Throughout the Season 02 of CulturallyOurs we have connected with businesses and entrepreneurs from all over the world and heard their stories of successes and failures and how they overcome challenges in their everyday entrepreneurial journey. When asked on how they stay motivated and find a tribe or support system, the most common answer we heard was around finding a mentor and/or well wisher who guided them along their journey.

Megan Steffen shared how a mentor really helped her navigate her industry dynamics when she was just starting out. Pravin Shekar, a serial entrepreneur of almost 20 years said his biggest regret was not getting a mentor early on in his career. And Freya Dowson and Maggie O’Reilly both touched upon the importance of community as a strong support system – people who had done similar things from whom we can learn.

The path of an entrepreneur and that of a business is full of ups and downs. Thus, navigating them is easier with the help of an experienced mentor who can guide you along the journey. But how do you go about finding a mentor – the right mentor – to help your venture as well as your confidence soar to new heights.

Inspired by this article in Forbes, here are some tips to finding a mentor for your business.

Importance of a business mentor

Many business owners often forgo mentorship due to the fear of asking for help or even worse, pride. This may stem from the false notion or even a cultural mindset that capable business leaders don’t rely on others. But in reality, even prominent entrepreneurs like Richard Branson, Warren Buffet and Bill Gates had mentors who instilled in them the confidence and know-how to succeed.

Mentors can assist in a variety of different ways and in different capacities:

• Brainstorming ideas for a new venture
• Researching ways to launch
• Finance the venture
• Gaining a renewed sense of motivation or inspiration
• Assisting in the decision making process

Basically, your mentor can act as a business counselor and can assist in a variety of ways depending on your needs, the relationship and mentor’s expertise. Sometimes you even may need more than one mentor to assist in various aspects of your business.

How to find a business mentor

Once you determine you need a seasoned business guide, you can easily find one of your own. Look into your own network or that of your family and friends. Are there people you look up to who might be ideal candidates for a mentor? Sometimes a mentor relationship is not as formal. A friend or a college who you trust can play the role of an unofficial or official mentor. The trust factor cannot be overlooked when seeking a strong business advisor. After all, if you can’t trust your mentor, you are less likely to confide in or accept the advice given by him or her. This mistrust can lead to the demise of the mentorship or your venture. Thus, tapping your own existing network is one of the best ways to find a business mentor. A friend, family member or trusted confidant may have just the viewpoint you need to thrive.

In the Unites States, there are also many government-sponsored mentor organizations offer free or low-cost support services to small business owners:

• SCORE Mentors
• Small Business Development Centers
• Women’s Business Centers
• Veteran’s Business Outreach Centers
• Minority Business Development Agency

In other countries, there might be private sector entities and non-for-profit organizations that offer mentorship for small business owners.

If you’re looking for one-on-one or group mentorship, consider connecting with a trade association. These organizations often represent diverse industries and professionals that are specific to a niche. This increases the odds that you will find a mentor well-versed in your business niche.

The mentor-mentee relationship

To build a successful relationship, you need to set realistic expectations. That means setting a clear goal for the mentorship. Once you decide on a goal, establish regular mentoring sessions that fit both your schedules. This will allow you to track your progress as the mentorship progresses. Remember you cannot expect a business mentor to wave a magic wand and resolve all your business problems. A mentor is there to guide and assist you, not do the work for you.

Have regular goal setting exercises just like you would for your business and measure progress against those goals. Often times a mentor can also act as an accountability coach in helping you keep a track on where you want to take your business.

At its highest level, mentorship is about having the right kind of people around us — people who committed to helping others become fuller versions of who they are. Mentorship is as much about skill as it is the desire to help. Find mentors who are committed to helping others succeed and who are devoted to bringing others along their journey – at whatever level that might be.

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