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5 reasons to find a business mentor

05 October 2018

Whether you’re starting your own business or managing a successful one, finding a business mentor is always a good idea. With a business mentor, you have the opportunity to learn from someone who has been through similar challenges to you.

The mentor / mentee relationship

Typically, the mentor has more experience in a given area than the mentee, and can offer insights from their experiences. The mentor benefits by giving back to their business community, and the mentee (the person who receives the mentoring) benefits by receiving wisdom and lessons learned to apply in their business. Depending on the relationship, the mentor and mentee may meet once a month or every 6 months.

We think it’s a great idea for business owners to have a mentor. Here are 5 reasons why you might consider a business mentor.

Learn from an expert

Imagine what someone with 20 years’ experience in your industry knows. If you face a challenge, you can be almost certain someone with that much experience would have great advice on what to do.

Make industry connections

A good mentor will know hundreds of people in your industry, and can make warm introductions for you. Whether you are starting out, or have a few years into the business, an introduction from someone with an existing relationship can make all the difference.

Gain confidence in your decisions

Your mentor has your best interests in heart, and can give you the confidence you need to take that extra step and go outside your comfort zone. You can run new ideas by your mentor as a sounding board, and flesh out concepts until you feel ready to share them with others.

Identify your growth areas

When someone knows you well, and they have a lot of experience, they can tell you what is easy and a stretch for you. They may suggest exploring other personal or business growth areas to ensure you have a solid foundation of experience for the future.

Pitch to perfection

If you go up for funding or put forward an innovation to an investor, you can run your pitch by your mentor and ensure you’re on the money. They can give you constructive feedback on how you can improve your communication skills, body language and presentation content.

How to find your business mentor

There are a couple of ways you might find your business mentor. These include:

Networking events and workshops (such as Westpac’s Ruby Connection)

Existing industry contacts

A mentoring service

Be confident and clear when you approach your desired mentor. This will make a great start to the relationship.

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