10 Practical Tips Tailored for Women Seeking Mentorship in Entrepreneurship
Sometime in my 20’s, I made it a habit to ask mentor figures in my life, “How’d you do that?”
This shift was a game-changer for fast-tracking habit formation and adopting a refined perspective from people who were already finding success in an area I wanted to polish in my own life.
Looking back, I’ve found mentors who have poured into me both in big ways and in small ways, each making a distinct mark on my success.
Find Your Mentor
In this article, I’ll uncover:
What a mentor is
why having a mentor as a female entrepreneur is so important,
examples of mentors in my own life, and
10 practical tips tailored for women seeking mentorship in entrepreneurship.
Let’s begin!
What is a Mentor?
A mentor is someone a few steps ahead of you on the path you’re traveling. He or she provides trusted guidance based on their experience. The goal of mentorship is for the more seasoned advisor to pour valuable insight and support to make your journey successful.
A mentor can be someone in your same geographic area who you meet with in person. A mentor can also be someone you’ve never met before but who provides resources about their own life experience (perhaps through books, podcasts, YouTube videos, or social media) that can shape and mold the decisions you make in your life. For example, many people make it a practice to consume content from thought leaders like Lewis Howes and Jasmine Star to comprehensively understand how they realized success in their own lives, but never actually meet them in person.
Why Having a Mentor is So Important in Entrepreneurship
Guidance from a mentor can prove to be invaluable as you grow your business as a female entrepreneur. Mentorship brings growth and evolution, including in the following ways:
Experience you haven’t lived yet - A mentor can pour experience and lessons learned into you to guide you in your decision-making.
Networking opportunities - A good mentor is well connected. It’s true, the business of business is relationships. A mentor can introduce you to other wise decision makers to open up connections and opportunities you wouldn’t otherwise have access to. Every woman should have a circle of peers and a circle of women two or three steps ahead to light the way.
Mindset shifts - A mentor on the path ahead of you has already weathered difficult life lessons and created mindset shifts in herself that help her create effective results. As a conduit for change, she can help you see a perspective you haven’t yet lived to cultivate.
Serves as a vision for who you aim to become - Our brains work much more effectively if we can see a vision of who we want to become. By holding an image in your mind of the person you want to become, your brain can get to work in the background becoming an ever-better version of yourself.
Women Mentor Examples
Several times I’ve been mentored by someone who shaped the habits I keep and decisions I make.
Meet my friend, Erin. For example, when my husband and I were first married, I had no idea how to combine our finances. Despite learning sound financial management growing up, I had my own banking system and he had his.
Neither banking system was wrong; I simply didn’t know how to mesh the two together. I asked my friend, Erin, if she could share her banking system with me. I knew she and her husband kept healthy financials, so I asked her to walk me through how they managed money.
She came over to my house and walked me through exactly how to do it. The way Erin showed me to manage our money is still how I do it 10 years later.
Then there’s Doris. Doris was my SCORE mentor when I first started my business. Soon, I began crossing paths with her everywhere. She was incredibly well-connected and seemed to know which networking events to attend. One day I asked her to be my mentor and after a long pause, she responded, “I’ll only be your mentor if you promise to give your business give years.”
Over the last seven or more years since asking Doris to be my business mentor, we’ve developed a relationship where she feels sound pouring invaluable life, wife, and mom advice into me. She’s become much more than a business mentor.
At 70 years old, it’s not uncommon I’ll receive several paragraphs of text messages where she thought-downloads steps she took to build a beautiful life. I cherish them. With her guidance, along with guidance from so many other people, I’m happy to say my tenth year in business is approaching and my life is richer because she’s in it.
Then there’s Jessica. My husband and I wanted to begin investing in real estate but weren’t sure how to start. I showed up to a real estate meetup in my area and found a seat next to the friendliest looking female I could find. We made plans for a follow-up lunch where Jessica guided me through the steps to take to begin looking for our first investment property and ended up becoming our realtor for our first purchase.
Throughout my journey, mentors have helped clear and carve my path forward.
I’ve seen the value of mentorship in my own life and mentorship is one differentiating factor I see in many successful women around me.
