Do you use a business mentor ?

[myko007]

Hi to all. I have noticed that here are smart and successful business owners and other participants from many different backgrounds. Therefore i have question, if anyone is using a real life business mentor who supports and guides you when you need it, or its enough to read some clever books like e-myth or so and try get it done on your own or maybe simply using UKBF to get the question solved ?

If someone uses a business mentor it would be nice to hear how to choose one for the business.

Thanks

 

[blueprinthub.co.uk]

Hi to all. I have noticed that here are smart and successful business owners and other participants from many different backgrounds. Therefore i have question, if anyone is using a real life business mentor who supports and guides you when you need it, or its enough to read some clever books like e-myth or so and try get it done on your own or maybe simply using UKBF to get the question solved ?

If someone uses a business mentor it would be nice to hear how to choose one for the business.

Thanks

I personally don't use a mentor, at least not formally.
What I do draw upon is the thoughts of people I trust.

The reason for this is I think that some situations in business require you to see things from various different perspectives and thus to be able to draw upon the experiences and opinions of a wide range of different people.

If you find a good business mentor (generally somebody who has been there and done it), then that's good and can be very helpful.

I just think that tying yourself to one person shapes your perspective and thought processes into their mould, and I like to maintain a somewhat independent and open mindset.

Hope that makes sense.

 

[Clinton]

I can't understand this modern culture of needing someone to hold your hand.

If anyone feels they need a mentor before they start a business then ...they are not ready to start a business. They should go do something else with their lives - something that requires no guts, no balls, no risk, no putting themselves out, no initiative...

 

[lockyer]

Not got my lockyers hat on here. But ever business mentor I've encountered talked absolute garbage.

Those who can, do. Those who can't, teach!

Just use common sense for Christs sake

 

[JEREMY HAWKE]

Yes @lockyer I fully agree all the mentors I have come across drive cheap cars and wear cheap shoes and have no track record

 

[bodgitt&scarperLTD]

Once you have shown aptitude and put in the legwork/taken some risks, you may be fortunate to run across a true mentor, who has walked the walk and has the expensive t-shirt (figuratively speaking) to show for it.

The big giveaway is that they won't want any money for mentoring- they don't need it.

 

[Clinton]

The big giveaway is that they won't want any money for mentoring- they don't need it.

Unfortunately, that's not an infallible test. There are several I know who don't ask for money ... and they are the most dangerous ones! They steer mentees towards services provided by other companies in which they have a monetary interest.

The really genuine mentors are the ones providing services to the likes of the Prince's Trust rather than to the rich little kid starting a business with mum and dad's money.

 

[Deleted member 315707]

I can't understand this modern culture of needing someone to hold your hand.

If anyone feels they need a mentor before they start a business then ...they are not ready to start a business. They should go do something else with their lives - something that requires no guts, no balls, no risk, no putting themselves out, no initiative...

I completely disagree with this logic. I personally think it shows an incredible level of self awareness and initiative to understand where you need help and guidance then seek someone with that experience that could help you.

That's a true mark of a great business leader because once you can do it with yourself, you'll be able to do it with others and help them grow.

 

[Wogan May]

Ultimately you're responsible for charting your own path, but it's absolutely worth looking up the advice and past experiences of others in your field. Stand upon the shoulders of giants and all that.

My experience has been that mentors are not necessarily permanent. You're not going to latch on to one that can teach you everything you need to know. Rather, you're going to meet people that have some of the experience and insight that would benefit you, and it becomes a mutually beneficial arrangement: They get to share what they know, you get to learn, and eventually you both end up moving on.

I'd definitely be open-minded to the idea that there are people out there with more experience and knowledge on a problem you're trying to solve. I'd be wary if they explicitly label themselves mentors though (like how we had the "social media guru" epidemic a few years ago), but if they seem genuinely passionate about their industry and are open to talking about it, more often than not you'll have struck gold.

