Do you need help with your business and are looking for a business coach in Melbourne? If so, you’ve landed on the right page. This post clarifies what a business mentor does, how much they cost and how mentoring can help with your business or company.
Would you like to develop your leadership skills and move your career forward? How about learning from someone who’s already achieved what you want? If that’s you, then a business mentoring partnership is for you.
And it doesn’t matter if you’re a startup, established business, service based, retail or online. More and more professionals are seeking mentoring to advance their careers. And a mentor isn’t just for business. The skills and advice given also helps both your personal and professional career.
It’s an opportunity to improve communication skills, expand your perspective and develop new ways of approaching situations.
What is a business mentor?
A business mentor is someone with more entrepreneurial experience than you, who’s achieved what you want and acts as a trusted partner — helping you navigate the complex world of business. Many mentors advise business owners in the fields of mindset, sales, marketing, communication and how to think more positively. These skills are usually specific to the job or role they’re teaching you. In other words, the mentor helps you develop specific skills to further develop your career, whether it’s a manager, teacher, consultant or strategist.
Here are some of the things a business mentor can do.
- Valuable advice: Mentors can offer specific, valuable insights into what it takes to get ahead in your career.
- Develop your skills: They identify the lacking skills and help develop the expertise needed for you to succeed.
- Improve communication skills: Your mentor will help you develop the specific communication skills needed to excel in your career.
- Expand your perspectives: Learn new ways of thinking and looking at things from a different angle.
- Help build your network: Your mentor can give insights on expanding your network and find professional contacts who can benefit your organisation.
- Advance your career: Through advice, development, networking and skills, a mentor helps you stay on track and focused on your career.
The difference between a mentor and a business coach.
This difference between a business coach and a mentor is a coach oversees and coaches you to run a better business. It’s a general approach that looks at the bigger picture of how a business is run. A mentor will teach you specific skills you need to further your career. The mentor will focus a lot on ‘you’. On the other hand, a coach will help restructure your business and focus a lot on your business. To make your business work, it’s expected for you to develop, outsource or hire the skills needed.
Due to the skills acquired running their businesses, it’s common for business coaches to be mentors too. However, it’s rare for a mentor to transition or give business coaching advice due to the lack of business knowledge.
Compared to a business coach, business mentor fees are much lower (and sometimes free, if within the same organisation). Also, a business coach can make a business much more money than mentor, hence the higher fees they charge.
If you’re looking for a business mentor in Melbourne, it’s important to ask yourself…do you want a mentor or a coach?
How much does a mentor cost?
Business mentoring averages around $80-$90 per session. However, don’t expect immediate or a quick ROI. Much time is spent on developing skills and making you into a better person for your job. In terms of ROI, mentoring is worth it if it’s along-term commitment of 6-12 months (or more).
In my opinion, it’s best to hire a business coach who can also mentor, as this way you’ll get best of both worlds and a much faster ROI. Sometimes a business coach can give you a piece of advice that’s worth millions to your company in just one session. And in most cases, business coaches give mentoring as part of their sessions and packages. So, it’s best you explore this option.
If you’re looking for a business mentor in Melbourne, a business coach — or both, then check out how to find the best business coach in Melbourne and see why Fantail Foundation is the perfect choice for you.
