Choosing the right business mentor

Two very obvious phenomena over the last ten years: “entrepreneurs” and “mentors” are mushrooming like nobody’s business. You may come across an entrepreneur who is mentored by many mentors; or a mentor who is mentoring many entrepreneurs. These relationship/engagements became popular for various reasons – obviously this is simply due to the demand instead of supply.
Younger entrepreneurs/startups make up quite a big portion in this situation, and I guess this ties back to the behaviours and attitude of this generation.
The younger entrepreneurs want quick results and they are most likely not willing to spend time to explore, instead they need an answer/solution when they face challenges, a phone call to their mentor is probably one of the easiest way.
The other obvious reason is our education system. Our education system gave us knowledge which has little use in entrepreneurship. Starting a business after graduation is almost similar to a suicide mission. Getting a mentor will help them avoid silly mistakes and increases their survival rate.
Nevertheless, choosing a good mentor is not easy, not to mention whether he/she wants to mentor you. So here I have listed down some tips, which I believe you should consider when you chose a mentor.
1. Two way communication
As an entrepreneur, you should be open for ideas, but at the same time, you should hold on to your principles if you believe what you do is right. A good mentor will not tell you what’s right or wrong, but become a sparing partner to discuss possibilities from all angles. He/she should have an open mind instead of prejudging your ideas.
2. Resourceful
Working with a mentor who is resourceful will definitely save you a lot of trouble. They can help you open doors to connect to parties that’s important to your business. Connecting to the right guy in business is very crucial, not to mention the opportunities that you can access via his/her connection. Imagine writing hundreds of emails and not getting a reply, versus a phone call from your mentor to your stakeholders.
3. Don’t go for big names
Many would like to be mentored by celebrity mentors, but lets be realistic. He/she is so busy, how much time do you think he/she can spend with you? Yes, he/she may help you in connecting people, but you still need someone who can give you attention. Look for a mentor(s) who can commit their time.
4. Find a real entrepreneur
No offence. I think the best mentors to young entrepreneurs are someone who owns a business, someone who has the real experience and exposure in business world. I do come across many mentors who do not own any business, and they work more like a counselor or a senior who is willing to listen to your problem and motivate you when you are down. Well, you still do need these, but to solve your business problems, just talk to someone who has the real business experience, don’t take your chances.
5. More is less
Don’t try to be smart by getting many mentors to mentor you. You will either confuse yourself, or you may end up offending your mentors without you realising it. Each mentor has their own beliefs and approaches, some may work well together, but some may conflict with each other. You have a watch, stay with the time shown from your watch, when you ask another guy who tells you a different time, you won’t know which one to follow.
#entrepreneurship #startups #smallbusiness #sme #icfosolutions #icommunity #captainamerigan #mentorship
 
Article can be found in Entrepreneurs Insight magazine, August 2018