Business Owners Leading By Example

As a business owner, one of things that you can do to help new business owners is leading by example. This means that you coach or mentor them to excel in business as they go through the startup process. Through your coaching or mentoring, the startup business owner should be able to strengthen areas in their business where they are weak. You can help them identity these areas and develop a plan of improvement.

Helping a new business owner through your own business example is a good way of finding a potential partner in business or sub-contractor who could make a good outsourcing resource. To help you understand what it means “leading by example”, I have created an acronym using the letters from L.E.A.D.I.N.G.:

• Listen for the needs of the startup business owner that you are mentoring
• Enter into an agreement for a specific amount of time for the mentoring process
• Acknowledge the success milestones that the startup business owner completes
• Discuss past, present and future plans that the startup business owner may have as part of their business plan
• Include key points that the startup business owner need to follow
• Narrow the list of topics that you will include in the mentoring process
• Give constructive feedback to the startup business owner that will challenge them to grow

These points should be helpful as you mentor business owners who are in the startup process. If you looking for tips on how to become a coach or mentor, the following video has key information that will help you understand how to lead by example through coaching/mentoring.