While there are often similarities and crossovers, executive coaching and business mentoring fulfil different functions and have different drivers and objectives.
Business mentoring helps an executive shape and define their core business values, objectives, strategy, and tactics. A business mentor will typically be someone from the same profession (or even the same company). They may possibly be from the wider industry sector, who has “been there and done that”. They will become your seasoned ally, willing to share wisdom, insights, network and experience, often gained over many years.
At its core, mentoring is is a symbiotic relationship that fosters a supportive environment where you, as the CEO, MD, or business owner, can navigate the complexities of decision-making with confidence. Your mentor acts as a sounding board, offering valuable insights, challenging assumptions, and sparking innovative ideas.
They will bring a wealth of experience to the table, helping you:
– Mitigate the inherent risks associated with big decisions by providing a shared understanding and exploring various options collaboratively.
– Expedite progress by streamlining efforts towards impactful actions, ultimately bolstering profitability.
– Broaden your horizons, unveiling new avenues for growth and innovation as you refine your focus and pursue fresh opportunities.
In essence, a seasoned business mentor is more than just a source of advice; they’re a trusted confidant and steadfast companion, offering unwavering support as you navigate the complexities of entrepreneurship. They will bring objectivity and a diverse array of life and business experiences to the table, along with candid and tailored guidance across the spectrum of challenges faced by CEOs, MDs, and business owners.
According to John Mattone, often described as the world’s top executive coach, a business mentoring relationship will generally include these characteristics:
– It is likely to be longer-term/ongoing and may last for a period of years; often evolving into a Non-Executive Director role.
– It involves informal sharing of information when the mentee needs support, strategic guidance, or specific tactical advice.
– Mentors are often more experienced versions of their mentee. they may have worked in the same industry, or even in the same company.
– The focus of business mentoring is development of the mentee’s business. That said, it can often overlap into their career and personal development, with the agenda largely set by the mentee.
My mentoring services
Are you a business owner, CEO, or a member of the senior executive team that’s running a business in a creative industry such as publishing, journalism, music, theatre, or PR? If so, are you considering finding a mentor?
My mentoring programmes provide an opportunity to share my knowledge and experience of running businesses from start-ups to established market leaders. Additionally, as a qualified and experienced executive coach, I’m able to work with my mentees on their leadership skills, as well as their broader professional development.
As well as my paid mentoring work. I’m proud to be a pro bono mentor on the Independent Publishers Guild (IPG) Mentor Scheme. Several of my mentoring roles have subsequently transitioned into Non-Executive Director, Chair or board advisor positions.
I’d be delighted to schedule an introductory chat about the benefits of mentoring and how I might share some of my business and leadership insights. If that would be of interest, please get in touch.