How engaging a business mentor can help your business

Research in both educational settings and in the world of business indicates that students, employees, and CEOs are more likely to succeed if they had a mentor. Fortune 500 CEOs were asked what contributed most to their success. Many listed an effective mentor as one of the key factors. As a result, more and more entrepreneurs and business owners are following the lead of their corporate counterparts by engaging the services of professional business mentors.

Mentoring is most often defined as a professional relationship in which a more experienced person, referred to as the mentor, assists another person less experienced, referred to as the mentee, in developing specific skills and knowledge that will enhance the less experienced person's professional and personal growth. Successful mentoring does not just happen; it is the result of careful planning and implementation.

Working with your own personal business mentor can have a tremendous positive impact on your business. Whether you are an established company or just starting up, your business mentor can teach you how to increase your confidence, develop vital business skills, and implement effective strategies to transition your business to the next level.

Even if you consider yourself to be an expert in your field, a recognisable knowledge or experience gap may still exist or be present. You may have a great idea for a new business, but you feel like you need to verify the feasibility of your new venture or to confirm the strategies that you are considering using. Seeking the guidance of an experienced business mentor who has had similar experiences is the best way to get your question answered with valuable professional advice.

What does a professional business mentor do?

Your personal business mentor serves as a trusted counsellor, a guide, a source of information, a provider of perspective, and the voice of experience in addition to performing a number of different functions:

  • Teaching you about specific business practices and functions.
  • Coaching you on specific business skills.
  • Facilitating your growth by providing resources and contacts.
  • Challenging you to move beyond your comfort zone.
  • Creating accountability for agree actions 
  • Creating a safe learning environment for expanding your horizons.
  • Focusing on your total development, both professional and personal. 
  • What benefits will you realise from working with a professional business mentor
  • You will gain from your business mentor's expertise.
  • You will receive critical feedback in key skill and knowledge areas.
  • You will develop a sharper focus on what steps are needed to develop professionally.
  • You will learn specific skills and knowledge that are relevant to your personal goals.
  • You will gain knowledge about business tactics that are critical for success.
  • You will adapt more quickly to changes in the marketplace.
  • You will have a 'friendly ear' to share your frustrations, as well as, successes.

Professional business mentors are a valuable asset to any business organisation.

When you struggle all alone in your business, it can lead to costly and demoralising mistakes. Having an experienced business mentor spares you the trouble of having to crack the business success code on your own. A seasoned, professional business mentor is the perfect person to offer help and advice, especially if you are just starting out or facing difficult challenges. An experienced business mentor has been there and done that! They will know what works and what doesn't work.

By tapping into the wealth of knowledge and experience of a business mentor, you can fast-track your business success by minimising the mistakes most entrepreneurs make. Why try to re-invent the proverbial wheel, when you can engage the services of a seasoned, professional business mentor to help you navigate the minefields associated with growing your business.

Don't be trapped into thinking you don't need a business mentor simply because you think know your business. Just like sport, running a business is highly competitive. So, if top athletes employ coaches/mentors, then it makes perfect sense to follow in the footsteps of these top athletes and employ your very own business mentor!

Just like a good sports coach, the right professional business mentor will not play the game for you. They will simply assist you in determining the most effectively strategies in order to maximise your rewards and minimise your risks!

To discuss engaging Michael Day MBA FRICS FNAEA FARLA as your business mentor:
 email msd@integra-ps.com or phone 01753 889287 or 07717 295369 for a confidential discussion.