How to maintain a good business mentoring relationship?

- BY Akshay Arora
Feature Writer, BusinessEx
- |
- Jan 20,2018
- |
9 Mins Read
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 what’s right for business success but entrepreneurs at their initial stage think that they know what’s 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 entrepreneur’s confidence and determination towards the business. You need to be an entrepreneur that means risk taking, communicative, strategic, innovative, etc in order to gain mentor’s 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.
More from Akshay Arora
5 C’s Entrepreneur must be aware...
Getting a Loan is a difficult task so one must be prepare...
July 11, 20173 Min Read
What incubator provides startup...
Startups need incubators for their overall development...
January 10, 20183 Min Read
When Is Debt Better Than Investment?
An entrepreneur must consider lending as an option...
January 17, 20183 Min Read
8 Food Business Ideas Pick Up Steam...
Seeking business opportunity in the food industry then...
January 18, 20183 Min Read
How online networking helps small...
A one stop solution for all business related problem...
January 22, 20183 Min Read
Why invest in the leisure and entertainment...
Investing in the leisure and entertainment industry...
January 23, 20183 Min Read
Why you should invest in a startup?
Investing in a startup is the fastest way to get a...
January 24, 20183 Min Read
When is the right time to exit...
Starting a business is not a child's play so it is...
January 29, 20183 Min Read
6 mistakes to avoid after raising...
Entrepreneur makes mistakes after raising funding which...
January 30, 20183 Min Read
What Startups and SMEs can expect...
Let's see what experts have to say on this year budget...
January 31, 20183 Min Read
Union Budget 2018: Highlights for...
Union Budget 2018 has revealed some policies that impact...
February 01, 20183 Min Read
5 things good mentors do differently
An entrepreneur seeks the support of a mentor in the...
February 05, 20183 Min Read
Recommended for you
- September 30, 2021
- September 07, 2021
- August 11, 2021
Latest News & Articles
- July 11, 2017
- January 10, 2018
- January 17, 2018