Eight reasons why having a mentor can help boost your business performance
26 October 2020
Business leaders across all sectors in Greater Manchester are facing unprecedented challenges in the wake of the Covid-19 pandemic. While these issues may vary from business to business, there are undoubtedly other leaders with insights that could help with whatever you are dealing with.
Even if your business challenges don’t stem from Covid-19, a professional mentor can be an invaluable resource in helping your business grow by building confidence, enhancing knowledge and skills, as well as helping hone your vision and strategies.
Whatever sector your business operates in, there’s a mentor in Greater Manchester who will be suitable for you, and whatever challenges your business is facing, a mentor’s experience and insight could help you find solutions.
Here are eight ways a mentor could help you to boost your business’s performance:
1. Increasing your knowledge
As the leader of your business, you’re the expert in what it can bring to your customers and clients. You’ll also have extensive and in-depth knowledge of your sector. But any strong leader has to also be aware of everything they DON’T know and willing to keep on learning. Having a mentor gives you the opportunity to learn from someone who may have more experience or just different experiences that can be applied equally to your business.
2. Gaining a different perspective
Working inside your own business can make it hard to see the bigger picture, appreciate what you are doing right and identify what could be done more effectively. A mentor will take a deep dive into your business with fresh, impartial eyes and will be able to offer you honest counsel, identifying issues and solutions that someone on the inside might never have been able to see.
3. Developing your skills
Working with a mentor isn’t all about strategy, it can also be a great opportunity to consider your skillset and work on any that need improvement. Asking a mentor for their insight and tips can help you hone your skills, which will have a positive impact on the whole business.
4. Focusing on the big picture
No-one will have the same exact vision as you for the future of your business, that’s a major part of any leader’s role. However, you’re also likely to be immersed in the day to day running of your business, firefighting when necessary and lacking the headspace to keep focused on the bigger picture. A mentor can help you shift that focus back where it needs to be, encouraging you to take time away from daily tasks to ensure your business remains on track.
5. Having a space to vent
Leadership can be lonely, especially when you don’t have someone neutral to talk to about your fears and frustrations. This might have been especially apparent in the midst of the Covid-19 pandemic. Having a mentor offers someone impartial to vent to, who can empathise with your situation as well as remaining objective and focusing on solution.
6. Growing your network
At the very least, working with a mentor boosts your network by at least one important person, someone with whom you can build a long-term business relationship. You also gain the potential for introductions to their own wider network of contacts, who could be equally valuable for your business. As you work through your opportunities and challenges, your mentor may be able to connect you with exactly the person you need to take your business to the next level.
7. Building your confidence
As the leader of your team, you need to exude confidence, even when times are tough, but how do you maintain your own confidence? Working with a mentor gives you the chance to feel boosted by a valued peer - providing the kind of feedback and encouragement that great leaders often give, but very rarely receive back. With more confidence, you’ll be in a better place to make the right decisions to guide your business.
8. Having someone to challenge you
An effective mentor will not be afraid to challenge you on any decisions you’ve made or are planning to make. Being held accountable and asked why you are doing something can be a hugely valuable and motivating exercise, which will help you make the right decisions to take your business forwards.
Mentoring is a fully-funded support programme provided by GC Business Growth Hub and its expert team of mentoring advisors. On average, our team matches 10 new mentoring relationships each month, facilitating around 10-20 hours of one-to-one mentoring sessions.
Because no two people are the same, our volunteer mentors are carefully selected for their expertise and matched with a person, rather than a business.
If you are aiming to grow your business and are interested in finding out more about our mentoring programmes, including how to become a mentee or mentor, get in touch today.