BUSINESS MENTORING IN                 NEW ZEALAND                  ALVIN SHARMA S9700121311/25/2011                       ...
AGENDA  What is a mentor?  Business Mentoring  Business Mentoring – NZ  Advantages of Business Mentoring  Setbacks – ...
What is Mentor?  A mentor is someone with more entrepreneurial     business experience than you who serves as a trusted  ...
MENTORING VS COACHING                            MENTOR                         COACH SELECTION           Protégé picks me...
Business Mentoring  Most business owners have someone they talk to on a     regular basis to help them make decisions, su...
Business Mentoring - NZ  Business Mentoring in New Zealand         is provided     through Business Mentoring New Zealand...
Business Mentoring - NZ  BMNZ volunteer mentors come from a diverse   range of cultures and fields including:        sal...
11/25/2011             SOURCE: BUSINESS MENTORS NZ ANNUAL REPORT 2010   8
Business Mentoring - NZ  BMNZ mentors are passionate committed individuals     who understand New Zealand business and wa...
Business Mentoring - NZ  Understand the most important aspect of                gaining     knowledge and experience is h...
Business Mentoring - NZ Applying for the process is as follows:  Complete the on line application form  The application ...
Business Mentoring - NZ     Client Eligibility     Business Mentors provides mentoring to businesses that     are part of ...
Business Mentoring - NZ The criteria for businesses to participate are:  The business has a minimum of 12 months trading ...
11/25/2011             SOURCE: BUSINESS MENTORS NZ ANNUAL REPORT 2010   14
Advantages of Business Mentoring  Peace of mind,  Increased confidence,  A fresh prospective,  Inspiration/ sounding b...
Advantages of Business Mentoring  Set new goals and achieve better results.  Successful mentoring depends on the commitm...
Setbacks – Business Mentoring  Depending on the Business Mentor which you are     associated with, there is a possibility...
Pacific Islands Business Mentoring  Initiated by Pacific Islands Private Sector Organization     (PIPSO)  Expected      ...
Pacific Islands Business Mentoring  The full rollout programme is:  A team of 5 business mentors from NZ will visit each...
Pacific Islands Business Mentoring    Objectives  To strengthen business management and empower     Pacific Businesses to...
Pacific Islands Business Mentoring    KPI’s  Increase staff numbers  Increase turnover of each business  Increase expor...
Success Stories  Cafe/Restaurant – Tonga  A cafe/restaurant business situated in Tonga, which   caters for tourism, appli...
Success Stories  The owners and the mentor then decided on an action plan     involving stopping theft, revising the menu...
Success Stories   Aluminum window and door manufacturing   business – Samoa  They were looking for ways to improve their ...
Success Stories  The mentor visited the business and discovered that the     financial quoting model they were using was ...
Success Stories  The impact of this was that the business had lost about     $300K over the last 4 years, and once the pr...
Business Mentoring – Other Countries  Scotland  Luxemburg  Canada  Australia  USA11/25/2011                          ...
Conclusion  Business Mentoring in NZ differs from similar     processes in other countries.  It is an initiative by the ...
Conclusion  It is free!  The business owner needs to ensure that he/she remains in     charge during the mentoring proce...
Conclusion  Businesses in Fiji/ Government of Fiji could formally     request BMNZ to assist us in setting up small to   ...
REFERENCES             www.businessmentors.org.nz             www.nzte.govt.nz             www.actioncoachbusinesscoaching...
QUESTIONS11/25/2011               32
Upcoming SlideShare
Loading in …5
×