Let’s explore practical tips tailored for women seeking mentors in entrepreneurship.
10 Practical Tips Tailored for Women Seeking Mentorship in Entrepreneurship
1. Define Your Goals for Having a Mentor
Before you can find the right mentor, you need to know what you want to get out of the mentorship. Take time to review your business goals and identify the specific areas where you see gaps.
Are you looking to up-skill in leadership, navigate industry challenges, connect with key players in your community, or scale your business? Ask someone who’s done it.
Having a clear understanding of your objectives will help you find a mentor whose expertise aligns with your needs.
Keep in mind you’ll be asking for your mentor’s most precious resources - time and energy - so you want to set yourself up for that person to say, “Heck yea I’ll mentor you.” Make it a mutually beneficial relationship by having a clear idea of what you want to learn so that conversations are practical and productive.
2. Seek Diverse Perspectives
Consider seeking guidance from someone whose background is diverse. A mentor with a different perspective can offer fresh insights and help you approach challenges from new angles. Look for someone whose culture, industry, political viewpoint, or upbringing differ from yours. At Founding Females®, we strongly believe our differences make us better. It’s in these dynamic conversations that new ideas will flourish and you’ll appreciate the growth that comes from diversity.
3. “Give First” at Networking Events and Organizations
Connected people know how to build relationships and they spend time at events with other growth-minded people. Prioritize networking events, conferences, and organizations focused on entrepreneurship. In Central Illinois, Women in Leadership, NAWBO (National Association of Women Business Owners, and Founding Females® Meet Ups are three well-known organizations women go to get connected.
Go in with a “give first mentality.” See how you can add value to the conversation and to the wellbeing of the other person without expecting anything in return. Giving first selflessly helps build trust and rapport with new connections. Make it a staple in building your personal brand.
4. Online Platforms and Communities
Your next mentor could be thousands of miles away. Online platforms and communities that connect entrepreneurs are rich with women who have created their own success and are happy to pour into other women. Mentorship happens frequently inside our Founding Females® Women’s Business Mastermind with over 60 women pouring into the center to offer guidance and support.
In addition, websites like LinkedIn, mentorship-focused forums, and social media groups can be valuable resources for finding mentors.
The main goal is to show up and engage in conversation. You can’t build relationships by watching the replay. Actively participate in discussions, showcase your expertise, and reach out to potential mentors who resonate with your goals.
Virtual mentorship relationships can be just as impactful as in-person connections.
5. Industry-Specific Mentoring Programs
One of the things I love about organizations like NAWBO and Founding Females® is there’s a mentorship component already built in. Female leaders realize the value in mentorship and have begun naturally facilitating the dialogue between business owners who have found success with those showing up to learn.
Look into industry-specific mentoring programs designed to support women entrepreneurs. Many organizations offer mentorship initiatives to empower women in business. These programs often pair mentees with experienced mentors who can provide guidance tailored to the challenges and opportunities specific to your industry.
For example, I often see photographers leaning into the “community over competition” vibe by guiding newer photographers into the trade. This abundance mindset where there’s enough to go around for everyone is the only thing I want in my life. MORE OF THAT, PLEASE!
6. Formal Mentorship Programs
Consider participating in formal mentorship programs offered by business associations, incubators, or accelerators. In Central Illinois, gBeta offers mentorship opportunities for businesses who opt into their accelerator program. These programs are designed to facilitate mentorship connections between new businesses and seasoned businesses and provide a structured framework for mentorship relationships to flourish.
7. Utilize Your Existing Network
Chances are, you’re surrounded with people who have encouraged you along your journey. Entrepreneurs are initiative-takers. Leverage that. Tap into your existing network of contacts, colleagues, and friends. Know someone who left corporate a few years before you? Reach out. Have a professor who made an impact on you in school? I’m sure they’d love to hear from you.
Your professional and personal connections may lead you to potential mentors or individuals who can introduce you to influential figures in your industry. Leverage the power of previous relationships and word-of-mouth recommendations to discover mentors with proven track records.
