How To Build Great Relationships With Mentors And Advisors

A lot of people have mentors and advisers in their life and it is important to build good relationships with them, so that everyone can live a good life. Great businesses are built with a lot of effort and only a key handful of important decisions. A relationship with a mentor is what is called an informal relationship.

Key Takeaways:

  • Mentors are committed and generous with advice, experience, or introductions, but don’t guarantee any specific amounts of time, regularly scheduled meetings or deliverables.
  • The value of the Board Advisor can be tremendous as you move your business to a more formal and operational entity.
  • As your company moves into commercialization the value of a Board of Directors formalizes many of the necessary management processes.

“Effective relationships with mentors, advisors, and directors are based upon four main areas of concern and agreement between the parties; the Relationship, Value, Time Horizon, and Compensation.”

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