Getting the most benefit from your mentor

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Heather Townsend
Director
The Excedia Group
Columnist
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Having listened to countless interviews with our successful Olympic athletes, they have all thanked their support team helping get them to the podium; but, it’s not just athletes who need support teams, ambitious accountants do too, explains Heather Townsend.

Whether you are in practice, industry or running your own firm, your mentor is the equivalent of these athlete’s ‘coach’. So, what exactly is a mentor? A mentor is a trusted adviser, usually someone more experienced or in a more senior role, who acts as a sounding board and helps you find your own direction and achieve your career goals. When Jo (my co-author) and I interviewed partners for our book, ‘How to make partner and still have a life’, we found that every partner pointed to someone who has acted either in an official or unofficial capacity, as a mentor, to help them achieve their career ambitions.

In this article we give you tips on how to find the right mentor for you, and how to get the most out your relationship with your mentor.

Register with AccountingWEB for free to read the rest of the article, which includes:

  • How to find the right mentor for you
  • How to make the most of the relationship with your mentor
  • Actions before, during and after you meet

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Find out how real accountants are getting hands-on help from more experienced practitioners on our mentoring project blog page.

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About efficiencycoach

About efficiencycoach

Heather Townsend is a brand ambassador for the Practice Excellence Programme, and the Founder of ‘The Accountants Millionaires’ Club’. In 2015 the ICAEW decided she was the number one online influencer for the accountancy profession. She is the author of 4 books, including The Go-To Expert, and ‘How to make partner and still have a life’ (co-authored with Jo Larbie).

Heather is always up for a challenge. Perhaps that is why she has built a track record of helping accountants grow the size of their practice by 50-200%, often in under two years. Often helping them make partner or equity partner in the process.

Heather is a high profile member of the accountancy profession in the UK. She has worked with over 300 partners, coached, trained and mentored over 2000 professionals at every level of the UK’s most ambitious professional practices. Heather's clients have included: 7 out of the Top 10 UK practices, including all the Big 4 firms. 

In 2016 her and her team of coaches have coached:

1) 7 people successfully to partner

2) Professionals from all of the Big 4, from every major continent in the world

 

As well as helping accountants make partner, she still spends 40% of her time helping small firms, typically under £1m GRF:

1) Create profitable revenue streams from advisory services and reduce their reliance on revenue from compliance services

2) Radically increase their profitability, even if they are a cloud based practice, often helping them achieve a net profit margin of 40%+

3) Double or even triple the size of their practice within 3 years

4) Win bigger and better clients

5) Grow the right team around them so they stop working stupidly high hours and spend quality time with the people they care about

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Her articles appear regularly in the UK national and trade press, including The Financial Times, Accountancy Age, The Sunday Times and The Guardian. Heather is also in-demand for her speaking and has recently returned from the South African Accountancy Academy conference.

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