Consulting Young Entrepreneurs
As always we hope you and all your loved ones are healthy in this time.
Necessity is the catalyst for creativity and this time will born a generation of COVID-19 entrepreneurs. This is a special type of entrepreneur. An entrepreneur that amidst the biggest threat to humanity we have faced in well over a century these entrepreneurs are becoming super heroes. Business owners have found new ways to supply anything from food to beauty services.
We have seen some of the most creative entertainers and influencers spoil us with their comedy sketches and motivational quotes. However in this famous or infamous time we must ask ourselves what type of entrepreneur do we want to create or be. Even more importantly than that is what businesses are most likely to be sustainable. A new age of entrepreneurs that is socially concerned is more desired than ever.
Recent events such as Black Lives Matter have really propelled the need to show that your business is no longer only interested in profit but the welfare of society. Businesses can no longer say they champion equality or charitable work but have to show this ‘Show Me Don’t Tell Me’.
Nonetheless although many businesses will be born in this time period the unfortunate truth is many businesses may also fail. Some of the owners of these businesses will be young people particularly from disadvantaged backgrounds as they look to find an alternative solution to the imminent recession and thus unemployment. With this in consideration those who mentor and consult these young entrepreneurs must understand our influence in these situations. It is important that young entrepreneurs are open and seek advice from experienced or experts amongst everything else.
Additionally how we can help support these entrepreneurs from a psychological perspective.
Below is consideration for how Consulting with young entrepreneurs:
Consultants must skillfully respond to the young entrepreneurs implicit needs. Business owners should understand a consultant’s need to explore a problem before setting out to solve it and should realise that the definition of the most important problem may well shift as the diagnostics proceeds. Even the most impatient entrepreneurs are likely to agree that neither a solution to the wrong problem nor a solution that won’t be implemented is helpful.
Clients need a better understanding of what consulting assignments can accomplish. When clarity about purpose exists, both parties are more likely to handle the engagement process satisfactorily. Effective consultancy work on implementation problems requires a level of trust and cooperation that is developed gradually throughout the engagement.
Indeed, a frequent dilemma for experienced consultants is whether they should recommend what they know is right or what they know will be accepted.
For implementation to be truly effective, readiness and commitment to change must be developed, and young entrepreneurs must learn new ways of solving problems and habits to improve organizational performance. How well these goals are achieved depends on how well both parties understand and manage the process of the entire engagement.
From the beginning, an effective relationship becomes a collaborative search for acceptable answers to the young entrepreneurs real concerns. Ideally, each meeting involves two-way reporting on what has been done since the last contact and discussion of what both parties should do next. In this way a process of mutual influence develops, with natural shifts in agenda and focus as the project continues.
Consultants need to leave behind something of lasting value. This means not only enhancing clients’ ability to deal with immediate issues but also helping them learn methods needed to cope with future challenges.
Learning during projects is a two-way street. In every engagement, consultants should learn how to be more effective in designing and conducting projects. In the best relationships, each party explores the experience with the other in order to learn more from it.
At the charity where we have experience from Auditing to Entrepreneurship we enjoy consulting, mentoring and imparting knowledge on young entrepreneurs. If you desire that support please do email us at contact@betteringeducation. Equally if you would like to support these businesses in any way contact us on the above email address or go ahead and donate to us!
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