Keeping It Personalized: Consulting, Coaching & Mentoring for Microentrepreneurs

There is little that can take the place of one-on-one technical assistance for aspiring entrepreneurs. That's why most microenterprise programs make great efforts to offer it – whether in association with training or financing, or on its own. No matter how sterling a training course, most entrepreneurs seek individualized advice in applying concepts and skills to their own businesses; in formulating their specific action plans; in resolving operational, legal and accounting issues; and in advancing in their industry. Responding to these needs is challenging for programs – limited as they almost always are in staff and budget – yet essential if they are going to meet the demands of clients who have moved beyond the basics of business start-up.

Effective microenterprise programs also have learned that there is more to technical assistance than offering business information and guidance. Many microentrepreneurs seek more: they seek help in goal setting and action planning, and in addressing the competing demands of their personal and business lives. They seek ongoing support and structures that help them "stay on target" in moving forward in their businesses. Many want access to experienced individuals who can both show them the path towards success and serve as models for getting there. They seek empathy and encouragement along with technical solutions in a wide variety of industries. Because responding to these needs is so challenging and yet so critical, this module focuses on three aspects of technical assistance that many experienced programs have found valuable. They are:

• Business consulting: One-on-one analysis, advice and guidance offered by experienced business advisors addressing a broad range of practical business issues. Business consulting also includes connecting clients to legal, accounting and other forms of relevant expertise, as well as helping them select other program services appropriate to their needs.
• Coaching: Guidance and motivation in developing goals and implementing action plans that address both life issues and business development. The focus of coaching is more on the process of planning and problem solving and less on technical business content.
• Mentoring: Counsel, advice and support provided by experienced entrepreneurs to emerging entrepreneurs in a structured relationship of some duration. Mentoring offers the client an opportunity for an ongoing and supportive relationship with an experienced business person concerned about his or her success, and able to open doors to information and other resources to help the business grow.

This module includes a section devoted to each of these program strategies and presents a set of lessons and findings, based on research conducted by FIELD and others, regarding the best practices in use within the industry today. Each section also includes case studies of experienced microenterprise programs that demonstrate interesting models and valuable lessons for others to consider. At the conclusion are a set of tools that can be adapted by practitioners interested in applying some of the strategies discussed here in their own programs.

The module begins with an assessment tool. The tool is intended to assist practitioners to identify how well their current practices reflect best practice industry-wide. This tool also serves as a guide to help readers identify which parts of the module might be most useful.

Volume 4: Keeping It Personalized: Consulting, Coaching & Mentoring for Microentrepreneurs (PDF)

Reasonable arrangements for persons with disabilities will be made, if requested at least two weeks in advance. Contact Jackie Orwick @ 202-736-1073 c/o The Aspen Institute, One Dupont Circle, NW - Suite 700 - Washington, DC 20036