One of my clients has finally put her prices up after having a business finance mentoring session with me a few years ago. Raising her prices was one of my recommendations during that session, but it has to be the right time. The change has increased her confidence, as she recognises that her customers value her service, but it has also obviously increased her profits.

Having business finance mentoring can lessen the time it takes to be successful and the number of mistakes made along the way! Because of my years of experience and having worked with so many different businesses in those years, I’ve seen how people get it right – and wrong – and can pass that knowledge on to my clients.

As you prepare to reopen your business (some of you may have reopened already), it’s a great time to reassess your business and/or personal finance knowledge – or lack of – and do something about it.

Have you ever considered having a mentor? Perhaps you are unsure about what a business mentor can do for you? Or maybe you have been so busy with your business in the past that you haven’t had time to investigate. It could be that you think that it is just one more luxury you can’t afford. However, a business mentor can save you time and money. Questions that have been on your to-do list for ages can be ticked off that list through mentoring and you will benefit from someone with experience who can ensure that you stick to a plan of action.

Having said that, you need to do your research and make sure your mentor is right for you. You need to be able to trust your mentor and choose one whose strengths will best help you reach your goals. I have lots of experience in mentoring others and each mentee needed completely different assistance and support.

THE QUESTIONS YOU NEED TO ASK BEFORE YOU CHOOSE YOUR MENTOR

1. What types of people or businesses have you mentored?
2. Can I speak to anyone you are currently mentoring?
3. What is your area of expertise?
4. Can I ask you questions after the session?
5. Will the mentoring be as effective on the phone or by Zoom/Skype if it can’t be face to face?

Once you have an idea of what you need from your business mentor, do some research and list some possible mentors, then contact your shortlist. You will know when someone is right for you after a chat on the phone or meeting them for a coffee.

I always feel very privileged to be able to mentor people, as it shows a high level of trust in me. It is a two-way conversation; the mentee gains great value from the session but the mentor does too.

WHAT MY CLIENTS HAVE GOT OUT OF MENTORING

- A safe place to brainstorm their ideas
- Answers to their questions
- Clarity in their next steps
- Inspiration for business direction
- Increased knowledge in a specific subject area
- Knowing they are not alone as they move forward

Thinking of your business and you as a business owner, what would help you grow your business and make it flourish? Are there any areas where you feel some more knowledge, coaching or accountability could help you achieve your goals?

THE QUESTIONS YOU NEED TO ASK BEFORE YOU CHOOSE YOUR MENTOR

If you’re looking for an accountant or would benefit from some finance mentoring, then get in touch on 07711 805183 or anna@annagoodwinaccountancy.co.uk