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Category:
Published: September 2007
Learn about the qualities that define great leaders and how you can become involved in Success Magazine's new mentoring program.
We at Success Magazine Ltd are establishing a mentoring program to help new entrepreneurs succeed in the business world. The daunting statistic that 90 % of all businesses fail in their first three years is not a very good success rate. Our mission is to assist businesses by linking them with a network of professionals including attorneys, accountants, bankers, public relations firms, insurance companies, investment companies, experienced business owners and professional consulting organizations. Each month we will be seeking new entrepreneurs who want to be part of our mentor program. We will hold seminars and independent mentoring consultations to help them get started and become successful.
Mentoring assists someone to help them achieve their goals. To be a mentor, you must be knowledgeable in your field, but more importantly you must be an inspirational leader. Leaders need to have the ability to inspire people to reach their desired goals and objectives in life and to find success. They must exude passion, purpose, openness and significance. The inspirational leader or mentor listens to the needs of the individual and uses that communication to help create the vision and mission of their company. The mentor must listen to the mentee's goals and objectives, and then set an action plan that coincides with those desires.
Initially, the mentor's stance is one of nurturing support, and helps the mentee develop a strong positive self-image and sense of self-worth. That confidence creates a strong foundation. The mentor then helps the mentee to set the goals and objectives of their company. Defining a detailed business plan, sales and market plan is the next critical step in establishing corporate goals. Once these goals and objectives are reviewed and improved upon, the expectations of these goals and objectives must be outlined for qualitative and quantitative review. What is the reason for the establishment of the business? What financial goals are expected within a certain time frame? Are the goals realistic? What has to be done to ensure the success of the plan? Financial resources, partnerships with other firms, market strategies, cash flow and time management all come into play. The mentor's role is to help the mentee define their sense of purpose, to encourage and inspire them, and to help them find the tools to meet that purpose.
Once the plan is set into motion, the mentor will maintain a close relationship, monitoring the achievements of the mentee, giving feedback on their progress, and to ensuring that the mentee is on track to sustain their vision. The mentor will help the mentee to grow, both from their successes and from their failures. This opportunity will help them to gain insight into the changes that are required to help them achieve their success.
Each month, the Executive Mentoring Committee will review the progress of each mentee, and establish helpful guidelines and recommendations for how the mentee can improve their bottom line, and develop a better method to for success.
If you are thinking of starting a new business and would benefit from assistance, please contact us at . If you are a business owner or executive who wishes to join our Executive Mentoring Committee, please contact us as well.
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