This post is sponsored by The UPS Store
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”– Mark Twain
What is the number one factor that differentiates successful small business owners from those that fail? Having a mentor. A recent UPS Store survey found that the majority of small business owners did not have a mentor when they started. When they did get one, 82 percent found this mentor very influential in helping them in their company.
This factor contributes so heavily to success because it is indeed lonely at the top. Many leaders find it difficult to get the unfiltered advice they need to make critical decisions for their company. A mentor is the person (or group of people) who becomes the trusted outside voice that the entrepreneur can rely on through good and bad times without penalty.
To find the right mentor, ask these questions:
1. What don’t you know? This is very hard to admit since every small business owner is expected to be able to do it all. But evaluate what your best skills are and where you need help. It’s nearly impossible to figure this out from inside a company. Ask past employees and managers for an anonymous evaluation.
2. How do you best learn? People learn in different ways: reading, listening, and watching. Some like to read a book about how to gain new skills. Others like to be taught by a teacher one on one. Still others want that skill demonstrated in a class setting. A business owner needs to find a mentor who can teach the way they most easily learn. This becomes the basis of effective collaboration. Taking a personality evaluation test like Meyers Briggs may be a good way to gain this insight.
3. How do you give trust? Most small business owners don’t give their trust freely. It takes time. How does someone typically gain your trust? Is it a result of experience, a referral or personal interactions? If you don’t trust the mentor, then any advice they give will be ignored or marginalized.
4. Will you pay your mentor? Some small business owners believe they will only get the most unbiased advice if they do not pay their mentors. They think that anyone paid to help them will only give information they want to hear. The key factor is to create an environment where the mentor can be focused on the issues and are not afraid to get “fired.”
5. Can you really listen? One of the hallmarks of a great small business leader is the ability to listen to others. This doesn’t just mean giving the mentor their “say,” but really discovering how their opinion fits and influences important decisions. You don’t have to act on all the advice, but you need to listen to it! People don’t want to mentor those who are sensitive to criticism and stuck in their ways. Arguing with all feedback is a major red flag to any mentor that they will not be able to make a difference.
Got a mentor? Tell us about them!
