Once in a while everyone at some point in their life seeks some guidance in their lives, I remember a few years back when I was stuck at a problem in my internship, I was struggling for many days and eventually, I reached out to my mentor. After we talked for an hour, she understood my problems and solved all those queries. I was so relieved and from the next day I could see the benefits of sharing my problems with my mentor, I was productive and efficient and all of my work was completed in the given time.
So, this was my experience but now let’s see how a business mentor transforms your business.
The Business Model is Enhanced
In most cases, a mentor holds decades of experience in an industry, or at least they have a diverse range of practical knowledge. This means they can scrutinize the problems, and see the positives and the negatives of your business model, that you can’t see yet! Now as you are in the leadership position, it would be natural for your to defend your ideas, and strategies because you have taken efforts for it but trust your business mentor when she adds constructive criticism with her guidance. After you work on that you are going to see some significant changes in the results that you were getting before.
Mentoring is a Two-Way Street
Mentorship in business is not just for enhancing the business model, or creating strategies for better output but is also about establishing a mutual bond between a mentor and mentee. I believe as a business mentor you would definitely guide, and encourage the employees and the leaders and in due course, you will realize that you have gained a fresh perspective, and have learned new skills, but how? By listening and understanding, working with them on different problems. For your mentees, it is a golden opportunity to rethink, unlearn and revise and for you, it is to help them achieve their goals and help them align with their actions. As a result, you both have established a mutual relationship where both of you can ease the process of sharing and gaining new insights every day.
Helps in Expanding Network
Do you know business mentors have valuable assets? That’s a diverse pool of networks, I mean you name industry, and you will surely find a prodigy in your mentor’s network. These experts could be clients, contractors, organizations or investors. You have got it all. Make sure that you listen carefully to your mentor when they talk about it, you will have a strong team of people in no time.
Growth, Happiness, and Retention of Employee
I have been talking about how mentors could help grow a business but let’s also talk about how employees can get benefit from the business mentor.
According to Gartner five year study (2006) 25% of employees who got themselves enrolled in a mentorship program had a significant salary increment and here comes the interesting part - the employee retention rate was 22% higher!
You see mentorship in business not only benefits one or two people but also the employees working there. A mentor can easily juggle the problems of the employees and take care of all the internal challenges which are not possible for the organization to solve.
As mentors take care of all those aspects, naturally employees are happy, productive, and always ready to lead.
Today there are different types of business mentoring models that an employee utilize wisely.
Adds Advantages to Business
Fostering a mentorship culture within a company should be a top focus. Mentoring, on the other hand, must be more than an afterthought or an add-on activity to achieve this; it must be at the center of any organization's training, development, and learning strategy.
We all are living in a fortunate era where mentor culture is been encouraged and transformed every day, the best thing everyone understands the importance of this.
Mentorship in business is beneficial not just for developing knowledge and abilities in the workplace, but also for providing employee socialization, increased engagement, and the fusion of relationships across the organization.
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