Getting informal about mentorship

“In a formal mentoring situation there can be pressure to create that connection,” she says.

“I went through four coaches before I found the right one. Just because someone is a good coach doesn’t mean they will be a good coach for me.”

“It’s all about finding someone you trust and it’s important to be honest with yourself about whether you feel you can trust the person or not.”

“There’s no point being partnered with someone who is just not right. If you do find someone you really do trust the relationship will be much more fruitful.”

Taking your time

Byron Teu is the founder of Sentralize.com, which sets up websites around a theme and then aggregates online information about the topic.

He agrees with Bailey that finding the right mentor can take time.

“In my experience, the process of finding the right mentor can be a long one,” says Teu, who was able to find the right mentor in January 2010 through a more formal channel, Business Mentor Services Tasmania, a state-government funded mentoring program to help Tasmanian start-ups identify a mentor.

Through the program Teu says, “my co-ordinator found the right person for me, but it took awhile – about six months to locate the right mentor who also had time available to mentor me.”

It’s also important, says Teu, to find someone who actually wants to mentor you.

Because he runs a tech start-up, Teu was looking for someone who had previously run a successful start-up, but wasn’t able to find the right mentor with those credentials.

“My mentor is the CEO of a technology company, but he has never run a start-up,” he says. “But he is in the technology space, which is important.”

In terms of frequency of contact, Teu says: “Initially we had regular catch-ups once a fortnight, but we now meet once a month or once every couple of months.”

“The amount you meet up goes back to choosing the right mentor in the first place. I also refrain from contacting him with my problems – I try to solve them myself.”

“We also set clear ground rules at the start – my mentor has been able to open some doors for me, but I have had to walk through them. That’s what we established at the start and that’s how it remains.”

Interestingly, Teu says trying to find a mentor in the usual places, at trade shows or conferences for example, sometimes isn’t the best approach.

“It’s good to network and do your research at those events, but potential mentors are usually being bombarded, so it’s a good idea to contact them outside those events,” he advises.

How many is too many?

In terms of how many mentors you need, Phaedon Stough, founder of recruitment firm Mitchellake Consulting and chairman of start-up incubator Pollenizer, says it’s a good idea to have a number of different ones with experience in complementary areas.

“No one person has all the answers,” he says. “The key to finding the perfect mentor is to pick and choose people with relevant, real-life experience in areas that can help your business grow.”

“I’m lucky, because being in recruitment I’ve been exposed to a broad selection of mentors who I’ve been able to work with in a more informal way.”

“What you don’t want is someone without real experience. I’ve seen mentors who talk about theoretical experience, which isn’t really of much value. You need to find someone who can talk to you about what actually happened to them, especially what they have learned from past mistakes.”

“It’s all about the mentor being able to be bluntly honest and put all their cards on the table. And if you can do that, chances are the entrepreneur will accelerate much more quickly.”