Business mentoring in new zealand

803 views

Published on

Business Mentoring in New Zealand

Published in: Business, Travel
  • Be the first to comment

  • Be the first to like this

Business mentoring in new zealand

  1. 1. BUSINESS MENTORING IN NEW ZEALAND ALVIN SHARMA S9700121311/25/2011 1
  2. 2. AGENDA  What is a mentor?  Business Mentoring  Business Mentoring – NZ  Advantages of Business Mentoring  Setbacks – Business Mentoring  Pacific Islands Business Mentoring  Success Stories  Business Mentoring – Other Countries  Conclusion11/25/2011 2
  3. 3. What is Mentor?  A mentor is someone with more entrepreneurial business experience than you who serves as a trusted confidante over an extended period of time, usually free of charge.  He/ She is selected by the protégé and is older than him/her.11/25/2011 3
  4. 4. MENTORING VS COACHING MENTOR COACH SELECTION Protégé picks mentor Coach selects team member BEHAVIOUR Biased in your favour Impartial, focused on improvement in behaviour FOCUS Individual Performance ROLE Facilitator with no Specific agenda agenda RELATIONSHIP Self Selecting Comes with the job SOURCE OF Perceived value Position INFLUENCE PERSONAL RETURNS Affirmation/ learning Teamwork/ performance ARENA Life Task related SUMMARY Has a deep personal Develops specific skills for interest–who cares about the task, challenges and you and your long-term performance expectations at development work11/25/2011 4
  5. 5. Business Mentoring  Most business owners have someone they talk to on a regular basis to help them make decisions, such as:  Friends and relatives you meet socially,  Other business owners in a similar industry,  Business associations and membership organizations,  Industry associations and specialist groups,  High-profile entrepreneurs,  Coaches, mentors, professional advisers, accountants,  Professional directors.11/25/2011 5
  6. 6. Business Mentoring - NZ  Business Mentoring in New Zealand is provided through Business Mentoring New Zealand – a not for profit organization funded by the NZ Government.  Has a current pool of over 1,600 volunteer mentors nationwide  BMNZ mentors are proven successful business people – all their mentors are vetted and reference checked before being accepted into the mentoring service.11/25/2011 6
  7. 7. Business Mentoring - NZ  BMNZ volunteer mentors come from a diverse range of cultures and fields including:  sales and marketing  general management  finance and accounting  administration  manufacturing, production and distribution  human resources  legal  international trade and export  information technology, and  not-for-profit experience.11/25/2011 7
  8. 8. 11/25/2011 SOURCE: BUSINESS MENTORS NZ ANNUAL REPORT 2010 8
  9. 9. Business Mentoring - NZ  BMNZ mentors are passionate committed individuals who understand New Zealand business and want to see their communities prosper and grow.  Their mentors know first-hand what it feels like to struggle, take risks and survive.11/25/2011 9
  10. 10. Business Mentoring - NZ  Understand the most important aspect of gaining knowledge and experience is having the opportunity to share it with others to help their learning experience.  BMNZ takes care of the privacy issue as follows in the contract: “The privacy and confidentiality of our clients and their businesses is paramount. Before a mentor can be assigned a client, they must agree to the terms and conditions of operation within our comprehensive Mentor Commitment Contract”.11/25/2011 10
  11. 11. Business Mentoring - NZ Applying for the process is as follows:  Complete the on line application form  The application will be directed to the nearest agent (usually the Chamber of Commerce)  The co-ordinator will match the applicant with a mentor who is well suited to its specific business circumstances and requirements  The coordinator will then advise the applicant of the mentor matched to its circumstances along with a time for them to meet  The term of the applicant’s relationship with a mentor is 12 months.11/25/2011 11
  12. 12. Business Mentoring - NZ Client Eligibility Business Mentors provides mentoring to businesses that are part of the following sectors of the economy:  Tourism  Eco Tourism  Agriculture  Exports  Import Substitution  Horticulture  Marine Industries  Service Industries  Manufacturing11/25/2011 12
  13. 13. Business Mentoring - NZ The criteria for businesses to participate are:  The business has a minimum of 12 months trading history,  The applicant is the business owner  The Business owner commits to a minimum 12 months participation  The business owner commits to respond to satisfaction and outcome surveys11/25/2011 13
  14. 14. 11/25/2011 SOURCE: BUSINESS MENTORS NZ ANNUAL REPORT 2010 14
  15. 15. Advantages of Business Mentoring  Peace of mind,  Increased confidence,  A fresh prospective,  Inspiration/ sounding board to bounce ideas off for growing your business,  Assistance to implement improvements,  An empathetic person to listen to the challenges and difficulties you face,11/25/2011 15
  16. 16. Advantages of Business Mentoring  Set new goals and achieve better results.  Successful mentoring depends on the commitment you make to the mentoring relationship!  Independent, impartial advice.  IT IS FREE!11/25/2011 16
  17. 17. Setbacks – Business Mentoring  Depending on the Business Mentor which you are associated with, there is a possibility that your ideas may be overshadowed by that of the mentor in guise of experience.  The vision and soul of the company when it is up and running may not be yours.  Running a corporate office is different than that of running your own office. Some decisions in running your own business is purely strategic rather than financial.11/25/2011 17
