Questions

How do go about finding a mentor to help me take my software company from 6 figures to 7 figures in annual sales?

Someone who has been there and done that in niche market like mine: 3D Agricultural Earthworks Design Software What should I pay them? What skill should I look for?

3answers

This is nit-picky, but I think reframing your question will help you get the result you need.
Having a mentor and figuring out how you will pay them feels like a contradiction since I've never had a mentor that ever asked to be paid for any advice they gave me.
Finding a mentor is a very organic thing in my experience, and definitely worthwhile, but I think the shortest path to getting to a 7 figure revenue rate is to get a consultant that can help you improve your skills and better focus your resources.
You could do this by leveraging them in a group setting, like masterminds, you could retain them monthly, or just about any other format they're open to.
I've got a client right now that is in a very similar spot as you, doing $350k and just needed some guidance to get better focused on what will get them to $1MM. Our arrangement is with a weekly call and he's asked for more help, so we're moving my deliverable work under a profit-sharing agreement.
I'd use Clarity to talk to a lot of different consultant's and see what you find. Just don't jump into an long-term agreements until you know they're a fit and are more interested in your success than their fee.
Practice with me for free if you'd like and I can help you get your questions dialed in better for future calls: https://clarity.fm/joshualong/VIP


Answered 6 years ago

It sounds to me that you are already very successful. You probably are already attending functions and events that prospective mentors are attending. You already are very successful in marketing. You just need to develop those same marketing strategies with the focus of attracting your perfect mentor.
Some suggestions are to:
1) Clearly identify your heros in this space. Clearly articulate the type of mentor and attributes that you are looking forward to working with. For instance: Do a internet search on software companies that have 7 figures in annual sales. Review their directory list and see who is on their board of directors. Start building a relationship with some of those individuals.
2) Go where these heros meet (technical conferences, high-profile catalyst events, promotional events, charity events). Find out which conferences and events that those companies (from your previous internet search) attend and sponsor.
3) Volunteer your services to the organizations or events that those companies attend or sponsor. If you volunteer as a program director or a position that places you in the heart of greeting, meeting and working with these people - you will be able to get some contact information to some distinguished individuals - merely as part of your regular duties.
4) Write a book, article or e-book about the Top 10 companies in the 3D Agricultural Earthworks Design Software or "How to take your company from 6 figures to 7 figures". The goal of this endeavor is to provide you with a mechanism to introduce yourself to these distinguised individuals. In the process of writing the book, you interview these heros. You will not only get a significant insight but a book in the process.
5) Ask your heros to give your book a quote, testimonial or preface. This gives your book some creditbiilty along with building a relationship with your hero.

These are just some 2-fer ways to both accomplish your mentoring goals as well as propelling your toward your 7 figure in annual sales goals.

Let me know if you are interested in some future one-on-one information.


Answered 6 years ago

A mentor is usually not someone you pay....they are usually someone who has a specific skill set or experience you are missing and they can help guide you in your next steps.

I building my business, my mentor had already been through everything that would happen as I got started. She was instrumental in keeping me on track and helping me understand the obstacles. Her support and past experience was invaluable.

Before you start looking for mentor create a list of the skills you need to develop. Knowing that you want to grow sales exponentially, what specifically do you feel is missing for you to make that leap and how will your mentor help you accomplish this?

A few ways to find a mentor include through your local Chamber of Commerce; use your LinkedIn contacts and groups to seek out who has the qualifications you require; a tech accelerator and business networking group may help here too. Sometimes you will find that your mentor may not come from your field of business....it's the experience that you are looking for to help you grow. They will be able to guide you around obstacles, anticipate what could come at you and help you formulate your future steps. This other perspective is helpful in providing insight in new ways to your business.

Please let me know if you would like to discuss mentoring more. I am happy to have a call to bounce other ideas around.


Answered 6 years ago

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