How to find a business mentor

If uncertainty has been hampering your small business pursuits, consider the benefits of working with a mentor. Often, this means finding someone who is further along the path in the same industry. However, you should also be prepared to broaden your focus. From accounting to productivity to web design, there are all kinds of skills and experiences you can learn from those who have more “know-how” than you do.

This article outlines some of the benefits of working with a startup mentor. It also includes tips on how to find the right person to help you grow your business.

Why every entrepreneur should find a small business advisor

Below are four of the main reasons why you should partner with a mentor for your growing business.

1. Learn new skills

One of the biggest benefits of working with a mentor is that it allows you to learn the ropes from someone who has been down the same path. This isn’t to say that you should ditch the workshops, videos, or DIY books. But often, direct personal experience is one of the most effective ways to master new skills.

2. Avoid costly mistakes

Good mentors can help you avoid making some of the same mistakes that they made. Their advice may not always be a perfect fit, since every business journey is different. Yet, imagine how much time and money you can save by avoiding some of the common pitfalls that trip up many new business owners.

3. Expand your network

Anyone with more experience in a particular field likely has a network of vendors, service providers, and professional organizations that they interact with on a regular basis. This network can help provide you with access to connections – and by extension – more business opportunities.

4. Stay motivated

Working with a mentor creates accountability, since he or she will expect to see progress toward the goals you discuss together. This could help motivate you to start – or in some cases, finish – tasks that you might otherwise procrastinate doing, such as organizing your inventory, consolidating vendors, or starting a marketing campaign.

How to find a business mentor 101

Once you understand the benefits of working with a mentor, how do you find one? There is no universal formula for how to find a business mentor. However, the most important step involves introducing yourself so that you’re on this person’s radar. Thereafter, stay in touch by sharing details or asking questions you think might interest him or her. If this individual appreciates the value you provide, you may end up forming a relationship that could potentially grow into a mentorship.

Below are some strategies to help maximize your chances of finding the right startup mentor for your business.

1. Tap your current network

You’d be surprised how many opportunities can pop up simply by letting friends, family members, and co-workers know that you’re in search of a business mentor. Don’t forget to include former co-workers in your outreach efforts.

2. Contact your alma mater

Your school or university likely has a searchable database of alumni in your area. This is a great place to start, since you already have a connection established.

3. Attend industry events

From professional associations to meetup groups, there are organized events – both in-person and virtual – for every niche, industry, and interest under the sun. Consider starting your search using a professional social platform, like LinkedIn, to find the groups and organizations that may be a fit for you. Follow their pages to learn about new events and resources.

4. Use professional databases

There are all kinds of free and paid databases to help you quickly connect with professionals in your field. Don’t forget about the wealth of startup resources on the web, many of which can be found in our guides on how to start a business and seven habits of successful entrepreneurs.

5. Reach out to your ideal mentor

There’s no harm in reaching out to your dream mentor – no matter how rich, famous, or busy this person might be. The worst he or she can say is no. If you don’t ask, he or she can never say yes.

Ready to get started?

It may be challenging to find someone who is ready, willing, and able to guide you through your business journey from start to finish. In most cases, you’ll need to diversify your mentor search by working with advisors across several industries. This diversity can often be more advantageous than working with a single mentor. That’s because you benefit from multiple perspectives, skill sets, and networks along the way.

To learn more about starting a business, check out our collection of helpful resources, or contact a Clover Business Consultant.