What You Should Know As an Entrepreneur before Embarking On International Business

After most businesses become successful in their area of trade and in a particular locale, the entrepreneur usually seeks the next challenge. The next challenge is usually to grow beyond the borders and become a global business. Not everyone can manage to get into international business as seamlessly as they should, and to be fair, not every business is meant to be a global business.

The challenge in growing beyond the borders then becomes: how you can leverage your skills and current expertise into being a success in the global arena? After all, you don’t want to remain the biggest fish in a small pond. You want to become a success by embracing international commerce and availing your goods or services to the rest of the world.

Below are a few pointers or tips that you should consider if you want to run a successful global business.

Develop a global mindset

Every entrepreneur has a particular temperament that has made them successful at what they do. At the same time, you have to be able to do some inner reflection to know that you have the right skill set and attitude to be able to operate on a global scale. You have to be able to differentiate how being a success in a local business differs, or is similar, from/to being a success on a global scale.

In other words, you need to have a global mindset or quickly learn how to think with a global mindset. But with all the different qualities and temperaments of successful global entrepreneurs and international expansion executives, they all have a few traits that are consistent. These include;

Self-awareness
Awareness and sensitivity to cross-cultural similarities and differences
An open and authentic attitude to the world
A need to engage with different cultures and do business under diverse conditions and circumstances
Being able to adapt quickly
An adventurous spirit with some international travel experience
Core business and life competencies

If you can genuinely say that you have these skills or that you will be ready to put in the work to achieve these skills, then you will most likely find a way to succeed in international business as well.

Is your business ready for the global arena?

The next most important step after determining that you are ready for international business is to determine whether your business is well placed for international trade. One of the best ways to do this is to find out if you will be relevant on a global scale.

It may be best to have organic growth and test a particular market before jumping in with both feet. This means that you should have an international mindset, but have a local mindset in the countries where you will be operating.

For example, if your business has a product line that includes 20 different products that have been a success in your country, you should realize that it may not be so in a foreign country. The people in the foreign country may be used to choosing between one or two products only.

Other considerations include;

Do you have enough production capacity that can be committed to the new international markets?
Does your company have the financial resources to support the growth and expansion into new markets including administrative capacity, marketing, legal, import/export, customer care, etc.?
Does your company have the skill and expertise to dedicate staff, time and resources to the global expansion plan? Or can you acquire the same?

Put in place the right team

After you ensure that your business is ready for expansion, then you will need a specialized team to ensure that your business will be a success in the global arena. Your most important goal, as you begin to put your global team together, should be to get the following skill sets as a priority:

An accountant with international credentials and experience: your accountant should especially have skills in accounting standards, taxation and currency trading. The accountant should be able to help you avoid overpaying taxes due to operating in two different jurisdictions and protect your cash flow from attrition due to international transactions including currency conversions.

A lawyer with international trade and commerce experience and with good networking skills: The lawyer will help you play hard ball when you need to while at the same time helping you remain within the confines of the law, as well as protecting you and your business from those who want to take advantage.

A savvy banker with international skills, who has put together, or used, different international financial vehicles: The banker can help you finance an export sale while protecting your investment and the banks at the same time, advise you on the risks of international transactions as well as protect you from them and help you structure competitive payment terms.

An expert in international logistics and experience in import-export and different government customs and tax regulations: A logistics expert is important in ensuring that goods move safely from the country of origin to the destination, negotiates with taxes and customs officials in foreign countries, organizes the safe shipping of goods while ensuring the correct goods are sent to the right place.

A seasoned logistics expert will help you use the path of least resistance while doing things legally. They should also minimize your risk and costs of doing international trade.

Other members of your international team will also be necessary, but the ones mentioned above will be crucial to get as soon as you are ready to begin planning your expansion.

Putting together such a team will definitely require a lot of resources and networking on your part, but if you succeed in putting together a good team, you will have more than halved most of the problems that would have been stumbling blocks and prevented you from succeeding in international business.

Author bio: Charlie Brown is a web developer and UI/UX specialist at http://remotedba.com/. He works at a Remote DBA Expert firm, having founded the same firm 9 years ago. He likes to share knowledge and points of view with other Oracle developers and consumers on platforms.

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Confidential Company Information – A Lesson from Game of Thrones!

