Business mentoring: Why it's important
Mentoring can help improve productivity, build better business
relationships and help to retain staff. It's a useful tool to turn
to as your business grows, as you can benefit from the advice of
someone who has been there and done it before. Read our guide to
find out how mentoring can benefit your business.
- Why choose mentoring
- Where to find mentors
- How to make it work
Why choose mentoring
However good your idea, there is no substitute for experience. A
mentor can offer a good level of support and act as a sounding
board, providing advice and guidance to help you overcome
challenges as your business grows. Mentors can help you identify
your strengths and weaknesses and can also provide you with some
useful contacts when it comes to raising finance or finding
suppliers, for example.
- Mentors can act as role models
- Relationships are often on an informal basis and can also
provide you with useful contacts
Where to find mentors
Mentors can be a vital part of your business growth but it can
be hard to find the right one for your business. Identify the key
issues you want help with and look for people who have faced
similar challenges and overcome them. Chances are they might say no
to being your mentor, but ask them if they can recommend anyone
else. One of the best places to find mentors is through business or
trade organisations or by asking others in your peer group for any
recommendations.
- Seek out those people who have experienced similar issues to
the ones facing you
- Don't worry if those you approach say no - ask them to
recommend someone else
How to make it work
It's important to realise that mentors are not consultants -
they are there to help you explore, question and resolve issues
with your business. In order to succeed, a mentoring relationship
needs to be a two-way process - be prepared to put in as much as
you are getting out of it. Mentoring is usually carried out on an
informal basis and is process undergone over a period of time -
it's not a quick-fix solution.
- Mentors are not consultants - they are there to help you
question your decisions and provide guidance
- It's a two-way process - put in as much to a mentoring
relationship as you expect to get out of it
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