Where/how to find a business mentor

Where/how to find a business mentor

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Discussion

PopsandBangs

Original Poster:

931 posts

131 months

Wednesday 26th November 2014
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Hi everyone

After many months of overthinking, deliberation and finally action and a lot of work, i will be handing my notice in at work at the end of Feb and working on a small business full time. Im both excited an nervous, but have got myself into a financial position now where i wont "need" and income for up to a year, and have enough to cover the basics until i start generating some income. Im 25 now, have no dependants/partner or mortgage so its now or never.

What im keen to do is spend some time while im working on this with some very successful people and really just learn as much as i can from speaking to them, bouncing ideas off them, watching them work and how they live their life, and by what principles. So a mentor really. They dont really exist in the silly, restrictive, narrow-sighted corporate environment i'm currently in. Im talking about business owners and self made individuals.

How and where would i go about finding such people to talk to, with the aim of spending some time with them. Ive looked extensively online but it all seems to be very complicated and layer upon layer of "sign up to this" "join this forum" etc. Perhaps i should knock on a few doors instead.

Cheers

Newc

1,865 posts

182 months

Wednesday 26th November 2014
quotequote all
Where are you located ?

PopsandBangs

Original Poster:

931 posts

131 months

Wednesday 26th November 2014
quotequote all
Ah sorry, South East. London/Surrey border

anonymous-user

54 months

Wednesday 26th November 2014
quotequote all
Without knowing the area you plan to operate in it's hard to say, but if you have a service that you can provide to other businesses, then you could contact selected local business owners and offer to do some free work for them, in exchange for some help and advice. Though you obviously need to be very selective in who you approach...

Also, I would try and attend some local networking events, as these can be a good way of meeting people in a more relaxed environment.

Sharted

2,629 posts

143 months

Wednesday 26th November 2014
quotequote all
I imagine that the London/Surrey borders are swimming with such charlatans erm... experts.

More seriously, there are usually some government funded enterprise agencies willing to offer free advice, will most likely be pretty basic but a good place to start.

ModernAndy

2,094 posts

135 months

Wednesday 26th November 2014
quotequote all
Lots of the people you say you're looking for are invited to give talks at business events.

Stuart70

3,935 posts

183 months

Wednesday 26th November 2014
quotequote all
Bit 1980's sherry and vol au vents; but what about rotary club or CBI. They might be able to assist in getting you contacts?

jdw1234

6,021 posts

215 months

Wednesday 26th November 2014
quotequote all
1). Be very wary of BS merchants.
2). Don't give up equity for mentoring.
3). Verify their track record rigorously to check they aren't making stuff up.

I know someone who does this and would fail all 3 of the above.


PopsandBangs

Original Poster:

931 posts

131 months

Wednesday 26th November 2014
quotequote all
thanks a lot guys. a major reason I've ensured my financial position is so that I don't have to worry about generating significant income straight away, because id like the flexibility, in terms of time, to explore all this options of business events etc whilst working on the business, which is pretty much impossible now as a 9-5er. going to get myself out there and soak up as much as possible.

I think, whilst I definitely need and want to get advice regarding the basics from the many funded schemes etc offered, want i'm more interested in is spending time with business owners and seeing it all put in to practise; people who have done it and done it well and are prepared to take someone under their wing

PopsandBangs

Original Poster:

931 posts

131 months

Wednesday 26th November 2014
quotequote all
...a business yoda I suppose

ModernAndy

2,094 posts

135 months

Wednesday 26th November 2014
quotequote all
jdw1234 said:
1). Be very wary of BS merchants.
2). Don't give up equity for mentoring.
3). Verify their track record rigorously to check they aren't making stuff up.

I know someone who does this and would fail all 3 of the above.
You know him too?

andy-xr

13,204 posts

204 months

Wednesday 26th November 2014
quotequote all
PopsandBangs said:
i'm more interested in is spending time with business owners and seeing it all put in to practise; people who have done it and done it well and are prepared to take someone under their wing
What's in it for them? Some people do it for the ego, others the cash.

To be honest, you'd be better hitting up some networking events in the sector or related sectors and working the tables than looking outright for a mentor.

D4SH

174 posts

219 months

Wednesday 26th November 2014
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Try entrepreneurs circle. Sounds like the kind of networking / mentoring you could be looking for

Wacky Racer

38,150 posts

247 months

Wednesday 26th November 2014
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Rule number one for any business is try to pare your expenses to the bare minimum, (as far as you reasonably can of course), especially in the early years....

For instance, how many newly opened shops do you see, in very expensive locations, with marble floors, expensive shop fittings, and hardly any stock to sell.

foliedouce

3,067 posts

231 months

Saturday 29th November 2014
quotequote all
D4SH said:
Try entrepreneurs circle. Sounds like the kind of networking / mentoring you could be looking for
Just looked at the website / film - wow, very American evangelist but I guess if that's your bag.

OP - even though you don't need money, I suggest going to Start Up Loans and applying for even a couple of grand. What it will give you is access to their mentoring scheme (free of charge).

These mentors are generally successful business people who have built businesses and exited and are looking to give something back. They have a lot to contribute and no agenda other than to see your success.

Judging by the website of Entrepreneurs Circle, I'd be very surprised if 'Nigel' doesn't have an agenda to monetise your participation for his personal gain, so approach with care.

technodup

7,580 posts

130 months

Saturday 29th November 2014
quotequote all
foliedouce said:
Judging by the website of Entrepreneurs Circle, I'd be very surprised if 'Nigel' doesn't have an agenda to monetise your participation for his personal gain, so approach with care.
Of course he does, it's a business.

http://www.nigelbotterill.com/membership/

Sump

5,484 posts

167 months

Saturday 29th November 2014
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I don't think you will find any decent "free" mentor. They're too busy and really don't care about you or your business.

foliedouce

3,067 posts

231 months

Sunday 30th November 2014
quotequote all
Sump said:
I don't think you will find any decent "free" mentor. They're too busy and really don't care about you or your business.
Absolutely disagree with this

As said, there are a number of people who want to give something back having made their cash already.

Or they will financially invest in someone that they believe will make a success of their business, making them some cash at the same time.

I find it's the 'coaches / mentors' that charge for their services are usually the crap ones - the sort that have done the course but never actually achieved anything in their lives and this is how they now make a living.



Wilmslowboy

4,208 posts

206 months

Sunday 30th November 2014
quotequote all
Join a super car forum such as stuttgart9

Not full of mentors/ coaches/ trainers etc but packed to the rafters with many a self made successful individual from all walks of life

Happy to give their advice, opinions, feedback on most stuff, especially to a budding car enthusiast...


Like all feedback, get it from as many sources as possible...

Kiltie

7,504 posts

246 months

Sunday 30th November 2014
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Up here, we have " Scottish Enterprise".

They're not only helpful in the advice and guidance that they can provide but also with the government grants and funding that are available to cover or part cover their engagement.

Is there no equivalent south of the boder?