There is a good deal of talk these days about business mentoring but in reality this certainly isn't a new concept, it's as old as business is.
However today's extremely competitive market place requires the best out of each entrepreneur and mentoring is an excellent way to grow personal skills and to achieve business goals.
It's such a hot topic these days that an entire industry has sprung up around it usually under the name of Executive Coaching and it can be pricey.
But finding a mentor can be done on your own and it can cost as little or as much as you want to invest in it.
Here are a few good ideas when searching for a mentor.
1.
Know why you want a mentor It sounds pretty obvious but this step is often overlooked.
Write down what your goals are, what your concerns are, what you think your personal strengths and weaknesses are and what you expect from a mentor.
Once you have an idea of what you are looking for the search can begin.
2.
Get a free mentor from the government? This can sometimes be a good match particularly for someone starting a business for the first time.
The Small Business Administration runs a program called SCORE or Service Core Of Retired Executives who offer up the assistance of retired professional for consulting and mentoring.
These people are all retired volunteers which means they have some time they can spend with you.
The downside of course is that there is no guarantee that they are current in your field.
3.
Search your own network If there is somebody you have done business with in the past who impressed you, even if their business is not related to yours, this might be the mentor you are looking for.
The key of course is that you have to want him or her and he or she wants to work with you.
4.
How do you ask someone to become a mentor? Approaching a potential mentor, be they a close acquaintance or an absolute stranger can be sometimes difficult to do.
Your first contact should be by email or mail, introducing yourself and simply asking the prospect if he or she could provide some feedback on a project you have in mind.
Explain that you greatly value their opinion and ask if you could meet for an hour preferably away from the prospect's business.
5.
How do you select a mentor Before you meet a prospective mentor for the first time, have a list of your goals and objectives handy.
Have questions about his or her own experiences both successes and failures.
Then pick one specific topic for the meeting and be prepared to take notes.
If the meeting goes well and you both seem to be able to communicate, then follow up with a thank you email and perhaps a gift and ask if you can meet again to follow up on your conversation.
6.
How do you seal the deal? Remember, this is a commitment of time on both of your parts and there has to be a mutually agreeable arrangement.
I other words both sides have to get something out of it.
On your part the "get" is pretty easy to define.
You're getting the experience and advice of someone you respect to further your business goals.
For the mentor, it may simply be the satisfaction of helping shape another business.
However if he or she wants compensation, and you think it's worth it, draw up a formal agreement.
7.
Don't be afraid to grow Your mentor will be an important part of your business but if you are fortunate to expand the business to the point that you exceed the mentor's ability to help, don't be afraid to find another mentor who has broader experience.
Your existing mentor will realize when he or she has reached the limits of their ability to help and will encourage you to find somebody else.
Business mentoring can be a very personal thing or it can be strictly business it just depends on what you and your mentor are comfortable with.
A mentor can be the much needed "sounding board" that the self employed sorely need but often lack.