Business mentoring

Most business owners have someone they talk to on a regular basis to help them make decisions, or at the least, to provide some input for the owner to make a better decision. The person or people you talk to can be from a variety of sources, such as:

Friends and relatives you meet socially
Other business owners in a similar industry
Business associations and membership organisations
Industry associations and specialist groups
High-profile entrepreneurs
Coaches, mentors, professional advisers, accountants
Professional directors.

Each of these sources of advice escalates in importance and requirements; paying for a professional director or board member who you meet on a monthly basis is a lot different from chatting to a friend at the local pub, but each has its own benefits and disadvantages.

The key is to recognise that mentoring is used by the most successful companies in New Zealand, and that it is critical to start the process now (even if it is an informal step).

Ideally, contact Business Mentors New Zealand to match you to a Business Mentor, or learn more about how governance can help you run your business more effectively with information from the Institute of Directors. They have an excellent resource on forming your very first board.

What is mentoring?

Business mentoring is usually an informal process where an experienced peer offers business advice, guidance and support. Their experience enables them to offer once-off or on-going input to boost your business performance. Find out more about the mentoring process and the mentoring options available to small businesses in New Zealand.

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