Seek Out the Best Mentors and Jump Start Your Business Dream

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You got the startup dream–whatever it is… it seems huge. gigantic. overwhelmingly difficult… you’ve never done anything on this scale before. Now what? How do you move forward to make it a reality? The answer is simple… find someone who has excelled in this area before and ask them to mentor you, to teach you all they know, and walk you through the steps.

How do you find the best mentor?

Honestly, if you’re on the right track, the right mentors will present themselves when you ask to be taught. This has happened to me over and over again. In my present experience with competing for Mrs. Utah in May I was shocked after I announced here on Startup Princess that I was competing and a blog comment showed up saying that if I wanted to meet Mrs. America 2002 he could arrange for an introduction. That resulted in a friendship with Laurett, who trained me in Las Vegas and gave me incredible insights I would never otherwise have had. So, be aware that mentors WILL show up for you if you ask for them. Never turn away a mentor, they might have the missing piece to the puzzle!

In search for a mentor, consider your circle of influence, the people you associate with on a regular basis and their unique and individual gifts, talents, and expertise. Start conversations about this here by commenting on Startup Princess, LinkedIn, Twitter, your Blog, your networking groups, etc. When you find possible mentors, ask them questions about their experiences (creating a product, starting a non-profit, etc.) When you find someone truly passionate about what they learned/experienced they will often be willing to share without pay initially because it is so fun to find someone who wants to follow this same path. If they are local ask them to lunch, call them for more information, or email them questions. If they don’t have time, I ask them who else they know who has interest and experience in this industry.

You can also find excellent mentors at small business development centers, colleges, and other business groups. Sometimes these services are free and can be very helpful as you identify if you truly have a winning concept and whether or not you should move ahead with your vision.

How much should you pay a mentor?

While some mentors are free, their “free” may be limited to only an hour a month and it may be difficult to get what you truly need from someone volunteering to assist you. I’ve had dozens of free mentors some better than others, you’ll know who you want to keep in touch with. Even just getting a name or a resource could be a huge gift from these types of mentors. ALWAYS keep their emails and numbers because these people are great for brainstorming or answering a quick email. For more specific help, developing the business plan, getting financials done… you’ll likely need to budget money for a paid mentor or coach.

Hiring a mentor is like going to school in that subject–you pay for the education, for their expertise, their experience and it’s worth it!

When you have a conversation with a potential mentor and you feel that this is someone who has the right background for your needs, it is absolutely appropriate to ask what they would charge to mentor you on a short term or long term basis. There is such a range in what people charge that you will have to decide ahead of time what their service/experience is worth to you and see if they can match that price.

I recently was able to negotiate with mentors for my pageant training because I guaranteed a certain number of hours. Don’t be afraid to ask if they can do it for less if you prepay for more sessions, etc. Also be aware that phone verses in person mentoring should be rated differently. There’s also some mentors who will do email coaching and that can be a more affordable option. I’ve also been able to get mentoring by offering product, services, advertising, etc. be creative! Great mentors who see you are serious about succeeding may be flexible.

How to Prepare to Receive Mentoring

Whenever I meet up with a new mentor I google them, I read about them in publications, I research their expertise so I know what they excell in and how they can best help me. When I met with Shawn Nelson Founder of Love Sac a couple years ago for lunch I realized it was a very rare opportunity and I wanted to be prepared and ask him the right questions that would help me with developing my startup Princess Sweet (which later I decided not to do).

ALWAYS be on time, be professionally dressed, and have an agenda of what you’d like to learn or get accomplished during that time. Ask them for assignments if they don’t give them to you and help you set realistic deadlines and hold you accountable to those commitments. Set another time to meet.

When are you “Finished” with the Mentoring Process?

The answer to this is simple–you’ll know. It will be time to put your head down and get busy in a pile of work… You’ll have confidence, you’ll have bounce in your step because you’re in control, you understand what the process is and how to proceed. You won’t know all the answers, but you’ll know where to find them or how to prepare for the next phase. After you’ve reached that stage, it’s time to find an advisory board!

What if you never feel “finished” with the Mentoring Process?

There is a common problem with people who start something for the first time who fear the “start” or don’t trust themselves and go from mentor to mentor to mentor trying to absorb their wisdom and expertise transferred onto them without moving into action mode… be aware, that if you keep talking about it or reading blogs about starting a business but don’t take the first step, you might be stuck. If this is you, identify what is holding you back and take a step forward.

Don’t fret, you’re not alone… in fact, I was stuck in this phase for about 18 months with Princess Sweet because I kept going from mentor to mentor trying to find someone who had an answer for how I could get funding for the biz, eventually I realized that I just needed to do anything, something to demonstrate I wanted to move ahead so I did a kiosk instead of a store. It was incredibly satisfying to see a glimpse of the dream even though I later chose to focus on Startup Princess because of zero startup costs and flexibility with my family! (something retail would never offer)

This Week’s Magic Wand Tip: To achieve the “dream” identify at least 1 mentor this week…take some time to ask them about their experience, any contacts or connections that may help you move forward.

How have you found your best mentors and what advice do you have for working with one?? Please share! Be sure to click on “commentluv” if you blog so we can link to your most recent post.

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