Did you know a new small business is created in Australia every 100 seconds? Did you also know that approximately two thirds stop operating within 3 years?

Greg Hayes from Hayes Knight Accountants & Advisers told The Huffington Post Australia that cessation rates are largely due to a lack of strategic planning and training, as well as failure to ask for help. 

Meanwhile, data in the US shows that 70% of mentored businesses survive more than five years. The argument for finding a mentor to give your small business a better chance of success is compelling. However, it’s not always that easy to put into practice. 

Common problems finding a Business Coach and Mentor

Business coaching and mentoring was a lot easier a few decades ago. The main problem cited today is that people are time poor. The demands and pace of the digital world mean that potential mentors have precious little free time to mentor or, the ones that are happy to give their time are often already mentoring other people.

Another issue is that entrepreneurs and aspiring business owners don’t know how to broach the subject. Asking the question, “will you be my business coach or mentor?” can be awkward and often doesn’t get the desired result.  I find this particularly relevant when women are looking for a business coach or mentor.

Even though I will focus on women’s coaching and mentoring in this Blog, my tips are equally relevant for men.

So, how do female entrepreneurs go about getting the valuable business advice and support they need?

5 tips to help you find the right coaching or mentorship for you

Here are 5 top tips to set you on the right path to finding great coaching and mentorship for your business.

1. Don’t limit your options geographically

You don’t need to physically meet somebody to be able to learn from them. The internet allows us to connect with anybody, anywhere. It’s a practical way to have a coaching and mentoring relationship with people outside your immediate vicinity. Online, you can access business brains and leaders, all over the world, giving you extraordinary choice so you can find the perfect coach and mentor.

Zoom, Microsoft Teams, email, social media, WhatsApp, or the good old fashioned telephone - whatever communication method works best for you, makes coaching and mentoring across oceans and continents possible.

2. Don’t ask for a Coach or Mentor!

Let’s return to that question for a second: “will you be my coach or mentor?”  Some people don’t like that question. If you imagine someone saying it to you, what’s your initial gut reaction? Is it, “I’d love to but I have too much to do already?”

Simply put, that question implies a commitment that not everyone is going to want to make. However, if you ask somebody you admire what e-commerce platform they use and why, or what’s their number one tip for improving SEO, you’re much more likely to get a response.

Another approach could be to let them know that you admire what they have achieved in their business growth and you would like to learn from them.

In other words, ask direct questions about specific challenges and issues you may be having in your own business growth. They’re easier for busy, successful business people to answer.

3. Be a genuine fan and follower

If you admire someone and have your heart set on them coaching and mentoring you, you need to demonstrate your genuine appreciation of their work. Buy their books, watch them speak, follow their social media, engage with their content, even become a customer if relevant.

Not only will this show them that you’re serious about their advice, it will also provide you with plenty of tips through the consumption of their content. 

4. Be open to multiple relationships

Be open to the fact that you can learn all the time and not just from one person. Many heads are better than one, so consider multiple coaching and mentoring relationships? Learn from several female business coaches and males too. It’s about surrounding yourself with a support network of advisers and individuals whose opinions you respect and trust.

Don’t underestimate the guidance you can receive from your peers. They may have skills you want to develop, or perhaps they recently went through what you’re tackling right now. Often, they’re in a position similar to yours, so their tips and strategies are likely to be very relevant to you.

5. Join a networking group that provides peer coaching and mentoring

Behind Closed Doors was established because I recognised a serious gap in peer supported networking, coaching and mentoring, designed specifically for businesswomen.  We cater for businessmen too under our Bottom Line brand. Our unique model provides female entrepreneurs & business owners, female Executives and female Managers the opportunity to openly discuss leadership, business strategies, issues & challenges and support each other to attain greater professional and personal success. It’s the ideal way to gain women’s leadership development, personal and professional coaching and  mentoring support.

The peer women’s business networking, coaching and mentoring provided by Behind Closed Doors (BCD) delivers practical and valuable lessons, to help build your success. Female Entrepreneur Member, Sheree Sullivan says that through her years of attending BCD sessions, she has built the confidence to tackle difficult conversations head on. “Through the strong leadership of Donny Walford and my Facilitator Kylie Bishop – who both call a spade a spade, I have learnt to just act on difficult issues, I don’t overthink it, I just get on and do it.”

If help, support and guidance are what you’re after, there are many ways to get it. Whether you opt for a single, face-to-face coach and female mentor, a network of online advisers, or a networking group such as Behind Closed Doors; get the most out of your interactions by asking pertinent questions. Soak up the knowledge and experience offered, act on the information that resonates with you and park the advice that doesn’t feel right.

Remember to follow your own intuition. At the end of the day, it’s your business, so it’s important that you do, what’s right for you.  

Please share with me your experiences in business mentoring and coaching and what works for you.

Written by Donny Walford, Managing Director, behind closed doors

Women’s Business Coaching and Mentoring

Do you know that behind closed doors has a variety of high level, experienced, accomplished and entrepreneurial business men and women available as coaches and mentors?

You will be personally assigned a coach/mentor based on their experience, industry sector and how they best suit and can help you. We will even organise a complimentary 45 minute meeting, face to face or via Zoom, to ensure you can work with the coach or mentor of your choice.