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Mentors: Where can an SMB find Inspiration

Many successful entrepreneurs can point to a special relationship they had with someone experienced in their field. As they achieved success, they had someone to turn to with a variety of problems, ranging from dealing with customers to managing their business to even finding time for their families.

Some mentor relationships are formal. In fact, some people are paid for their mentoring services. However, most are volunteers who are eager to share a wealth of their knowledge and experience. These experienced professionals can pass on sound advice that they may have received from their own mentors.

Where to Look for a Mentor
You've probably already received a great deal of free advice about setting up a small business from the people who've been around. Lawyers, insurance agents, bankers, board members, accountants and even your suppliers all have knowledge that's of great benefit to you. What turns a business associate into a mentor is one key action: you have to ask.

For some new entrepreneurs, asking for help is the most difficult step. If you come from a family culture in which admitting you don't know everything is perceived as a sign of weakness, then you're unlikely to step forth and say, "I could sure use your advice." In fact, that very statement can be the sincerest form of flattery. When established professionals are approached for mentorships, most are quite willing to share the secrets of their success.

Some people dream to have mentors of the caliber of Peter Drucker or Sam Walton. Certainly, being under the wing of a business celebrity can be exciting. Yet, mentors are all around you if you think about the types of problems you need to solve. In fact, you should consider working with multiple mentors to get a variety of perspectives.

"I don't have time to lunch with mentors and shoot the breeze," you might think. If that's the first thing that comes to mind, then you're not thinking of all the time you'll save by avoiding errors and getting rid of tasks that don't benefit your bottom line. You can share your problems and questions and go back to the office with renewed resolve and a more efficient plan of action. If you feel you're wasting your time, you probably don't have the mentor who's right for you.

Here are some mentors hiding in plain sight:

• retirees who may be neighbors or members of a community group to which you belong
• your own peer group
• a former professor or course instructor
• a former colleague or boss
• an interested customer
• a successful competitor who's willing to work for a fee
• your local chamber of commerce
• your own family: parents and siblings may have the information you need
• someone recommended by a friend or acquaintance.

The mentor relationship has become so important to success that organizations have sprung up whose mission is to set up formal mentorships. Some examples are SCORE (Service Corps of Retired Executives) and the National Association of Women Business Owners. Check their websites for contact information. Notice that some are staffed with volunteers while others charge a fee.

Working with a Mentor
Although a mentor is typically a senior advisor or supporter, (s)he can also be a teacher or a counselor. Every definition of a mentor carries in it somewhere, implicitly or explicitly, the notion of trust.

While a majority of mentorships go nowhere, those that have been successful have been based on openness. No one can open up to another person unless trust has been established first. Can you force yourself to trust someone? What attributes of a mentor should you look for to find someone you can trust?



Trust, then, isn't the only important characteristic of a good mentorship. While Merianne trusted David, she didn't feel she could open up about her concerns without a figurative pat on the head.

Qualities to Look for in a Mentor
Having some common ground with a potential mentor seems quite important. You'll want to work with a mentor who can feel your passion for your own business, while genuinely working towards your success. A lasting relationship depends on the mentor's enthusiasm as well as your own. This is not to say that you should choose a mentor who is in your own area of business. However, stay away from potential mentors who have little interest in your field.

Another factor that has impact on the trust relationship is the mentor's experience. If you sense from the outset that your mentor has lost touch with current trends, then you can choose to steer your questions into areas where he or she can really help you or you can hold out for someone whose experience is more recent.

Make time for your mentoring relationship. Consider it training and make it a high priority, with regular meetings. As soon as the little voice in your head says, "I don't have time for this," you're on your way to abandoning one of your most prized assets.

Be sure to look at the relationship from your mentor's point of view. Ask yourself, "What's in it for my mentor?" Surely a successful business entrepreneur isn't desperate for a free lunch once a week. Are you implementing ideas and giving your mentor credit for them? Are you appropriately grateful? Do you listen well and ask good questions? If so, the joy of seeing you learning and growing may be all that your mentor wants from the relationship. Asking outright what your mentor hopes to get out of the relationship may be a good way to start.

Areas of Growth
No topic is too small or insignificant for discussion with your mentor. While you may think you need help with getting organized or time management, you may really be feeling guilty about not spending time with your kids on weeknights. Experienced mentors agree: the first step is finding out what the problem really is.

Knowing the areas in which you need help is your responsibility. Be direct about asking for help. Personnel problems can bring your business to its knees. Problems with financing are also big. Your mentor may be able to give you suggestions about how to write a small business grant or introduce you to a potential investor.

If you know almost nothing about some aspects of your business like inventory control or marketing, don't be afraid to say so. Ask your mentor to recommend reading you could do or other people you might talk to. Ask your mentor where he or she sought advice when starting a business.

Knowing nothing at all about running a business shouldn't deter you. Your mentor can give you numerous examples of people who've been highly successful when the only business experience they had was a morning paper route at age twelve. If you know enough to seek help, then you do, after all, know something about running a business.

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