In my own case, my "mentors" have included my own father (ran a business for over 30 years), the CEO and President of my former employer, several partners I've worked with in different industries, and a handful of books. In no case did we ever explicitly declare it a "mentor/mentee" relationship, but in every case there was some sort of value exchanged.

 

[Wogan May]

Oh, also - if you have 30 minutes free, I universally recommend "Principles for Success by Ray Dalio (In 30 minutes)" on YouTube. I'd link it directly but I haven't built up the required post count yet

 

[myko007]

Fellas I agree with you all and thanks for your thoughts, however lets put it this way who says a mentor is not needed. How about if you are after a more complex organisation from the beginning, where involves more roles such as admin, marketing, work force, accountancy and other bits and pieces and you need to organize and maintain it all.. I am not talking about self employed or solo businesses, but rather more complex one. Therefore i must agree to disagree with @Clinton as from my own experience i am self employed trader now however i would like to go to next level, so sometimes it is very difficult to climb up the hill on my own if you want to plan something bigger..
Yes there are plenty books and everything else and i assume we all read it through, however the question is: if it always helps to tackle with a real situation in the real life?
Haha @lockyer i also agree that there are a lot of fake mentors out there and its true that to find the one is a big task..

 

[Ben F]

Hi to all. I have noticed that here are smart and successful business owners and other participants from many different backgrounds. Therefore i have question, if anyone is using a real life business mentor who supports and guides you when you need it, or its enough to read some clever books like e-myth or so and try get it done on your own or maybe simply using UKBF to get the question solved ?

If someone uses a business mentor it would be nice to hear how to choose one for the business.

Thanks

Yes, I love to take some advice from my mentor. I believe a good business mentor will aloows you to get more benefits from your business. Here are some of the benefits of choosing a good business mentor:

• Encouragement
  
  
• Constructive Feedback
  
• New Challenges
  
• Network Building
  

a business mentor will directly affect, or perhaps even define your career, you will want to make sure you make the right choice.

 

[Clinton]

My experience has been that mentors are not necessarily permanent. You're not going to latch on to one that can teach you everything you need to know.

Ah, but that's where you're wrong.

People of a certain generation (no finger pointing to the OP) want a teat they can latch onto and suck for the rest of their lives (or till they become Richard Branson... which is pretty much the rest of their lives).

Just one teat, you can't go switching from teat to teat as that's too much hard work.

And they want that teat for free - just like wifi is free and Facebook is free and everything else their generation grew up with was free. Why pay for a/c, legal or other business advice? Only stupid people pay for professional advice.

There's something else typical of a certain generation: Nothing small for them, no sir! They might be complete novices when it comes to business, having never run a business before, but they are so clever, so talented, so precious that anything they start will never be a small business. It will, obviously, grow to be a large, multinational megacorp.

Those who are looking for a teat to latch onto - good luck. Knowing what the mentoring "market" is like out there, I say the chances are that you are going to end up as right suckers.

@myko007 , your post suggests that English is not your native language (and if you're the product of 13 years of state education then Brexit is a pointless argument - the UK is doomed no matter what choice it made!).

My suggestion would be to improve your communication skills and learn a bit about business. If the business you started four years ago is not thriving now, it's not because of a lack of a mentor!

Take on a partner or shareholder who has skills that you lack. Or hire the right talent. Yes, that involves paying money. In business we call that a salary. Do more of that rather than looking for "the one" (your choice of cringe worthy words, not mine).

...a business mentor will directly affect, or perhaps even define your career, you will want to make sure you make the right choice.

Well done, brilliant, very clever. You know how to copy/paste from here. Any other tricks you know?

 

[Wogan May]

People of a certain generation (no finger pointing to the OP) want a teat they can latch onto and suck for the rest of their lives

Sounds like you have a deep-seated personal problem with millennials, more so than insight to offer about business mentors.

