When it comes to mentoring, whatever you pay us in time to grow your business faster, the minimum return on investment should be at least double!
So in other words, a 100% Return on Investment – ROI.
For me as a mentor, that is always my minimum goal for a client.
A typical client pays between £1200 – £3000 over a 6 month period, and in the first initial session (which comes with a money back guarantee) I am always looking at the goals of their businesses and current challenges they are having…
In my mind, if I can’t help them generate an extra £3000 – £6000 in that set time frame, then I’m not the mentor for them.
I’ve always harped on that this strategy is REAL Mentoring, but on reflection, and with all the new additions to the Rockstar services in the last couple of years, that message needed to be reenforced!
Fortunately, we usually do a hell of a lot better than £6k, but it’s the principle of a measurable ROI!
Which then got me thinking of the many other service companies I had on my invoice list who, as I’m sure you have all experienced too, are happy to send invoices but at times it can be difficult to be able to measure what they have done for your business.
So whilst you probably know this already… here is just a polite reminder while 2014 is still young and you can make the changes…. Look at all of your creditors, from the service providers, make sure they are generating a measurable return on the money you are paying them… If not, look for a replacement!
The same can be said for your mentor – click here to read about how I recently shared my thoughts on this for Premierline Business Insurance.
To your success!
If you want a deeper understanding about how Jonathan thinks and works, or you would like to get in touch with him, feel free to do so here.