Mentoring is not intended to provide you with definitive answers or to tell you how to run your business. Rather, it is a resource for information and encouragement.
Entrepreneurs LeiLani Kopp and Tana McNicol found out first-hand the benefits of mentorship. Read story>

Mentor Exchange

Reap the benefits of experience!

Mentoring: It's the latest buzzword, and for good reason. Whether you're just starting out, or already running a business, establishing a relationship with a mentor can be one of the most valuable steps you take towards success.

What is a mentor?

Typically, a mentor is a counselor, teacher, or role model who has greater experience in business than you, and is willing to share that experience.

A mentor can be a friend, a business colleague or even a stranger, who can pass on valuable insights drawn from their own experiences and lessons, to help you make informed decisions. Mentoring is an educational process where the mentor provides opportunities for professional development, growth and support, and gives encouragement and advice to you as you plan and grow your business.

A mentor may or may not be in the same line of work as you, but they can share knowledge on such things as strategy, administration, marketing, trends, business pitfalls, and the list goes on. In the end, a mentor can help you save time and money, avoid mistakes and help assess what opportunities are best for you!

Peer-to-Peer Mentoring: Share as you grow

The peer-to-peer mentoring process is a little different from traditional mentoring. It a two-way exchange of information, where two individuals tap into each others' experience and abilities to learn. Both individuals are on the same level.

What a mentor is NOT:

A mentor is not someone who give free services for which they typically charge. For example, you wouldn't seek marketing consultant as a mentor to help you build your website, but that person would give you tips about what makes an effective website, and what to look for when hiring someone to build your website. Another example: you would not seek out an accountant for free advice about their business financials. Instead, you'd be seeking out the accountant for insight into how to set up a successful accounting business or what questions to ask when hiring an accountant.

Mentee Guidelines

A mentor-mentee relationship is a unique opportunity to learn about how to grow and thrive in your field of business, and to learn from the valuable experiences of others. Ideally a mentee should seek out a mentor in a similar but non-competitive business that can share their knowledge on such things as inventory control, suppliers, administrative systems, human resource issues or marketing ideas.

So how do you find a mentor? Number one rule: don't be afraid to ask. You'll be surprised by how many people are willing to help out. Successful business people are often happy to assist as someone they respect as a way to 'give back to' or make a contribution to their industry or community. You can make a polite appeal for a mentor among your personal contacts who are active or retired, or respected entrepreneurs in your community. You can also access one of the many mentoring programs offered through business networks such as those listed on the right of this page.

What do you say? When you make initial contact with your desired mentor, make your expectations clear. Politely communicate exactly what advice you want, and what kind of time commitment you think you might need. If you and the mentor decide you are a match, schedule short, focused sessions for a limited period of time. For example, a single one-hour telephone session may be all you need. Or, you might contact your mentor once a week, for an hour, for four weeks, every Monday at 3:00 p.m. You can do it by e-mail, phone, or over coffee. After your initial session(s) you can decide together whether or not to continue your relationship. Above all, be organized, follow through with your appointments and respect your mentor's time and generosity! Don't forget to send a thank you card when you are done.

Setting out the terms: Mentors want to help, but don't take advantage of their generosity, and remember to respect their time. When you make your initial contact with your mentor, set out clearly what you want from them, and what kind of time commitment you think you might need. Discuss whether or not you are an appropriate match. Then schedule short mentoring sessions for a limited period of time.

For example, a single one-hour telephone session may be all you need. Or, you might want to contact your mentor once a week, for four weeks, every Monday at 3pm, for 30 minutes. You may want to make contact by e-mail, phone, or over coffee.

The mentor may decide to continue mentoring you, or may have to limit sessions for any number of time-related reasons.

It is up to the mentees and mentors in this community to set their own terms of interaction. It is up to you as to whether or not you establish a relationship, how often you communicate, how you communicate, and on what subjects you communicate. This is a self-administrating program, so those decisions are up to you.

Mentor Guidelines

Alternatively, while business relationships may develop from some mentoring experiences, such relationships should not be the primary intended outcome. If you want to become a mentor, business development should not be the main motivation for doing so. Instead, your motivation should stem from a desire to support the mentee personally and in business development, and make a contribution to the industry or field in which you are involved.

As a mentor, you can decide how much time you are willing to commit and how you wish to make contact. A one-hour session by telephone may be all that is needed. Or, you may want to continue working with your mentee by e-mail or once a week for a half hour over coffee. How you arrange your relationship and schedule is entirely up to you. If you need to limit contact due to your schedule, communicate this information when a mentee contacts you. Discuss your mentee's expectations and determine whether or not you are an appropriate match. Then make sure you schedule your mentoring session, or sessions.

As a mentor, you are a volunteer and have no obligation to provide assistance for any reason. For example, if a mentee needs more assistance than you can provide in a volunteer capacity, you are welcome to refer her or him to other resources, including our business counselling resources at 1.800.643.7014.

A mentor-mentee relationship is a rewarding one for both parties. Good luck, learn ... and enjoy!