 

[Clinton]

I've given my thoughts on mentors. I've been in business for 35 years. I volunteer at local schools, have volunteered at business events organised by the local Rotary Club I co-founded, have assisted local councils and other organisations (by, for example, running mock interviews for high school pupils) etc. I'm also fortunate to get invited to a lot of events for Private Equity firms, family offices and investors where I meet people with money and with a lot of business experience.

I don't mention all of this to get any kudos but to demonstrate that I've had numerous opportunities to meet mentors and I have met many. Very, very few are truly altruistic, most are in it for their own personal gain. Those people who are new to business and clueless about the ways of the world are perfect fodder.

 

[davidlee21]

It's always better to have a mentor. Since having a mentor will always help you understand the situation better.

 

[blueprinthub.co.uk]

Ah, but that's where you're wrong.

People of a certain generation (no finger pointing to the OP) want a teat they can latch onto and suck for the rest of their lives (or till they become Richard Branson... which is pretty much the rest of their lives).

Just one teat, you can't go switching from teat to teat as that's too much hard work.

And they want that teat for free - just like wifi is free and Facebook is free and everything else their generation grew up with was free. Why pay for a/c, legal or other business advice? Only stupid people pay for professional advice.

There's something else typical of a certain generation: Nothing small for them, no sir! They might be complete novices when it comes to business, having never run a business before, but they are so clever, so talented, so precious that anything they start will never be a small business. It will, obviously, grow to be a large, multinational megacorp.

Those who are looking for a teat to latch onto - good luck. Knowing what the mentoring "market" is like out there, I say the chances are that you are going to end up as right suckers.

@myko007 , your post suggests that English is not your native language (and if you're the product of 13 years of state education then Brexit is a pointless argument - the UK is doomed no matter what choice it made!).

My suggestion would be to improve your communication skills and learn a bit about business. If the business you started four years ago is not thriving now, it's not because of a lack of a mentor!

Take on a partner or shareholder who has skills that you lack. Or hire the right talent. Yes, that involves paying money. In business we call that a salary. Do more of that rather than looking for "the one" (your choice of cringe worthy words, not mine).


Well done, brilliant, very clever. You know how to copy/paste from here. Any other tricks you know?

Cheer up, it's Christmas!

 

[fisicx]

How about if you are after a more complex organisation from the beginning, where involves more roles such as admin, marketing, work force, accountancy and other bits and pieces and you need to organize and maintain it all.

That's not the role of as mentor. If you need to set all these things up you need an accountant, HR specialist, legal advisor, recruiter, production or operations manager an so on.

 

[jackgrylls]

it’s pretty obvious that finding a mentor can have an enormous impact on the various stages of just about any business. The connections can open doors that would otherwise be closed and their experiences can save entrepreneurs from suffering from the same mistakes they’ve already made.

 

[Mark T Jones]

I guess the whole question is coloured by interpretation of mentors, in particular those shabby types who sell mentoring either as a formula or as a referral tool for commissions

I would say without exception that every single business owner can benefit massively from having access to a person or small group of people who can challenge and guide them. Ironically, that person needn’t be successful in business nor wealthy - it’s more about interpersonal skills and focus.

The mindset of ‘nobody can tell me how to run my business’ is almost certainly the most limiting belief you can have

 

[myko007]

@Clinton yes mate i am

@myko007 , your post suggests that English is not your native language (and if you're the product of 13 years of state education then Brexit is a pointless argument - the UK is doomed no matter what choice it made!).

@Clinton yes mate i am a foreigner you probably have noticed that from my face in the picture and seems it did hurt you a lot here, looks like you are a hardcore BREXITEER. Yes i am a product of what you have mentioned, but how about yourself ??? Through your post looks like you are full of negativity, hater of people, mostly humiliating them by your inappropriate comments rather than giving advise. But do you know what ? I don't give a s..t whatever you think about me or us.. I have my own life and do the business for living, by helping people, not ripping them off like... You have no idea who am i and what i do, so how can you judge in a such way? Its ridiculous fella... And if you do not like foreigners posts, please just go around and do not say go back to your country and learn English better, then talk to us.. I just asked a question, wanted others opinion about the topic.. I bet if we ever meet you would change your mind despite of incorrect English grammar and nationality..
I do apologies folks for my bad English and this post, however it touched me a bit...

