Wallace Morgan: The Importance of Mentorship

As a mentor of many young entrepreneurs, Tommy Smith, Managing Director of Wallace Morgan explains the importance of having a mentor in the business industry and outlines the fundamental skill sets of being a coach.

Most organizations are talking about coaching their workforce. The truth is that rarely any company has actually provided training on how to coach people for their managers. Tommy Smith, entrepreneur and Managing Director of Wallace Morgan, says, "It is crucial for businesses to define what coaching individuals and teams really means and train all managers accordingly." By clearly communicating what the development of their workforce should look like, Wallace Morgan have increased their sales by nearly 42 per cent.

Managers must be able to transfer their skill set, insist Wallace Morgan. The easiest model to do that is 'Tell, Show, Do, Review'. Tommy Smith of Wallace Morgan says, "Unfortunately, many businesses believe that telling their workforce what to do should be enough to get the job done." Tommy Smith adds, "In order to achieve and drive high performance however, managers must clear their schedules and be 'on the floor' with their teams. What could be more important than investing time in the people who bring the results of an organization?"

Coaching is an important skill. Wallace Morgan say that managers must have the skill-set to recognize when poor thinking is leading to poor results and then have the ability to specifically influence performance outcomes. "I have seen businesses with great teams and yet their performance was below target", states Tommy Smith of Wallace Morgan. It is crucial to identify what the perception of team members is towards their work. Negative, confused and frustrated thinking can lead to under-performance. "When managers are capable to identify these issues they can then specifically overcome the given challenges by increasing engagement and morale through specific steps," explains Tommy Smith.

For Wallace Morgan, coaching and mentoring have absolute priority. Tommy Smith strongly believes that having the right coaching technique in place increases the value of an organization. He is of the opinion that firms must have a clear understanding of organized development in order to achieve consistency of practice across the entire management team and the business.

Wallace Morgan are an outsourced events marketing firm based on Avenue of the Americas in New York. The company promotes and sells products and services on their clients' behalf at various events to reach a specific target audience. Tommy Smith believes that development is the foundation for being successful. The firm offers a Business Development Program to entrepreneurs who are looking to run their own business but may not have the relevant skills or guidance. "Our Business Development Program teaches people about sales and marketing, area management, leadership, the importance of mentoring and coaching and what it takes to open up a business and keep ahead of the competition", explains Tommy Smith of Wallace Morgan. "We have dedicated mentors for everyone as development of people is our so-called secret to success. The mentor is a person people trust, who identifies challenges and resolves them by taking dedicated time with an individual, listening to them and showing hands-on how great performance looks like," adds Tommy Smith.

Wallace Morgan have big plans. Due to their current success, their clients would like the firm to represent them nationally. Plans to go overseas in 2015 are also under discussion.