Professional Mentoring
Empowering growth through professional mentoring
What is Business Mentoring?
Business mentoring is a professional relationship where an experienced businessperson (the mentor) offers guidance, support, and advice to an entrepreneur, business owner, or leader (the mentee).
Business mentoring is broad in scope, aiming to help the mentee grow their business, managing the business better, and often support their wellbeing. This collaborative relationship addresses various aspects of business such as: business leadership; business strategy and planning; financial and operational management; sales and marketing strategies, and business exit strategies.
The ultimate goal is to accelerate the mentee’s business growth and personal development, delivering tangible ROI in areas such as profitability, valuation, lifestyle or on a particular business issue such as digital transformation, HR, sales and marketing, or operations. Business Mentors prioritise the overall success of the business, while still supporting the development of individuals within the organisation.
What is a Business Mentor?
A Business Mentor is an experienced professional who possesses a unique blend of three components:
- Extensive business experience – the heart of being a business mentor
- Practical knowledge of business theory and tools
- Strong coaching and mentoring skills
Find out more about our competency matrix here.
At the start of a mentoring relationship a Business Mentor may need to inject more insight from knowledge and experience to support learning and inspire action. As the relationship progresses and the clients develop their confidence and capability, the coaching skills are likely to become the dominant component, drawing answers from within the client and inspiring self-reliance.
Furthermore, Business Mentors are well-versed in relevant business theories and tools, and they are passionate about sharing this knowledge with their clients. They are able to support clients to practically apply these tools and theories, so that clients can use them independently in the future. This experience also positions them to support and deliver mentoring and coaching within workplaces to employees, to help support their professional development, and with it ,business growth.
The superpower of a Business Mentor is that they know when to add a droplet of experience to make a transformative difference to their mentee.
What is the difference between a Business Mentor, Coach and Consultant?
Business Coaching – Business coaching is structured and goal-oriented with coaches creating a safe space for clients to explore their strengths and areas for development, ultimately leading to improved performance and organisational success. A key component is the knowledge of theory, styles, models and tools alongside the ability to use these to support the development of others. Executive Coaching is a specialised form of coaching aimed at developing the leadership capabilities and performance of senior executives and organisational leaders to enhance their strategic thinking, decision-making skills, and overall effectiveness in their roles. A coach does not give advice or recommendations.
Business Consulting – Business consultants tend to be experts in their field, having built knowledge and/or experience, and use this to provide expert advice and guidance to businesses and those who manage and own them. The role of a Business consultant can involve analysing business processes, identifying areas for improvement, and suggesting strategic actions to enhance productivity, efficiency, and profitability. They may also assist in planning, decision-making, and problem-solving, although their involvement typically does not extend to the implementation of the recommended solutions. A consultant sets out clear recommendations and does not help the business own find their own solutions.
Business Mentoring – A business mentor is an individual with significant experience and expertise in a particular field who is committed to sharing their knowledge and skills to support the personal and professional development of their mentee. This relationship is characterised by guidance, encouragement, and the transfer of wisdom, aiming to foster growth and capability in the mentee. The key quality of a Mentor, therefore, is the experience and skills they possess, alongside the desire and ability to pass this onto others.
As outlined above in “What is a business mentor?” ABM members practice a combination of mentoring, coaching and consulting. Discover more about our member’s specialisms and services here.
How can working with an ABM Mentor benefit my business?
A business mentor is a professional who understands how to run and grow a business, they are able to mentor with empathy. Your mentor will have expertise in business, planning, management, productivity, strategy, managing a team, increasing company revenue and helping you to manage stress and overcome challenges.
One of the key roles of your business mentor is to help you take a step back and provide you with an external overview of your business and marketing strategies. Your business mentor helps you clarify your ideal future and how to achieve goals that can be transformational for your business. They support you in the development of your vision, values and purpose and help you plan appropriately. They sit by your side acting as your professional soundboard and listening ear, offering guidance when you most need it.
Discover more about the positive impact of working with a professional business mentor in our research.
Interested in joining the ABM?
Whether you are at the start of your business mentoring journey, or run an established mentoring business, ABM membership provides you with the network and tools to develop and grow your mentoring skills and business.