How mentoring can help you and your business

5 min read

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Mentoring is a great way to bring different and new perspectives and insights into your business, from people who can look at your challenges and opportunities differently. Here we look at the benefits of business mentoring. 
How mentoring can help you and your business

Building a relationship with a mentor can have many positive effects on your business, regardless of whether you’re in the middle of starting up for the first time or are a growing or established business. Having a business mentor can help you develop new business skills, give you a sounding board when facing challenging decisions, help you build your business network and bring new expertise into the business that you might otherwise not be able to access.

Of course, there are other ways to access support for your business, including coaching and training, so it’s important you think carefully about what help you’re looking for before you embark on looking for a mentor.

In summary a mentor can:
  • offer you an external perspective on your business
  • provide impartial and unbiased support
  • help you make business decisions based on their previous experience
  • provide constructive and honest feedback
  • share their own success and failures, helping you learn what’s worked for other people
  • listen confidentially to your worries, fears, challenges, opportunities and success
  • help you build your network
  • help you build your confidence
  • help you develop new business skills
  • talk through ideas, whether that be for new products and services or new ways of doing things.
What a mentor can’t do:
  • provide specific technical business advice that would be best coming from a specialist business adviser
  • provide training for you or your staff
  • take on responsibility for running your business
  • provide you with counselling that should be delivered by trained counsellors
  • take on a role as a business coach, who would usually focus on specific skills and development goals.

Mentoring isn’t just about the benefits to a mentee, a true mentorship relationship also works in both directions. This is what we sometimes call ‘reverse mentoring’ — your mentor gets to learn about new ideas, strategies, and tactics from you, just as you'll gain insight and ideas from them.

For more information on mentoring it’s worth having a look at Mentorsme which goes into more detail on what to look for in a mentoring programme, how to find a mentor, and what to do if you’d like to become a mentor. And of course, please have a look at our other resources.