Business mentoring

If you already have plenty of business experience, you could consider offering your services as a mentor to other businesses. This can be a very rewarding way of passing on the benefits of your experience.

As a mentor, your role is to support, develop, stimulate and challenge your mentee, whether they're just starting up in business or are already established and seeking guidance.

You can mentor in a variety of ways, including online, face to face, by telephone, or as part of a discussion group. You can charge a fee for your services or offer free support.

What you'll need to become a business mentor

To mentor other business people effectively you need the right skills and experience. You should have:

• the ability to listen and empathise
• respect for other people's views
• experience of the problems faced by small businesses
• the ability to offer encouragement and sympathy
• a supportive, hands-off approach that allows others to make their own decisions
• a willingness to volunteer your time and skills

You should also have a good, broad understanding of business. Many small businesses look for mentors who have expertise in particular areas or functions, such as:

• finance
• sales and marketing
• public relations
• strategy and planning
• negotiation
• operations