How to Find a Business Mentor and Benefit From Their Expertise

There are over 30 million active small businesses in the United States. With fierce competition like this, you'll need every resource you can get your hands on to succeed. Working with a business mentor is a great way to get started on the right track.

Not everybody understands the benefits of mentoring, though. Let's look at the key information you should consider.

Business Mentor Benefits

There are many invaluable benefits of working with a mentor in your industry. Guidance and advice are among the most significant. A mentor can provide an experienced perspective on the challenges you face.

They can also share valuable information about resources, people, and processes that can help your business succeed.

Having an online business coach keeps you focused on your long-term goals. For example, regularly checking in can help keep you motivated.

Another key benefit of having a business mentor is the support system they provide. They can be an amazing resource to tap into when you’re feeling overwhelmed or stuck. Finally, having a mentor is great for networking.

Mentors often open doors to new opportunities through their connections that you wouldn’t otherwise have access to.

Getting the Most Out of Them

It's not enough to simply find a mentor.

There are certain factors to consider so you can get the most out of them. Listed below are a few of the most notable.

Identify Your Strengths and Weaknesses

Looking at your own strengths and weaknesses can help you make the most of the relationship.

You should choose a mentor whose expertise can fill in the gaps where you lack knowledge or experience. To clarify, let's assume you're a new entrepreneur in your industry.

You should consider choosing a mentor who has already experienced the turbulence of starting a new business in that space. You should also be prepared to provide information about your objectives.

This will help the mentor understand what you want to achieve and how you hope to get there. It's in your best interest to compile this information and present it to your mentor. The better they understand you, the better they can help you learn how to succeed in business.

Set Specific Goals

Your mentor will be more useful if you have clear goals in mind. Think about what you want to get out of the relationship. This way, they can provide tailored advice specifically for you.

Setting goals keeps you on track and retains the focus of your mentoring sessions. It will also establish a defined objective. People often work better when they are working toward something concrete.

For instance, having a goal like "I want to grow my business" won't get you very far. In contrast, a goal such as "I want to increase my sales revenue by 500% within the next year" is much more actionable.

Make Communication a Priority

Communication is key to any successful mentor-mentee relationship. So, you need to establish the terms of your communication right from the beginning. This could mean having weekly or biweekly check-ins over the phone, email, or video call.

You should always respect your mentor's time. Their availability might not always align with yours.

So, let your mentor determine the best time for them to communicate with you. If you find that your schedules conflict, you could look elsewhere for alternatives.

How to Choose the Right Business Mentor

Making the most of your relationship with your mentor is only half the battle.

Finding the right one for you is the next step. Let's explore how you can do so effectively.

Research Potential Candidates

Don’t get too hung up on finding a mentor in your same industry.

Often, the biggest breakthroughs come when you apply an idea from outside your industry to your business or life. If you do the same thing everyone else is doing, you’ll get the same results. But if you do something different, something that is working well for people in a different industry who think differently than the people in your industry, that’s how you leap ahead of your pack.

You might also want to consider looking into their personal brand and reputation. If they are well-respected, this could be a sign that they are right for you. Come up with a list of a handful of candidates.

You can then narrow the list down based on certain criteria. For example, you may be considering a highly experienced mentor who isn't easy to get in touch with.

This is an option you should eliminate.

Look For Mentors Who Match Your Personality

It's also important that you find someone who matches your personality.

A mentor should be able to understand and relate to you so they can give you the best guidance. Consider their leadership skills, communication style, and attention to detail when making your decision. It may take a while to find the right mentor for you, so don’t rush into anything.

Get in Touch With Your Favorites

Once you've narrowed your list down to a few potential candidates, reach out and introduce yourself. Share details about your business, side hustles, goals, and the value you can provide in return. Give them time to respond before going ahead with any further conversation.

If they don’t get back to you within a reasonable amount of time, move on to another option.

Treat this like an interview process. After all, the purpose of working with a mentor is to push yourself forward.

If prospective choices don't meet your standards, there's nothing wrong with exploring other options. Evaluate your options carefully and make sure that the mentor you choose is right for you and your goals.

This is a process that can sometimes take weeks or months. Regardless, it needs your undivided attention if you want the best results.

Prepare for the Mentor-Mentee Relationship

Not everybody is prepared for their mentor-mentee relationship when it begins.

