What impact does a small business coach have on young entrepreneurs and small business startups? Do you know that a business mentor is very important to your business? Do you know that having a small business coach or mentor can be a Competitive Advantage to your business? Have you tried to get a business coach or mentor without avail? If your answer to the last question is yes, then read on as I spill everything you need to know about finding a small business mentor or coach.

Many people desire the privilege of having their own business mentor without knowing that they have it right on their finger tips. Today, I will be sharing with you some tips on how to find your own business coach or mentor. But you may ask; why do I need a business coach or mentor? Well, below are four good reasons why you need a business coach or mentor when building a business from scratch.

What is a Business Coach or Mentor?

“A mentor is someone who has successfully passed through a field and is well grounded in that chosen field while an adviser is someone who may possess practical knowledge of a field but he or she does not actively practice in that field.”

4 Reasons Why You Need a Business Coach or Mentor

  1. A business mentor will serve as a source of inspiration to you.
  2. A business coach or mentor will guide you through the entrepreneurial process.
  3. A business mentor will be your leverage in the business world; be it financially, intellectually or otherwise.

“Leverage is the reason some people become rich and others do not become rich.” – Rich Dad

4. Most importantly, a business mentor or coach will help you avoid some silly mistakes that will hurt you and your business; thereby saving you from unnecessary stress and loss of capital.

The above reasons are why I recommend you find a business mentor. But I want you to know that not all mentorship advice is worth it. Just as there are bad business and investment opportunities, there are also bad mentors. Now how do you identify a mentor qualified to give you good mentorship advice? Well I am going to help you out. If you are ready to learn, then below are seven standards or benchmark you can use to choose a business coach or mentor.

Factors to Consider When Choosing a Business Coach or Mentor

  1. Your business coach or mentor must be a role model, I mean someone whose lifestyle inspires you. He must be someone you admire and respect.
  2. Your business coach or mentor must be experienced in the game of business and investing.
  3. Your business coach or mentor must have time freedom. This is highly important because without time freedom; your chosen mentor won’t be able to teach you.
  4. Your business coach or mentor must be a doer, not just a preacher. What I mean in essence is that your business mentor must be an established entrepreneur, not just an adviser.

For instance; when you turn on your TV and tune to any investment channel, you will see all manner of commentators and financial advisers giving all sought of advice. Even your next door neighbor can be an adviser but the difference is that these advisers rarely practice what they preach. They advise you on what to invest in while they are not investing.

5. Your business coach or mentor must be willing to share his or her knowledge and experience with you; either on a free or paid basis.

6. Most importantly, your business coach or mentor must have successfully passed through the entrepreneurial process. It’s the experience gained and lessons learned while undergoing the entrepreneurial process that qualifies him or her to be a business mentor.

7. Your business mentor’s personal standard or business style must suit your personal and business standard. I am saying this because mentors or coaches psychologically influence their protégés. This means that if your business coach is a crook, you will end up being a crook and if your coach is smart or brash, you will end up so.

“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” – Warren Buffett

So that’s why you have to be careful when choosing a business coach because inevitably, he or she will exert an influence on your life and business. For example; if your coach has poor credibility, it may directly or indirectly affect your business.

Now that I have listed out the importance of having a business coach and the standards to look out for when choosing a business mentor, I will now go into details of how you can find a good business mentor and start receiving mentorship advice. If you are still motivated to learn; then read on as I reveal five ways you can find a business mentor or coach and how you can easily receive mentorship advice from successful entrepreneurs.

5 Easy Guaranteed Ways to Find a Business Coach or Mentor

1. You can find a business mentor or coach by personally approaching whosoever you think is fit to be one. But remember, anybody you choose must satisfy the six standards written above. You can walk up to someone you consider an entrepreneurial role model and ask the person to be your mentor.

2. You can get mentorship advice from books and audios written or prepared by successful entrepreneurs or those who you feel are qualified to be your business mentor. For instance, I have a lot of business mentors and coaches; and one effective way I connect with them and get advice is through their books, audios and blogs.

I have a huge collection of books by authors such as Robert Kiyosaki, Bill Gates, Brian Tracy, Michael Gerber, Zig Ziglar, John Maxwell, John Mason, Jim Rohn, Richard Branson, Felix Dennis, Peter Drucker, Napoleon Hill, Benjamin Graham, etc. I also visit the blogs of entrepreneurs such as the Rich Dad’s blog, Tim Ferriss and Seth Godin.

3. You can get mentorship advice by attending seminars organized by successful entrepreneurs.

4. You can get mentorship advice by signing up for mentorship or internship programs. For instance, The Apprentice is a well known entrepreneurial internship program; and the Rich Dad Coach is also a well established entrepreneurial mentorship program. You can sign up for any.

5. Lastly, you can learn or tap from the wisdom of successful entrepreneurs by carefully studying their lifestyle, business style or modus operandi. You can achieve this by listening to their speeches, observing their strategies and their business moves. I do this a lot and entrepreneurs I understudy this way include Robert Kiyosaki, Warren Buffet, Richard Branson, Aliko Dangote and Steve Jobs.

In conclusion, I believe I have spilled everything you need to know with respect to finding a business coach or mentor. So it’s up to you to profit from this information I have shared. I wish you the best of luck in your search for a suitable business coach or mentor.