How to Find a Business Mentor (and Keep One)

Running your own business can feel lonely. There's no boss to check with, no coworker down the hall, no one to ask, "Is this normal?"

That's why a good mentor can be one of the most valuable people in your business life. They've already walked a version of the road you're on. They can help you dodge mistakes, think through big decisions and keep perspective when things get hard. You don't have to figure everything out alone.

Finding a mentor

Look at who's already around you

Many great mentorships aren't formal at all. Often, the person is already in your life: a former boss, a seasoned vendor you've worked alongside, a family friend who has run a business for 20 years, or the owner of a shop you admire. They may already be giving you advice without either of you calling it mentorship.

They don't have to be in your industry

A wedding planner can learn a lot from a successful caterer. An interior designer can learn from a contractor or a real estate broker. A florist can learn from any business owner who has managed seasonal cash flow. Sound business sense works across industries.

What to look for

• Experience. They've been in business long enough to have made, and learned from, real mistakes.
• Time and interest. Even the wisest person can't help if they're stretched too thin or simply not interested.
• Honesty. You want someone who will tell you the truth, not just what you want to hear.
• Patience. Good mentors explain things without making you feel small.

It's okay to ask

If there's someone you'd love to learn from, reach out. Keep it simple and specific: "I really admire how you've grown your business. Would you be open to grabbing coffee? I'd love to ask you a few questions about pricing." A small, clear request is much easier to say yes to than "Will you be my mentor?"

And don't be discouraged by a no. People are busy. Thank them and try someone else. You'll probably have several mentors over the life of your business as your needs change.

Keeping a mentor

Most mentors help for free, simply because they want to. Treat that as the gift it is.

• Show your gratitude. Pick up the coffee or lunch. Send a handwritten thank-you note. Follow up later to tell them how their advice worked out. People love hearing they made a difference.
• Do your homework first. Don't ask them to solve your problems for you. Come with your own ideas and specific questions: "Here's what I'm thinking of charging, and why. Does that seem reasonable?" (This pricing guide can help you prepare.) It shows you respect their time.
• Don't ask for their playbook. Asking for an opinion is one thing. Asking for every detail of how they run their business is another. If you need deep, ongoing help, offer to pay for a consultation.
• Be careful with pricing questions. If you're in the same field, asking "What do you charge?" can feel intrusive. Instead, share your prices and ask for feedback.
• Respect boundaries. They may be in a related business, or have information they can't share. Don't push.
• Give back when you can. Share their business, send referrals their way, or offer your own skills in return.

Build your whole support team

A mentor is just one member of your team. As you get started, it's worth getting to know a few other key people:

• A banker who understands small businesses, and a separate business bank account. Keeping your business and personal money apart makes bookkeeping far easier.
• An accountant or CPA to help set up your tax payments and keep you on track. Getting this right early saves a lot of stress.
• A small business lawyer to review your contracts and help you choose the right business structure.
• An insurance agent to talk through liability and business coverage. Event and design work carries real risks.

And there's one more expert many business owners wish they'd brought in sooner: someone to help shape their brand.

You don't have to do it alone

The best business owners aren't the ones who know everything. They're the ones who know who to ask. Part of what I do is act as a guide for new entrepreneurs, helping you get clear on who you are and how to show up so the right clients find you.

Want a partner in building your brand? Book a free discovery call and let's talk about where your business is headed.

Next in the series: Staying competitive, and how to keep your business growing year after year.