Game of Thrones is arguably the biggest television series of all time with each season eagerly awaited. As such, it would have caused its broadcast network (HBO) some consternation when four brand new episodes were leaked online in early April before the episodes were due to air on TV. This raises the question of confidentiality and how many companies will need to protect their valuable confidential company information to remain competitive and successful in their industries.

General Options

The main options open to HBO in this scenario, and any employer in general, are as follows:

Learning points on how the company can prevent the same from happening in the future.
Commence an investigative process and consider possible disciplinary sanction up to and including dismissal;

Prevention Better than the Cure

Employees of HBO will no doubt have very robust confidentiality clauses in their employment contracts which prohibit them from disclosing any information relating to the company and/or their products. Such confidentiality clauses act as a deterrent and mean that employees are less likely to disclose confidential information or data. In the event that an employee does disclose confidential information then an employer will have a clear policy in place to justify taking disciplinary measures up to and including dismissal. Having signed agreements for confidentiality is absolutely key in these cases, as the most basic response from any employee would be to plead ignorance of any wrongdoing “I didn’t know that I couldn’t”, “Nobody told me” etc.

A strong signed agreement will negate any such response and clearly show that the employee signed their understanding of a confidentiality agreement. If such clauses are outlined in the Employee Handbook, then it is again hugely important that an employer gets signed understanding of the company handbook returned from each employee. Ensuring the most up to date IT and Confidentiality policies available are in place should also be paramount if security of information is key to the business. Reviewing these policies regularly and updating them in light of any technological or relevant advancement should also be a proactive approach taken by the company. Remaining successful in any business area should always involve being proactive to change, instead of being reactive once an issue has arose.

Another avenue which employers should be interested in exploring is issuing “reminders” to employees in advance of any upcoming area likely to have risk of confidentiality issue. A lot can be said for simply holding a meeting with employees to advise them of what lays ahead and how the company envisions risks coming from this. Reminding such employees of the agreements they have made and how serious the company would view any breach of this would go as far as any method in protecting against a disclosure of private information. It would also be a good approach during this meeting for the company to flex their muscle in advising how robust their IT and Confidentiality policies are, which may act as a deterrent to any employee considering a breach.

Disciplinary Procedures

With these preventative steps, and a fact finding investigation completed beforehand, the employer can easily proceed to disciplinary procedures against the employee. Depending on the scale of the confidentiality breach and circumstances involved, such disciplinary proceedings may be viewed as Gross Misconduct in which case the employee should be suspended in light of the formal disciplinary proceedings. Previous precedent of how the company has dealt with confidentiality breaches would also have to be considered and followed again when applicable or possible.

Resignations

Employees who have resigned and are working out their notice period, as well as those who are in the final days of a fixed term position are naturally those most likely to be involved in a secure information breach. While this may seem unfair to suggest, it is one of the most common queries we HR Consultants receive with regards to confidentiality and resignation.

For simple and obvious reasons such employees are the most “at risk” to be involved as they are in a period of transition and the trust involved in the employment relationship can potentially be affected by an employee having one foot out the door. One way to approach this potential could be to discuss such concern informally at the acceptance of resignation meeting, or if the employer has heard through the grape vine that an employee is likely to breach confidentiality, a short letter could be issued to them after an exit interview to remind them of the agreement they had made. As the employment agreement ends once the person leaves the company, such agreements can be a lot more difficult to pursue as a matter of civil law. Therefore, a short letter reminding the exiting employee of the agreement, but also suggesting legal proceedings would have to be taken against the person should a breach come to light after they have left, would also go a long way to protecting the valuable information of the company, and ensuring the trust involved in the employment relationship holds strong both during and after the employer/employee relationship.

In addition, an employer may consider exhausting any Garden Leave clauses whereby the employee would not be required to attend for work for the duration of their notice period. Garden leave allows an employer to ensure the employment relationship subsists, thus ensuring the confidentiality agreements remain actionable, whilst an employee is out of work and cannot cause any further damage.

If you have any queries in respect of the above article then please do not hesitate to contact our 24 Hour Advice Service on 01 855 50 50.

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How to Grow your Business: Financing vs. Bootstrapping

SMEs in the UK are borrowing more than ever to help startups and small businesses grow, but alternative means of finance are also gaining popularity.

This infographic looks at the most popular ways to finance a business in the UK, including a look at traditional financing vs. the “bootstrapping” method.

Created by County Finance Group.

