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How to maintain a good business mentoring relationship?

A good relation between mentor and entrepreneur builds the future of business so here is how to do it.
BY Akshay Arora
Feature Writer, BusinessEx
Jan 20,2018

The entrepreneur and mentor relation must be on good terms for all businesses in order to get the most out of the relationship. This relationship is beyond just give and take because a mentor act as a support to business and a teacher to guide on each and every step in business lifecycle. It is essential that this relationship is built on good terms for fruitful future of both the parties.

For startups, it is hard to find a good mentor and if they do then they find it difficult on maintaining a relationship. The major reason behind startup mismanaged relationship with a mentor is clashing of decisions, as mentors are experienced and they know whats right for business success but entrepreneurs at their initial stage think that they know whats best for their startup.

An entrepreneur needs to do the following things to build a connection with a mentor on good terms.

Same Target

This point means that the business and mentor objective should be the same so that both have a clear picture of the final result. It is a general issue that a mentor is working towards a different goal than the actual one. So a proper communication and understanding are essential to maintaining a good relationship between mentor and business.

Be Entrepreneur

A mentor sees so much in a business before actually helping them. The most important thing that matters for a mentor is entrepreneurs confidence and determination towards the business. You need to be an entrepreneur that means risk taking, communicative, strategic, innovative, etc in order to gain mentors interest. A mentor is an experienced player and knows the calibre of the person in one meeting then he/she decides whether to invest his/her time in the business or not.

Independent

You need to be independently making some decisions as you cannot rely on mentor for small decisions as well. It is essential that you take responsibility for your business and not be dependent for each decision on the mentor.

Keep up-to-date

Most of the mentors are not involved in the day to day activities of the business as they have their own thing going on so you must keep them up to date with the latest developments in business. This will help mentor to decide whether the business is going in the right direction or not and then he/she will be able to guide you the best.

Build Trust

This step is essential to maintain a healthy relationship with mentor. In this step all you need to do is stay honest with mentor even when you make any stupid mistake. A mentor is a teacher who teaches you even when you make mistakes. The trust must be there to maintain a good relationship.

Analyse

It is essential to build trust but also it is important to analyse the performance of the business and check whether this relation is doing any good for the business or not. If this relation is profitable for your business then stay put otherwise get out of this immediately.

Conclusion

The most crucial step for a good relation between mentor and business is to find a mentor who understands you and your business. If you are planning to get hold on to a mentor then the best way to do it is to search on online networking platform like BusinessEx. To find the right mentor for your business register now.

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