Requiring a Temp Director or a Mentor

sysprogrammer

Hi Everyone,

I find myself in need of some business advice across my companies.

I have 3companies that I am director of,
1) my 9-5 I.T. job
2) my Irish tours operation
3) lastly a kitchen appliance company.

While I am responsible for these companies, 2 of them are outside my core skill area and I would really like to talk to experts in Tourism and Service repair to stress test or preform a review of my operation.

Has anyone sought this kind of assistance before and how was your experience ?

I think what I am after is a genuine business owner with more experience than I, and I could name a few posters here who have this experience (you know who you are).

I am looking for a way to find the right mentor for this cross section of companies and someone who can help guide me in each sector, I will pay for this service so please no Govt or DCEB mentorship schemes.

Can the good folk of this forum perhaps point me in the right direction or offer some advice?

thanks for reading,
Sysprog


Too long/Didn't read : I require someone like pedronomix/hammertime/el rifle/dub tony to mentor me.

pedroeibar1

sysprogrammer wrote: »

...Can the good folk of this forum perhaps point me in the right direction or offer some advice? .........

The first thing is to realize that you get what you pay for.

The second thing is that a mentor is a sounding board, s/he is not there to make your decisions for you. A good one will push you, make you think, query your assumptions and make you do your homework. Having done all that s/he will give you a view without the rosy tinted glasses of the entrepreneur.

The third thing is that you might not like their input. So how ready are you to fight your corner or accept their advice? I once was a director of a hotel company and resigned because too frequently I was at odds with the management (my input on key issues was being ignored.) I was IMO a waste of space and resigned, also thinking that I did not want to be involved in what I considered would be a failure. (It was; a costly one.)

If you look at the role of an INED (Independent non-executive director) s/he turns up for meetings, has an input on company direction/strategy, rarely formulates it, but mainly monitors strategy that already has been decided, and ensures that the fiduciary duties are observed. Twelve days a year, minimum a grand a day, depending on size of company. As directors they have more onerous duties, but being a ‘mentor’ is not much different (e.g. ‘shadow director’) and takes considerably more time as you have to get ‘down and dirty’. Many mentors have no issue with that, they should/do enjoy it.

There has to be mutual respect, and a willingness to be involved, but a mentor is not a ‘minder’.

An option is to offer a percentage of the equity with smaller mentor fees.

Separate to your question, I see no synergies between your three operations - really diverse activities - and wonder (read worry) if you are spreading yourself too thinly and as a result 'failing' on all. Are you trying to do too much?

Bandara

I'd have no knowledge specific enough to be of assistance or to mentor you in industries such as them.

Sorry

terryhobdell

https://www.iodireland.ie/the-boardroom-centre try them they are around a long time and seem OK but yours is a strange mix.

sysprogrammer

thank you all for the replies

Pedroeibar: Really thank you for taking the time to detail out a very accurate description of my problem, I do believe INED is the way forward. I'd like someone to give the no nonsense review of my current operations.
In fact I think I will need two INED's, One an expert in Tourism and another for my Service/Repair company.

When you say I will have to learn to take onboard what they say, well you hit the nail on the head there.
I hope I am in the right space to take direction from others, it is a little daunting when it's your baby they are talking about, but to grow I need to listen, the core business is working fine, and the potential for even bigger business is there, I can see the growth, and I need a Dragon to help seize the opportunity.
Thanks again for your time Pedro.

@Bandara: doesn't have to be an all encompassing director. each of the companies require an expert review.

@TerryHobdell: yes, an eclectic mix of companies by circumstance rather than design, Hence why I need to draft in some fresh talent.
Thank you for the link to IoD, I never knew of them until now. I will take a look at their site in greater detail.

To the other members who have sent me pm's, thank you, I am going through the replies, probably this evening at this stage.

Well I am far more relieved today at the advice received, really a weight has been lifted, thank you all.

Sysprog