Mentoring used to be a scarce resource but now there is much more access with 71% of Fortune 500 companies instituting mentoring programs as a part of their corporate structures. Companies now recognise that mentoring provides innumerable benefits for up-and-coming professionals. In fact, a Harvard Business Review report from 2015 states that 84% mentees felt that mentors had helped them avoid costly mistakes.

However, even with so many successful mentoring programs available, there’s still some confusion about how to work with a mentor. In fact, a Guider-ai report states that only 37% of professionals have a mentor, whereas most entrepreneurs starting their journey only learn how to do the right thing after repeated mistakes.

So, if you’ve been lucky enough to find coaching and mentoring in your field, you will help yourself by making the most of it. But keep in mind that a business mentorship should be a mutually beneficial relationship for both mentor and mentee.

Below we list some questions that you should be asking your mentor so that you both get the most from the mentorship experience. 

What’s your story?

There’s a lot to be said about experience, and as mentors go, they’ve been there, done that and have seen it all. Successful entrepreneurial journeys are like stories. They come with their protagonists, plot, pitfalls, achievements, and lessons. Getting insight into a successful person’s business can help mentees find parallels to their own situation. Knowing your mentor’s back story also gives you real-life reference points to ask specific questions that can help your business practice. 

What mistakes did you make?

Everyone makes mistakes along the way, and a mentor’s failures can guide mentees on what not to do! What’s more, a mentor who willingly owns up to these mistakes and helps you avoid making the same is a valuable resource and ally.

What can I do better?

Too often, people rely on their mentors like a crutch by seeking issue-specific advice and counsel. You need to be doing better. A mutually beneficial mentoring relationship is one that empowers you through another’s experience. Mentors are there to guide you and help you grow bigger and better by tackling any issue – now and in the future. Asking the hard questions like, ‘How can I improve?’ or ‘What should I not have done?’ and ‘What can I do better?’ can help you both find solutions to a broader picture. 

How would you like me to follow up?

Your mentor wants to know if they are making a difference through your mentoring relationship. They want to know what you did as a result of your conversations because they are invested in your development. Even if you didn’t take your mentor’s advice, asking how you can follow up on a topic can keep them motivated by knowing their time was well-spent, and you are processing their guidance. 

How do I do that?

The truth is that mentors don’t want to be revered. They are there to help you, so there’s no point in pretending you know everything already. Ask for help on things you don’t know and question where needed. A confident and professional mentor will probably respect you and help guide you accordingly. It pays to remember that your mentor is not a fortune teller. Exposing your insecurities or lack of knowledge on a subject can help drive a discussion that serves as a catalyst for the ways you need to develop to be successful. 

Whilst many professionals feel like they can manage by themselves relying instincts and gut alone, they are a poor replacement for experience. You need to remember that successful tech titans have all had mentors: Facebook’s Mark Zuckerberg was mentored by Steve Jobs; Jobs was mentored by Mike Markkula (an early investor and executive at Apple), and Eric Schmidt mentored Larry Page and Sergey Brin of Google. And though you may feel that you are at the weaker end of the relationship, asking the right kind of questions not only provides you with the correct business direction and incentive, it gives your mentor a sense of fulfilment that can keep him invested in your journey. So, don’t be afraid to keep asking. Sometimes, it is the difference between success and failure.

To find out how business mentoring programs can help guide your entrepreneurial journey, Jupiter Business Consulting Mentoring enlists some of the best mentors in the world to help guide individuals and companies in making smart decisions.