1. Overview
Having a business mentor can give you a fresh perspective and independent view of your business or social enterprise. They can act as a sounding board when you are developing your strategy, help you spot opportunities and issues, and signpost you to resources and networks.
Becoming a mentor yourself is an opportunity to share your experiences and help other businesses.
This guide explains the benefits of business mentoring, how you can become a mentor and how the Scottish Business Mentoring Service matches experienced mentors with growing businesses.
2. The benefits of business mentoring
A business mentor can help you develop a stronger and more sustainable business. Mentored businesses and organisations report many benefits, including increases in turnover, productivity and employee numbers as a direct result of engaging with a mentor.
Mentors are volunteers who give their time freely. They have a wealth of knowledge, skills, experience and contacts they are willing to share. As successful business people, they understand the challenges you face as a business owner or leader of your organisation. By providing an impartial view, mentors can encourage you to look at your business or organisation with a fresh perspective. Sometimes, this is all that's needed to identify opportunities for growth.
The mentor's role is to support, develop, stimulate and challenge. An experienced mentor can help you to:
- develop key business skills
- improve your problem-solving abilities
- build your confidence
- develop your leadership skills
- widen your network of business contacts
If you are planning to develop and grow your business, this could be a very effective tool to help you plan your way forward.
3. Matching mentors and mentees
Scottish Business Mentoring matches experienced mentors with ambitious business people. The service is delivered across Scotland through a partnership between the Scottish Chambers of Commerce and UK Finance - a trade association for the banking and finance industry. There is no cost to use the service.
They have over 900 mentors and carefully select a mentor with the right skills and experience to support the mentee’s business development objectives and ambitions.
Mentoring can be through monthly meetings for a couple of hours to help work through strategic objectives and ambitions. Mentors can also be at the end of the phone to support as a sounding board and encourage mentees when things get tough.
Sometimes mentoring works on a one-to-one basis or as part of a group, where eight or ten companies meet to discuss common issues and share knowledge and resources under the guidance of a shared mentor. Either way, you can benefit from the insight, support and experience of a successful business person.
4. Becoming a business mentor
Do you have the skills and experience to act as a business mentor for ambitious, growing businesses?
Business mentors are volunteers who are keen to share their knowledge and experience. Acting as a sounding board, mentors help to support, develop, stimulate and challenge the leaders of businesses or social enterprises.
As successful business people in their own right, mentors have the experience and knowledge that growing businesses and organisations look for. Most importantly, they are willing to share their knowledge and provide encouragement and confidential and objective feedback to help you consider how to grow your business or organisation.
The benefits of being a business mentor
Being a mentor is a rewarding and satisfying experience. Mentors report that it can help them to:
- hone their coaching skills
- widen their contacts
- develop a new perspective on their business
Mentoring is challenging and stimulating for both parties. You'll feel considerable satisfaction when your mentee reports back progress and improvements on the issues and challenges that they are addressing. You'll also have the added satisfaction that you are giving something back and supporting the Scottish economy.
Skills and experience you'll need as a mentor
Business mentors have the right mix of skills and experience, including:
- the ability to listen and empathise
- respect for other people's views
- experience of the issues and challenges faced by growing businesses and organisations
- the ability to offer encouragement and sympathy
- a supportive and hands-off approach that allows others to make their own decisions
- a willingness to volunteer your time, knowlege and skills
How to take part
You can find out more by calling Scottish Business Mentoring on 0141 444 7500, emailing mentoring@scottishchambers.org.uk or by visiting the Scottish Business Mentoring website.
Business Gateway runs events covering all areas of running a business. You can also talk to an adviser by calling 0300 013 4753.
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