 

[myko007]

Thanks a lot to all who have expressed their thoughts to this topic.

 

[Alan]

That's not the role of as mentor. If you need to set all these things up you need an accountant, HR specialist, legal advisor, recruiter, production or operations manager an so on.

This is a valid point, a mentor would advise you to hire specialists ( often called 'consultants' ) to define exactly what you need.

There is often confusion between the roles of
- mentor
- coach
- consultant

Make sure you know what you are seeking.

 

[Noah]

@Clinton yes mate i am a foreigner you probably have noticed that from my face in the picture and seems it did hurt you a lot here, looks like you are a hardcore BREXITEER.

'scuse me butting in, myko, but I think you misunderstood Clinton. Yes, he is blunt to the point of rudeness, but he was not being rude about you. He meant that if you were English and educated in England then our education system is very poor! As you say, you are not and you were not, so do not take it personally.

And the Brexit reference was just a red herring - I don't really know or care what position Clinton takes on Brexit, but I would be very surprised if he is "a hardcore BREXITEER."

 

[Noah]

I have been "mentored" by several people with diverse backgrounds, all of whom I have approached directly (usually following informal "let me know if you need help with / want to discuss something" offers).

I would not seriously consider approaching some stranger who advertises their services as "mentor", nor would I ever consider paying someone for such a role (maybe trade-in-kind, but certainly not cash - that's just so vulgar).

Having said that, I am fortunate to have plenty of acquaintances who have proven knowledge and experience in some relevant areas; maybe I would be more motivated to look for formal help if I was less fortunate - I can certainly understand why others might.

Of course, The UKBF Brains Trust is itself just a form of mentoring, isn't it?

 

[Clinton]

I don't really know or care what position Clinton takes on Brexit, but I would be very surprised if he is "a hardcore BREXITEER."

For the record, I voted Remain. My posts in the immediate aftermath of the Referendum stated this (if anyone cares to check).

But I've changed my mind since. I think Britain will do really well outside of the EU though she may take a few years to find her feet.

...i am a foreigner you probably have noticed that from my face in the picture and seems it did hurt you a lot here..

Nice face! Hope you like mine. Don't miss my curly blond hair and blue eyes.

 

[myko007]

@Noah @Clinton and the rest of you, never mind and thank you very much for your words. I wish you all the best in the new year !! Of course @Noah the UKBF is an absolutely great place to get some advice and knowledge and you are right, it is itself a form of mentoring. However apparently not for everyone to post, especially with shity English knowledge haha... Ah anyway please carry on sharing your ideas, thoughts and topics, as some of them are very useful. And @Clinton try to be more positive the new year is coming.

 

[ineedadollar]

Started up without any mentors etc. I think it really depends on your business needs. and what you classify as a mentor. I tend to try and get opinions off friends who have been in a similar boat. Avoid family as they will tell you what you want to hear. People in business are out to make money so if you paying a mentor then you are their customer and their job will be to extract money from you.
Also, I come here for advice if I need it. I get a wide range of opinions. and ideas i haven't thought of so can work out what i need to listen to and nobody is upset i didn't take their advice

 

[thelondonbuilder]

Wasn’t sure to start a new post or tag onto a popular older one!

Long time no post, long time lurker. I’m a sole trader in about year five turning over £150k running at about 10-15% net. Employ one part timer and two full timer contractors to help with the property maintenance in London.

Have given a bit of info as have seen a previous post get heckled for not giving any..

I’m looking for a mentor, I think. Would like to make better what we have and decide what shape /size it should be. Have great clients and could expand with them..

Have looked at various offers on Mentorsme but seems like they’re larger companies which fairly are looking to make some £, not the kind of one to one, which I would be prepared to pay for for the night program, nothing is usually for nothing.