This can hinder your progress and make it difficult to maximize the relationship's potential. To ensure that you get the most out of the experience, start by creating an agenda for each session. Decide on topics together and what areas you wish to focus on.

This will help you stay organized and make the most of your time together. Giving honest and open feedback is essential to making a mentor-mentee relationship work.

It not only helps you improve but also allows your mentor to understand what works best for you. This is where the aforementioned importance of being comfortable with them comes into play.

If you don't feel like you can communicate with your mentor, you likely won't be able to have constructive conversations. This will only end up holding you back.

Have Realistic Expectations

The expectations you have should always be realistic.

It's important to remember that mentors don't have all the answers to every problem. Although they might have plenty of industry experience, this doesn't mean they can serve as a universal solution.

It’s also important to keep in mind that mentoring is not a quick fix. This process takes time and effort.

When handled correctly, it can help you grow as a businessperson and will create a lasting impact on who you are as a professional. Keep in mind that your expectations may change over time. They may increase or decrease based on the relationship you have with your mentor.

Regardless, they should remain realistic as you move forward.

Communicate Effectively

Establishing communication is one thing—effective communication is an entirely different beast. This means being honest, open, and willing to listen to what they say.

It also requires you to be proactive when it comes to setting up meetings or getting in touch with them. Ways to improve your communication include setting reminders, following up, and staying organized in your exchanges.

The better you communicate, the more likely it is that you’ll get the most out of the relationship.

Maintain a Positive Attitude

Maintaining an optimistic outlook on the mentoring process is essential.

Be prepared to put in the work and ask for help when you need it. Don’t be afraid to express yourself or talk openly about your business plans and objectives.

Believe in yourself—your mentor believes in you, too. If you find yourself feeling negative or discouraged, take a step back and remind yourself why you decided to get mentored in the first place. Positivity can go a long way.

A great way to become more positive is by avoiding negative thoughts. For instance, if you're feeling overwhelmed by the process, make sure to focus on the small wins and successes along the way.

Be Open to Feedback

If you are somebody who has trouble taking criticism, this is something you need to work on before pursuing a mentor.

Your mentor is there to help you succeed, and that often requires constructive criticism. Listen to what they have to say and try to learn from their words of wisdom. Their critique is not meant to hurt you—it’s meant to help you.

Being receptive to feedback will go a long way in terms of professional development.

Take Action

Learning is only as useful as how much action we take after gaining knowledge. Don’t be afraid to try new things and push yourself out of your comfort zone.

You can always ask for help if you need it, but you have to take steps forward in order to make progress. A great way to start is by setting small, achievable goals each day. As you become more comfortable with your mentor-mentee relationship, you can pursue bigger goals.

Build a Mutually Beneficial Relationship

The relationship that you have with your mentor should be mutually beneficial. It’s not just about what you can learn from them, but also what they can learn from you.

Take the time to talk with your mentor about their own business experiences. Share your thoughts and ideas with them, as well.

They will appreciate the effort, and it will make for a strong relationship. It's also a good idea to ask them if they need help with any of their projects.

This way, you can also contribute to the relationship and make sure that it’s a two-way street.

Common Mistakes People Make

One of the biggest mistakes people make is not taking the mentoring process seriously.

Sometimes, they treat the mentor-mentee relationship like a casual friendship rather than something professional. You should take the relationship seriously and treat it as a growth opportunity.

Going into it with this mindset will help you get the most out of the experience.

Another mistake is not having a clear plan or goal in mind.

You need to come up with a reasonable expectation of what you want from the mentoring process. Otherwise, it’s easy to get sidetracked and lose sight of what you’re trying to achieve. Not only will this waste your time, but it will also waste your mentor's time.

If they feel you aren't worth investing in, they may choose to end the relationship. This could have many harsh consequences. For example, your mentor is likely well-connected in their industry.

If you develop a poor reputation as a mentee, you may not be able to find a local mentor in the future. Professionals who know your mentor might also be reluctant to work with you. The good news is these scenarios are entirely avoidable.

Find Your Business Mentor Today

Working with a business mentor could be one of the best investments you make. As long as you keep the above guidelines in mind, you'll be sure to find the ideal candidate. From there, you can catapult your business to new heights.

Looking for additional information on how I can help you grow your business? Feel free to get in touch with me to learn more.