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Find The Relevant Mentor For Your Business   

March 12 2018 l ndbs  
  

The legendary story is told about Mentor and Telemachus. In the Odyssey, Mentor (Greek: Μέντωρ, Méntōr; gen.: Μέντορος) was the son of Alcimus. In his old age Mentor was a friend of Odysseus who placed Mentor and Odysseus' foster-brother Fimaeus in charge of his son Telemachus, and of Odysseus' palace, when Odysseus left for the Trojan War.

Because of Mentor's relationship with Telemachus, the personal name Mentor has been adopted in English as a term meaning someone who imparts wisdom to and shares knowledge with a less experienced colleague.

The word Mentor evolved to mean trusted advisor, friend, teacher and wise person. History offers many examples of helpful mentoring relationships: Socrates and Plato, Hayden and Beethoven, Freud and Jung. Mentoring is a fundamental form of human development where one person invests time, energy and personal know-how in assisting the growth and ability of another person.

With the given background and references above any business owner will have a picture of how mentorship came to being, but knowing only is not enough as one has to decide whether to have a mentor or not. Mentorship is not pushed into someone but a person must see a need for it.

With good mentors many small businesses shouldn’t be going through difficulties, unfortunately the market is full of the so called mentors who have not undergone any training, who never had business to run and who have no interest in mentorship except to use it as opportunity to make money.  When entering into mentorship program the following should be taken into consideration:

As business Owner you have right to choose who should mentor you

Not everyone who offers to mentor you is relevant for your business, some make an offer after seeing your business potential to pay their invoice than its potential to grow, and after the payment that mentor can leave your business worse and broke than before. You have the right to say NO if the offer does not feel right. As a business owner you must do research in order to find the right mentor who will be relevant for your business. You can ask around or search online. Find someone who will add value and understand your challenges or the goals you want to achieve.  Even if the mentor is being allocated to you in an incubation program or by organisation, you have that right to agree to work with that person or not as any enforced mentorship will not produce desired results.

There must be that mutual understanding between you and your mentor for you to have a lasting working relationship. A mentor must have integrity and respect for mentees. To be safe you can ask for Mentor’s accreditation, affiliation, qualification, experience and references.

A Mentor should have a structured program

There are many general business consultants who call themselves mentors yet mentorship is not in the list of their services. They do not have registration process for their mentees, they do not have a program in place. Their mentorship has no beginning and has no ending, no time schedule and dates for the sessions. No agenda.

A mentor should have a program that outlines what mentee should expect over the period that they will have sessions. A Mentor must have files and numbers allocated and be able to give reports to mentees on the progress made. There must be baseline assessment to know what kind of intervention is needed in order to assist the mentee, there must be action plan, milestones, monitoring and evaluation.

A Mentor must be able to read financial statements and Business plan

Business success and growth is measured in many ways but the most outstanding is financial performance. Your mentor must have understanding of Cash Flow, Management Accounts, Balance Sheet and any other financial documents. Mentor must have ability to assist or help with business plan, proposals, presentations and any business documents that may be required by clients. Your mentor must not spoon feed but must be a source of information relevant to your business.

Find a Mentor, not role model

Someone you admire from a distance can be a role model than a mentor, a mentor must know who you are and the challenges you have in order to know how to assist you. There are those you can regard your mentor based on how you observe their way of doing things, but when it comes to business mentor aimed at helping your business move to the next level there must be a program in place and time line for your sessions. Your mentor can also be your role model but your role model may not be your mentor within the context of agreed program.

Mentorship is not limited to formal only, you can request a CEO of a company or someone who has experience within your business sector to mentor you but that person must agree to spend some time with you, there may not be reports but you can decide to be mentored through observations and apply whatever you observed in your business.

Look for a good value for your money from a mentor

Mentors have different prices that they charge, some charge per hour, some have a 6 months program, and some have 12 months program depending on your agreement, however, any mentorship should have time frame that you should be agreed upon. A mentor may be good but price should be taken into consideration as you do not want to find yourself committing to a fee that you may not be able to pay.

Be careful as there are some mentors who can take you to lawyers should you default on payment agreed. You need to negotiate on how you will pay in a way that will be convenient for your business. A good mentor who sees potential in your business can go as far as offering services Pro Bono knowing that once the business grow the fees will paid.

A good mentor will find ways to rescue your business should you fail to pay than take you to debt collectors.

Derrick Ndzavi, a Certified Business Advisor  (IBASA Member) , Certified Facilitator and Assessor

 
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What used to take 100 people to do at a work place can be achieved by one person operating a machine or a computer, that is what The Fourth Industrial revolution is all about. At the rate that technology is advancing drivers will not be hired to drive CEOs around as executives will just get in a car and it takes them to their next meeting while preparing their presentation in the back seat. Digital automation is creating era of human rest while machines do the job, however, governments will not have capacity to pay humans social grants to compensate loss of income. It is those individuals who will best position themselves to be in line with technological advancement who will fit into the revolution.

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Personal Branding Matters! 

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Make New Year Resolutions A Lifestyle Than Culture 

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Each year marks the beginning of new things to some and to others it marks the continuation of what was started a year ago.  It is time where everyone wants to be seen doing something, there are those looking for a new job, others new business opportunities and others for life partner.  And in all the endeavors many do not have it outlined and written with set target no wonder come March they have not moved an inch.

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Petrol price is going up and up and up, GDP figures are declining, Inflation is rising,  Most companies are closing down due to financial constraints, operating costs are swallowing the profit every month.  These factors have a potential of rising the blood pressure especially if you are a business owner caught in this economic turmoil.  Resilience and determination is needed coupled with positive attitude in order to sail through the turmoil.

Admit that you are facing challenges

Many entrepreneurs do not want to accept that they are faced with difficulties in their businesses because they don’t want people to laugh at them or see them struggling, instead of admitting that they are faced with challenges they want to act and spend as if everything is normal.  Once you admit the situation you are able take corrective measure.

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Starting a business can be hectic and requires much of your time and effort as the founder.  If your foundation is not laid well the whole business can crumble after taking shape.  Nothing about business should be overlooked as that may catch up with you later.  No one started a business knowing everything but made time to research and dig deeper in knowing what to start, when to start and where to start.  The following steps can assist in setting up a company that will grow in to a big conglomerate:


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CAPA: Taking Corrective And Preventive Action In Advancing Entrepreneurship 

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Delivered at University of Pretoria ABASA TUKS Youth Entrepreneurship Day

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Dear Entrepreneur... You are on your own

 

When you share your business idea with family and friends no one seems to understand what you are trying to say. 

When you share with those you think have been in business before you they tell you it is impossible. 

When you make it, everyone wants to be close to you in case they will need help in the next 24 hours.  When business blossom and grow they call you savvy.  When it starts to crumble they start to dig out your weaknesses trying to find a reason why the business failed. 

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You must learn to walk away not because you want others to realize your worth, but because you finally realize your own worth”. - Hunadi Yoliswa Makobela


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Transcend Your Business Idea From Creative Mode To Innovative Mode Seamlessly

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Social Media Advertising For Positive Outcome 


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Dress For Success Inside Out

  
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