Mods, if this would do better as a stand alone post please let me know.

 

[Redd]

Anyone had any experience with Actioncoach? They see pretty good but pretty expensive too at £350+vat per hour

 

[Higgsy]

Anyone had any experience with Actioncoach? They see pretty good but pretty expensive too at £350+vat per hour

Hi Redd,

I use ActionCoach, although I chose action coach because I have a business colleague that has started their "franchise" in it. Otherwise I may have used another one.

Do your research behind the coaches, some have no experience; but that's the same in any industry I guess.

 

[Clinton]

...I would be prepared to pay for for...

For something like this you obviously want someone highly experienced. So what do you think is a reasonable price per hour?

(Not that I'm offering to assist in either a paid or unpaid capacity)

 

[TheWebDesignCompany]

Most people starting up in business don’t have the funds for a business coach.

If you do have the funds, you could easily lose them by getting poor advice. There are bound to be some great coaches and some terrible ones.

Unless you have a personal recommendation for a business coach from someone in the industry you wish to enter, who themselves used that coach and are now thriving; You may be better off trying to find others in the industry that are willing to give you tips.

Or even go and work for someone and learn from them before you start up.

 

[Anthony K]

I think everyone should have a mentor or business coach. The most successful business people and entrepreneurs in the world have one. There is always room for improvement and knowledge to gain, regardless of how many years experience and success you have. It's about finding one that feels right for you and can further you on your journey.

 

[AllUpHere]

Anyone had any experience with Actioncoach? They see pretty good but pretty expensive too at £350+vat per hour

The fact they need to buy a franchise to get clients, tells you everything you need to know.

 

[Redd]

The fact they need to buy a franchise to get clients, tells you everything you need to know.

thats a crazy statement to make. McDonalds is a franchise and the average McDonalds does over 1 million turnover a year. They follow a proven strategy to flip burgers……………….guess what? It works and very very well!

 

[AllUpHere]

thats a crazy statement to make. McDonalds is a franchise and the average McDonalds does over 1 million turnover a year. They follow a proven strategy to flip burgers……………….guess what? It works and very very well!

You've missed my point. Why would anyone who knew enough to be a good business mentor / coach, need to buy a franchise to set themselves up as a business mentor / coach?

I could set myself up as a coach or mentor tomorrow, and be booked up for months by the end of next week. Why can't they?

 

[GTL]

On a broader note, mentoring is not limited to plain ‘mentorers’.

Many startups these days raise cash from outsiders, and to help do this they put boards together. Often they have to in order to get a lead investor. Happens a lot in the food sector. These board members are effectively mentoring.

However often these lead investors have no startup experience, and in some cases they are doing the wrong thing in looking for startup board roles.

I’ve yet to meet a board member who is any good for his advice. Good, logical advice is critical for a newco looking to ‘make it’. But the logic will mainly come from the founder. Mentorers like those I have described do not live and breathe the business day in and day out. I have seen some terrible advice both in my own experience and also for small companies I have done a bit of work for.; some shocking mentoring in fact.

Clinton’s comments are sound indeed.

If you are going to have a mentor, a board member etc then you have to choose very carefully. My advice would be someone who knows numbers, above all else. Most of the time that will be your accountant.

 

[justinaldridge]

We have used different coaches and consultants at different stages in the growth of our business. They were all quite different and brought different and helpful suggestions and guidance at the time they came on board. We currently do have a consultant helping us with an area of the business which needs the experience of someone who's done it before.

Businesses get stuck at different growth points/revenue levels and often it is very helpful to have someone who knows how to get you past that sticking point.

It is a very valuable addition for us but choosing the right coach is not easy.

 

[Redd]

[QUOTE="AllUpHere, post: 2920199, member: 231812I could set myself up as a coach or mentor tomorrow, and be booked up for months by the end of next week. Why can't they?[/QUOTE]

What gives you that idea??