Expert Insights: How to Find the Right Mentor with Katherine Ray

Having a mentor can be a valuable resource for anyone looking to excel in their professional life.

With research showing that 70% of small businesses receiving mentoring survive for five years or more, having the right guidance is more important than ever, whether you're a small business owner or an executive at a large corporation. But finding the right mentor can be challenging, especially if you don't already have a network of peers to turn to.

We spoke with Katherine Ray, founder of Talentology and creator of Unilever’s global mentoring program, to get her insights on finding the right mentor.

Katherine is a trained and accredited executive leadership coach who has coached managers, leaders, and individuals at all levels for many years. She knows the value of mentorship, having created an award-winning global mentoring program that was featured in the Harvard Business Review, Coaching at Work, and Management Today.

Here's what she had to say about finding the right mentor based on her personal and professional experience.

Inspiration Space: How do you find the right mentor for you?

Katherine: The first step is identifying your goals and what you want to achieve from the mentorship. Ask yourself what skills or experience you're looking to develop, and what type of person would be a good fit for you. Having a clear idea of your goals is essential to finding the right mentor.

Once you know what you're looking for, start by looking within your network. Do you know someone with the skills and experience you're looking for? Reach out to them and explain what you're looking for. If you don't have a network, consider joining a community like Inspiration Space to connect with like-minded professionals and experienced mentors.

When approaching a potential mentor, be honest and transparent about why you want them to be your mentor. Explain what you hope to gain from the relationship and what you can offer.

Mentoring is a two-way relationship, so consider how you can add value to the mentor as well.

IS: What should you expect from a mentorship relationship?

Katherine: The expectations should be clear from the beginning. Discuss how often you'll meet or speak and the agenda. Be open and honest about your goals and any challenges you're facing. A good mentor will listen, provide feedback, and challenge you to grow.

Remember that mentorship is not a one-size-fits-all solution. You may need different mentors for different aspects of your career or business. And sometimes, the best mentorship can come from unexpected sources.

IS: Is having a mentor really necessary? Why is it so important? Katherine: Absolutely. Mentorship is critical because it provides guidance, support, and feedback. A mentor can offer an objective perspective on your career or business and identify areas for improvement.

They can also help you set goals, stay motivated, and hold you accountable. As a small business owner, joining Inspiration Space was one of the best decisions for my business. The structured approach and focus on problem-solving helped me clarify my goals and identify the most important aspects of my business.

In addition, the support of the other members and mentors was invaluable in helping me work through my ideas and challenges. Honestly, if I had Inspiration Space five and a half years ago, my business would be in a much different place.

But mentorship is not just for entrepreneurs. Ambitious professionals in any industry can benefit from having a mentor. A mentor helps you see things differently, challenge your assumptions, and provide honest feedback. They can also introduce you to their network, which can be invaluable for career growth.

Research from the FSB has shown that 70% of small businesses receiving mentoring survive for five years or more, which is double the rate compared to non-mentored entrepreneurs. A recent survey by the UK’s Department for Business, Innovation and Skills found that 94% of SMEs using external support have seen benefits. As a result, these firms are more ambitious and have higher relative turnovers. In addition, 67% of businesses reported increased productivity due to mentoring.

At Talentology, we recognise the value and impact that mentoring can have on individuals, managers, leaders, and organisations. While many organisations will focus on the top 10%, mentorship provides a way to harness the skills and value that's already in the building and get the best from them.

We have designed and implemented a tried and tested approach to mentorship, including an award-winning global mentoring program that consistently leads to impressive results.

Remember, it's harder to achieve your goals alone. But with the right mentorship, individuals and businesses can harness more potential and reach new heights.

So to summarise, use Katherine's top tips to find the right mentor for your career or business:

1. Identify your goals and what you want to achieve from the mentorship.
2. Look within your network for potential mentors.
3. Reach out to potential mentors and be honest about why you want them to be your mentor.
4. Join a community like Inspiration Space to connect with like-minded professionals and experienced mentors.
5. Be clear about what you hope to gain from the mentorship and what you can offer in return.
6. Discuss expectations with your mentor from the beginning.
7. Be open and honest about your goals and any challenges you're facing.
8. Remember that mentorship is not a one-size-fits-all solution.
9. Seek different mentors for different aspects of your career or business.
10. Approach the mentorship relationship with honesty, transparency, and a clear idea of what you want to achieve.