Boss Lady

How a business mentor can grow your business, and make you love it more

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To climb Mount Everest, people train for months, if not years. They seek help from experts who have walked that path before them.

The same applies in business; you don’t need to do it all alone. Seek advice and guidance from accomplished mentors. Business mentors are experienced and successful individuals with a wealth of knowledge at their disposal.

Having spent the last 20 years as a leader in small and medium private businesses, and as the CEO of two large multinationals, I know how hard business can be. However, what made it easier was the fact that I had help. That support ranged from the team around me to executive mentors who provided expert guidance and advice.

I attribute my success in business to surrounding myself with the right people: people who are smarter than me — individuals who help me grow and prosper. My mentors have been leaders in their field who have the knowledge and experience I once lacked; they helped me take my career, business and results to the next level.

After hearing many comments from entrepreneurs and business owners about how they wished they could afford a CEO for their business, the seed was planted. The innovative Virtual Executive concept was born.

Our aim is to help small to medium businesses build a business and a life they love, through the advice and guidance of accomplished executives — some of the cleverest business people who have a history of achievements in business. Your businesses success depends on it.

When it comes to growing your business, you will save time, money, and headaches by tapping into the skill-set of a seasoned business mentor. Here’s why.

Not all advice is created equal

You might question whether you need a business mentor if you have friends in business, or perhaps you prefer to work it all out as you go. However, both these approaches will ultimately waste your time and money. The people you surround yourself with are essential to your success or failure. So you should associate with — and learn from — those who are already more successful and have more experience.

Business mentors have valuable passion, knowledge, and insight that can not only help you grow your business but yourself — as an entrepreneur and an individual.

A business mentor is a source of advice, support, networking, and inspiration. They will both encourage you and hold you accountable. Not only does a mentor know the answers, but they can also help you identify which questions to ask. There is no substitute for wisdom and experience when it comes to growing a business.

Work on your business, not in your business

Strategic management and planning are essential for growth. For a business to grow, it’s important to step back, observe, assess, and plan. But focusing on the bigger picture can be a struggle for small business owners who are responsible for day-to-day tasks. Being short of time and not knowing where to start can make it a daunting task, and easier to just ignore. But this is where businesses with an executive thrive.

Hard work is pointless if you have no clear direction and foundation to build on. A business mentor will coach you in outlining your plans for the future and creating specific, actionable guidelines on how to get there. Learn how to analyse key performance indicators so you can make the best possible decisions for your business consistently, and so all the hard work you do day-to-day is steadily leading you towards success.

Choose your team carefully and inspire them to greatness

Your business is only as good as the team around you. A business advisor will help you to choose employees who reflect your company’s values and consistently perform. Each employee should have a clear job description that outlines their contribution to your strategic plan, and the steps they must take to further that plan.

Of course, none of this is enough without strong leadership. Your business mentor will provide a leadership model for your business; but more importantly, they will teach you how to become a strong leader yourself.

Creating a positive working culture is imperative for the happiness and productivity of your employees. Everyone should be treated with dignity and respect, and your whole team should feel they are important in contributing to the business’ goals. But part of carefully selecting a great team is also knowing when to let people go, and weighing up the benefits of more or less expensive labour. Your mentor will guide you in identifying the right fit for your business.

There are many benefits to having advice and mentoring from an experienced virtual executive. An expert on your team, helping you achieve your goals. There is no doubt that if you are prepared to seek advice and mentorships, you and your business will grow, prosper and thrive, and you will create a business and a life you love. It’s the best investment you could make in your future.

 

About Caroline Kennedy

Caroline Kennedy is an experienced CEO. She has led small, medium and multinational companies, with annual revenues ranging from $1 million to more than $200 million. With over 20 years of expertise spanning across the corporate and private industry. She has a track record of achieving transformational change and delivering results.Caroline has built a reputation as one of Australia's foremost experts on business. Both awards and media coverage commend her work. The Telstra Business Women’s Awards acknowledged Caroline twice for her achievements in business.She is a published author. An Avid trend watcher who contributes to The Huffington Post. Caroline’s book The Power of Wow! Why Thank You Makes Dollars & Sense, shares a 7 step method to help businesses increase sales, retain staff and have clients rave about them.

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