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7 Ways To Kick Out Negative Effects Of Work Burnout From Your Life

At some time in their career, many people reach to the point of burnout with their jobs. While some consider quitting the job, it is not an option for many especially those who have no other job vacancy waiting for them. In order to identify work burnout before you start dealing with the problem, take a look at common symptoms that indicate the need to tackle a total burnout situation at workplace:

Emotional and physical fatigue
Decreasing health conditions
Frustrations
Reduced efficiency
Resentful behavior
Lack of motivation

All these are the most common symptoms among those who are experiencing burnout at jobs. If you can relate yourself to any or all of these symptoms, take an action to help yourself today before it gets too late. Following is a list of few measures that you can adopt to make things better at workplace:

Find Out The Root Cause

Diagnosis is always essential before you take any medications. Similarly, you cannot cure burnout at workplace unless you figure out the real reason behind the problems. Take help from colleagues at work who understand your situation or are experiencing the same for helping your figure out, and suggest appropriate measures to cope up with troubles if you are unable to identify the root cause on your own.

Take Vacation

Sometimes all you need to forget and resolve problems at work is a vacation. Hectic daily routines, tight project schedules and long meeting with the clients often become overwhelming and make you tired and frustrated. Take time out from your busy schedule, and plan a vacation with family or friends to unwind and refresh yourself. If you have no time or no finances to plan lavish vacations, visit a nearby location or simply book a resort in the nearby town to get some relaxing time away from work.

Stress Management Programs

Stress management programs are a taboo for some people with issues but definitely one of the best remedies to cure workplace burnout and relieve stress. While sometimes people feel more comfortable with taking help from counselors who can help an individual with particular issues, group counseling or stress management courses can also be an option to meet others with same problems and learn tricks for quick stress management.

Accept The Unchangeable

Change what is in your hands, and accept what you cannot change. This is one golden principle everybody who wants to avoid workplace conflicts and workload stress must follow. If you do not like your boss or any co-worker due to their working habits or any personal reason, realize that changing somebody’s behavior is beyond your ability. So,alter your behavior to make situation better at work instead of exhausting yourself out in efforts to change others.

Develop New Hobbies

Developing new hobbies is a great way to relax and refresh your mind when you get home from work. If nothing can be changed at work, try to spice up your personal life by adding new interests and hobbies so that you have something to look forward to in your daily tiring routines.

Figure Out When To Say No

Learning to say No should be developed from early life. For instance, in the colleges when you can’t do the project due to any circumstances you should realize the weaknesses say no to it and get help instead like essay writing help with essays. Likewise in companies, many employees fear bad performance reviews and therefore, develop a tendency to say yes to every task they are asked to do at work. While sometimes this fear can be true, the best option would be to politely inform your boss about your job description and how extra work might affect your health, performance and personal life if you really want to avoid stress.

Get A New Job

Winners never give up. However, if everything else fails, switch the job instead of losing your hope on a good career ahead. It is a bad idea to decide in a burst of anger or emotional moment to quit any job. Be wise, and take your time to make the decision by weighing pros and cons of quitting.

Maintaining good health is equally important as successful careers. So, make sure to adopt all the measures you can to improve your health, mood and personal life while pursuing a successful career at workplace.

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Tailored Payroll: Reward Your Staff Tax Free

This year you may consider rewarding your employees for their work. As an employer you can provide an employee with a small benefit with a value not exceeding €250 Tax Free. PAYE, PRSI and USC need not be applied to that benefit. This can only be given to an employee once in the income tax year. Where a benefit exceeds €250 in value, the full value of the benefit is liable to PAYE, PRSI and USC.

Monetary benefits e.g. cash, cheques, credit transfer etc.; do not qualify under the small benefit exemption. However, you can give a voucher up to the value of €250 which does qualify under the scheme. The small benefit exemption does not apply to the numerous values of benefits. It applies to a single benefit only.

As a Tailored Payroll client we keep you up to date on how you can save Tax in your payroll. Contact us today for a competitive price and you can continue to make savings on your payroll while remaining compliant. Our flexible service includes:

PAYE,PRSI and USC Calculations
Registration of Employer with Revenue
All employer Revenue submissions to include: P30’s,P45’s, P35, P60’s and registration of new employees
We provide email Payslips and P60s to employees
Creation of Bank file for payment to employees
No hidden costs

For more information about this business visit their website or email to payroll@tailoredpayroll.ie. Tailored Payroll is part of Use SBC as a channel initiative. If you want your business to be featured, click here.

