A minute with a Boost mentor: Amal Loring

Through the fully funded Boost Growth Mentoring programme, business owners and managers can access a wide variety of professional experts to help them develop and grow their business. We highlight some of the mentors working with Lancashire businesses behind the scenes. So take a break and read about Amal Loring, an experienced businesswoman with over 23 years’ experience in business coaching and mentoring.

Why did you choose to become a mentor?

I really enjoy helping others in every dimension of life. I truly believe that everyone deserves to be successful, whatever that might mean to a person. Having run my own businesses for over 25 years and helped many business owners have surety and choice in life, I want to continue to share my knowledge and practical experience.

How do you make a real difference to Lancashire businesses?

My goal is to create financial prosperity for business owners. In doing so, this facilitates freedom of choice with a mindset to invest in other local businesses, to employ from the local community and to contribute to local charities. When you invest locally, it has the multiplicity of seven. Everybody wins.

What is your area of expertise and why is it an important area to for business leaders to address?

I equip business professionals with the skills to grow their business through referrals as 62 per cent of business comes through referrals. Further, 80 per cent of our income comes from 20 per cent of our clients. Referred clients stay with a company 70 per cent longer. I turn these facts and figures into a Referral strategy. This gives business owners more time back in their schedule and more money in the bank.

What has been your most inspirational moment as a mentor?

I find every “light bulb moment” that a client has inspirational. When a client moves from surviving to thriving, and I witness the client grow in confidence and knowledge, that inspires me.

What are the key challenges for Lancashire businesses at the moment?

Recovering from the current knock-on effects of the pandemic is clearly a local and global challenge. Some businesses have been unable to adapt and reinvent themselves at this time. Finding the correct talent in all positions within a company to fill a much needed skills gap. Also a general position of undervaluing the value of the services that are being provided. Still believing that people based in major cities such as Manchester and London can charge more than those based in local organisations.

As a mentor, what are your three business growth tips?

1. Be in control of your schedule. When you are in control of your diary you understand the worth of your own time, how to effectively manage time and how to make the optimum use of it. 2. Understand your cashflow. Surprisingly many business owners don’t have a basic understanding of their cashflow or balance sheet. It is essential that you have at least three months’ cash reserves. This sadly was highlighted during the pandemic when businesses were caught short. 3. Be prepared. Be prepared in all instances, for meetings, for presentations, and be ready for anything at any time. Boost Growth Mentor - Amal Loring Amal is an expert in helping companies grow their business and is committed to working with business owners to help them increase profitability. She has over 23 years’ experience in business coaching and mentoring and has worked across many different market sectors and with international clients. Her skills set includes supporting business leaders with strategy, positivity, communication as well as offering counselling, inter-cultural intelligence, emotional Intelligence and referral marketing.