Ambitious broker highlights benefits of mentorship

Ms Patterson, who worked for Momentum Wealth for over six years, has recently struck out on her own and is now approximately a month away from launching her own business. She explained to The Adviser that the support of business mentors has been key to gaining an understanding of how to build a successful business.

“I am very fortunate to have a couple of business mentors who I meet with frequently. I can ask any questions about their business and they’re brutally honest,” Ms Patterson told The Adviser.

“We were able to sit down and talk through why I wanted a certain outcome and how I was planning to get there, and they were able to give me advice on why that was not necessarily the right thing to do,” she said.

“I always recommend to everybody: surround yourself with people that have done what you are looking to achieve, because the best way to learn is from someone else’s example.”

For brokers who might be looking to branch out and forge their own path, Ms Patterson provided some advice on how to approach a potential mentor.

“I’d recommend just giving them a call and say ‘I’ve followed your business for a few years and I’m really impressed with what you’re doing. Would it be possible for me to take you for coffee and chat with you about some ideas?’,” Ms Patterson suggested.

“You’ll find that the person will be extremely flattered. I find a lot of business owners are very happy to give back,” she added.

Ms Patterson also highlighted that once a mentor relationship has been established, it is important to ensure that it is mutually beneficial.

“If you can share ideas, you come to the table as equals, and I find that the relationship works better that way,” she said.

[Related: The benefits of mentoring a new broker]