What is business mentoring?
Business mentoring is a relationship between you – as an entrepreneur and someone with business experience who is willing to act as a guide. The business mentor offers advice, guidance and support to help you run and improve your business.
It can involve face-to-face meetings or online discussions – or a combination of both – depending on which arrangement is best for both parties.
Your mentor will stay in regular contact with you through meetings, telephone calls and emails. The nature of the relationship may vary from being fairly casual – eg a monthly telephone call or informal visit – to being more formal and structured – eg setting meeting agendas and business objectives. Some mentoring services are free and others are paid for or available by subscription to an organisation. Whatever works for you!
Business mentoring and other types of advice
Using a business mentor is one way of helping you make the right decisions for your business, but there are other forms of support you could consider. These include:
- peer mentoring and peer learning alliances
- professional advice
Why business mentoring is important
If you have a gap in your knowledge or experience, then mentoring could work very well for you. For example, you may have a great idea for a business but need a bit of guidance to turn it into a successful venture.
A mentor can provide you with a number of benefits, such as:
- guidance on developing and improving your business
- help with difficult decisions
- ideas for new products or services, or ways of working
- tips for your business that are gained from practical experience
- access to a network of contacts with other people
A business mentor can also help you to:
- develop key business skills
- improve your problem solving abilities
- build confidence
- work on your personal development
However, a business mentor won’t sort out all your problems for you, tell you what to do or offer business advice. They don’t act as consultants or take the place of any existing professional advisers.
Davenports have two highly experienced in-house business mentors who are ready to help you move forward with your business dreams and goals. Give us a call for free today to get started on 0800 0566661