Business owners do not need to be told twice that their business is their people, as well as consolidating assets is a sure-fire way to turn a business from good to great. Through mentoring, business owners can work on both of these traits to make their business even more amazing.
Luke Baylis, CEO and co-founder of SumoSalad, sees his role as a CEO as one that constantly involves mentoring.
“You're always trying to create clear focus and direction, and also give your team the empowerment and support to be able to execute your vision,” Luke says.
“Mentoring is a big part of that. It's not just mentoring in terms of leading by example, but it's also mentoring people through how they're going to get there, how you can leverage their talents and enthusiasm in the right way to be able to create an amazing business outcome.”
Luke shares his top two tips for how business owners can mentor their employees and get the greatest outcome:
1. Focus your efforts
While some business owners may mentor other business owners, Luke finds it best to focus his efforts within SumoSalad itself.
“I'm happy to always have a chat [with] people and give back wherever I possibly can, but I'm not actively on other people's boards,” he says.
“It's much better to focus on one thing and do it very well, so I've really [cut] back a lot of my other activities, and now I'm very focused on just [SumoSalad].”
2. Train employees to mentor for you
While business owners would like to complete all the tasks handed to them, sooner or later they will need to delegate responsibilities to trusted employees, and mentoring is no exception here.
“It's not me personally anymore, which is great because I can't clone myself a hundred times,” Luke explains.
By having additional employees to assist in the mentoring process, this can both free up time for business owners to focus on growth opportunities and to improve employee morale, which in turn funnels back to assisting growth opportunities.
“If you can teach them how to mentor and teach [employees] the skills to be able to go out there and support the franchisees in the most advantageous manner, that enables much greater scalability,” he says.
“The fundamental thing with getting an investor is, it's less about the money and more about the alignment in the leadership team and the CEO as well as the founders; the purpose for the business and also the future direction of the business," says Luke.
“Then also looking at what the investor brings to the table, it's not just about money; it's about mentoring, it's about coaching, it's about a much greater investment of intellectual property and resource.”