IB Woman
Issue No. 44 - December/January 2008
Mentoring makes a real impact
by Penelope Herbert
Ideally, succession planning in a family business is strategic with a long lead-in time. But for Emily Smith, the death of her father took her on a career path that was as divergent as it was unexpected.
She was working in an administration role in her father’s Victor Harbor real estate business, barely in her 20s with travel and other plans ahead of her. But within one year of her father passing away and with the company ready to be sold, she couldn’t go through with it.
“My brother also worked in the business but was relocating to Queensland so he saw selling as the only option,” Emily says.
“As the time grew closer I couldn’t sell what my father had spent his heart and soul building.
“So even though the business was in bad shape due to a year of upheaval, and with me not having any qualifications, I plunged in to building the business back up.”
Emily hit the ground running in 1996 with a small, dedicated staff that supported her efforts to oversee the property management, marketing, finance and sales departments. It was a suggestion to seek the help of business coach and mentor, Shelley Elder, which really made an impact.
“Shelley would travel to Victor Harbor each month to
mentor me on running a business, systems, staff morale
and finances,” explains Emily.
“Her fresh eyes and business acumen helped me to have a holistic approach to what was required to make the business successful again.
“I finished a TAFE course in finance and business administration and worked with Shelley for two years. In 1998 I was a finalist in the Telstra Young Business Woman category of their annual awards, which was a real highlight.”
In 2002 Emily started a Bachelor of Commerce degree, graduating in 2006 after working full-time while studying.
She says there were times when she wanted to give up, but that her nature is to finish projects she starts.
“I developed better time ma...
