“A mentor is someone who allows you to see the hope inside yourself”
Building a successful business is the dream of every startup owner. Still, making this dream a reality takes a lot of time and courage of the person owning it and also of the people associated with it.
Taking the wrong step at the verge of developing phase of a business can turn out to be a disaster to make the business curve straight down towards the negative side of the graph. Thus bringing a significant loss in terms of money and the valuable assets of the company that is its employees.
A business mentor is the one who can come to the rescue, as he is the person who has a closer view of how the industry functions and excellent knowledge about the things that work out when done in a certain way.
This is just one attribute where mentorship proved to be fruitful. But the list is longer than you think it could be. So keep reading as, by the end of the article, you will be well aware of how these mentorship programs can help you make your business better.
1) Helps Strategically Develop your Greatest resources, your Employees
The first and foremost thing that comes when we talk about the business is the people that work day in and day out to make the things work for the company to work well.
Having a mentor who is well experienced and has already dealt with a significant number of personalities having different views will have the skills to understand your employees better, which you were busy in your everyday work schedule might not give time for.
The mentor helps the experienced employees of the company to find the new areas to grow and develop themselves, while for the newbies, they act as friends and guide that helps them tie a rope to their roles in the company.
With their unique team building program and other activities, they can help analyze the strength and the areas of improvement in them. The emphatic talks and the policy of giving honest feedback to help them grow are what improves the employee’s retention rate in the company, which you being the core member of the company, will find it harder.
2) Acts as a Backbone for the Management
The second and the most important of having a mentor for your business is they help you validate your plans. Business owners, at one point in their business, find it daunting to make their business decisions thinking about the results that might turn-table for them.
An experienced person having industry knowledge who have already been and dealt with such situations can guide what could be best done to get things right. They, with their opinion, give confidence to the business owners to make better decisions.
They help the business development and the strategy team to make better business plans and the actions that could match the goals that they are planning to achieve as an organization and thus gives a significant part in the company growth.
3) Acts as a rescue in danger
The next area where the mentors play an essential role is the time when a business needs a savior to take it out from the hurdles of the industry. Most of the mentors must have been a part of the failure and have experienced a significant downfall in their journey to success; this had made these experts deal with the different situations to plan better the next time.
Using their experiences of failure, these mentors can help to make plans predicting the risk factors involved in it and the exit strategy if the risk becomes out of control. They help the business owners to deal with the failure by making them ready for the situations if the plan fails and what can they do to come out of it stand up again.
With their tried and tested plan of execution, the chances of getting into such situations are lesser than what it could have been if they didn’t have a mentor with them.
4) Improved Business Network
The best advantage of having someone reputed in the industry as your business mentor is you get access to the vast network connected with them. Most of the experienced mentors have contacts in the industry, which can become excellent deal support for the newbie owners of the industry.
No matter whatever the situation might be, these business coaches have their connections and placed at different locations and industries to work well for the business they are connected with. The mentors act as the connector between the companies needing the services and the companies providing the service and thus are successful in fulfilling the demand and the supply gap of the industry to help each of the ones connected to them grow.
5) More Job Satisfaction and Happy Customers
The last and the most crucial advantage of having a business mentor (which is mostly underestimated) are the results that are seen in the form of happy and satisfied people connected with the business.
Whether it’s the employees or the customers, the possibility of things getting done right. People were satisfied with what you are serving to them increases under the guidance of a mentor. Talking about the employees, mentors know how to deal with them to get the most productive outputs out of them besides taking care of their needs and expectations as a worker.
When it comes to customers, their industry knowledge helps them to make products that can satisfy the user and make them feel contented with the service. So, all in all, it’s about having a swift in the business flow that comes with a better understanding and proper guidance.
Running a business becomes easy when you have a guiding hand of someone experienced in the niche. Business mentors thus play the role of catalyst for business growth and employee productivity. With their experience and vision towards the company goals, they can act as great support for the management by being the third eye of the organization.
Mentorship programs indeed are an excellent option for the modern corporate business owners to help the employees as well as your business to have a developing future by reaching a higher level of success.