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Related Links
Russam Business Mentors – A Specialist Service
from Russam GMS
(PDF file)
Russam Business Mentors – About the Market
(PDF file)
Case Studies – Russam Business Mentors in action
(PDF file)
from Russam GMS
(PDF file)
Russam Business Mentors – About the Market
(PDF file)
Case Studies – Russam Business Mentors in action
(PDF file)
The role of Mentors
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About the SME market, Entrepreneurs and the role of Mentors Most people think of Entrepreneurs as those who have made it – and usually made it big-time – and in big organisations. The reality is that the bulk of entrepreneurial activity is elsewhere. Part is hidden in a variety of businesses which are working hard to change themselves to cope with unprecedented market and economic changes. The rest is at the other end – the SME end. Most SME owner/managers don't actually see themselves as Entrepreneurs. They see themselves as ordinary people doing something they want to do, (or don't see any other option) oblivious to the high levels of effort and time that are part of the process. But they have in the back of their minds that, sometime, someone is going to buy them because of what they have created. The attraction to larger businesses in buying a smaller business with a great product is that they don't have to take the risk or spend the money in creating the product from scratch. The reality is that Interim Managers themselves are SMEs – but many have large company backgrounds and have made a successful change. Most of them are also probably entrepreneurs as well. |
About Business Mentors
| There are differing definitions and understandings. Here are a few definitions:-
Business mentoring is a relationship between an entrepreneur and someone with business experience who is willing to act as a guide. The business mentor offers advice, guidance and support to help the entrepreneur run a business. Business mentoring is a two-way relationship. It is not just an opportunity to pick the brain of a more experienced entrepreneur. Both parties must be committed to achieving certain goals. Business Mentoring can be formal or informal. Not all mentors have to be formally established as such. Friends, family and business contacts can all become involved in unofficial mentoring. Mentoring is a great way of getting business guidance and support on an ongoing basis. You choose how formal or informal you want the process to be. |
Mentoring can be free
| Russam Business Mentors are senior experienced business people, doing serious work and charging for what they do, albeit at the lower end of their market value.
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Contact Us
Charles RussamChairman and Managing Director of Russam GMS
Tel: 0845 658 1717
Fax: 01582 471757
E-mail: hq@russam-gms.co.uk
www.russambusinessmentors.co.uk
Russam GMS Ltd.,
48 High Street North, Dunstable, Beds. LU6 1LA
Get map and directions here
All details of our other offices can be found here.
Russam Business Mentors
A Russam Business Mentor is a senior, experienced independent business executive who works closely with a Managing Director operating at Director and strategic level on very much a part-time basis. The definition includes categories of Executives known as "Critical Friend", "Close Advisor", Mentor or, sometimes, Coach. The role does not generally include any routine line or staff management responsibilities but will include some one-off senior projects which the CEO deems best do-able at CEO level. Sometimes, the Russam Business Mentor will become a Non-Executive Director and/or become a shareholder - with no or very little change to the existing role and range of inputs.
What do Businesses need?
Many businesses – principally owner-managed organisations – need a particular and special type of independent support. They need a professional, an outsider free from internal politics, someone they trust and can confide in, who has technical and/or trade knowledge and experience beyond that which currently exists in the organisation and who can work with the company on a continuing part-time, but certainly never full-time, basis.
Why Russam GMS?
The longest established mainstream Interim Management Provider in the UK, Russam GMS has built up a sector dominating range of contacts with top independent business managers– and, very often, reaches, through them, their own contacts not previously known to us.
The Process
Fees
Our standard fee is £5,000, payable in two equal tranches – one when the contract is agreed and the second at the end of the first three months, assuming the arrangement is still live. There is a commitment fee of £500 chargeable to the client before the search work commences and which is refundable against the first tranche of £2,500 chargeable when the assignment starts. If the arrangement does not work within three months, we will submit a new shortlist free of charge or return 30% of the fee charged. The standard fee varies depending on a number of factors including the size of the client's business and is negotiable. Please note that our guidelines to Russam Business Mentors are that £500 per day should be their minimum fee. Whilst it is not unusual for arrangements at lower rates to be negotiated, the overall seniority levels of Russam Business Mentors and their expected contributions to their client's businesses does need to be recognised.
This initiative from Russam GMS recognises that many business owner/managers – particularly at SME level - need – now more than ever – close support particularly in difficult times but also when times are easier – if, indeed, these times exist - ideally outside the line management structure. It recognises the huge wealth of talent available from Russam GMS, as a leading UK Interim Management Provider, to service these needs.
This is how the EU defines an SME:-
A small enterprise has a headcount of less than 50, and a turnover or balance sheet total of not more than €10 million. A medium-sized enterprise has a headcount of less than 250 and a turnover of not more than €50 million or a balance sheet total of not more than €43 million. The EU has a third category called Micro Enterprises. A micro enterprise has a headcount of less than 10, and a turnover or balance sheet total of not more than €2 million. UK company law present s a slightly different definition but for our purposes, the EU definition is good enough.
This is how BIS describes an SME:-
What do Businesses need? Many businesses – principally owner-managed organisations – need a particular and special type of independent support. They need a professional, an outsider free from internal politics, someone they trust and can confide in, who has technical and/or trade knowledge and experience beyond that which currently exists in the organisation and who can work with the company on a continuing part-time, but certainly never full-time, basis.
Why Russam GMS?
The longest established mainstream Interim Management Provider in the UK, Russam GMS has built up a sector dominating range of contacts with top independent business managers– and, very often, reaches, through them, their own contacts not previously known to us.
The Process
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The specific and agreed brief is confirmed in writing between Russam GMS and the Client after the initial Meeting. Russam GMS conducts the search and presents a shortlist of suitable candidates reflecting the brief agreed in writing with the client. Russam GMS interviews all candidates and will take up a minimum of two references per candidate and report verbally to the client, unless the client prefers to follow up the references personally. The fee charged by the Russam Business Mentor to the client shall be agreed between them as part of the written Agreement and it is recommended that this shall not be less than £500 per day excluding VAT and will be paid within 30 days of submission of invoice. |
Fees
Our standard fee is £5,000, payable in two equal tranches – one when the contract is agreed and the second at the end of the first three months, assuming the arrangement is still live. There is a commitment fee of £500 chargeable to the client before the search work commences and which is refundable against the first tranche of £2,500 chargeable when the assignment starts. If the arrangement does not work within three months, we will submit a new shortlist free of charge or return 30% of the fee charged. The standard fee varies depending on a number of factors including the size of the client's business and is negotiable. Please note that our guidelines to Russam Business Mentors are that £500 per day should be their minimum fee. Whilst it is not unusual for arrangements at lower rates to be negotiated, the overall seniority levels of Russam Business Mentors and their expected contributions to their client's businesses does need to be recognised. This initiative from Russam GMS recognises that many business owner/managers – particularly at SME level - need – now more than ever – close support particularly in difficult times but also when times are easier – if, indeed, these times exist - ideally outside the line management structure. It recognises the huge wealth of talent available from Russam GMS, as a leading UK Interim Management Provider, to service these needs.
This is how the EU defines an SME:- A small enterprise has a headcount of less than 50, and a turnover or balance sheet total of not more than €10 million. A medium-sized enterprise has a headcount of less than 250 and a turnover of not more than €50 million or a balance sheet total of not more than €43 million. The EU has a third category called Micro Enterprises. A micro enterprise has a headcount of less than 10, and a turnover or balance sheet total of not more than €2 million. UK company law present s a slightly different definition but for our purposes, the EU definition is good enough.
This is how BIS describes an SME:-
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There are 4.8 million small businesses in the UK |
