9 Reasons Your Scale-up Business May Benefit from Mentoring

If you’re a hardworking entrepreneur, you’re likely always connected – and feeling overstretched.

How do I know this? It’s simple: I’ve been there. I remember what it’s like to be constantly working to achieve your goals, to feel like everything is in motion – and that there’s always more to be done. When you step out for a moment to yourself, you should be able to rest assured that your business is still working, growing, and positioned to succeed.

I remember this feeling well. At the beginning of my business career, over 35 years ago, there were many things I learned through trial and error. In many of those moments, I wish that there had been experienced mentors to provide me with guidance and help me make the right decisions.

In fact, many of the world’s most successful entrepreneurs credit mentors who helped them make smart decisions for their success. Over 80% of CEOs, including Sir Richard Branson and Facebook’s Mark Zuckerberg, have been mentored in some capacity, based on an executive research survey conducted in 2013.

Over time, I found great mentors who helped me address some of the early challenges and pain points I faced. However, I don’t think that scale-up companies and corporate leaders benefit from struggling like I once did. That’s why I now offer mentoring services to help scale up businesses navigate marketing, digital, funding, strategy, and exits – as well as just about anything else that might possibly come up.

I have set up 6 different businesses in industries including management consultancy, sporting goods, corporate finance, agricultural chemicals, pharmaceutical trading, and digital marketing, and I am proud to be listed in the UK Entrepreneurs Top 100 list led by Richard Branson.

I’ve experienced both the ups and downs of running a business. I can help you make the tough decisions that many entrepreneurs face when growing a scale-up company, and I will be there to help you avoid and address issues before they turn into serious problems.

As a mentor, I work to help you craft your own journey to success, giving you what you need to build the business you’ve always dreamed of while focusing on your passion. I’ve provided mentoring to many scale-ups through Microsoft Ventures Accelerator and HRH Prince Andrew’s Pitch@Palace.

Here are the 9 major reasons I believe mentors can benefit – and even transform – businesses.

1. Mentorship Helps You Save Time and Money

Making the right decision the first time means you’ve saved both time and money – and likely gotten ahead of your competition.

2.  Mentoring Helps You Learn Faster – and Smarter

A great mentor will help you learn how to make tough business decisions fast – and provide you with the advice you need to keep moving your organisation forward.

3. Business Mentors Provide Access to their Networks

Well-connected business mentors can connect you to the right person at the right time, helping you achieve your goals as your business continues to grow.

4. Get Help Refining Your Strategy

Strategy is crucial to a scale-up business’s success. Business mentors will help you create a clear vision for your organisation and plan out how you can grow intelligently.

5. Improve Your Marketing

In today’s competitive landscape, marketing has never been more important – especially when it comes to the complex and challenging world of digital marketing. Mentorship can help you maximise your ad spend, find your target audience, and scale once you’ve found a sustainable, repeatable growth model.

6. Build Financial Acumen

Not all entrepreneurs have mastered their financial operations, especially early on. Your business mentor can help you navigate the financial challenges of scale-up businesses, including how to assess risk, manage your cashflow, and oversee your accounts.

7. Access Exclusive Experience and Knowledge

Not everything you need to know about running a scale-up business is published or easily accessible. Working with a business mentor is a great way – and sometimes the only way – to get access to an insider’s knowledge and experience.

8. Boost Your Emotional Intelligence

Emotional intelligence is key to success in almost every field. Mentorship is a great way to develop this skillset quickly – and protect you from making dangerous business decisions in the future.

9. Craft an Exit Strategy

A business mentor who has been through the process before can help you make a plan for what the future – and your exit – may look like. After building one successful scale-up company, many entrepreneurs move on to new projects, and a business mentor can help you target prospective buyers for your organisation and choose the right time to sell.

Contact your Regional Director of Boardroom Advisors

Written by: John Courtney

John is highly ranked in the Top 100 UK Entrepreneurs list by City AM and is winner of the Lifetime Achievement Award from techSPARK. He has been a Board Director himself for over 40 years and first started placing Non-Executive Directors over 25 years ago. John founded and ran seven of his own businesses including a Management Consultancy for 10 years, a Corporate Finance offering for 10 years and a mid-sized Digital Agency for another 10 years.