One of the major reasons why businesses fail in Nigeria is due to the lack of good mentors for the business. This leads to many businesses starting and running without a direction, which ends up in a failed business.

This blog post covers who a mentor is, how to know good mentors and how to find the best mentor for your business.

Who is a Mentor?

A mentor is someone with more experience in business or in life who is willing and available to help an entrepreneur harness his or her abilities and shares professional knowledge and expertise in the field. He also helps the entrepreneur to navigate through challenges in business. They usually do this for free.

Your business and Your Business Mentor

Small business owners or entrepreneurs who are new in business need assistance from those who already have intimate knowledge of how businesses work. To be successful as a startup owner, you need to follow some business rules that have been tested and have proven to be effective. You may decide to read books written or attend classes organized by seasoned business owners. While this is important, it is more helpful that you develop a good business relationship with experts in the industry. These experts are called mentors, and the act of associating with them to learn from them is called business mentorship.

How to know a good mentor

There are certain qualities you should look out for when searching for a business mentor. Remember that the profit or loss you make from your business is a product of the decisions you make, and the choices you make could result from the kind of mentoring you get from your business mentor.

Some of the qualities of a good mentor for your business include:

Willingness to share knowledge, Skills, and Expertise

A good business mentor should be willing to teach you what he/she knows and accepts that you in your current state of professional development. He knows what it means to be new in business and is aware of the risks and uncertainties you might face.

He/she is committed

Your business mentor should be willing to invest his time and attention to the details of your business. Good business mentoring requires time and commitment, which also involves sharing useful information and being a source of continual support to your business life.

 Acts as a positive role model

A positive attitude is an excellent feature of successful mentors. Your mentor should be one who has positivity as an attitude because you need it, especially at the moments when your business experiences difficulties.

Takes a personal interest in the mentoring relationship

Good mentors take charge of their responsibility. He or she sees you and your business growth as essential and even feel the need to invest their time and expertise. He is compassionate and knowledgeable in business and must possess the qualities of patience as a good teacher or trainer

Value continuous learning and growth in business

Anyone who feels fixed or stagnant in their current position will not make a good mentor for you. Your business mentor should be will to explore new ideas and subjects. He must be willing to learn as the business evolves and while doing this should be ready to carry you along. He helps you to experiment with new ways to find fulfillment and satisfaction in your business.

Have great communication skills.

Respected by colleagues and employees at all level of the organization.

Guides and gives constructive feedback.

Motivates others by setting good examples.

Finding a good mentor for your business

Where do you look to find a good mentor for your business?

Start with your closest network -family and friends

When looking for a good business mentor, it is a great idea to start with those closest to you, those you can trust and will be willing to help. The inner circle is more comfortable to sit with

Consider those in your extended network

Mentoring is not a very simple task and could be a huge deal to demand from someone not very close to you. If your family and friends are giving you a lot of wrong advice, you may want to redirect and look out for mentorship elsewhere amongst those who do not know you too well. But before you walk up just to anyone for mentorship, be sure to have created a good rapport with your intended mentor.

Consider complete strangers

If none of those in your network seem to give you what you desire in a mentor, you may need to branch out to complete strangers. Start research into business platforms and sites to find out the profiles of business owners and figure out those who key into your style. Find out as much as you can about them and then schedule an appointment or interview with them. If the outcome of your first meeting turns out good for you, then you can plan other subsequent meeting and create a more formal ground for your mentorship intentions.

Peek into your industry

You may not need to look too far to get a mentor. Take a good look into your industry, among those who are experienced and knowledgeable in your industry could serve as excellent mentors. Find someone who matches your needs and style and hookup with him or her.

Paid Mentorship

Although mentoring takes time to reach an expected level, in some cases, you may feel you need to get off the ground as quickly as possible, or you intend to take some crash courses, then you can pay for mentorship. At this point, you would need the services of consultants.


Conclusively, whichever way you wish to find a good mentor for your business, ensure you get one that suits your business and lifestyle.

Good luck!