There are quite a few definitions of business. However, one thing they all have in common is that it is a risky venture. And, one of the ways to mitigate the horrors of business risk is to have experience. But, how does a startup founder get the experience of seasoned entrepreneurs and investors in its early stages? You guessed it – Business mentor.
Everyone needs someone more experienced to look up to, and business is no exception. If you are a small business owner, having a business mentor should be on your priority list for the new year. A business mentor is an entrepreneur or investor with a handful of experience in your industry who advises or trains startup founders with less experience.
Now, finding a business mentor can be tricky since most top business owners are often highly occupied. As a result, few top-rated entrepreneurs and investors are unwilling to take in developing founders.
This blog post will enlighten you about finding the right business mentor, how to, what to look out for when picking one, and why you need a business mentor. Also, you will learn how to get your mentor to accept you, leading to a cordial relationship.
Who is a Business Mentor?
A business mentor is an experienced person, usually a current or former business owner/investor that provides guidance, advice, and training to a less experienced person. He is more interested in your personal development relating to the business, especially if you have the basic skills, potential or raw talent. Both the mentor and the mentee have a somewhat similar relationship between a teacher and a student. As a result, your business mentor is also your business coach, adviser, master, guide instructor, trainer, etc.
Your business guide not only teaches you the business but instructs and encourages you to grow. This experienced role model is responsible for finetuning your skills to bring out the best entrepreneurial quality in you. Sometimes, the relationship between a mentor and a mentee in business blossoms into a partnership. The resultant collaboration may yield a win-win business opportunity for both parties.
Why do you need a business mentor?
Mentorship is very critical for a successful business career. The fact that there are specific skills and knowledge that only experience gives proves the relevance of business mentorship. Simply put, a mentor gives a startup business years’ worth of experience in its early stages. This will help you avoid pitfalls that would otherwise have been the end of your business.
Essential aspects of running a business include strategy, decision making, talent, and execution. However, these business essentials take time to acquire and master— That’s where a business mentor comes in handy. He helps you figure things out and holds your hand while walking the rocky path.
For instance, a business mentor who is more tech-savvy might introduce you to generating 1099 and w-2 forms with online finance documents generators. Also, he might introduce you to online invoices or online strategies for generating paystubs for your workers.
How to find the right business mentor
Top individuals worthy of becoming mentors are super busy, finding the right mentor can be pretty tough. As a result, finding the right business mentor requires some attention to detail and several factors to consider. Such factors include mentee factors, mentor factors, and acceptance factors. Therefore, giving these factors good thought will help you find the right business mentor.
Mentee factors
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Personal goals
Knowing what you want is the first step towards achieving your desire, including business mentorship. You need to be clear about your goals for your career and be willing to take action before seeking a mentor. That way, you are mentally and emotionally ready to follow leadership and motivate your coach for continuous guidance.
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Personal attitude
You are responsible for driving the relationship because you have more to gain from it. Therefore, you should be proactive and take the initiative during the mentoring process. Also, your willingness to learn is a personal essential that will spice up your mentoring relationship. You should remember that your mentor is both your instructor, advisor and confidant. As a result, he provides a reliable shoulder to lean on when you feel the work pressure building up. Conversely, if you have problems taking advice, receiving feedback, and being told what to do, getting a mentor might not be a good fit for you.
Mentor Factors
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Profile
Your business mentor should be someone with more experience in the field than you. Therefore you should spend quality time studying and researching the top players in your area before choosing. Additionally, you can spend some time talking to them and finding out their track record and achievement. That way, you instil confidence in yourself that they have all it takes to help you grow.
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Accessibility
Not every top player in your field will have the time and energy to groom a developing colleague. Therefore, before approaching an expert for mentorship, you should find out how accessible they are. Fortunately, the internet makes it possible for mentors to accommodate their mentees virtually. You might want to take advantage of that!
Acceptance Factors
Finding a business coach is one thing; another is getting him to accept you. One way around this is to hang around them more often. That way, some of their wealth of knowledge rubs off on you by association. Moreover, the more you stay in their space, the sooner they will see you as part of them. Join social groups, attend seminars, lectures, and conferences, and actively network with the top players in your field. That’s how you get their attention and get them to accept you.
Final Thought
There is almost no successful person who has not benefited from mentorship. So while you embark on your training with your business mentor to drive your productivity and success, it would help if you considered the possibility of mentoring someone else to pass the experience along.
FAQS: Do you pay a mentor?
Do you pay a mentor?
There are different forms and patterns with mentorship relationships. While there are commercial mentors, there are chances that you might not get the best from them. You are better off with a mentor that doesn’t ask for compensation but is proud to guide you as a friend and younger colleague.
Do I need a business mentor?
We live in a codependent society. As a result, everybody, at some point, needs someone for guidance. Therefore, almost everyone has a mentor, including already existing mentors. There is no overstating the importance of an excellent mentor to running your business and building your career.
Can I find a mentor online?
Online platforms and social media are becoming viable options for finding mentors. Additionally, there is the extra benefit of having more than one mentor because of the virtual relationship through the internet.
