Business mentor: Advisers fulfil important role

Q. I have just sold my successful small business and would like to use my experiences to help other business operators be successful. What are my options?

A. Sarah Trotman, director of Spring - A State of Mind For Business, replies:

The need for business advisers is becoming more recognised and a number of options are available to someone who wants to get more involved in this area.

In fact, people are talking about business advisory services as an emerging profession. The increasing importance of this function in New Zealand's predominantly small-business environment is evident in the establishment of an accreditation register for advisers.

The Government is certainly aware of how important advisers are to the economy. Under the Enterprise Development Grants scheme, offered by New Zealand Trade and Enterprise, businesses can apply for up to $3000 of support to cover the costs of business mentoring. The grants are offered on a 50:50 reimbursement basis.

So what are your options if you want to get involved? Options can be broken into two categories: volunteer-based services and chargeable services.

A very worthwhile organisation, always in need of good volunteer mentors, is Business in the Community. Its Business Mentor Programme is a great way for someone to assist business owners in a part-time advisory role. This valuable free mentoring service is offered to small businesses throughout the country.

As a volunteer mentor you are asked to give four hours a month to the programme. Clients are businesses who have been in operation for six months or more and so you are dealing with existing businesses. The mentoring experience provides exposure to real-life situations that also makes for a valuable learning experience.

You can register to be a mentor at www.businessmentor.org.nz. On registration you are required to give an overview of your experience and relevant references. You will then be interviewed by a representative of your local Business in the Community agency. If you want to earn a living from this type of work you can either do it on your own or buy a franchise of a proven system.

Going out on your own will require time to establish your credibility. It will require promoting your service in the marketplace directly to clients and to influences such as the economic development agencies, business associations and the Chambers of Commerce.

A variety of established business coaching franchise options is available and the quality of these programmes can vary. It is good to join a proven programme.

Examples of licensed/franchised models to choose from are Icon Business Solutions, Results Group and Action International.

A new business coaching system of particular interest is being offered by Business Lab. Developed in New Zealand, it sells a planning package called the Laboratory, which uses a simplified planning system based on project management to help business operators at all levels identify, develop and manage opportunity. You can find out more at www.businesslab.co.nz.

For more information, contact Sarah Trotman on 09 921-9318 or at sarah.trotman@spring.co.nz.

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* Answers are courtesy of Spring - A State of Mind for Business.

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