Singaporean Entrepreneurs

Mentors can make a big difference in your business. They can provide great insight, point out flaws, and most importantly, open doors that you otherwise wouldn’t have even known existed.

But how do you go around choosing a business mentor? Here are some tips that I personally have used over the years that have helped me enormously.

(1) Make sure your business mentor is at least 10 years older than you.
Age and experience is everything when it comes to starting a business. One of the things you will be when you start out is very nervous and panicking every which way. Only age and experience can build the kind of confidence that allows for a steady mind and hand. So go with someone older than you- a decade or two would be great.

(2) You must like and admire your business mentor as a person.
One of my business mentors was someone whom I really enjoyed as a person- just to hang out and shoot the breeze. He was a man of honor and integrity- so I could trust his word, his contacts, and his motivation. We are still great friends even though he has retired and moved away.

(3) Don’t choose your mentor based on industry- they don’t have to be in your field.
While it certainly helps to have someone who can direct you closely- sometimes you don’t want that because the business landscape may have changed. Its actually good to see how other businesses apply certain technology or just to have a completely different perspective of your world because your mentor is coming from there.

Lastly, your mentor should be your friend- and the relationship should stay informal so that no ulterior motives arise and no obligations from either party will strain the relationship.