Look around your industry to find five successful business leaders who retired within the past two to five years. This two-to-five year timeframe is important. If they've been retired for any longer, they could be out of touch. Any sooner, and they're not yet bored enough with retirement to miss thinking about work.
Write each of these five people a short letter expressing genuine admiration for their careers. Compliment them on specific achievements. Then ask for advice on your own career.
Offer an invitation to go to lunch. Or, if they're located out of your local area, ask for a 15-minute phone call. And don't - I repeat, don't - offer them any compensation for their help ... yet. Odds are, at least one of the five will respond positively to your invitation and give you a little of his time. If you find that you get along, you've got yourself a mentor.
Making the Most of Your Relationship With Your Mentor
Once you've found your mentor, make a list of the goals you want to work on with him. What do you want out of the relationship? What do you feel you need to learn? What can this person best teach you?
Prior to your first conversation, outline what you want to achieve from your time together. And keep track of your progress. Are you achieving what you set out to do? It's important that you set and monitor your progress, because your mentor most likely won't.
How to Make Sure You've Got a Good Mentor
A mentorship is a relationship built on learning. Your mentor should be your learning coach: someone you can talk to and trust. A good mentor should provide you with advice, feedback, and support. He should help you focus on your goals and give you direction that helps you succeed more quickly than you could alone.
A good mentor should help you learn the secrets to success in your field of expertise. (That's why finding one in your field is so important.)
Your mentor should offer advice on skills he's found valuable. He should counsel you concerning various opportunities in your industry and different paths to success.
According to an article in Black Enterprise, a good mentor won't tell you how to do your job. He should give you feedback and share his personal experiences, but not inundate you with lots of unsolicited advice. And a good mentor shouldn't be making decisions for you that you could have made for yourself. "Your mentor is not a savior," the article says.
I agree. If you're going to learn from your mentor, he can't come up with every single solution for you ... nor should you expect him to. Your mentor should act as a sounding board and as a trusted advisor and counselor. I like the way business writer Ron Yudd put it: "[Mentors] hold the flashlight so others can see the path."
Respect the Mentor-Mentee Relationship
To maintain your relationship with your mentor, you must recognize his value and reward him for it. Keep in mind that the kind of advice he is giving you is likely to have the most profound effect on your career. Although you can't measure the financial value of any specific suggestion (i.e., "Stop spending so much time on this fulfillment project. Get to work on improving your advertising."), you can bet that in the long run the effect will be very significant.
Show him you appreciate what he is doing for you. Tell him, in specific terms, what you have learned from him and thank him every time he meets with you. Remember, the psychological reward of knowing he is helping you succeed is his primary reward. That said, the time has now come to offer to compensate him for his time with money.
How much? That's up to you. Pay him no more than you feel comfortable paying him and no less than he thinks is fair. If you can't find a number in between those two figures, find another mentor.
One of my current mentors, Sid, gets a check of several thousand dollars every time I spend time with him. On a per-hour basis, he's extremely well paid. But for the help he gives me in making key leadership and wealth-building decisions, the $30,000 to $40,000 a year I invest in him is a bargain.
Consider Using Multiple Mentors
If one mentor is valuable, multiple mentors can prove to be invaluable. This makes enormous sense when you consider it. It gives you not only the wisdom of one person who has been successfully doing what he's doing for years and years, but also the perspective of comparing the ideas and judgments of several experts.
Adopting a mentor or mentors requires a temporary abnegation of pride. Or perhaps something beyond that - the wisdom to understand that one's own ideas are not always the best ideas.
I consider this to be a truly great secret of success.
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