7 Ways a Mentor Can Increase Your Organisation's Success

If looking to expand your business, you must first be prepared to meet the challenges of scaling your company head-on. These preparations include researching your competitors, increasing your facilities, focusing on revenue and weighing your risks. All of these aspects are difficult to navigate, and it's more often than not, we find ourselves reaching out for experts advice before we take the next step.

Mentorship is essential for any business to thrive

Similar to how students undergo a mentorship for academic activities, researching, networking and discovering opportunities, a workplace can take advantage of a business mentor who can assist in raising the bottom line when it comes to your company's growth.

It is both cost-efficient and highly effective to promote employee development and grow diverse growth strategies. Enlisting in a mentorship program not only lets you take the next step but allows an unbiased view of your situation. So whether your business is struggling, growing or just starting, you'll be gifted with solutions and further planning to keep evolving. That is why many corporate spaces engage in a mentoring service before making a big decision, be it via professional business coaching and mentoring services or even an informal chat for a different perspective.

To see if enlisting in a mentorship program is the right move for your business - let's discuss how a mentoring service can benefit the workplace. 

Seven ways a mentoring service can grow your business

Fosters a positive work culture

The work culture is often the biggest draw when looking for new highs and can decide for existing and potential employees. Having a positive work culture will lead to less employee turnover and a better overall environment. A mentor can be brought in to foster cooperation and explore any issues employees have in the workplace. The sense of job security and empowerment that mentorship provides can also boost employees morale and quality of work.

Opportunity to share knowledge

Companies can often fall behind due to a lack of innovation and willingness to change. Mentorship can provide a safe place for juniors or newcomers to explore and play with new ideas, keeping your workplace on the cutting edge of advancement. The pairing of junior employees with more experienced colleagues can also encourage teamwork and open exchange of ideas.

Help to define improvement

With an objective perspective, a mentor can help detect your shortcomings and areas to improve on. Commonly, we get complacent with success, so it never hurts to bring in an experienced eye to test your strategies and compare your competitor's progress. This fresh, unbiased opinion is what makes mentoring so invaluable for a growing business.

Building your network

With years of experience, business mentors can often introduce you to new audiences and markets you may not have considered. In addition, a good mentor will connect you with the people who can help in your success. For example, if you need an investor or contractor, your mentor can arrange a meeting with someone they've worked with before.

Diversity in leadership

Mentoring can improve confidence and promote equal opportunities within your organisation. Through highlighting the diverse perspectives in leadership, a mentor can help you appreciate and utilise ideas from your employees of various backgrounds.

Use of professional knowledge to improve your services and skills

Even if you have years of experience in your business field, mentors benefit from working across multiple companies and industries. Mentorship creates the opportunity for you to benefit from this experience. From areas of focus such as planning, performance and productivity - you can grow your business to your expectations. 

Ensure a long term development

A successful mentoring program creates a valuable long-term mentor-mentee relationship, as you never really stop learning. In addition, by creating short term and tailored goals, you can fully appreciate and evaluate the program's effectiveness before processing with the next.

Is joining a business coaching and mentoring program the right approach?

When in a business coaching and mentoring program, you are offered guidance from someone with a wide range of problem-solving experience, no matter how tough or unique the problem is. In addition, these programs also give additional offerings like free consulting, business health checks and even provide business grants to achieve the client's goals. Therefore, joining a business coaching and mentoring program at the right time can be crucial for carrying out your business's next steps.

If you're based in Melbourne, you can book a consult with Ernstver Consulting today - and take advantage of their decade of experience in business growth.