Entrepreneurs: Here’s Why You Need A Mentor

Entrepreneurs: Here’s Why You Need A Mentor

There are many distinguishing benefits of mentors, even for entrepreneurs, and it’s important to value their significance if you plan to achieve long-term success. 

Mentors. They’ve been there, done that and have seen it all. Many bear the scars of wars fought, won, and lost.  

They’ve recovered from various disappointments, unwanted lawsuits, failed partnerships, accountants that lack detail, and inexperienced lawyers.  

Many have also unsuccessfully tried to independently balance business and family.  

  • Why seek such a person?  
  • Why should you take their advice?  
  • Why listen to their story?  

Another’s setback can be your step up in life.  A mentor can facilitate a much smoother, more productive path as opposed to the battled test one.  

Many owners of Residential Assisted Living homes have struggled and failed because of the absence of a mentor.  

Families have suffered, some unbeknownst to the fact that their RAL homeowners failed to secure the support needed to operate their home efficiently and effectively.  

Why? No training or no mentor.   

It behooves entrepreneurs to seek reliable mentorship if serving families in need, especially if doing good is a passion for entering this life-changing industry.

In an age where instant gratification is glorified, it’s unsurprising that many entrepreneurs and young founders do not seek out a mentor.

Mentorship is an age old concept.  It is the kind of relationship that is irreplaceable and invaluable.  

Throughout history, mentorship was not only regarded as an option, but a mandate.  Mentorship was a necessary stepping stone into adulthood and leadership of all sorts.

Even those desiring to serve as the head of a family needed a mentor. However, today, many seem to think they can just “google it,” and become an expert.  

This is not the case – google provides information, not experience and relationship. 

While arguments abound on why entrepreneurs do not need mentors, most successful tech titans have founders who had mentors. 

Facebook’s Mark Zuckerberg was mentored by Steve Jobs. Jobs was mentored by Mike Markkula, an early investor and executive at Apple.

Eric Schmidt mentored Larry Page and Sergey Brin of Google.  

RAL owners are no different – you are trudging in a new concept revolutionizing an old industry.  

Many startup entrepreneurs didn’t start with a mentor and unfortunately the same is true for RAL homeowners.  RAL homeowners without a mentor often fall into the following trap.

10 RISKS ASSOCIATED WITH STARTING A RAL BUSINESS WITHOUT A MENTOR

  1. Start in this industry oblivious to the many unwritten rules
  2. Secure and fund the wrong property
  3. Hire the wrong contractor
  4. Oversee the construction/renovation/build-out of the home
  5. Hire another contractor to fix what the prior contractor could not
  6. Fail inspection after inspection due to specific state specifications 
  7. Hire what appears to be a great staff only to discover they are less than qualified and you lack the knowledge to properly train them
  8. Struggle to get their homes fully occupied because of poor marketing
  9. Suffer the unnecessary losses of money and time 
  10. Fail to reap the benefits of owning a successful business

And the list goes on and on.  

What is encouraging about the above list is that it is totally preventable.  How so?  Clarity is optimal here.  Get a mentor.  

Securing a mentor in the RAL industry is not as difficult as you might think.  In actuality, the Residential Assisted Living Academy was continued to support the growth, development, and overall well-being of RAL homeowners.

These resources and professional tips also ensure that residents will have the opportunity to safely reside in quality care homes.  

The Residential Assisted Living Academy seeks to educate owners of RALs to fuel the industry so that it can flourish.  

Have you heard?  Did you not get the memo?  

Baby boomers are starting to occupy RAL homes, and they want senior living on their own terms.  Get ready for this Silver Tsunami by getting connected with a mentor in the industry.

Preparation is key and sustainability a must.  

You will not sustain in this rapidly growing industry without this ancient concept of mentorship. You need a trusted voice of reason, accountability and support.

7 REASONS WHY SECURING A MENTOR IS OPTIMAL

  1. Building A Business Beyond Reading Books

When seeking a career in business, it’s important to know that not every lesson can be learned from a book.

While books can provide a foundation of vast business knowledge, firsthand stories about business experiences often give deeper insight.  It allows you the kind of relationship to be able to ask questions and gain added insight. Mentorship is about vulnerability.  Why?  Mentorship is a relationship not a retail book transaction. 

Once mentors warm up to their mentees, they begin to share those intimate details that really dictate whether one is successful or not.  They open up about the pain of life struggles, like divorce, wayward children, angry staff, the first time they had to terminate an employee and the list goes on.  Books do not provide what the right mentor relationship can.

