WHY MENTORING MATTERS FOR ENTREPRENEUR SMALL BUSINESS SUCCESS

WHY MENTORING MATTERS FOR ENTREPRENEUR SMALL BUSINESS SUCCESS

WHY MENTORING MATTERS FOR ENTREPRENEUR SMALL BUSINESS SUCCESS 890 532 mentoradmin

“WE STRONGLY BELIEVE THAT THE MOMENT YOU STOP LEARNING, YOU STOP GROWING”

– HARVARD

Where do you turn when you need a personal and professional support network?

1 mentor = 4 support networks
Coach + Trainer + Teacher + Counsellor

Running a successful small business can be lonely if you don’t have a personal and professional support network around you.

Q: What should you look for in a mentor?

A: Seeking out a trusted mentor can be the difference between the success of a ‘good business’ vs. a ‘great business’.

A decision to invest in a mentoring program empowers entrepreneur business owners through deeper self-awareness of individual characteristics, competencies and values that underlie individual approaches to work, leadership, and interaction with others in the workplace. Entrepreneur business owners who recognise the need for learning that comes from different perspectives, create greater opportunities for themselves and their business to succeed.

Q: How do you create greater opportunities?

A: The first step is to understand what opportunities lie ahead when you have a mentor and how to take advantage of them when they arise.

Studies show organisations with strong leadership are 13 times more likely to outperform their competition, and three times more likely to retain their most talented employees (Peter Berry Consulting). For entrepreneur business owners, having a mentor can be vital to ensuring success when in the critical ‘foundation stage’ of the business. Mentoring is a longer term commitment focussed on developing the mentee holistically, targeting both personal and professional qualities. Whether deciding on a formal or informal mentoring partnership, mentoring has a lasting impact. Entrepreneur business owners looking to create lasting connections with key industry leaders might benefit from a longer term mentoring program where they can gain insights specific to their changing business needs.

Q: As a SME business owner how important is technology when considering a mentor?

A: Very! You want to start with the end in mind. A high-touch mentoring program, powered by a world-class high technology mentoring platform provides real-time analytics, a secure platform to learn and share through topic of interest round tables, a library of resources, shared
insights, messaging, networking and meeting scheduling.

What needs to be considered for a successful mentoring partnership.

1. Agree on Your Purpose
Are you both there for the right reasons? In an informal mentoring program, the purpose may not be as defined as that of a formal coaching program.

Q: Can you clearly articulate why you want to enter into a mentoring partnership?

A: Be sure that you will be able to commit the time, energy and focus required before undertaking the program.

2. Ensure Your Values Align
That’s not to say you shouldn’t engage with people who do not share your values. Opening your mind to different viewpoints is a crucial part of becoming a dynamic entrepreneur business owner. Take the time to have initial conversations with potential mentors you respect and admire. This is often a great way to clarify your needs and ensure shared values.

Q: What should you look for in a Mentor/Mentee relationship?

A: A mentor, willing to share what he/she knows with someone he/she care about. In turn, as a mentee, be prepared to learn what you need from someone you trust.

3. Establish Expectations Early
Draft up a one-page document of what you expect to give and receive from participating in a mentoring program. This can include how you plan to get acquainted; agreeing on the purpose and structure of the program; deciding on your preferred communication style between meetings; agreeing on SMART goals; having a code of conduct and most importantly clarifying
what success looks like in 3-6-9 months time.

Q: How do you ensure a valuable experience for both the mentor and the
mentee?

A: Build rapport – discover what you have in common.

 

Still have unanswered questions? Reach out to me at jeromine@mondomentor.com