Five tips to find the right business mentor | SupportBiz

Managing Growth

Five tips to find the right business mentor

A mentor can be invaluable for a business unit, irrespective of whether it is small or large. The right mentor can steer the business in the right direction, helping the management make right decisions at the right point of time. A mentor can challenge an entrepreneur, and push him to achieve new heights, which might have, otherwise, been considered unscalable.

SupportBiz presents five tips to help you find the right mentor for your business firm.

Determine the areas where you need help

The first step in finding a suitable mentor for your business is to calmly introspect and determine your strengths and weaknesses. You can also seek help from your friends, relatives and employees in this evaluation. Once you are clear about the areas in which you need help, you can begin to look for a mentor who can guide you in these matters.

Consider mentoring techniques

Different entrepreneurs learn in different ways. Some learn skills by reading about their implementation, while some others need to see these skills being practically used in order to learn them. Consider the mentoring techniques used by different mentors, and evaluate them. Choose a mentor whose teaching skills coincide with your learning preferences.

Consider reimbursement

Some entrepreneurs believe that an unpaid business mentor is great for unbiased opinions and guidance. Some other entrepreneurs believe that only a paid mentor will give you the right kind of advice for your business. Think over this issue objectively, and determine what you believe in. Will you be able to accept a business mentor who does not charge for his services? If you choose a business mentor who needs reimbursement, how much will the amount be and will you be able to afford it?

Consider educational qualifications and experience

Consider the professional qualifications of different mentors whose services are available to you. Study their experience – How have they helped other firms? How many firms have they led to success? Choose the mentor whose qualifications, expertise and industry matches your requirements, and who have a good track record.  

Personal aspect

Hiring a mentor alone does not guarantee the success or growth of your business unit. You need to understand the mentor’s assessment of your business and your skills and weaknesses. You need to follow his/her recommendations and plan of action. It is, hence, crucial to choose a mentor with whom you collaborate best on a personal level.