2.     Humility Helps Increase Outcomes

Listening to a mentor increases the chances of success because it gives the entrepreneur the inside story.  CEOs, COOs, CFOs, founders of multimillion-dollar companies have all been mentored and continued to be mentored.  What’s the difference between them and you – truthfully? Perhaps that answer is summed up with one word, humility. The burden of leading organizations, having the responsibility for so many families while maintaining a viable brand in a crowded marketplace can only be forged with the right support.  Many leaders have more than one mentor.  It depends on your personal and professional needs.  However, what must be recognized is the need for humility to reach out and ask for help.  No man is an island. The Residential Assisted Living Academy offers the RAL homeowner quality training and mentorship opportunities that are unparalleled in this industry.  

3.     Networking Beyond Your Limited Contacts

Experienced mentors usually possess a wealth of valuable contacts. That means the mentor has access to contacts that can be shared to build a powerful network. Investors have a tendency to put the most trust in companies recommended by friends.  Word of mouth remains the most reliable form of sales because of the trust factor.  In the RAL industry, nothing is more true.  Many students of the Residential Assisted Living Academy were recommended to attend by friends in the industry.  Their stories are powerful and the vast expansion of their networks – impressive.  The value of networking can only be expressed by the very people who have benefited most from it. Their testimonies far outweigh any written prose. Some networks are only available or made available to those who are mentored and adhere to the advice of their mentor.  When trust is fostered, your mentor will open up the floodgates of their network.  

4.     Expert Feedback Is Invaluable 

Working directly with a mentor provides useful perks. You’ll be able to secure answers to direct questions and have conversations that create clarity. Direct feedback often leads to learning details that might not be known otherwise. Owning and operating a RAL home requires one to have this type of access to timely advice and feedback.  It will prevent mishaps and even catastrophes.  Owning and operating a RAL home is a dynamic enterprise. As a result, two sets of eyes on an issue are far better than one – expert feedback is invaluable.  The inexperienced RAL homeowner can operate with confidence because behind every decision is experience.  

5.     Business Longevity Starts with Lifelong Mentorships

Sticking with the same mentor for long periods of time fosters longevity. Surprising? No.  The best entrepreneurs in the world sustain lifelong mentorship relationships.  It makes the difference, holistically. A mentor contributes to resilience by providing guidance that generates responsibility and goals. Navigating the complicated waters of the residential assisted living industry makes resilience a necessity.  So, where can you find a mentor?  Relax, you are already in the right place.  The Residential Assisted Living Academy carefully fosters these relationships so that your RAL home will flourish.  

6.     Learning How to Control Your Emotional

Emotional intelligence, also known as emotional quotient, is about controlling emotions, which is crucial to business success. Mentors can give tips on how to resolve heated conflicts with employees or customers.  Let’s face it, RAL homeowners face so many obstacles that your emotional health is compromised.  However, it needn’t be.  With the assistance of a mentor, you will be properly guided as to what is:

  • a real problem
  • a artificial problem
  • a situation requiring immediate attention
  • a situation that will resolve itself

Does maturity bring about a higher EQ in entrepreneurs? Yes.  How will you get there?  How will you become a RAL homeowner with a high emotional quotient?  Align yourself with the Residential Assisted Living Academy today.  The quality of your business experiences will depend on the quality of the training and mentorship you receive.  

7.     Motivation, Inspiration and Encouragement

Depression, frustration, and failure do not take root when mentorship is in place.  The encouragement received from a mentor will create such strength and confidence in the RAL homeowner that facing obstacles will become an acceptable task.  Expect obstacles, relish the challenge presented by them, and face them with confidence.  

Building and operating a RAL home takes a significant amount of fortitude, but it is so achievable.  Why? You do not build or operate alone.  A mentor can walk with you each step of the way.  Sometimes the mentor will walk in front of you, showing you where the pitfalls and potholes exist.  Other times, the mentor will walk beside you, so that you can see the lay of the land and learn how to read the terrain.  Yet, there are instances where your mentor will walk behind you, allowing you to lead based on the training and development you’ve been given.

RAL ACADEMY IS A GREAT PLACE TO START 

Whether you have already begun in the residential assisted living industry or you are researching the opportunity, you don’t have to go it alone.  

The Residential Assisted Living Academy is a great place to start. 

Reach out to us today

Time is of the essence and your professional and personal success is directly connected to the mentorship offered by Gene Guarino and other experts at the RAL Academy.