Is SME mentoring different from micro business mentoring? In a word: yes!
And I want to tell you why.
I’m a Business Mentor who chooses to work with micro business owners… precisely because the support they need is unique.
When is SME Mentoring NOT SME Mentoring? When It’s Micro Business Mentoring
If you’re confused by what I have said, you’re not alone. Micro businesses often get lumped in with SMEs when it comes to advice, finance, and accessing government support schemes. This is one of my biggest bugbears, as SME-focused rules mean micro businesses often slip through the cracks.
In fact, a micro business employs nine people or fewer; and most are owned and run by just one person.
There are a whole lot of micro businesses in the UK, too who contribute millions to our economy. According to the Office for National Statistics, at the start of 2019 there were estimated to be 5.9 million private sector businesses in the UK.
A whopping 76% of which consisted of just one person!
Now tell me, don’t you think a micro business needs a different kind of support from an SME, which could employ up to 249 people?
“Is It Really A Business, When I Work For (And By) Myself?”
As a micro business mentor, I hear this question a lot.
It’s easy to feel that if you’re working from a room in your house, with limited costs and no wages to pay (apart from your own!), then you’re not really running a business.
You’re just keeping the bills paid and the roof over your head, that’s all.
Particularly if, like many freelancers and ‘solopreneurs’, your day-to-day work involves doing something you genuinely love.
But if you’re earning your own salary, you pay tax on it, and you regularly complete ‘business’ tasks (such as balancing your books, or paying someone to design your website) …
…then I’m sorry to break this to you, but you’ve got a business!
OK. So, How Is Micro Business Mentoring Different From SME Mentoring?
Put simply, if you’re running a micro business, then you ARE that business.
That means you’re in charge of everything, and everything you do counts.
Compare a micro business owner with the owner of an SME.
A small or medium sized business will often have teams of people in charge of different business functions.
Crucially, an SME also comes with more internal support. That allows more time and scope for planning, and more people to bounce new ideas off.
A great deal of the work I do with micro business owners involves offering an experienced business brain to pick, and an empathetic ear to listen.
Those things alone can be worth their weight in gold. For example, you could be struggling to attract new clients. However, you haven’t got a marketing team to take your ideas and make them happen.
Running those ideas past an experienced someone who’s not only been there and done that, but who understands your business. A professional who genuinely cares about your success, really can make all the difference.
Micro business owners also have many contrasting tasks to deal with. Think of accounts, IT, sales, marketing, and customer service, to name just a few!
Nobody can be a master of them all.
That’s why my mentoring focuses heavily on planning – which I refer to as the missing link between passion and profit! – helping micro business owners to reclaim their precious time.
(Who goes into business wanting to isolate themselves from their loved ones? Working what feels like all the hours under the sun for little return?)
Why Not Book A Breakthrough Session To Find Out More?
I designed my complimentary, half-hour Breakthrough Sessions specifically for micro business owners (and side-hustlers!) like you.
In a friendly conversation, we’ll talk through whatever’s holding you back. Then we will discover whether or not we’d be a good fit.
I’ll also help you understand how my personal brand of mentoring can lead you to the success – and the lifestyle – you dreamed of when you started out in business.