A widespread notion for businesses is that to generate more profit, you would have to decrease your costs so that a more substantial portion of your revenues get retained in the bottom line. It is why a lot of businesses do cost-cutting measures such as reducing inventory, shifting to cheaper materials for production, or hiring fewer sales personnel.
Being an entrepreneur is never an easy task. With the amount of patience, hard work, and dedication needed, we can say that entrepreneurship is not for everyone. Statistics say that for every one hundred people who try business, only one makes it to the success finish line.
Mentorship is probably one the best ways to grow as a business professional. However, not a lot of people realize the potential benefits of having a mentor in your life. Hence, a lot of people do not make concerted efforts to find one. They think that they can make do without mentors, and while it is indeed possible to succeed in the business world without relying on a mentor, it is unnecessarily complicated.