8. Ask proactively
Don't be afraid to take the initiative. Nobody can do it for you. That’s one of the hardest lessons to teach. You have to put yourself out there and get a little uncomfortable, but the growth to come is certainly worth it.
I remember feeling so nervous to ask Doris to be my mentor. I was afraid of rejection because I had never asked someone to formally guide me the way I was asking Doris to. Now, seven years later, I what a positive difference she has made on my life. It was absolutely worth a few nervous moments.
Once you identify potential mentors, reach out to them with a clear and concise message outlining why you admire their work and how you believe their guidance could benefit your entrepreneurial journey. Demonstrate your commitment and eagerness to learn from their experiences.
Mentorship Request Template
Consider using the following script to request mentorship:
Hi ____,
I’m reaching out because I’ve noticed several positive aspects about your life that I’d like to learn more about. I notice how you ______, ______, and ______. Those are all values I also consider important and aspire to become more like.
I wondered if you would be willing to mentor me. Specifically, I’m looking for guidance with _____, ______, and _____.
I realize your time and energy are precious and I’m willing to learn from you any way that feels life-giving to you: Zoom calls, phone calls, tagging along on your morning walks, or taking you to lunch.
Thanks for your important work supporting our community. The work you do matters and I'm so grateful for it!
Warmly,
Your Name
9. Build Genuine Relationships
It’s not all about you as the mentee. Approach mentorship as a two-way street. Your mentor should find your mentor-mentee relationship as life-giving as you do. Make sure you intend to accommodate your mentee’s preferred method of connection. Pouring into the next generation is a rare, but fulfilling paycheck and if you make it convenient for them, they’re much more likely to say yes.
Foster genuine relationships with potential mentors by showing genuine interest in their experiences and perspectives. Share your own insights and experiences, creating a mutually beneficial exchange. Building trust is essential for a successful mentorship relationship.
10. Stay Persistent and Open-Minded
Finding the right mentor may take time, so stay persistent and open-minded throughout your journey. Keep in mind that many women are just trying to keep their heads above water and while they might want to mentor you, someone with littles or who is going through a challenging season of life might not be able to commit. Be willing to hear “no,” but don’t become discouraged.
Be adaptable to different mentorship styles and personalities. Remember that mentorship is a dynamic relationship that evolves over time, so stay committed to your goals while remaining flexible in your approach.
Conclusion to 10 Practical Tips Tailored for Women Seeking Mentorship in Entrepreneurship
Finding a mentor in entrepreneurship is an important step toward personal and professional growth. By clearly outlining your goals, seeking out diverse perspectives, and leveraging various networking avenues, you can build meaningful mentorship relationships that empower you on your entrepreneurial path.
Remember, the mentorship journey is as much about self-discovery as it is about learning from others. Your interest in learning from others will serve you well in your entrepreneurial journey!
P.S. Here are some of my top favorite female small business resources:
Dream, Build, Grow Free Resource Suite - free business templates for your business plan, marketing plan, ideal client persona, financial statements, and more!
Founding Females Community - an online female mastermind space for entrepreneurs to connect, support, and get inspired
Dream, Build, Grow: A Female’s Step-by-Step Guide for How to Start a Business - a guided handbook including everything you need to know from business idea to launch to profiting and scaling your business.
Free Downloads for Female Entrepreneurs
Free PDF Download: 25 Ways to Market Your Business (Aside from Social Media)
Free PDF Download: 33 keys to Business Success
Free PDF Download: SEO Tips for Entrepreneurs
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About Founding Females®
The mission of Founding Females® is to help women build thriving businesses. We create safe spaces for women to share business challenges and receive peer support.
In addition, Founding Females® offers an online female business mastermind, a how-to guidebook for female entrepreneurs called Dream, Build, Grow: A Female’s Step-by-Step Guide for How to Start a Business, and in-person events, like an annual women’s business conference and local Founding Females® Meet Ups.
Founding Females® was founded by small business educator, Francie Hinrichsen. She believes anyone with a dream on their heart can pull up a seat to change the world through entrepreneurship. Click to learn more about working with Francie.
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