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Boost Your Business Sales with Video Meetings

With video conferencing technologies that offer quick connections, along with systems that are simple to install and easy to use, there’s simply no reason why your business sales should suffer in this day and age. Take advantage of web based solutions like Blue Jeans to get this done. From getting quick feedback on design and changes to learning how to pull off the perfect sales meeting with video conferencing technology, Blue Jeans has you covered.

Brainstorm with Key People

To survive, a business must have continuous growth. One way to keep this going is to ensure open lines of communication among members of your top management committee. However, in view of recent economic downturns, spending too much on travel costs just to bring your people together might end up hurting, rather than helping along, your bottom line.

However, there’s no mistaking the business value of face to face interaction, an observation noted in an article published by the Tech Radar, dated May of last year. This is one reason for the rising demand for unified communication platforms in the market. Users, a great many of which are millennials entering the workforce, demand an integrated system, one that combines social media messaging, emails and instant messaging with web conferencing. It’s a dinosaur of a system, packing a lot of features and all of them useful, all of them designed to encourage collaboration and engagement.

Physically absent, mentally present

Foremost among these is the high definition video conferencing capability. Given the fine video quality possible, management teams no longer have to travel through miles just to get to a meeting. These meetings can now happen online, via video. Here, they can spend the next few hours brainstorming ideas involving marketing strategies, campaign initiatives, process updates and system modifications all without leaving the office, their state or country. With regular meetings, top management executives and managers now have more time to iron out problems in their sales-model or any other point of the sales funnel.

Rapid Feedback in Teams

Meetings provide one of the best venues for asking and giving feedback. But how do you go about making that happen when half of your team works on the east and the other half on the west? That’s another way video conferencing rides to the rescue of businesses.

An article from Mashable, published last 2011, notes how immediate feedback is one of the best advantages that users can get from video conferencing. That’s an accurate observation. Faster feedback means speedier turn-around times for plans, initiatives and product designs.

Collaboration determines solutions

In terms of improving your sales, allowing all team members to discuss the matter via video conferencing is convenient and cost-effective. Remote and offsite teams can also join in on the process. For instance, try presenting the company’s sales model to the teams. Then ask for feedback. Then keep those comments in mind when you work on the next set of changes for the plan. Repeat the process until you get it right—or until your sales improve.

Picking the technology that works best

Doing this by email and instant messaging, though possible, isn’t really that convenient. Too many people in a group could lead to cumbersome, bulky chat conversations that do nothing to generate value. Also, consider the time it takes to write than to talk about changes or explain minute modifications. Video is faster than email and text messaging in this regard.

There’s also the matter of body language and facial cues to consider. Since debates are going to be inevitable, it’s easier to gauge a coworker’s feelings involving a particular revision in video rather than in text. Words can sometimes come off as abrupt, terse, or worse, angry. Via video conferencing, it’s much easier for everyone to explain and discuss changes, without worrying about being misread or misunderstood.

Build Consumer Engagement with Videos

This is one way to keep track of your customers. Try to check up on your clients on a regular basis. Sending them promotional content through email, instant messaging channels and social media platforms are all earmarks of a good marketing plan.

However, checking up on them by way of live videos—and not just sending them pre-recorded ones—goes a long way to ensuring and sustaining brand recall. You could also ask them for feedback, comments and suggestions via video. Try sending them birthday and holiday greetings, too.

That’s taking your marketing and business model a notch further. With video conferencing, you’re securing consumer engagement. After all, people pay more attention to someone when they can see who it is they’re talking to, rather than to a letter, email or text.

Adapt video conferencing into your marketing plans, put these plans into practice and watch your sales figures climb.

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Small Business Lessons from Hillary Clinton’s BYOD Fiasco

Bring your own device (BYOD) policies have landed front row center in the headlines, though not in the most direct way. In this case, the fervor over Hillary Clinton’s emails has lead to a lot of discussion surrounding BYOD and the best practices companies and organizations should adopt. For those not up to date with the news, the controversy surrounds the former Secretary of State choosing to use a personal email server for all her emails whether they were personal or related to her governmental duties. It was later discovered that she deleted a good portion of her emails, prompting further investigation and more questions. So why pursue these actions regarding her emails? Clinton claims it was for convenience since she didn’t want to carry around multiple devices. She also claims she deleted certain emails out of concern for her privacy. Political opponents have disputed these claims, but that’s not the point of this article.

