In your opinion, why is mentorship important in business? What are the critical things you can learn or gain from a great mentor?
If you have worked with a mentor, great! But I want details. Was working with a mentor a successful experience for you? Did you seek them out for general or specific questions? Did you enjoy working...
I have worked with several mentors with varying degrees of success.
For people looking for a mentor, I would advise to be clear on your goals from the engagement. Then be prepared to end the engagement if it is not delivering, and be very wary of mentors who want you to commit to a long term agreement before they have proved themselves.
My worst experience was a mentor who went bad - although it started well. He was obviously struggling financially, and came to see me as a cash cow.
Advisory Board Members or Corporate Mentors are increasingly used in startups and/or growth companies to help grow and develop a business by taking advantage of the experience, skills and important...
I think it is a good idea. I think every business can benefit from an "Advisory Board". Probably the bigger question is who to have on your board. A mentor is an excellent starting point, and you need an "outsider" who can look at the business dispassionately.
It depends on how you structure your business and constitution, whether you have non-exec and exec board directors who carry liability vs a less formal advisory group. In either case you want diversity of experience and gender. Ideally they will have completed the company directors course, know the rule of nose in fingers out, be able to read your financial reports, govern appropriately and help set your strategic direction. Think about your business goals, your gaps in experience and knowledge, who you buyers are and also your culture and leadership style. A CEO and Chairman need to work well together and your board needs to understand your market, buyers and product fit. Maybe you need an impressive name to help raise capital or someone with international experience to guide your global expansion. Don't rush into this, think carefully about terms, get advice and if you do establish a board be professional with their need for due diligence, letters of appointment, setting expectations and board reports.