When setting up or developing a business, a support network is crucial. Whether it is family or friends raising money or your careers advisor giving out advice, the power of this cannot be underestimated. Having watched my mum build her business up "from scratch" (pardon the pun, since it is a cake business) from kitchen table to business unit, I was inspired to do the same. The guidance that she received when starting out was awesome.
At the start, a lot of what she knew about the cake business was simply what she did in the kitchen, but turning that into a viable, long-term business was a whole new thing. It was quite hard at first. There was the business plan to write in order to get funding; there were finances to go through and collate; there was getting the word out there about the business (fortunately, word of mouth was already working in our favour and we had a client base pretty much ready to go). It seemed overwhelming at the time. However, we were able to take advantage of some expertise and support from an organisation called Business Link (www.businesslink.gov.uk) who gave us an awesome Account Manager and mentor to see us through the whole process. Although we are still learning, it was great to have her in the background rooting for us as well as keeping us on the right track. THAT is the power of good mentoring.
This article will deal with this area and show the importance of mentoring in building and maintaining a business. Before I start, I know that there are different kinds of mentorships out there (for employees, for peers etc), but the main focus of this article will be the role that mentoring plays in small and new businesses. I will change tack a little with this article and adopt a question-and-answer style:
What is a business mentor?
This is a person who has the experience of successfully setting up and running a business. They can offer invaluable advice, support and guidance to a new entrepreneur. They will have experienced some of the highs and lows faced when starting a new business. It is important to develop your relationship with your mentor by meeting and communicating regularly. This will help boost your confidence and thus your business.
What is the mentor’s role exactly?
They are there to provide support, identify strengths and weaknesses and help you deal with them. They can also help you with training and provide contacts for you (or at least a way of increasing the amount of contacts that you have) so that your business grows the way that it should.
What is the difference between coaching and mentoring? Aren’t they the same?
Although the two terms are used interchangeably, they are different. Coaching helps to develop someone’s skills or knowledge in a certain area which then leads to a specific objective being achieved. Mentoring is when more long-term guidance, enabling someone who is less experienced to develop and grow in their chosen role.
Ok let me make it easier. Coaching is:
-More proactive
-Usually short term (but this differs)
-Is concerned with reaching and fulfilling an objective
-Very specific
Mentoring is:
-A more long-term relationship
-Concerned with the development of the person being mentored so personal stuff is also discussed
-More informal
-Reactive as well as proactive
What kind of skills are needed to be a mentor?
Good communication skills are a must - you have two ears and one mouth for a reason. A mentor should be prepared to listen and offer advice that will build up the person being mentored.
Social and interpersonal skills - A mentor needs to know how to relate to the person being mentored. Sensitivity, tact, patience and a good sense of humour are needed as well as the ability to develop and maintain social networks.
Some degree of acumen and experience - if you are going to advise someone, you need to have some knowledge of what is being talked about.
Do mentors need some sort of training?
There are some courses that are designed specifically for people who wish to become mentors - either in a general sense or to deal with a specific area. Moreover there is training available for those who wish to improve the specific skills needed in mentoring.
So how does this work? How is the relationship developed between mentor and mentee?
They can begin informally and then develop into something more structured; or it could work better the other way around. What is does need is consistent and regular contact - whether it is in a meeting room or Starbucks. It depends on the mentee and what they need. The mentor will not get involved in the daily activities of the business. But they will stay in contact with the new business owner, and make themselves available when questions arise. At the start, the person being mentored may need more frequent meetings, but as the mentee grows in confidence, they will need less contact with the mentor.
Are there different types of mentoring?
Yep, there sure are. The main ones are as follows:
-One to one mentoring
-Group mentoring
-Online mentoring (oh yes, it does exist)
Most business mentoring is done one to one.
Are there times that it does not work out? What can you do when this happens?
Yes. Human beings aren’t perfect so sometimes, even the best of intentions will not save a mentor-mentee relationship. There may be a clash of personalities, lack of commitment on either side or frustration on goals not being achieved. Systems should be in place should this happen, especially in a formal setting. Monitoring and evaluation processes should minimise the fallout from any–er, fallout. If possible, the mentor and mentee should be encouraged to try and iron out any differences and talk through any issues.
I am looking to start a new business and thinking about getting a mentor. What are the benefits?
In addition to their extensive range of contacts which you can take advantage of, they can help in a number of different ways, too. If you have a difficult decision to make, they will be on hand to guide you step by step through the decision-making process. They will have new ideas and ways of doing things which could help improve the business, saving you money, increasing your profits and making the best use of your investments in the long run.
So there you have it: mentoring is a key part of entrepreneurship and should be encouraged. I would like to know about people’s experiences, either being mentored (in whatever circumstance, not just business) or being a mentor. I hope all of you budding businessmen out there find this useful.
I hope that this helps you. Take care. God bless and all the best for your venture . . . .