What most small businesses can take away from this fiasco are lessons about how best to adopt BYOD and the common mistakes to avoid.

Make BYOD Policies Clear and Concise

Any organization adopting a BYOD policy usually has to create a shift in the organization’s culture. That requires setting out policies that outline the proper use of personal devices while at work. Moving to a BYOD policy normally requires an adjustment period, and that time can be made much smoother should the adopted policy be clear and easy-to-understand. In the Clinton case, the exact policies of the State Department may have been hard to follow, leading to confusion over what was appropriate for proper business use. Organizations should be careful not to make this mistake. They need to determine if personal emails are appropriate to use for work purposes. They also need to explain how personal devices should be handled in the office or on the road. The easier it is to understand a BYOD policy, the fewer problems will arise.

Divide Personal Data From Business Data

When using a personal smartphone or tablet at work as part of a BYOD policy, it’s easy to combine data between someone’s personal and professional life. For reasons of security and privacy, an employee’s personal data should always be segregated from the business data on the device. This not only helps in avoiding confusion, but it ensures that the organization cannot access data considered to be private and sensitive. Dividing data also makes it easier for businesses to protect and archive data, a feature that seemed to be sorely lacking in the Clinton case. The segregation of data makes data management easier on the whole and allows for data containerization, allowing the device user to set who has access to what information. That would make deleting emails for privacy reasons unnecessary, which would have eliminated one of the more controversial points of the Clinton email mess.

Business Applications Should be Easy-to-Use

Many organizations adopt bring your own device as a way to help employees be more productive, but all those productivity gains mean little if the approved business applications make the work more difficult. Any new policy that complicates matters more than they were before is simply inviting more trouble. If acceptable business apps make little difference for an employee, they’ll more likely look for other ways to achieve better productivity, which could put data at risk. Companies should make sure any approved business apps work well with the employee’s preferred device, thereby avoiding conflict and more violated rules.

The lessons from the Hillary Clinton email scandal are a good way for organizations of any type to learn what some common BYOD mistakes are. A company may not have the same high profile as the State Department, but the security surrounding simple things like email is still of vital importance when using personal devices. The issues raised in the fiasco can serve as a good starting point for organizations to discuss what works with their own BYOD policies and what can change. With clearer rules designed to address the demands of employees, many of the problems encountered in the Clinton email situation can be avoided, and the benefits of BYOD can come to the forefront.

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Four Essential Ways for Small Businesses to Boost Sales through Digital Marketing

When it comes to increasing sales, nothing can compare to the power of the internet. Whether you have a local place of business or an online global presence, there is no better way to reach millions of people, literally overnight. Small businesses looking to boost sales should really investigate how to accomplish that through digital marketing. Here are four essential ways for small businesses to boost sales through digital marketing.

1) Go Mobile

Recent statistics indicate that more people shop from their mobile devices than they do from their home PCs. In fact, it is such a huge portion of the market that Google even changed their algorithms to better serve mobile searchers. If your site isn’t mobile friendly, now is the time to act. Make sure your online marketing is mobile friendly. Not only will you rank better with the search giant, but you will reach a significant portion of your market that you would have otherwise missed out on.

2) Online Discounts & Vouchers

Another great way to boost sales online through digital marketing is to advertise great savings with online discounts and vouchers not available at physical locations. People love a bargain and when they feel like they are getting a product at a saving they wouldn’t get at their local retailer, they will jump on the chance to save money. You can even find out which discounts and vouchers to offer with online tools that show in real time UK retail spending trends. This is perhaps the best way to boost sales based on buying trends.

3) Social Media

It has become almost cliché to hear marketers saying “We are social creatures.” But, in reality, that is exactly what we are. Marketing experts tell us that people will spend more money with someone they trust than from some unknown person or entity. In other words, they aren’t really spending money as much on your product as they are on you. If they trust you after having built a relationship through social media (i.e. Facebook, Twitter, LinkedIn) they may even pay more for your goods than they would at another shop. Why? Again, the trust factor. Social media is great for establishing trust and if you don’t employ this as part of your digital marketing, you are losing a huge portion of the buying public.

