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Determinator Mentor
How to Select a Business Coach or Mentor
Small business owners often have to be in serious trouble before they'll turn to someone for help. But that is changing as business coaching and mentoring becomes more popular and widely accepted. Ideally, every business should periodically seek help from a coach or mentor who will bring in an outside viewpoint and ideas.
A business coach or mentor can plug a gap in your knowledge, and provide a sounding board for your ideas. They should be impartial, and have enough experience to critically evaluate your situation and identify key business issues.
Business coaching has grown out of the consulting industry, but tends to be focused on the wider needs of small businesses as opposed to the detailed knowledge that might be needed in a specialist consulting role in a bigger organization.
Because of the ease with which anyone can become a mentor or coach, and because your business is riding on advice you might receive from them, you need to ask yourself two questions to determine what type of coach you need:
1) Is my issue business-focused (i.e. the overall operations), or is it problem-focused (e.g. I need to lease a new warehouse)?
2) If it's problem-focused, is this really a manifestation of something that's wrong in the whole company, in which case you really need a business-focused coach/mentor
Question 2 is difficult for a business owner to answer – you may be so close to your business, working in it, that you can't recognize what the true issues are.
In the example above, a company might have identified it needs a new warehouse – this is potentially a problem that could be solved by someone who has specialist knowledge in finding real estate and negotiating contracts; someone with a legal background, perhaps. This is purely problem-focused. But focusing on the business might throw up some interesting background issues that are causing the need for a bigger warehouse, such as:
- Ineffective warehouse manager can't stack stock efficiently
- Outdated or ineffective warehouse equipment (e.g. forkhoist or shelving) means space is wasted
- Poor sales cycle planning means you're holding stock when you don't need to
- Inadequate inventory management and over-purchasing means you're taking up too much space by buying the wrong things at the wrong time
- It may be more efficient and cost effective to rent temporary storage when needed, rather than take on a lease
Those are just five examples of serious business problems that may be tricking you into thinking you really have a space problem.
So, when you are choosing a business coach you will need to ask them questions to determine what experience they have. Ideally, they will be highly experienced in the areas where you think you have a problem (in this case, legal), as well as have a good background in general management.
The main questions to ask are:
1) Give me some examples of how you have helped other clients like us
2) What is your specific area of expertise?
3) What is your background experience running small businesses?
4) What do you most enjoy doing in a business?
5) How would you approach this assignment?
The more general management experience you have as a business owner, the more likely it is that you will receive the most benefit from problem-focused coaches, who are essentially the equivalents of specialist consultants. But if you are a new business owner, consider a coach or mentor who has a good grounding in general management and either sales or accounting (it's rare to be good at both sales and accounting).
The final thing to remember is that a business mentor or coach will not wave a wand and make all your problems disappear. You will still have to follow through on their recommendations. Ultimately, the business is your responsibility, not theirs.
About the Author
Mike Lincoln is a medical researcher with an interest in music and business. If you run a business you may need an industrial dehumidifier to ensure your workplace is healthy and dry. Assess your requirements for a dehumidifier by evaluating costs vs return in terms of less degradation of materials, fewer sick days by employees, and so on.
Celebrating National Mentoring Month