How to Find and Benefit from a Business Mentor

If you are a small business owner, having a mentor in your corner could make the difference between surviving and thriving. Connecting with an experienced business leader who’s already experienced many of the highs and lows of entrepreneurship is valuable. Mentors are sounding boards for new ideas, they provide accountability, and they can help you reach your goals.

Although mentorship is a powerful resource, many don’t know the benefits of mentoring or how to connect with someone who’s a good fit. for you In this article, we’ll explore the entails of a business mentorship relationship, its benefits, and how to find and connect with a mentor.

What is a Business Mentor?

A business mentor is an experienced and trusted advisor who works with their mentee to help them develop and improve their business.

Business mentoring differs from coaching or consulting, which are more transactional relationships between a client and an advisor. Instead, a business mentor is a peer to their mentee. However, the mentor may have decades more experience or be further down the entrepreneurship path than the mentee.

What Do Business Mentors Do?

Mentors provide guidance to mentees based on their own business backgrounds and experiences. Acting as guides, advisors, or supporters, mentors meet regularly with their mentees to help them navigate challenges and opportunities.

Mentors’ accountability, encouragement, and motivation help mentees improve their business outcomes, balance their work and professional lives, and help connect them to new opportunities.

Mentors might have highly specific knowledge of a niche industry and share tried-and-tested strategies with their mentees. Connecting with a business mentor could also lead to more networking opportunities and industry connections as mentors leverage their networks to help mentees.

In summary, mentorship is beneficial for small business owners because mentorship can help in the following ways:

  • Mentor expertise can accelerate a mentee’s learning curve and help them avoid common mistakes and pitfalls
  • Mentors give small business owners a sounding board for new ideas
  • Mentorship offers perspective on business growth, strategies, and success
  • Mentorship can lead to new opportunities by leveraging networks, connections, and referrals

How Do You Get a Business Mentor?

Mentorship is hugely beneficial for small business owners, but how do you find a mentor? First and foremost, a mentorship is a relationship.

It’s good to build relationships with potential mentors organically before formally asking for mentorship. You can build relationships by networking at:

  • Networking events
  • Industry events
  • Business association events
  • Conferences
  • Alumni networks

Read more: Grow Your Business by Attending Networking Events

You can also approach a seasoned business owner or entrepreneur that you admire and introduce yourself. Remember, there’s a relationship between mentor and mentee, and you should offer something of value as a mentee to reciprocate their time, energy, and expertise.

You could offer to help with a project and share your skills or perspectives. Showing that you’re willing to contribute will make you stand out.

If you struggle to find and connect with a mentor, you may consider mentorship resources as an alternative.

Mentorship Resources

Many organizations offer mentorship in BC, especially to entrepreneurs who belong to equity-deserving groups.

Small Business BC is Here to Help

SBBC is a non-profit resource centre for BC-based small businesses. Whatever your idea of success is, we’re here to provide holistic support and resources at every step of the journey. Check out our range of business webinars, on-demand E-Learning Education, our Talk to an Expert Advisories, or browse our business articles.

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