What is a business mentor?
A business mentor is an experienced individual who offers independent advice, guidance and support to help you successfully run and grow your business. Every step of the journey, they will be able to provide assistance and encouragement, enabling you to explore new opportunities, develop ideas, gain confidence, and bolster skills. Working as a trusted counsellor, a professional business coach and mentor is there to listen, guide and provide useful contacts and resources. The right mentor will help you, as an entrepreneur, reach your full potential. Above all, a small business mentor needs to be approachable, flexible, and knowledgeable. Their purpose is not to tell you what to do  its to advise, spurring you on to arrive at your own insights and make the right decisions. The role of a mentor in business is varied and wide-ranging. It all depends on what youre looking to gain, as a company. Maybe youre new to running a business and just want some general, well-rounded advice. Youll find that there are many different types of business mentors out there with unique industry knowledge and specialisms. Some, for instance, will have experience in a particular field, such as technology or finance, while others may boast a great reputation for working with start-ups. The importance of working with a business coach and mentor  For small businesses and start-ups, investing time and money in a business mentor can prove extremely beneficial. Aside from passing on valuable business knowledge and helping you develop your skills, they are able to provide a certain level of emotional support. In the early days of launching a company, its common for small business owners to feel burnt out, stressed, and isolated. A business coach and mentor will be able to empathise, offering support and reassurance so you feel like someones got your back. They will be able to help you look at situations from different perspectives and can provide practical tips, methods, and strategies for a host of circumstances. There are no strict guidelines on how business mentoring is delivered. The whole point is that its flexible and bespoke. The most important element is maintaining regular, professional contact between the mentor and mentee. This can involve face-to-face meetings or online interaction  or a combination of the two  and the sessions can be as casual and structured as you like. With business mentoring, theres not a one size fits all approach. We all work in different ways, so take some time to find the best arrangement for both parties. How to get a business mentor  Now that you know the benefits, next, youll be thinking about how to get a business mentor on board. To ensure youre fully harnessing the mentoring experience, its important to choose a mentor who has a deep understanding of how the world of business works. You can find professional, established small business mentors locally, as well as online. You could also choose someone from within your own social circle or business network  friends, family members and business contacts can make great mentors too. There are various options to explore. Do your research and consider your goals and requirements. Youll want to gel well with each other, after all. Well, you may be lucky enough to find a mentor whos willing to work for free, but more often than not, mentors will charge consultation fees. Its just up to you to negotiate. Be clear about what you want from the partnership. Its an important discussion to have so that you are both able to manage your expectations. We can help  GoCardless helps you automate payment collection, cutting down on the amount of admin your team needs to deal with when chasing invoices. Find out how GoCardless can help you with ad hoc payments or recurring payments.