  18. 18. Pacific Islands Business Mentoring  Initiated by Pacific Islands Private Sector Organization (PIPSO)  Expected to increase business efficiency and capability, and to contribute to growth in the economies of the countries participating in the programme.  The New Zealand Aid Programme agreed to fund the PBMP such that it could be established in 11 countries over a three year period, which started in 2010.11/25/2011 18
  19. 19. Pacific Islands Business Mentoring  The full rollout programme is:  A team of 5 business mentors from NZ will visit each country for a 1 week period twice each year, during which time each mentor will assist four businesses.11/25/2011 19
  20. 20. Pacific Islands Business Mentoring Objectives  To strengthen business management and empower Pacific Businesses to participate competitively in both the local and international economies.  To identify and train local mentors to be effective and to ensure sustainability and ownership of the programme.11/25/2011 20
  21. 21. Pacific Islands Business Mentoring KPI’s  Increase staff numbers  Increase turnover of each business  Increase export sales for those businesses who are exporters  Increase the use of business plans, marketing plans and financial information  Achieve high levels of client company satisfaction11/25/2011 21
  22. 22. Success Stories Cafe/Restaurant – Tonga  A cafe/restaurant business situated in Tonga, which caters for tourism, applied for a mentor to assist in the development of a good financial system and to assist in improving the marketing of their business,  During the mentors first visit it became clear that the cafe was running at a loss and there was no ready explanation as to why this was happening.11/25/2011 22
  23. 23. Success Stories  The owners and the mentor then decided on an action plan involving stopping theft, revising the menu pricing, and looking for extra patronage,  Now, three months later, the owners are reporting an increase in revenue, profits and customer numbers. The owners said “The most useful part of the mentoring experience was to be able to talk to someone about our business, who actually understands and is able to offer real advice. We were very, very impressed with the knowledge of our mentor and very, very grateful we had a chance to meet with him”11/25/2011 23
  24. 24. Success Stories Aluminum window and door manufacturing business – Samoa  They were looking for ways to improve their financial management, business planning and human resource management,  They had been in business for about five years and employed four staff and had a healthy annual turnover of about $1million. However, profitability had been poor for several years.11/25/2011 24
  25. 25. Success Stories  The mentor visited the business and discovered that the financial quoting model they were using was based on a model used in a franchise system overseas.  The mentor discovered that the system, when used for producing quotes, was not including the cost of the glass required for the windows as for some reason this cost had been zero rated.  A test quoting exercise was undertaken which revealed that quotes for jobs which included glass, were indicating a total job cost of between 20% - 30% under the actual cost of the materials used.11/25/2011 25
  26. 26. Success Stories  The impact of this was that the business had lost about $300K over the last 4 years, and once the problem was corrected the business profitability was restored,  The mentor also helped in finding new business opportunities for the company in excess of $1 million against international competition, with the company owner saying: “My mentor improved my knowledge of running and sustaining my business. He advised on negotiating and tendering for new business and my company was awarded the contract – thanks to my mentor”11/25/2011 26
  27. 27. Business Mentoring – Other Countries  Scotland  Luxemburg  Canada  Australia  USA11/25/2011 27
  28. 28. Conclusion  Business Mentoring in NZ differs from similar processes in other countries.  It is an initiative by the NZ Government and is a role- model of how such a process assists in setting up and growing a small to medium level businesses.  The advice comes from reputable people who have ‘been there – done that’ and are highly experienced.  There are immense benefits to a new business owner from the NZ Business Mentoring process.11/25/2011 28
  29. 29. Conclusion  It is free!  The business owner needs to ensure that he/she remains in charge during the mentoring process. That is, it is his/ her business and the soul of the business must remain with him/ her.  The Pacific Island Countries have a lot to gain from this process which has a huge potential to increase their economic growth and create more jobs.  Compared to NZ, the economies of the Pacific Island Countries, even Fiji & PNG are under-developed.11/25/2011 29
  30. 30. Conclusion  Businesses in Fiji/ Government of Fiji could formally request BMNZ to assist us in setting up small to medium businesses here.  This will complement and take the load off Business Incubation Fiji – the Government Body which is currently carrying out the same process on a smaller scale.  BIF assists sugar cane farmers, in particular, to diversify planting of cash crops, which generates income for them, once every 3 months.11/25/2011 30
  31. 31. REFERENCES www.businessmentors.org.nz www.nzte.govt.nz www.actioncoachbusinesscoaching.co.nz www.plato.org.nz www.businessmentorspacific.org.nz www.samoachamber.ws www.pacifictradeinvest.com www.ncsmed.org.fj 2010 Business Mentors New Zealand Annual Report11/25/2011 31
  32. 32. QUESTIONS11/25/2011 32

×