Journey of a Serial Entrepreneur

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How to get from where you are to where you want to be

Planning for a Mentor

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.” Stephen A. Brennan

Before you set out to find your mentor it is best to first develop a plan determining why you are getting a mentor and how you aim to benefit from this relationship. You have to understand that you want a favor from an individual who has little time to give . Keeping that in perspective, build a value proposition for them which clearly outlines what you are looking for, what sort of commitment is required and how both sides can mutually benefit from this relationship. Break it down to these 3 broad working categories .

1. Outline what you are looking for: This section requires you to clearly define the business that you operate in, it does not have to be a perfect model. Defining your business model is what you may want the mentor to help you with. The whole concept of this section is to help the mentor understand what you want to accomplish and your methodology for reaching those goals. Once you have outlined your objectives you can pinpoint certain segments where you require help. It could be with your business mode, sales, human resources, IT or just about any other part of your business you are having trouble with.

2. Outlining commitment: Keeping in mind that time is a scarce resource for mentors you need to clearly define how much time commitment is needed from them. It could be a telephone call once a year or it could be a 2 hour breakfast meeting every Saturday. Like all deals there will be negotiations and you will arrive at a commitment level which should be mutually acceptable to both parties.

3. Mutual Benefit: This section will differ from mentor to mentor. I have come across mentors who have helped me in the past in return for nothing, it was their way of giving back to society. Others have asked for certain monetary compensation while others have even requested for equity. The level of commitment really plays a key role in this section. If you want the mentor to give substantial attention to your business, you will have to come up with a situation in which both sides will be content .

Once you have all these sections planned you will have a clearer idea of what sort of skills your mentor needs to have, what level of commitment does he/she needs to give to the business and how you are going to make it worth his while. Now you are ready to go find yourselves a mentor!

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One Response

  1. […] ask for it you know ‘why’ you are asking this. To learn more on how to plan this, click here. 2. Finding a mentor: This is the hardest step in the entire guide. All good things in life […]

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