4) Pictures, Videos and Infographics

Finally, people want to see what they are buying. Use pictures, videos and infographics to display products and to show why a consumer should buy them. Many innovative ecommerce sites have gone to 360 panoramic views of products so that viewers can see all sides in one shot. This is especially important in the fashion industry as the shopper can see both the front and the back of a garment as opposed to a stock shot of that item in a box.

Again, whether you are looking to build foot traffic in a physical location or to increase online sales, there is nothing like the broad and rapid reach of the information superhighway, the internet. Use these four essential ways to boost sales and you will see just how quickly digital marketing campaigns can make a difference.

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Beware Internal Communication: Aggressive Emails Lead to Unfair Dismissal Claim

A recent determination by the Employment Appeals Tribunal has awarded an employee compensation of €12,500 after finding she was constructively dismissed from her employment. The decision was primarily based on aggressive emails and the fractious relationship the employee had with her General Manager. The case is a prime example of the importance of maintaining positive working relationships and communicating in a professional manner.

Schonfeld -v- West Wood Club Clontarf Limited (UD 1013/2013)

This case concerned an employee, who was the manager of the company’s “fitzone”, who went on maternity leave in May 2010. During the employee’s period of leave a new General Manager was appointed in September 2010. Prior to her return from leave, the employee was notified that her fitzone position no longer existed in isolation and that ultimately she would be required to undertake childcare work also. In addition, it was explained that the employee’s hours would need to “change dramatically”.

Foul Language and Unreasonable

The employee stated that when she returned to the work that she had issues with the General Manager’s reasonableness and that “the general manager constantly screamed at her while gesticulating with her hands in front of the claimant’s face, as well as raising her voice and using foul language… The general manager had screamed and gesticulated at the claimant … to the point that the claimant began to hyperventilate”. The employee stated that when she approached the General Manager to seek a way that they could work together on a proper level that the General Manager responded that this could never happen as the employee was “a f***ing drama queen”.

The General Manager admitted to the EAT that she had sent emails to the employee when in a frustrated state and that “some of the language used was inappropriate”.

Resigning without Lodging a Formal Grievance

The employee ultimately began to seek alternative employment but despite the lack of available job opportunities she resigned anyway. The employee did not lodge any formal grievances prior to resigning and this is worth noting as quite often this is fatal to a claim of constructive dismissal. This concept is similar to that of an employer dismissing an employee; unless the employer does so via internal disciplinary procedures then the employer is unlikely to be able to justify the dismissal. Similarly, if an employee resigns without exhausting the internal grievance procedure then they will find it difficult to justify a constructive dismissal claim. This can be seen in the EAT cases of Keogh -v- Green Isle Foods (UD516/2007) and Clifford -v- Maritrade Ltd (UD27/2000) where the EAT rejected the employee’s claims of constructive dismissal as they had not exhausted internal grievance processes prior to resigning and thus they had not exhausted all avenues.

However, this did not prove fatal to Schonfeld’s claim as the grievance procedure, due to the lack of a relevant HR manager, required her to lodge her grievance to her General Manager, the very same person she had the grievance with.

EAT Decision

The EAT determined that the employee had been constructively dismissed and awarded the employee €12,500 compensation. The EAT outlined that a significant factor in this decision was that “some of the emails sent by that manager to the claimant were aggressive and offensive. That style of communication was compounded by some of her verbal airings with her.”

Conclusion and Learning Points

This case demonstrates the importance of ensuring that all internal communications, written and verbal are of an appropriate and professional tone and nature, and that any performance issues with employees are dealt with in an objective and non-personal manner, preferably through face to face communication. It also demonstrates the importance of having a clear internal grievance, bullying and harassment policy in which employees can have faith in the integrity and independence of the process, especially in the instance that they need to make a complaint against an employee high up or at the top of the organisation.

Peninsula would recommend, based on the above, that employers consider the following questions in respect of their own businesses:

Have you got a clear Grievance process in place?
Are your employees aware of whom they can report a grievance, particularly where their grievance is against their line manager?
Have you got a bullying/harassment/dignity at work policy in place?
Have your managers received appropriate training in terms of people management?
Have you got a clear Email Policy in place?

If you have any questions in respect of the above article then please do not hesitate to contact Peninsula on 1890 252 923

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Small Business Mentoring: 9 Factors to Consider When Looking for the Right Mentor

To get ahead in life, everyone needs advice and help. Ask even the most successful individuals in the world how they got to where they are. Most likely, you will establish that they have at least one mentor who guided them along the way. In this post we’ll look at small business mentoring and the factors to take into account when looking for the perfect mentor.

