A recent article in The Sunday Times highlighted the importance of having a mentor. Bob Garvey, a professor in mentoring and coaching at Sheffield Hallam University, has demonstrated in his programmes that not only could having a mentor help with a specific goal but could also provide much wider benefits for the entrepreneurs involved. These benefits include a transfer of new skills and knowledge, the creation of better networking opportunities, improved products and in some instances the opportunity of going into busines with their mentor.
Achieving goals is one, but not the main benefit however as the mentored executives also reported improvements in problem solving abilities, better interaction with others, and enhanced ability to cope with challenges. The executives reported a better undertanding of how people think, they appreciated the benefit of new insights into their own activities and they were put in situations where they had to think through their actions more thoroughly.
Choosing the right mentor is important too - don't choose for similarity but for difference - we all spend a lot of time with people in our own industry which is valuable for industry specific knowledge. However, when looking for someone who can expand your business horizons - look further afield - someone from a different profession will have experienced people differently and have varied insights into running a business this will provide more scope for decision making - having that alternative angle on a situation could give that breakthrough you are looking for in a particular situation.
Graeme Shankland from Bank of Scotland's Corporate has the following advice for people looking for mentor:
- Search widely and beyond your industry
- Look for experienced, successful people with a few grey hairs
- Be open and honest
- Be prepared to have your assumptions challenged
- Don't be afraid to find new mentors and use more than one at the same time
Warmest regards
Craig
