7 Insights on Professional Mentorship
If you’re eager to develop your professional prowess, there is unmistakable value in seeking wisdom from thought leaders and industry figureheads. However, establishing such connections and subsequently taking advantage of all they have to offer may seem like a challenging undertaking. For expert insight, look to a former small business owner who has made a career out of instructing others: David Elizondo, district director for the US Small Business Association, San Antonio district. Discover his top advice for gaining maximum returns from other successful individuals so you can unleash your full leadership potential.
Take initiative
“You may have ambitions to grow, but what if you never convey that to someone else? You have to effectively communicate that there are opportunities on the horizon you want to pursue. Otherwise, leaders above you will think you’re happy taking marching orders.”
While Elizondo’s first bit of wisdom is more targeted at employees, his broader point about taking initiative applies to leaders as well. Many people are willing to lend some professional guidance to others in their field, but they generally won’t do so without impetus. Consider who you could reach out to for potential mentorship opportunities—even if just to request a quick discussion over coffee. You may find that they are happy to connect with you and bend your ear about all sorts of invaluable topics.
Build a network
“I encourage leaders to converse and cross-promote with as many small business owners as possible, including ones that seem like direct competitors. Here’s a real-world example of successful networking: A brewery owner in a small Texas town started collaborating with another brewery a short distance away. The next thing you know, they’re arranging and attending festivals alongside other microbreweries—a win-win scenario for both of them.”
Just about every small business owner understands the importance of networking, but not enough prioritize pursuing these lucrative opportunities. Elizondo advises utilizing chambers of commerce and incubators, excellent sources for making initial connections with fellows in your industry. Doing so, he states, offers virtually endless benefits, including brainstorming promotional ideas and materializing solutions to economic challenges.
Converse plainly
“Starting a conversation with a potential mentor is as simple as this example: ‘Hi, my name is David, and I run a small trucking company in San Antonio, Texas. I’ve been in business for five years now. I’ve heard that you have a large-scale operation. How did you get started, and what are some pitfalls you could share with me that I should avoid?'”
Whether you’re attending a conference or simply sending social media messages to leaders who inspire you, Elizondo recommends using this template: introduce yourself and your work, acknowledge your potential mentor’s success, and then request the chance to gain wisdom from them. He also strongly suggests researching the attendees of networking events before you arrive so you know who may be a worthwhile mentor and how their business acumen could benefit you. And, of course, don’t forget your business cards.
Seek alternative resources
“As an SBA representative, some of the most common questions I hear from small business owners include ‘How can I expand operations?’ and ‘What can I do to increase revenue?’ I frequently direct these individuals to seek out resources like the SBA’s online training tutorials.”
Mentorship doesn’t always have to involve shadowing a professional in person. As Elizondo illustrates, some of the greatest resources you can leverage for refining your business skills may be freely available on the internet. Consider visiting education centers such as the SBA Learning Platform for targeted lessons on operating and growing a business or enrolling in courses for developing your professional know-how.
Get specific
“Mentorship is often about providing insight from an outside perspective. A mentor can review a small business owner’s model, plan, and financials, then identify areas they may be overlooking or failing to consider.”
Though many people associate mentorship with gaining abstract business inspiration and platitudes, you can also seek more practical guidance that digs into your daily operations. Elizondo notes that the SBA’s resource partner network frequently connects business leaders with experts in a specific area of practice, such as accounting. These mentors will work one-on-one with them on the details to help advance their organizations in more concrete ways.
Sharpen the saw
“We are ever evolving. It’s important to keep learning on a weekly and daily basis. Just as the market is always shifting, a small business owner should remain adaptable and resilient against industry changes.”
To be a good mentee, you need to devote yourself to honing a wide range of business skills, including the ability to brainstorm solutions to industry challenges. Elizondo recommends that every ambitious professional reads The 7 Habits of Highly Effective People for guidance on individual development, pointing directly to the seventh habit, Sharpening the Saw, for its framework for pursuing self-renewal.
Look out for leaders
“I always advocate for letting your team members come to you to share their thoughts and ideas. And when an individual has insights that suit your business model, ask yourself, ‘How can I assist this person to be successful in what they’re trying to accomplish as well?'”
As you focus on your own growth, be sure not to overlook a hidden source of value: innovation from your team members. With their inside knowledge of both your leadership style and your business’s processes, they can be an equally lucrative resource to help you hone each. To capitalize on this, Elizondo advises that leaders open channels for their employees to communicate their suggestions or ideas—these may become the seeds of groundbreaking strategies.
Then, in turn, find ways to reward those who demonstrate eagerness to help the company grow, positioning them to execute their concepts. You may just find that one of the greatest ways to enhance your leadership skills is learning to pull up teammates behind you on the ladder toward success.
No matter your specific aims, continue to seek guidance from available resources, including the SBA and trailblazers within your community. When you unlock the potential of mentorship, you can return to your desk each day with a more powerful leadership mindset, equipped with greater professional abilities for supercharging your organization’s growth opportunities.
TAKE ACTION:
List five goals for your small business, then consider which mentorship resources could help you achieve these aims.