Being an entrepreneur can be a lonely affair. A mentor who will offer practical advice and use their experience to push you out of your comfort zone can make a significant difference to the success of your business.

Irena Sobolewska, general secretary of the European Mentoring & Coaching Council: When looking for a mentor you are not just looking for experience or contacts — not everyone is able to pass on their knowledge, skills and attitude to others. Be prepared to put into the mentoring as much as you are getting out — don’t just turn up expecting things to happen. Don’t expect it to be the answer to everything. It is not a magic wand and your mentor won’t “fix things” for you.

Rachel Elnaugh, entrepreneur, mentor and former Dragons’ Den panellist: People who say they want to be mentored quite often just want to be praised or are searching for a magic formula to business success — they want you to be a fairy godmother. Often what you think you need isn’t what is right. It’s about creating space in your working life, slowing down and realising you need help, and getting into a frame of mind where you are receptive and willing to learn.

Andrew Ashley, managing director of Enterprise Plymouth: Mentoring is about helping a business to evolve by developing the skills and understanding of the people in it. Mentors bring a wealth of experience and knowledge of successful business operations and provide a sounding board for owner- managers to run through any concerns. Mentors do not act in the role of a consultant but can help a business explore, question and resolve issues.

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Background

• Blessed are the £5m cheesemakers

• Smart entrepreneurs sit tight

• Talent works wonders

• Flexibility the key to success

Jonathan Jay, founder of mentoring programme SuccessTrack: I don’t know of one successful person who hasn’t had a mentor, whether it’s been a formal or informal arrangement. Identify the key issues you want help with and look for people who have faced similar challenges and overcome them. Ask these people if they’d be willing to provide advice; if they say “No”, ask if they can refer you to someone they know who could be your mentor.

Great mentors are everywhere: in professional mentoring groups, business and industry associations, social or networking organisations, alumni and successful people featured in newspapers or books. Learning from someone who has been there and done it is priceless.

Dr Gary Packham of the University of Glamorgan’s Business School: A good mentor is not there to tell you what to do. Instead they should be able to help you become more confident in making key decisions for your business by giving you the benefit of their wisdom and experience. Any relationship benefits from regular contact and good communication, and it’s important that you learn to listen to your mentor’s advice.

James Farrar, head of marketing, Bank of Scotland Corporate: As a bank, we always look at who a business has access to; we look at non-execs, who often play a mentoring role, and ask entrepreneurs: “Who do you have around you? Where do you check your inspiration?” Determining how insular a company is is part of assessing how successful it will be.

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