Having a business mentor gave Goodson Imports NZ (GINZ) managing director a fresh perspective on his business that has proved invaluable.
When he first met business mentor, he identified that, in light of the very adverse market conditions, it would be good for his business to maintain the same levels of annual revenue and net proft for the following year. However, much to his surprise, the mentor suggested that he consider setting a 20% year-on-year net growth in revenue. And after completing a comprehensive plan for that year, the client ended up doubling the total revenue, achieving a 100% net growth for his business.
Strategic business planning is just one of the many areas the mentor advised on. The client also gained numerous best-practice techniques in strategy, sales, marketing, operational design, and people management skills – all of which have played a part in his business success.
the client knew what he wanted his business to achieve, but had yet to fully crystallise those ideas into clear business outcomes with specific time-frames with measurements. Peter and Nick worked on this first and then developed the individual key tactical and operational initiatives to further support the successful delivery of that strategy, together with some in-depth market, customer and economic analyses.
One of our mentors says, “In light of the tough economic conditions that have been impacting a lot of businesses in New Zealand, I felt what better way to contribute to my community than by putting some of my own time to good use by providing business expertise and management support to those that perhaps may not be able to afford to pay for it but still need it.”
Rotorua Chamber of Commerce facilitates the local agency for Business Mentors New Zealand. Our coordinator has seen some great success stories come out of the programme. “It’s great when clients work together with their mentor and form that essential trusting relationship.”