KEY POINTS:
Q. What exactly is a business mentor and who pays for this scheme?
A. A business mentor is a volunteer who provides our small to medium-sized enterprise business clients with the benefit of their experience, skill and knowledge. They are people who have learned through experience in
the business world and have proven track records. Mentors also have the benefit of networks and contacts that are often invaluable. They do not do the work and are not there to supplant professional services, but rather to assist a client to the point where they can make informed decisions on what professional services may be appropriate. Business In The Community is a not-for-profit charitable trust, branded as Business Mentors NZ, with about 100 private sector sponsor patron companies that provide 60 per cent of our funding, with central Government providing the rest.
Q. What is the criteria for getting a mentor into your business and what do they do?
A. The business must have been operating for 12 months, must have a set of accounts, must be the principle source of income and employ fewer than 25 staff, although some allowances can be made regarding part-time staff. Companies that employ more than 25 staff can normally afford to purchase professional services. Mentors assist clients by undertaking an independent capability assessment of the business' position. They aim to ascertain an owner's or client's goals and objectives, and to build a relationship of mutual trust that allows a client to discuss all issues. Independent mentors can often be more subjective than an owner, can on occasion be the devil's advocate, and provide the benefit of a sounding board for concepts and ideas.
Q. What does it cost and what kind of people are mentors?
A. The services of the volunteer mentors are free. About 50 per cent are fully active in commercial roles, with the rest being retired or semi-retired. All join the organisation to support the principles of building the capability of the country's economic performance and to give some value back that benefits the community.
Q. What practical benefit would a mentor bring to my business? What if my business is unique?
A. The benefit of a mentor is their independence, proven range of skills and experience. Often clients have a perception as to their requirement that can vary from being accurate to wide of the mark. While businesses can be unique, from our range of mentor skills available across the country there is seldom a situation we cannot add value to. Mentors have the appropriate knowledge to assist. From our experience there is a significant need for SME businesses to be more efficient and productive in their operation, and in many cases good basic business principles are wanting. Financial reporting, processes and planning are often ineffective and key in addressing business potential.
Q. Could I become a mentor and how is a mentor selected?
A. A mentor needs to be an experienced business person with the wish to assist business owners improve their performance. They need good interpersonal skills and the right type of personality. Our professional development mentor sessions are focused on the key attributes we have developed over 18 years. The key is the commitment to assist businesses to improve their performance, generating wealth and employment for the wider benefit of the community. There is also the personal satisfaction the mentor is contributing to a programme that can make a difference in most cases. A mentor is selected based on the skills or assistance being asked for. The agency manager makes that decision based on the application process and discussion with the client. Personalities of the client and mentor have to be considered. Once the mentor appointed has conducted a capability assessment with the client, it can be ascertained if the match is appropriate. The key reason being that often a client's perception of their need is not always accurate. If this is the case a different mentor with the appropriate skills will then be appointed.
