Entrepreneurs: How to find the right mentor

Speaking at LEAP 2023, James Caan CBE (Serial entrepreneur, Media Commentator and Former Investor on BBC’s Dragons’ Den) said:

“When you look at an entrepreneur…we start off with an idea, we raise some money, we have passion and excitement. The thing that we lack is experience. By definition – we’re a startup.” 

“So one of the things that I spent a lot of time doing, with 50,000 businesses that I’ve backed and started in the UK, was identifying mentors for these businesses. I believe one of the biggest things we lack when we start a business is the experience of execution. And therefore the concept of mentorship for me was imperative.” 

We agree: mentorship can have a major impact on an entrepreneur’s journey. 

A mentor can provide invaluable guidance based on their own experiences. They can help you spot problems and pitfalls before you hit them, and offer advice to help you navigate those challenges. They can save you time, money, and struggle – by being a voice of wisdom to help you strengthen your own decision-making processes, and build your confidence at the same time. 

Mentorship is a powerful driver of professional growth, and a mentor can help you stay on track; keeping you accountable, questioning you when you make choices that might push you in the wrong direction, and supporting you as you set goals that are both realistic and ambitious. 

But not all mentors are made equal

It’s not that we think some mentors are bad, exactly. What we definitely do think is that certain mentors are a good fit for certain entrepreneurs – and a successful mentorship relationship needs to be based on relevant experience and a symbiosis in personalities. 

You can’t just pick any successful person and ask them to be your mentor. You need someone who can genuinely help you – and ideally, they’ll feel that they’re gaining something from being your mentor as well. 

“I think entrepreneurs sometimes believe it’s money that makes the difference,” Caan said. “Money is just one ingredient — the experience factor, to me, is just as important as the capital you need to start a business.” 

So how do you find your ideal mentor in the technology industry? 

Firstly – come to LEAP 2025. You’ll meet some of the best minds working across every segment of tech, grow your network, and have the opportunity to build one-to-one, face-to-face relationships. 

But whether or not you find your mentor at a tech conference or elsewhere, there are a number of steps you can take to make sure you find a good match. 

They include: 

• Figure out what kind of industry knowledge and expertise you’re missing – and look for a mentor who can fill in those gaps.
• Consider who you want to network with. What kind of networking opportunities would be most valuable to you? Seek a mentor with a professional network that holds real potential to increase your chances of success; whether you’re in need of investors, partners, talented employees, customers, or other resources that you can’t yet access on your own.
• Identify the kind of mentorship relationship you’d like to have. This doesn’t have to be set in stone; once you meet a mentor, the relationship will develop as you get to know each other. But it’s useful to know what you’re looking for from that relationship so you can understand immediately if a potential mentor is likely to want the same. For example, if you want emotional support and motivation from a mentor, and you embark on a mentorship journey with someone who has no interest in providing that (or time to do so), then you’re setting yourself up for disappointment – and potentially wasting their time too.
• Set a few key goals that you can talk through with potential mentors – so they can get a sense of where you’re going, and figure out if they’re interested in helping you achieve those goals. For example, maybe you want to grow your business and then exit at a certain point, or perhaps you want to get a product to market.

In short: Clarity will help you establish a valuable mentorship relationship

If you don’t know what you’re looking for, you’re less likely to find what you need. So while it’s true that mentors can present themselves to you at the most unexpected moments, the reality for most entrepreneurs is that a proactive approach is more likely to have a positive outcome. 

Put time and effort into identifying your goals and knowledge gaps now – and you’ll set yourself up for a good start when you connect with your ideal mentor. 

Do you want to meet experienced tech industry professionals at LEAP 2025? Register now to attend.