Small Business Mentor...Luxury or Necessity?A small business mentor, mastermind group, or even a small business consulting professional can make a huge difference in the success of your business... that is, if you pick wisely! When we started our business, I believed the grand visions of my partner. After all, I knew nothing, he was teaching marketing. I hadn't ever been in business, he had some experience and, of course, as my husband, I loved him and respected him... And trusted him. (I should have stopped at the first two!) He did the business plan. He did the market research. He did the financials. He did the writing, the comments, the concepts. And I accepted his work as I focused on producing the programs. (I should have created the business plan with him!) We knew we'd need small business accountants and lawyers, but never actually thought of a small business mentor. Yes, we'd been trucking our dog and pony show around the country, looking for... well, maybe it was approval. Feedback, certainly. Input, definitely. Mentors/Masterminds Are a Check & Balance SystemA small business mentor might have questioned some of the grandeur of the plans. A small business mentor might have seen that we'd fallen in love with our idea and that it was clouding our vision. A small business mentor might have provided some sorely needed objectivity. (Questioning the plan meant I was questioning my husband and our relationship - or so it felt to me at the time.) Without a small business mentor or even an informal mastermind group, we were a loose cannon. The products were great, but the plan was weak. Without a clear actionable plan, we found ourselves firing randomly, doing direct selling, appearing at trade shows and networking online - great, but not systematic, not tracked, not monitored - and not the basis for an organized small business venture. I participated in a government-sponsored program for business beginners. The "graduates" formed a mastermind group with the objective of mutual small business consulting. The great thing about that particular mastermind group is that everyone was there for similar reasons, usually in a safe, non-competitive environment. The limitation was that in some ways, we were the blind leading the blind! (A more formal mastermind group would make sense too - but that would come down the road a bit.) It did provide accountability, camaraderie and some sense of purpose and continuity. But the focus was on products and services, not on business management. So we needed something outside of ourselves. The truth of the matter is, that regardless of the product or service, your business has the same general business characteristics as the gas station down the road, the local pizzeria, or even your dentist's practice. So once you look beyond your wonderful products (as one mentor asked - you're making products, are you making any money?), you start to see the other mountains you'll need to climb: marketing, human resources, finance and administration, operations... Fortunately, for every area of need, there are several types of small business consulting services and specialists available to you, some more specialized than others. Finding the right one at the right time is key. How to Get Started With a Small Business MentorSo where do you get one of those specialized small business mentors? For me, it began with that mastermind group. My first advisors were the government- and corporate- sponsored business development offices and programs. They help local micro business get off the ground with the basics - and many provide small business consulting as well. Why? It's in their best interest to keep your local business alive and happy so that ultimately you might hire other local people... inspire other local businesses, buy products locally... you get the idea. Start with the people you know - and the people they know. A small business mentor may not have worked in your particular industry, but could have extensive owner/operator business experience, financial acumen, marketing expertise... My StoryIt took a long time before I was able to articulate what I wanted at the time - a business DADDY. That came from my image of my father, an entrepreneur in the textile business - a negative, opinionated, somewhat cautious and quite street-wise business player. Whenever I went to him for advice, he managed to pinpoint the flaw, the hole, the hurdle, which I might never have seen until after the fact. I wanted one - and my father wasn't volunteering. So there we were, interviewing a new small business accountant. In describing our business, he says, "You must meet Richard". And with that, the meeting ended, with a plan to meet Richard. Richard became my personal small business mentor for years. A small business mentor is usually someone who's gone through the forest before you and is willing to guide you through his footsteps. A mentor is often in a position you'd like to be in and has the clout and connections to guide you to a similar position. He or she is someone you probably have unusually good chemistry with who will share stories with you of his or her own climb to success. Where a typical network contact might be associated with quick intros and exchanging business cards, meeting a mentor likely involves lengthy conversations and brainstorming sessions. Richard is an eclectic, experienced, creative, brilliant negotiator, looking for the right place to focus his energies. It wasn't about money, although I tried to give him consideration for the work he was doing. Lunches. Lots of lunches. In return, Richard provided detailed feedback and analysis of various relationships, potential relationships, documentation we were composing, strategies we were developing... and a sounding board. (And since I was in partnership with my husband, a valuable mediator from time to time.) Are you looking for a boost in your working life? Find yourself a mentor — or let one find you. A mentor can guide you, help you, take you under his or her wing - with a long-term commitment and a deep-seated investment in your future. What to Look for in a MentorWhat characteristics are you looking for in a mentor? What skills would you like to develop with your mentor's assistance? Some people have more than one mentor - or "serial mentors," with whom you have shorter-term relationships. It's a good idea to choose someone working in the same functional area as you are, as well as someone who shares your values. Professional organizations in your field can be excellent sources of mentors. Test the waters by asking their advice. Mentorship is a two-way street. A mentor wants to work with someone they can respect and be proud of. Mentorship is especially productive when the mentor believes they can learn from the protégé too. If you're a first-time entrepreneur, you are going to have a lot to learn from any mentor. You want to be compatible, but it doesn't have to be a lifelong commitment. If you've already started your business, it's more important to get a mentor and get started than it is to focus on searching right now. As your business takes shape, you can move on to another mentor. On the other hand, you may already have a much clearer vision of how a mentor can help you. Look for a positive, upbeat attitude — someone who will become invested in and celebrate your success. Avoid a mentor who is too controlling, judgmental, or a know-it-all. They may even want to mold you in their image - fine, as long as you both agree with that goal. Mentors are most likely to invest themselves in those in whom they see a little of themselves. So do some sleuthing to see what they're like - then plan to reveal as much of yourself as possible so you can get the relationship going. Here are some qualifies you may want to look for:
Prepare your questions carefully, so you can get a sense for what they're about. If you like their responses, you may want to propose a mentorship relationship, e.g., "I really appreciate your input, and I'd greatly value it on an ongoing basis. Would you be willing to meet with me again next month to follow up on what we've discussed today?" Send a thank-you note and perhaps a gift. Take action on their suggestions, then call to discuss the results. This is a great time to request a second appointment (assuming you're still interested). When you next meet, spell out your goals and expectations, as well as your commitments to each other - in writing! Discuss mutual expectations: how it will work, what it will look like, and how often you'll communicate. You may want to agree at the outset that either of you can end the relationship any time with no hard feelings. Set boundaries relating to confidentiality, time commitments, and the areas you mutually feel the mentor can most help you with. Nurturing the Mentoring RelationshipThe payoff for a small business mentor is the feeling of helping a protégé, making a contribution to your business and your life. As you work with your small business mentor, let them know how much you appreciate and value their guidance - even an occasional gift, flowers, or picking up the check at lunch. Be careful not to demand too much time and attention or become overly dependent on your mentor. You could plan monthly meetings with regular e-mail and phone contact, for example. You'll know if the mentoring relationship is working if your mentor encourages your goals, provides honest and constructive feedback, helps you develop self-awareness, challenges you to grow beyond your perceived limitations, introduces you to movers and shakers, motivates you to join professional organizations that can help you advance, and above all, listens to you and is easy to communicate with. And when it's time, Grasshopper, the relationship will wind down. That happens as your knowledge and experience broaden and develop in a different direction from your mentor's. The relationship continues to be social and respectful, while the guidance aspect gradually fades. Here are few resources for finding a small business mentor for yourself: Top of Small Business Mentor page
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