Launch your own business is an arduous journey, but one that can be made considerably easier with the advice and guidance of a mentor. Many executives and entrepreneurs owe their success in part to the wise counsel of predecessors. Mentors, by virtue of their experience and their own successes and failures, have much to offer an enterprising going through the same process. Usually it is a free and invaluable service, and has the potential to become a positive long-term relationship.

It is clear that the company has much to gain and learn from the experience of a mentor. Mentors share lessons from their experiences to help you avoid their same mistakes, and offer an objective point of view to observe the strengths and weaknesses of your company. They can also introduce your professional network, such as access to senior industry companies, other entrepreneurs in the sector, etc. In many cases, mentors not only provide business advice, but encourage and support the entrepreneur personally. A mentor can act as a resource, counselor, teacher, coach, model, promoter, counselor or coach.

The mentee must also be able to establish an action plan that includes the goals you would like to achieve through mentoring.

Finding a suitable mentor is sometimes a difficult task, but it pays to have a role model, and not be limited to one mentor. You can start by identifying the best, the most interesting in your industry that align with your goals and looking for a way to approach them with respect and determination. There are many organizations, businesses and programs that offer networking opportunities to expand its network.