Business Mentoring

The Business Mentor

The contribution of a mentor is:

"an experienced, trusted and proven Adviser - someone to think out loud but in total confidence"

When we add the “business” label to that of mentor, we must ensure that the advisor is one who brings a wealth of experience, together with many years on-the-job actual business experience and wisdom acquired in an operating business environment. Grey hair and mature age are almost pre-requisites for successful business mentoring.

Perhaps the single most significant resource a business mentor can provide to a Family or Private Business owner is “ I’m here to help you take the next step!”

The key inputs and outputs provided by a Business Mentor include:
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Providing an external "sounding board" to you, the owner or owners because - "It's lonely at the top!"

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Putting in place practical Management Standards including Budgets, Profit and Cash Flow Projections

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Identifying Key Performance Drivers and Key Performance Indicators

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Instituting monthly review meetings with you and key employees to review cash flow and business performance

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Being a mentor to family members or partners in the business, especially in respect of generational changes planned or in place

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Ensuring that business planning does occur, so that financing of both growth and the owner's retirement are achieved to their satisfaction

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Providing a realistic awareness of the present and future worth of the business so that owners understand the need for maintaining the business in a sale-ready condition. That awareness is a powerful support to financing future growth.

How do I proceed to get my Business Mentor?

The first step is to recognise the need you have for a Business Mentor and the benefit you can expect.

The next step is to invite us to meet with you (at NO cost) to ascertain your wishes and aspirations for your family or private business. Following this meeting, we will assess the best way of addressing the issues raised and provide a Proposal (again at No cost). 

If you accept the proposal, a Business Mentor will be provided to meet your needs and will commence the mentoring program with you at the time, location and pace which makes you comfortable with your wise decision. 

We usually recommend an initial short term program to get to know the owner and stakeholders, during which time you will be able to see the benefits of our involvement and progress made.

Our experience has generally been that owners prefer us to remain involved because there has been significant increase in family or private business wealth arising from our assignment, and the desire of the owner for their business wealth to continue to increase.