Whether you are on the receiving or giving end of investment advice, energy, or time, it is extremely important to view mentoring for exactly what it is – a totally priceless gift. This is according to the CEO of Avention, a business information and sales enablement solutions provider based in Massachusetts.

Do you want a good mentor who will help you get to a higher level in both your personal and career life? Today, so many life coaches exist. So how do you separate the chuff from wheat? Here are nine factors you should consider when looking for an inspiring and incredible mentor:

Always know that praise is not necessarily part of the entire deal

Sadly, most people who claim to want a mentor only want strokes and attention. This is not the kind of constructive feedback that results in professional and personal growth. According to the CEO of Avention, if you study the lives of the best entrepreneurs, greatest athletes, as well as investors, they all enthusiastically accepted coaching and advice or had great mentors. He continues to add that, to him, those types of individuals, their curiosity, self-awareness and desire to grow and become better inspired them to seek mentors.

Do not entertain silence – remember silence breeds failure

Excellent mentors help you grow through open and frank conversations regardless of how hard they might be. For example, mentoring mentors provide constructive feedback repeatedly so that no employee ought to be surprised when time for a performance appraisal comes. Avention CEO says that typically, many people that are surprised by their own appraisals are most likely to be poor or weak managers.

Active empathy and listening builds relationships

One thing you should always know is that a relationship is exactly what maintains a mentor-mentee relationship. Once this relationship becomes obligatory, the utmost benefit to both individuals rapidly dissipates. According to Avention CEO, over time, relationships usually diminish because of lack of being true to each other.

Always opt for a mentor you admire and desire to emulate

One of the worst ideas when it comes to choosing a mentor is aligning yourself with an adviser all because of her or his title or for political gain. So you don’t have a wise individual who you admire? Well, the best place to start is hanging out in an incubator or industry events. Widen your pool of associations. Go to any form of venture capital gathering that you can manage. Use LinkedIn and try to gather and garner as many introductions and connections as possible.

Bluntness

Some call it forthrightness, which is agreeable. Your mentor should not act or talk like a politician. When you are in trouble, you need someone to give you strong and cutting blunt advice on exactly what you might not be doing correctly.

Additionally, your mentor should have the audacity to tell you everything like it is. If you notice that he or she cannot do this, then avoid him or her like a plague.

Choose a mentor who allows you to have a vision for your future

In addition to providing advice in the present, your mentor should also offer the required support and scaffolding to allow you to envision your future. Most often, it is very hard to envision the next phase of your life when working so hard in the present. Moreover, at times, after you have completed your PhD, it can be quite difficult to envision what your life will be like. The same applies to any level of education.

Choose a mentor of any sex, but the same sex is much better

Although it is highly preferred that you choose a mentor of the same sex, it is still okay to opt for a mentor of the opposite sex. Man-to-man mentorship, for instance, is brilliant because men can talk about personal issues that affect them without feeling weird. Unless your prospective mentor of the opposite sex boasts of the specific skills necessary for your mentorship, it is advisable to stick to one who is of the same sex. This will benefit you big time in the long run.

He or she should be totally honest

Honesty is one of the most important aspects your mentor should possess. Besides being honest as the mentee, ensure that your mentor is honest as well. It is highly advisable that he or she be more than frank on any issue. Your mentor should be bold to tell you when you are doing things the wrong way. Positive criticism is of utmost importance. It helps you grow and build your confidence. In the end, you become stronger.

He or she should be time efficient

Most, if not all, mentors hold very senior positions. Consequently, they are super busy. They are great at utilizing every single second of their days. Do you want to be efficient at managing time? Well, you need a mentor who is great at time management. Time efficient mentors will share with you the strategies needed to help you become better at managing time. In addition to efficiency at time management, you should look for some small underlying behaviors. Some behaviors, small as they are, might make such a huge difference between your failure and success.

That being said, your success is always your prerogative. You are the driver of your success. Do not sit and wait for a mentor to suggest action plans for you. Get out of your comfort zone and make excellent use of all resources at your disposal – your mentor included. This way, achieving success will be more than possible. There is no doubt about that.

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Charlie Brown is one of the contributors of a leading financial website. Talk to him today if you need help regarding national debt reviews.

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