What is a Business Mentor? - The Benefits and Where to Find One

« Back to Articles

Over the last few years, we’ve seen a huge demand in support for business owners, with many now recognising that seeking help isn’t a sign of failure but a sign of caring about the overall success of the business. There are many different ways business owners can get the help they need, from business support groups to seeking advice online. Today, we’re going to explore business mentoring, what it means, the benefits associated with it and how you can find one.

What is a business mentor?

Simply put, business mentoring is a relationship between an entrepreneur and another individual with more entrepreneurial experience, who acts as a support network to combat challenges faced by the mentee on their entrepreneurial journey, typically over a long-term period. The role of a business mentor is to assist and offer direction to their mentees, helping them run and grow their business and encouraging them to develop the skills they need to be successful. The advice comes from the mentor's own knowledge and experience, which is extremely valuable. A good business mentor is prepared to share their expertise with their mentees, often having faced the same challenges in their lifetime, making them empathetic, trustworthy and reliable. Business mentoring isn't just advantageous for the mentee, with the mentor benefiting by exchanging in rich conversation, learning new perspectives and tactics from their mentee. This type of mentoring relationship can take place remotely or through face-to-face meetings, whichever is most convenient for both parties involved. Often, people perceive business mentees as junior or upcoming entrepreneurs, however, this isn't always the case, with many more experienced entrepreneurs seeking out the advice and guidance of someone in a similar industry.

Benefits of business mentoring

With mentoring the possibilities are endless, there is no downside to finding a mentor for both personal and professional development. Growing a business is every entrepreneur's goal, so let's address the top 5 advantages of having a business mentor help you on your journey.

1. They've walked the walk
One of the most notable and obvious benefits of getting a business mentor is that they've been there and done that. By having a business mentor who shares their knowledge and advice, you'll be able to learn from not only their past successes but also their mistakes. Learning from previous experiences means that they can relate to the problems you're facing, whilst working with you to create effective solutions.

2. A business mentor is a sounding board
One of the key responsibilities of a business mentor is being there to listen. A great mentor is there to challenge you and encourage you to come up with resolutions to any difficulties you face. By being there to listen to your ideas, you'll be able to think of new ideas whilst developing new solutions, at a much faster rate than doing it by yourself.

3. Opens networking opportunities
Networking is imperative to any business, no matter the size or industry. A business mentor usually has a wide network of connections, which grants you the opportunity to network with individuals you previously wouldn't have had access to. Business mentors have relationships with numerous CEOs and leaders within your industry, which means you can leverage your mentoring relationship to help you develop potential opportunities in the future.

4. They hold you accountable
Just because you have a business mentor doesn't mean all your problems will be magically solved. Having a thriving business requires hard work and determination, however, having a business mentor means you have someone to speak to about your goals, whilst being held accountable to ensure you meet them. Having someone hold you accountable for your own success is important because it motivates you, even on the days you don't want to face the world.

5. They challenge you
When running a business, it's easy to get sidetracked and settle. A business mentor is there to challenge you on your journey, giving you that boost needed to go the extra mile both personally and professionally. They challenge you to develop new skills that will be valuable for the journey, make you feel motivated and make sure you are on the right track.

Where to find a business mentor

So, you've read through this article and decided a business mentor is a good choice for you. But how do you even find one? Where do you even start? Listed below, are our 5 top ways to find a business mentor:

1. Networking events
Networking events are an excellent way to find a business mentor because they are intended to put individuals in contact with one another, typically people who work in the same industry. You can find local networking events near you with a quick google search. Remember, talk to as many people as you can, there's no doubt that someone will be able to help you.

2. LinkedIn
LinkedIn, if you're unfamiliar with it, is a social networking platform for professionals. Did we mention it's completely free? LinkedIn is one of the most popular ways to reach professionals within your industry. The platform allows you to search for people and connect with other professionals based on their careers and even location. Although it's not recommended to just ask anyone on LinkedIn if they can help you, firstly, you need to try and build a relationship with the individual.

3. Friends, family and colleagues
Sometimes, it's all about going back to the basics. The people in your life know you better than anyone, so simply asking them if they know anyone who could help you on your journey is a great start. Oftentimes, they know someone who they feel would be a great fit. Maybe their old colleague went on to run a multi-million-pound business, you never know who their connections are.

4. PushFar
PushFar is the world's leading mentoring and career development platform. Completely free to use, PushFar has over 65,000+ members looking to form mentoring relationships. The platform allows you to search for a mentor through the search functionality and provides you with automatic matches through advanced algorithm technology. Sometimes approaching new people can be a daunting experience, but, with PushFar you know the individuals are on the platform because they are looking to form meaningful relationships and help support an individuals development and growth.

5. Volunteering
Surprisingly, volunteering is a great way to form new connections with others in your industry or others with a specific skill set you're looking to attain. Every person you meet throughout your life will be able to teach you something you didn't know. The more you build your network, the more likely you are to come into contact with someone who can completely change your life and the overall success of your business. Volunteering also allows you to build a good reputation for your business whilst allowing you to give back to your community, no matter how big or small.

Final thoughts

Are you ready to take the next step on your journey? Now you know the benefits of finding a business mentor, there’s no surprise that you’ll want to have one in your corner. There are endless benefits associated with mentoring, from increased confidence to having a friendly support network. Finding the right mentor can take some time, but in the end, it's always worth it. To learn more about mentoring, make sure to visit PushFar - the world’s leading mentoring and career progression platform.