Mentor person, not idea

10/20/02
Brigham Young University
By By Eric Farr Printed in the Deseret News

This past week, I had the opportunity to sit in a brainstorming session about entrepreneurial mentoring. During the discussion, we kept coming back to the notion that the would-be mentee needs to have a sound business idea before being accepted as one to be mentored. A friend at the meeting made a statement that I thought was truly insightful. He said, "We need to distinguish between mentoring the person and mentoring the idea."

I agreed that the two ideas were very different, and I began to think of the best professional mentors that I have had in my life. These are they who cared about my professional development first and foremost and cared less -- much less -- about an idea that may or may not be successful. As such, I can think of at least three reasons to mentor the person -- and not the idea -- who has come to enlist you as a mentor.

First, to focus on the idea as a mentor is, in my opinion, shortsighted. Ideas are often fleeting, but a relationship with a passionate entrepreneur will endure. If a mentor to Rowland Hussey Macy had been more interested in mentoring Rowland's idea rather than Rowland himself, then the relationship would have been short-lived. Rowland's first entrepreneurial venture failed, as did his second and third. Rowland persisted, however, and today the Macy's department store is an American icon.

A mentor is one who acts as a counselor, adviser and teacher. As such, ideas may come and go, but a true mentor-student relationship will be long-lasting.

Second, if you are mentoring the idea, you likely are not giving the budding entrepreneur the opportunity to come to his or her own conclusion. Likely, coming to this conclusion will involve making mistakes. Many suggest that more is learned through small failures than through major successes. In some cases, failure is even the fertilizer for great businesses.

Consider Matt Coffin. When one of his ventures failed, he was left without a business and without much money. From his predicament spawned the idea of an online portal that would help people search for less expensive utility providers. His company, LowerMyBills.com, is now one of the leading portals for helping people lower their monthly bills. His company claims to have helped save consumers nearly $150 million.

Had Matt not been able to make his own mistakes he may not have thought up the gem he now runs.

Finally, I think it is a bit presumptuous for a mentor to suggest that he or she knows the outcome of any certain business idea. Many successful businesses must have faced certain opposition from those who thought that they knew better. Think Starbucks. Who would have thought that selling a cup of coffee for $4 is a good idea when coffee is available at the fast-food chain next door for 50 cents? With more than 5,600 coffee houses, Howard Shultz, founder of Starbucks, certainly had the passion necessary to beat the odds and create a business out of an idea at which many certainly must have scoffed.

Become a mentor -- or find a mentor -- who helps people reach their potential, not one who is only interested in helping to get an idea off the ground.

author1 is associated with the BYU Center for Entrepreneurship. He can be reached via e-mail at Mr. Williams is associated with the BYU Center for Entrepreneurship. He can be reached via e-mail at cfe@byu.edu. .