True Business- real life for small businesses

I’m a big fan of Twitter. What I love about Twitter is that it’s like a Reader’s Digest of clever people: lots of good advice neatly compressed into five minutes of reading. And, because I’m pretty busy, that’s a good thing.

However, not every piece of advice posted to Twitter is particularly good.

One of the people I follow on Twitter pointed me to this posting; which apparently offers some advice on getting a good mentor. Not only does it not do that; but the advice is pretty random. I thought I could do better. So here are my thoughts on finding a mentor.

1. In case the term is completely new to you, a mentor is someone who can help you start or run your business, by giving you the benefit of their advice and experience. Experience is the key word: mentors are usually people who have been there, done that, bought the T-shirt and washed it a few times. Mentors are usually therefore older, and wiser.
2. Mentors don’t charge. Please remember this: a mentor helps you because they enjoy your company, want you to succeed, and will take personal pleasure in your success. People who charge you for their advice are called consultants, and they are usually bloodsucking leeches who don’t take responsibility for their advice. Harsh words, but I have never found this to be false. If you can find a consultant who promises that if they’re wrong you’ll get your money back plus reparation for their mistakes, I’ll buy you lots of beer. After all, if a consultant had all the answers, why aren’t they prepared to commit to your business for just a share of profits?
3. Most mentors will happily help you for nothing – see above. However, you should do the right thing and reward them with a shareholding or similar thank-you for their time and effort when you do become successful.
4. A mentor should help you with the things you’re not very good at. And we’re all useless at something. If you’re a great salesperson, you probably don’t like boring stuff like managing the finances. If you’re great at raising funds, you probably don’t like the hard grind of delivery. Your mentor will be able to help you avoid the pitfalls which we’re all more likely to fall into when we’re dealing with areas of the business which we least like.
5. See your mentor regularly – once a month will do; much less and he or she will be too disconnected to the business. Your mentor needs regular updates. See them away from the office, so that both of you are relaxed. A civilised lunch will do nicely.
6. Be honest with your mentor. If you sugar-coat the situation with your mentor, you will get absolutely nothing out of it. He’s there to help solve your problems, so be honest and open about what they are.
7. Mentors are everywhere. I know several entrepreneurs who swear by the advice they have received from close family and friends. I have chosen to work with several people who I class as mentors, who as well as being business partners in one venture have been kind enough to offer their advice on others. A good team – mentors included – is at the heart of a great business (and I can honestly admit that I started out as a ‘do it all yourself’ person; which was a very bad move indeed).
8. A mentor who understands your business is a potential goldmine. Businesses are not all the same – not by any means. Selling clothes is totally different from selling double glazing, for example. Find someone who has been successful in your field if at all possible.
9. You have to get on well with your mentor. It is a business relationship second, and a personal one above all. If you don’t feel an instant positive connection, it doesn’t bode too well for the future.
10. Observe a little courtesy. Email them regularly to say hello and update them. Invite them to your socials and office parties (I have noticed that mentors get a lot of interest at these things: the grandad figure who turns out to be both genial and genius). Confirm all meetings, and give them bullet points in advance so they know what you want to discuss.

Filed under: people skills, tips, top ten | Tagged: business, business advice, consultants, entrepreneur, entrepreneurship, find a mentor, mentor, mentorship, run a business, start a business, twitter