How to Find a Business Mentor & Why Every Entrepreneur Needs One

Whether it is your first time being an entrepreneur, or you are working on a new venture, a business mentor can be a great help, and knowing how to find a business mentor is a big plus. In fact, you may need a business mentor during the first few years of your business’ life. Or, maybe you can start without a mentor, but you need someone to turn to for advice and support when it’s time to take your business to the next level.

A good mentor is someone who has been there before; is experienced, successful, and can provide you with clear guidance to help you make an informed decision about your business, i.e. laying a strong IT foundation for your business, reinventing the business model,

Business mentors are experienced fellows with practical experience, knowledge, and insight into the business landscape along with motivation and leadership skills to help others along their journeys. How to find a business mentor is, however, a tricky process.

how to find a business mentor

Why Mentorship is Important in Business

There’s no hard and fast rule that states you absolutely need a mentor for the success of your business venture. You can still do very well for yourself without an “official” mentor around. But having one can be a big advantage.

So Why are Mentors Important in Business? 

Well, business mentors as they have experience, knowledge, insight, and leadership skills can help young and newbie entrepreneurs with multiple perspectives to solve problems, and reach their business goals in time or even earlier.

A mentor with his expertise can help to shorten your learning curve, identify opportunities and grow yourself professionally. And, so you can make complex business decisions with confidence. 

A good mentor can also help a budding entrepreneur think through strategies, process the numbers faster, and create a solid business plan. In a nutshell, a well-connected mentor helps an entrepreneur in the right direction.

How to Find a Business Mentor?

It takes years, and sometimes a lot of money, to gain the business experience to run a successful company. By having a business or a startup mentor, you aim to draw on that experience right away.  

Though you can find business mentors who do not charge a fee, however, mentoring is not always free and cheap. Depending on your business model and the kind of support you require, you may be charged $50 to $3,000 however, $150-300 per mentee, in general, is a good deal.

Consider the following points to consider when you are looking to know how to find a business mentor.

  • Try utilizing free business mentor organizations such as SCORE that offers free and confidential counseling, mentoring, and advice to small business owners across the US through in-person and online mentoring.
  • MicroMentor is another free online mentor service that connects small business owners with business mentors. 
  • Look for mentors within your network. Any successful family members or members of the business community you personally know and admire or aspire to become can be your great mentors.
  • Do not hesitate to contact someone in your previous employment who you respect and value for their business insight.

The Bottom Line

Business mentoring has a lot of advantages and can do wonders, however, finding and getting the right business mentor is the key. Moreover, you must know that mentoring requires open and clear communication; find a balance between being too shy and too aggressive and demanding with your mentor. Each mentoring relationship is unique; you must respect each other’s contribution to this relationship, but also know when you need to change the relationship and move on.

I am sure, with the above guide you are sure how to find a business mentor.

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