How to be a good mentor

By Staff | August 31, 2012 | Last updated on August 31, 2012
1 min read

No man is an island, and every entrepreneur needs a support network. While it’s important to have a network of peers, friends and family, it’s equally important to have a mentor to act as a sounding board, hold you accountable and be the voice of reason.

But finding the right mentor is about more than just finding someone you admire and asking them for advice.

So we asked members of the Young Entrepreneur Council (YEC), an invitation-only nonprofit organization comprised of the country’s most promising young entrepreneurs, this question:

“As a Gen Y entrepreneur, what do you look for when seeking out mentorship from business leaders?”

Here’s what they had to say:

  • Failure Plus Success

    I want advice from people who’ve done it a few times, and seen failure and success along the way. Failure gives an entrepreneur a lot of insight into the raw process of building a business. Alongside a breath of experience I look for specific domain knowledge—someone who’s got deep insight into distribution, fund-raising or product development, for instance. Specialized insight is valuable.

    – Derek Shanahan, Foodtree

Click here to read the complete article and see the rest of the responses.>

This article was originally published on Small Business Trends. staff


The staff of have been covering news for financial advisors since 1998.