When you're running a business, you're expected to make difficult decisions, solve problems and somehow find time to plan for the future. All whilst trying to have a life, sleep and spend quality time with friends and family.
But who challenges your thinking? Who helps you see what you might be missing? Who is there to keep you on track?
This week was National Mentoring Day, an opportunity to raise awareness of the value of mentoring and encourage more people to benefit from having someone experienced in their corner.
To mark the occasion, I was in London with the National Business Mentoring Council (NBMC) and the Association of Business Mentors (ABM), sharing a live case study demonstrating the impact of business mentoring. I have worked with Debbie for 12 years and the results are significant.
The NBMC also launched its UK Business Mentoring: State of the Nation report, which included some interesting findings.
53% of business owners with a mentor expect to recruit in the next year, compared with 36% without one. Meanwhile, 65% of business leaders surveyed reported that mentoring had helped increase revenue, while 63% reported workforce growth.
Although these figures don't prove mentoring alone caused those results, they reinforce something I've witnessed repeatedly throughout my career.
Having an experienced, independent person in your corner can make a significant difference.
But mentoring isn't a one-size-fits-all solution. The challenges you face change as your business develops:
Years 0–3 – winning customers, managing cash flow and establishing a viable business
Years 3–6 – building a team, introducing systems, improving profitability and learning to delegate
Years 6–9 – developing leadership, strengthening strategy, reducing owner dependency and planning for the future
Of course, businesses develop at different speeds. I've worked with clients for many years, but our conversations and priorities evolve as their businesses grow. Good mentoring adapts to the challenges you're facing now.
Our ambition through the NBMC is to make quality, professional business mentoring accessible to business owners in every postcode across the UK.
Free mentoring plays an important role in this. It's a great first step towards experiencing the benefits of an independent perspective and understanding the additional value a professional, commercial mentor could bring.
If you're considering getting help via mentoring, I'd suggest looking for:
Experience – someone who understands the realities of running a business because they have run one
Professional standards – relevant training, qualifications and a recognised code of conduct
Evidence – testimonials and measurable results
Challenge – someone prepared to question your assumptions
Accountability – clear objectives and regular reviews to get results
Adaptability – support that evolves as you and your business develops
Paying doesn't guarantee results, but the right experience, structure and accountability can make the investment worthwhile.
If your business isn't delivering the growth, profitability or freedom you'd hoped for, what would change if you had the right person in your corner?
Read the NBMC State of the Nation report or explore the Association of Business Mentors to find out more.