Five Basic Rules for Successful Business Mentoring Relationships: Secrets to Success as a Business Mentor

Are you involved in a business mentoring relationship? Mentoring is an art. Successful business mentoring relationships invariably present a challenge for a mentor, because the success of the person or people mentored with respect to a successful business reflects back on the mentor.

Five secrets to success in a business mentor relationship include the following: creating a well-researched, positive and constructive business plan, establishing sound business principles based on honest and integrity, setting a good example for the person, people or business you are mentoring, mentoring on an appropriate level and evaluating your degree of success on a regular basis

The business plan

What is your business mentoring relationship based upon?

Begin with a sound business plan that will serve as a model for those who you are mentoring. You may need to create a new, well-researched, business plan. It should be positive, constructive and geared towards success. You may need to fine-tune one that has become outmoded or is obsolete.

How well you know your themes, topics and basic business plan is extremely important. There may be others in the group you are mentoring with some degree of expertise in different areas. What they know can enhance your business, so allow them to share their knowledge with you.

Have you defined your business topics and themes well? The choice and presentation of your business information is extremely important.

Think seriously about what you know before you begin to mentor anyone, either on a personal level or a group level. You may need to increase your own knowledge base first. Build a substantial knowledge base, as all of the information that you plan to present must be rooted and grounded in valid information. Are your sources reliable and verifiable?

Business principles

Establishing and maintaining sound business principles based upon honesty and integrity is vital to the survival and success of any business. If basic business principles are not sound, the business cannot stand, as it is immediately destined to failure. The business principles you present to those you are mentoring, should be rooted and grounded in your own honesty and integrity.

The same business values, ethical mores and standards you teach or practice, will be passed on to others by those who develop the art of mentoring, so what you teach is important.

Example

It is not what you teach, but what they see you do professionally, personally and publicly in your own business, that sets an example for others. They will appreciate your degree of professionalism on every level of your business. They will also recognize its merit in terms of the success and failure of their own business.

Setting a high standard by what you say and do personally, leads others to say and do the same. Ideally, most people are seeking to achieve a high level of success and will respect what you and your business represent.

Mentoring

When you are mentoring, it is important to begin with an appropriate base of understanding, so that the person or people who you are mentoring are all on the same level. Develop different mentoring models.

At times, it may be appropriate to simplify what you are teaching to ascertain that the steps in your mentoring will stand, as you increase the teaching in your mentoring process.

Let others express the fact that they feel uncomfortable, confused or unable to relate to what you are teaching. Help them to resolve those issues and concerns by taking a different approach. Always allow room for personal or open discussion. Avoid intentional distraction that disrupts your mentoring process.

Evaluate

It is important to evaluate the person or people you are teaching, throughout the mentoring process. In other words, do simple evaluation tests individually or in groups, so that you know what level of success your efforts are achieving. You may find that you have a natural leader in among those who you mentor.

Because individuals are different and not all people are business oriented, use different teaching-testing business models. Draw upon their strengths and weaknesses.  

Summarize what you are teaching with respect to the proposed new business on a regular basis. Clarify through evaluation, what those who you are mentoring know and understand. Keep on moving forward in the mentoring process.

In conclusion, as a business relationship mentor, remember that you are helping to determine what happens in the future of those who you mentor. You will know how successful you are as a mentor, when you see the level of success that they have achieved in their own businesses.