How a mentor can benefit women in business

By Joanna L. Krotz

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When you're working on your own, you still need help ramping up your business and avoiding common errors.

"One of the pitfalls of being home-based can be isolation," says Jeanne Hurlbert, who coaches women entrepreneurs and teaches at Louisiana State University in Baton Rouge. "Home-based business owners need to make social network connections every bit as much as other business owners, but need specific strategies to do so." Finding a mentor is a good way to get started, she says.

Mentoring is more than friendly advice

The mentoring relationship is perfect for a small-business owner because it is flexible by nature. You can have regular meetings with specific session lengths, or you can simply arrange a schedule of phone calls. Your mentor may be paid or unpaid. You can have one mentor or several, depending on your needs and a mentor’s expertise or availability.

But in every case, mentoring is a formal agreement between a protégé and a business guru. A mentor is in essence a coach; you and your mentor should agree in advance on how you will monitor progress. Both people understand that the relationship is about advancing the protégé’s interests and goals, and not simply an excuse to ventilate or complain.

The premise of such relationships is that the mentor has been there and done all that. In theory, your mentor is a business veteran who knows, viscerally, what it feels like to walk in your shoes.

You, as protégé, agree to heed the advice and to work at change. This is no easy task. If you're unwilling to take action, then you're wasting your mentor's time (and your own) and should just move on.

Mentors provide objective, big-picture tools

Carol Stevens, who runs a marketing firm with her husband in Rye Brook, N.Y., regularly invests in 30-minute phone mentoring sessions twice a month. She works with coach Lorin Beller, whose Big Fish Nation program, based in Austin, Texas, is geared to women business owners.

"Most people don't plan," Stevens says. "They run their businesses from day to day. But the coaching forced me out of my comfort zone and into thinking about how I would improve my role, and work toward a goal of growing the business. The time I spend with Lorin is invaluable."

In addition, since her husband is also her business partner, their relationship can be tricky, she says. "I always have Lorin to turn to as a calm third voice in the mix."

How to find a mentor

Finding the right mentor match for yourself can be the hardest part.

"Start with someone you know or have previously worked with," says Galia Gichon, a personal-finance consultant who worked with a mentor in her field to launch her New York-based business. But she also recommends finding an expert from another industry. "Speaking with someone in a different industry can bring a fresh perspective and then you're not dealing with competitive issues," she says.

Once you've identified your potential mentor, think about the appropriate approach. Few busy, successful experts will sound warm to your direct request for mentoring. It's too much of an upfront commitment.

Instead, invite the expert out for a coffee or a lunch. Explain that you'd like some advice or brainstorming on a business topic he or she knows about. If it's someone you don't know, ask a mutual friend or associate to introduce you.

After that meeting, both of you will have a better idea about whether there's enough common ground to pursue the relationship.

How to judge the fit

The next step, of course, is to determine if you can work with that person.

"The natural tendency is to zero in on chemistry when meeting with prospective mentors," says Lois Zachary, author of "The Mentor’s Guide." And certainly if chemistry is lacking, it will be hard to develop enough rapport for a successful outcome. But chemistry alone won’t do the job.

Zachary suggests you also consider whether the mentor can:

• Challenge your thinking and raise the bar for your development
• Offer the expertise, experience, time, and willingness you need
• Make you comfortable enough to learn from him or her

 Tip   These three free resources can help you find and choose a mentor:

• SBA Women’s Network for Entrepreneurial Training
• MicroMentor
• Athena PowerLink

Dos and don’ts

Once you have a mentor (or two), experts say this advice will help you get the most value from the experience.

1. Set a formal agenda.   Many protégés and mentors write down goals and expectations. If that’s too formal for you, at least discuss beforehand exactly what you expect and want to achieve.
2. Consider their network.   Some high-level mentors may be able to open doors for you. Think about how she or he might further your business, whether by introducing you to VIPs in your industry or giving you credibility.
3. Be selective about your problems.   Don't dump all your challenges into your mentor's lap. Focus on the big issues and the areas of experience you lack.
4. Get to the next level.   Mentor relationships aren't only for newbies. They can be invaluable for taking business to the next stage of development.
5. Give back.   Offer to help when you can. Mentoring isn't just a one-way relationship. There are likely skills or knowledge that you can share with your mentor.
6. Have an exit strategy.   The key to successfully ending a mentoring relationship has several components, Zachary says. First, you need to process and apply the lessons you've learned. Next, acknowledge and celebrate your success with the mentor. Last, make sure to talk with the mentor about how the relationship will change. This could mean that you remain friends or colleagues.

   That's when you know it's time for your next mentor.

By tapping the special skills and experience of a simpatico coach, you can definitely build your business more quickly.

About the author   Joanna L. Krotz is the founder of Muse2Muse Productions, a custom content company for business and consumer magazines, newsletters and digital imprints. Krotz has launched marketing Web sites and e-news portals, as well as created magazines and online marketing for a variety of companies. She is co-author of The Microsoft Small Business Kit, a 500-page guide to launching and running a small business.