Mentorship addresses the thing capital cannot fix, which is not knowing what you do not know. It fails when the arrangement is undefined: a founder asks someone successful to mentor them, neither knows what that means, and two polite meetings later it stops. What works is narrow, specific and time-bounded.
Start by deciding what you actually need help with.
Be specific about the problem
Ask for help with a defined issue over a defined period, not for mentorship in general. Pricing, hiring the first employee, breaking into corporate supply chains and managing cash are the kinds of problems a mentor can genuinely help with.
A specific request is also far easier to say yes to, because the person can estimate what it costs them in time.
Find people one or two steps ahead
A founder who solved your problem recently is often more useful than someone who solved it twenty years ago in a different market. They remember the detail and the context is current.
Industry associations, peer groups, suppliers, former employers and other business owners in your area are where these relationships form. A mentor who knows your sector beats a more famous one who does not.
Run the relationship properly
Come with a specific question, do what was agreed, and report back on what happened. Mentors disengage from people who ask for advice and then do nothing with it, which is the most common way these arrangements end.
Respect the time: fewer, better-prepared conversations beat frequent unfocused ones. And be clear it is advice rather than a decision, since the business remains yours.
Use the structured programmes, which are free
Formal mentorship attached to business support is available at no cost through the Small Enterprise Development and Finance Agency, and the National Youth Development Agency provides it alongside funding for under-35s.
Corporate supplier development programmes and incubators also attach mentorship to funding, and that combination is generally worth more than either alone.
Frequently asked questions
Why does mentorship usually fail?
Because the arrangement is undefined. Neither party knows what is expected, so it stops after a couple of meetings.
What should I ask a mentor for?
Help with a specific problem over a defined period, which is also much easier for them to agree to.
Who makes a good mentor?
Someone one or two steps ahead in your sector who solved the problem recently, rather than a more famous person who did not.
What ends these relationships?
Asking for advice and doing nothing with it. Report back on what you did and what happened.
Is paid mentorship necessary?
No. Structured mentorship is available free through the national small enterprise agency and youth development agency.
Further reading
Originally published in February 2018. Updated September 2026 into practical guidance on finding and working with a mentor.
