What Are the Benefits of Business Mentoring & Business Coaching?
22nd Sep , 2016
While there are many benefits businesspeople can gain from engaging a business mentor or a business coach, it’s not only the person being mentored who benefits – business coaching and mentoring can also have a positive impact on the mentor, the mentoring program overseer, and if relevant, the organisation or company itself.
At International Business Mentors, we provide business mentors and business coaches for business owners, directors, CEOs, family businesses, and senior executives. While some of the issues faced are across the board and are relevant to all business people, others are unique or affect only a particular grouping.
Let’s have a look at the general overview of benefits that business coaching can provide, after which we will look at the more specific requirements we’re often asked for assistance with.
THE MENTEE (He or She Being Mentored)
The benefits of business coaching and business mentoring for the mentee include:
- Improved business performance
- Friendly, confidential support
- The ability to be challenged and think laterally
- Learning from the experiences, successes and mistakes of their individually matched business mentor or business coach
- Having a confidential sounding board for ideas
- Assistance with goal setting
THE BUSINESS MENTOR OR BUSINESS COACH
The business mentor can also benefit from the business coaching and mentoring process, as they are able to:
- Share their experience and skills
- Obtain satisfaction in the desire to help those they mentor to succeed
THE MENTORING PROGRAM OVERSEER
Benefits enjoyed by the mentoring program overseer throughout the business mentoring process include:
- Satisfaction in seeing successful results
- Building a solid and reputable reputation
THE BUSINESS, ORGANISATION OR COMPANY
As well as helping individuals, business mentoring and coaching is also beneficial for businesses, who can receive:
- Results – namely improved business performance
- Support for key executives to instil loyalty and appreciation
- Assistance in a critical area
Why Use Business Coaching?
Over the years, International Business Mentors has been approached to find business mentors for people in business for many different reasons. The following is a summary of the most common triggers:
BUSINESS OWNERS
Business owners often seek out business coaching for:
- Business Growth
- Confidential support
- Sounding board for ideas
- Strategy and risk
- Reassessing business plans and goals
- Preparation for sale
- Succession planning
DIRECTORS
Many directors have approached us over the years, requiring business mentoring for the following:
- Improve contribution to the board
- Relationships within the board and the executive
- Reporting and committee work
- Liaising with the CEO and other key executives
FAMILY BUSINESSES
We see many family businesses that need business coaching for:
- Succession planning and constitutions
- Career mentoring within the family business
- Relationship issues
- Business Growth
- Prepare the business for sale
- Board selection, reporting and succession ( if relevant)
CEOs
Due to the demanding nature of the role, it’s no surprise that many CEOs seek out business coaching and mentoring for:
- Transitioning into the role
- Relationships with the board and executive
- Confidential support
- Sounding board
- Strategic input
- Leadership
SENIOR EXECUTIVES
Senior executives often approach us for business mentoring that provides assistance with:
- Transition
- Improved business performance
- Relationships within the organisation
- Leadership
Regardless of what is needed in terms of assistance, it is critical that the business mentor not only has the right experience, skills and background, but is also the right personal fit. Without this, the business mentoring relationship may not develop, as information will not be exchanged freely.
At International Business Mentors, we have strict criteria in selecting our business mentors and business coaches before individually matching them with people in business. Each mentor has a wealth of business experience to share in order to help their mentee succeed.
Call us today for a no-obligation discussion on how you could benefit from business coaching and mentoring with International Business Mentors.