Finding and Working with a Business Mentor

Learn from successful business owners with free counseling
By Constance Gustke Sometimes, as a business owner, you can feel like you have no one to turn to for help. You can't always approach your employees for help with big decisions – and they're not likely to have the experience to help you find the right answers. What you can do is develop a relationship with a business mentor, a successful businessperson who has already been through the growing pains of starting and running a business. Mentors can offer many advantages, including:

1. Free counseling.
2. The opportunity to learn from someone else's successes and failures.
3. Unbiased feedback.
4. The ability to tap into their network.

Know why are you seeking help

Your first task is determining what you want to accomplish with the mentoring relationship. If you want to improve your personal skills, take an inventory of your weaknesses and strengths. If there's a specific area of your business that needs improvement, decide to focus the mentoring relationship on that.
Try:  Assess your skills in a variety of areas, such as marketing, administrative, sales and financial management at ACINet.org.

Start the search by networking

Finding a mentor takes legwork and lots of networking. Good places to search include industry trade associations as well as your local Rotary Club, Chamber of Commerce or SBA Small Business Development Center. Ask for referrals from friends, colleagues and other successful people in your community.
Try:  Find free counseling at an SBA Small Business Development Center near you. SCORE gives free online mentoring; review its "60-Second Guide to Finding a Business Mentor." Women can find a list of formal business mentoring programs at the National Women's Business Council. Members of the National Association for the Self-Employed can choose an online consultant in the specific business area where help is needed.

Choose a mentor

Make a list of your top candidates. Then call or write them to set up a meeting. Take a short list of key questions to ask during your meeting that test your compatibility. For example, ask your prospective mentor about his or her work history, goals and successes. Later, note how comfortable you felt asking questions or sharing dreams. Once you've decided on the final candidate, ask if he or she is available on an ongoing basis.
Try:  Find resources to help you choose a mentor at AdvanceMentoring.com, a service that helps locate business mentors.

Forge a strong relationship bit by bit

Commitment and consistency help build trust. Discussions should be held regularly, and they should include updates on your progress, as well as focusing on short and long-term goals. Come to meetings prepared; bring a laptop or some other recording device. Review the status of your action list before each meeting.
Try:  Discover how to create a mutually rewarding relationship at About.com.