eCentral Business Show©

Valuable insights from business experts.


Where do I find a mentor and where can I loan some money?

Wed 10:00am 22 Apr 2020
In today's episode of Business 101, I discuss the benefits of mentoring and loans. A mentor is an excellent idea for anyone who is seeking to improve themselves in some way, though they require commitment. Similarly, a loan will only be of use to someone who has committed themselves to proving they are capable of spending money wisely.

A mentorship requires commitment, which is commonly expressed as action. You need to be ready to either put money on the table or change what you are doing, since your current behaviour clearly isn't working if you're seeking a mentor. Personally, I have been let go by a mentor for failing to commit to their advice, and I still respect that decision today. If you are seeking a mentor, you must be ready to express your commitment by following through.

When you're seeking a loan, banks will be more comfortable lending to someone who has a demonstrated history of making money. You need to show you either have the collateral or the capacity to pay back the bank when the loan's term is completed. Proving this is simple: you only need to display a pattern of investment or saving, proving you are spending less than you earn. When you do, you also prove to any potential mentor that your business has merit and the capacity to be successful under the correct direction, which may be enough to show your commitment. As such, a history of wealth generation is an integral step to convince banks to fund your business or venture.

To get in touch with me about your business, visit eCentral.com.au, contact me on Facebook (John Nayler), or text me on 0407 15 13 11.

Meet our resident experts

Robert King

Robert King

Accountant

Robert is a fully qualified Chartered Accountant, Registered Tax Agent & Xero Guru. He spends his time helping clients through all stages of the business cycle from setting up a business through to its eventual sale.

Laura Sillano

Laura Sillano

Mortgage Lending

Laura is a Residential Mortgage Broker with over 11 years experience. She is passionate about educating her clients about their options, and provides mortgage lending advice that is grounded by life experience.

Helen Baker

Helen Baker

Financial Planning

Helen Baker, founder of On Your Own Two Feet, is an experienced financial adviser and firmly believes in the benefits of having a strong team of professionals to underpin your financial foundations.



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Testimonials

What business leaders say about eCentral

"... consistently impressed with quality software"

... continuously and consistently impressed with quality software systems, web site design and now digital marketing. Key to the success in the past two years eCentral assisted us with their reputation management service that has positioned us as one of the most highly rated and recognised conveyancing practises in Queensland.

John Horrocks
River City Conveyancing

... placed us in an enviable position...

eCentral's involvement with Cumberland Charter Yachts since 1998 has always resulted in quality results, return on investment and systems supporting the business and operational processes. eCentral's engagement consistently operated with integrity and close adherence to our operational and business goals. The web site, software and supporting marketing advice has placed us in an enviable position in the view of market contemporaries.

Charlie Preen
Cumberland Charter Yachts

Great product, great service within great time

The eCentral team were clear and precise with executing my website, branding and marketing needs. They were on time, on price and fit perfectly the vision I set out for. John is a completely professional and emapthic person who I would highly recommend for any business looking to improve their digital marketing and systems.

Andrea
Coffee Service Packaging