the time,” “I don’t need anyone’s help. At least not right now,” or “There aren’t any good mentors available to me.”
You may even be thinking that you should just keep your head down, work hard, and produce results, and that you don’t need to waste your time on these extra relationships.
You might be wrong.
As advisor Grant Webster states, “The learning curve to becoming an adviser is steep, and the skills needed to succeed in this industry are vast and ever-changing. Without formal training programs that exist, young advisers are forced to learn the business through their peers, older advisers.”
Having high expectations of training from your peers will more than likely lead to disappointment. Some people fear that sharing their hard-won secrets with their colleagues will somehow put their own jobs in peril.
Can a mentor shorten your learning curve?
Mentors can provide a wealth of information and knowledge. They see where we need to improve, and they have experiences that you can learn from.
The facts and statistics on mentoring are compelling and showcase the power of a mentorship program.
87% of mentors and mentees feel empowered by their mentoring relationships and have developed greater confidence.2.
84% of CEOs said mentors had helped them avoid costly mistakes. 2.
Being in the financial service industry is not easy because there are many things for you to learn.
So, you must invest in yourself, both time and money. It takes time to learn from your mistakes. It takes money, both in cash outlay and opportunity cost, to grow your business and become better tomorrow.
No one is beyond needing a mentor. If there’s an area that needs improvement, you need a mentor.
Once you have decided to invest in yourself and your business, you can begin to prepare for being an ideal mentee.
Be prepared to be coachable, and be open to suggestions, ideas, and constructive feedback. You need to talk about what’s working and isn’t working and, together with your mentor, figure out the best plan of action.