Optimizing Your Relationship With Your Mentor

successful entrepreneurs know how to get the most out of their relationships with mentors….

This was originally published as part of an interview on soukiespeaks.com

The best way to optimize a mentorship relationship is to determine the length of the mentorship relationship (long term vs. short term), the kind of mentorship that a mentor can offer (business vs. technical), and the scope of the mentorship (specific vs. broad).

Once an entrepreneur can define these expectations, they can clearly communicate the following points to any prospective mentor:

  • What their vision is and why;

The ability to answer this specific sequence of questions gives both parties a clear understanding of their commitment to each other. Thus, establishing a strong foundation for their relationship- no matter how short or long it is.

Finally, I think it’s important to emphasize that there’s no such thing as a free lunch. Although a mentor might genuinely want to help any entrepreneur grow their startup, there will eventually come the point when they need to be compensated in some way, shape, or form. That being said, that doesn’t mean that entrepreneurs need to pay their mentors from the get-go for their mentorship.

However, when an entrepreneur has determined that a particular mentor is the best fit for their business, they shouldn’t wait around. They should lock them in with a clear and specific compensation package to keep them motivated and engaged.

Got questions about how you can make the most of mentorship? Leave your comments below.

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