For Subscribers

My Hero Let a mentor guide you on the path to success while sidestepping the potholes.

By Nichole L. Torres

Opinions expressed by Entrepreneur contributors are their own.

There's nothing like having somebody who's been therebefore to show you the entrepreneurial ropes. Do you need help withyour business plan? Want reassurance from someone who'sstruggled through the same startup challenges you'refacing?

When it comes to college entrepreneurship, Alvin Rohrs,president and CEO of Students in Free Enterprise (SIFE), aSpringfield, Missouri-based nonprofit, says mentors can share themistakes they have made and show you how to avoid making thosemistakes yourself. Mentors can be anyone--from professors andadvisors to local businesspeople. Plenty of universities withentrepreneurial programs put emphasis on mentoring; examplesinclude the Center for Entrepreneurship Program at Loyola MarymountUniversity in Los Angeles and the W.P. Carey School of Business atArizona State University in Tempe.

Brown University is another such school, as student entrepreneurJason Donahue, 23, knows firsthand. In 2003, Donahue; EricShashoua, 23; Samee McDannel, 20; and two other students launchedAxon SleepResearch Laboratories in Providence, Rhode Island. They werealso matched with three university alumni mentors. One mentor is asleep expert, another is a marketing expert and the third is astartup expert. Each mentor brings a unique expertise to help thecompany grow and market the SleepSmart, an intelligent alarm clockthat monitors sleep cycles and wakes people from light sleep.

The entrepreneurs raised $250,000 in venture capital and arelooking to secure $2.75 million more before they start selling theSleepSmart in 2006.

The ideal relationship between a mentor and an entrepreneurshould include a free flow of ideas and real-life checks andbalances. Beware of mentors who brag about their success, warnsRohrs. "When selecting a mentor, you want one who wants tohelp others succeed," he says.

With this in mind, look for a mentor, even if there isn't anofficial program at your university. Rohrs suggests you start yoursearch with your local SIFE chapter, which often has ties to the localbusiness community.

You should also consider business school professors or localentrepreneurs as possible mentors. Don't be shy--ask them tolunch and explain what you're doing. You'd be surprised athow readily most entrepreneurs will share their wisdom."I've found very few entrepreneurs not willing tohelp," says Rohrs.

If your first meeting goes well, ask if you can make it a formalmentoring relationship with meetings in person, over the phone oreven via e-mail. Rohrs adds, "Understand that [your mentors]don't have a lot of time, and be prepared with what you want toask them when you go into your meetings."

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

5 Generations, 1 Team — Heres How to Lead a Multigenerational Workforce

Great leaders turn age gaps into advantages. Here's how leaders can lead each generation.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Starting a Business

How to Build a Side Hustle That Stands on Its Own — Without Burning Out

Ready to take your side hustle to the next level? This article shows you how to turn it into its own unique brand that gets noticed and grows on its own.

Marketing

Create Visuals, Content, and Presentations That Land with This $25 Bundle

Learn how to command attention and build brand trust in any room.

Science & Technology

101 Small Business Ideas to Match Your Personality, Investment, Skills & Goals

Still stuck on what biz to start? Use AI to uncover 101 custom ideas aligned with your skills, values & lifestyle—plus a 90-day roadmap to launch with clarity.

Business Solutions

Final Hours to Get Windows 11 Pro with Copilot for Just $10

This Copilot-equipped OS is here to make your workflow faster and smarter.