Mentoring & Coaching
Mentoring and coaching are two business development strategies for individuals and organisations that are seeking an immediate impact. With Greek mythology origins, the word mentor is usually: a trusted friend, counselor or teacher, usually a more experienced person. This traditional concept of mentoring is that of an older, more experienced manager fostering the hierarchical progress of a younger ambitious protégé. Although elements of this sort of relationship are useful, this ‘sponsorship’ approach to mentoring is no longer relevant for today’s organisations. Today mentoring is a formally structured, non-reporting relationship undertaken to enhance professional practice, personal knowledge and organisational development.
A new breed of paid mentor has developed in the Irish market. ‘skilled business people’ who are advisers, mentors and coach rolled into one. They may be individuals who are specialists in a chosen area of expertise. Or they may be generalists with networks of contacts and proven CEO credentials. They possess the knowledge, skills and encouragement that the new business owner seek and can supplement their skills with those of the business owner to address concerns and add value to the business. Mentors may work with the owner on a specific assignment or be a ‘sounding board’ over an extended period of time.
Typically the business owner does not recognise that help is required. Short term difficulties may arise, a terminal decline in the business fortunes may not be identified or the rapid expansion of the business may be perceived to be within the management capabilities of the owner. It is not uncommon for the symptoms that adversely impact the business to go unrecognized for a period of time.
Many business owners will fail to appreciate that the small daily/weekly/monthly deterioration in revenues, customer satisfaction levels or cash flow lead eventually to catastrophe. As a consequence there may be a belief that the downward trend can be arrested and that fortunes will change in the near future.
Unfortunately a continuation of old practices will result in results similar to those previously experienced. Eventually there will be a realisation that change must happen (triggered by pressures within the business, stresses in private life or by the influence of a third party such as a government agency, bank, investor or customer) in order to overcome the problems and that the process of identifying and executing the required change is beyond the skill set of the owner.
At this time a skilled professional may be contracted as a mentor to assist the owner in overcoming the problems the business faces and dependent upon circumstances this may be viewed positively or negatively.
For the pro-active business owner who accepts external skills must be acquired to PREVENT the short term problems arising and to deliver results in the long term; a mentor appointment will be a positive action. With this in mind the mentor will be able to advise, provide moral support, share decision making skills and be someone to bring and impart new skills to the owner.
Be open and honest
Recognise and agree areas of skills deficiencies
Adhere to agreed time commitments
Work on building the relationships
Listen, learn and understand
Respect the confidentiality of the relationship
Agree and execute plans of actions
Don’t agree and then change with out consultation
Remember the decision making remains with the business owner. However, making informed decisions will undoubtedly lead to improved results.
A new breed of paid mentor has developed in the Irish market. ‘skilled business people’ who are advisers, mentors and coach rolled into one. They may be individuals who are specialists in a chosen area of expertise. Or they may be generalists with networks of contacts and proven CEO credentials. They possess the knowledge, skills and encouragement that the new business owner seek and can supplement their skills with those of the business owner to address concerns and add value to the business. Mentors may work with the owner on a specific assignment or be a ‘sounding board’ over an extended period of time.
Typically the business owner does not recognise that help is required. Short term difficulties may arise, a terminal decline in the business fortunes may not be identified or the rapid expansion of the business may be perceived to be within the management capabilities of the owner. It is not uncommon for the symptoms that adversely impact the business to go unrecognized for a period of time.
Many business owners will fail to appreciate that the small daily/weekly/monthly deterioration in revenues, customer satisfaction levels or cash flow lead eventually to catastrophe. As a consequence there may be a belief that the downward trend can be arrested and that fortunes will change in the near future.
Unfortunately a continuation of old practices will result in results similar to those previously experienced. Eventually there will be a realisation that change must happen (triggered by pressures within the business, stresses in private life or by the influence of a third party such as a government agency, bank, investor or customer) in order to overcome the problems and that the process of identifying and executing the required change is beyond the skill set of the owner.
At this time a skilled professional may be contracted as a mentor to assist the owner in overcoming the problems the business faces and dependent upon circumstances this may be viewed positively or negatively.
For the pro-active business owner who accepts external skills must be acquired to PREVENT the short term problems arising and to deliver results in the long term; a mentor appointment will be a positive action. With this in mind the mentor will be able to advise, provide moral support, share decision making skills and be someone to bring and impart new skills to the owner.
Be open and honest
Recognise and agree areas of skills deficiencies
Adhere to agreed time commitments
Work on building the relationships
Listen, learn and understand
Respect the confidentiality of the relationship
Agree and execute plans of actions
Don’t agree and then change with out consultation
Remember the decision making remains with the business owner. However, making informed decisions will undoubtedly lead to improved results.
