Select mentors to fill your strength gaps:
If your strength is technology, perhaps you need a business mentor. Friends, family and subordinates are not good candidates. It’s plausible to have more than one, but not likely that you have the bandwidth for more than two. Mentors tell you what you need to hear, while friends tell you what you want to hear.
Look for street smarts rather than book smarts:
Anyone with knowledge can help you, but real-world experience is usually the best teacher. Age is irrelevant, but, normally, experienced retired executives have more time and interest in helping new, aspiring entrepreneurs. Busy top current executives may be interested but not available.
Take your time to build a personal relationship:
Good chemistry is a key to a productive mentor-mentee relationship. Initial mentor exchanges should be face-to-face, rather than by email, texting or phone only. Full communication is critical, including body language and context, to build the trust and credibility required for maximum value.
Look for someone with a legacy of business success:
A renowned college professor or a brilliant psychologist may seem like a good prospective mentor, but these people can’t offer you the pragmatic advice and guidance you will need as an entrepreneur. Think about what you personally want to achieve in business, and look for someone who has already achieved it.
Find a mentor who is willing to learn as well as advise:
The healthiest and most sustainable mentor-mentee relationships are ones where each party adds value to the other’s life. Both people need to be genuinely interested in the other, and willing to share elements of their private lives as well as their business strategies.
Look for someone who has personal characteristics you admire:
If you are shy and introverted, for example, seek out someone who is an extrovert. Good mentoring is not limited to words and advice. Style and body language can be just as motivating and instructive. Observing habits that instill trust and credibility is a learning opportunity.
Develop and share your vision of what success means to you:
Choose a mentor who can relate to your own, personal vision. Some entrepreneurs want to be financially independent and others want to change the world, while others see “success” as a balanced family life. The best mentor must understand that equation, and align his or her advice with your objectives.