In the world of business, the competition is fierce and it is not only what you know, but who you know. Whether you are a new graduate in the field of law or business administration, or you are an entrepreneur trying to succeed in the new world of global marketing, one of the surest ways to get ahead is to seek out and benefit from a mentor.

We have all had mentors. While in school, whether high school or post secondary degree studies, we listened intently to teachers and professors and learned about the subjects and industries we were studying. Agreed, we partially listened because they were the teachers and we were the students. However, many of us listened because those professors were the voice of experience that held the secrets of success for law students seeking to understand the legal system, MBA students looking to comprehend the world of corporate business, and even accounting students trying to grasp the complex world of finance. Regardless of the future profession, professors were indeed mentors.

In the wide world of business and entrepreneurship, you should still regard your chosen work as an education. Indeed, being on top of your game and learning all you can about your profession, industry or market is one of the best ways to get ahead and become successful. With the teachers in our past, the most effective way to learn from the experience of others is to find a mentor.

What is a mentor? In the simplest terms, a mentor is person who willingly shares experience, knowledge, wisdom and acumen about a certain occupation, industry or in certain cases a specific area of expertise such as finance, investing, or marketing.

You should understand that there is much more to a mentor that just learning from the mentors industry or niche market knowledge. In many cases, a mentor can provide inside information about a company or industry that becomes invaluable to you and your career success. A mentor may also voluntarily share significant life lessons such as mistakes they have made, or particular strategies they have used in the past that were very successful. It goes without saying that you can never put a price tag on this type of insight. One of the most incredible aspects of a mentor-protégé relationship is that the mentor is acting selflessly and is genuinely interested in helping the protégé to succeed. For a true mentor, there is never any personal, professional or political gain attached to the relationship.

Open yourself up to learning. A mentoring relationship only works when you are totally open to learning from your mentor. It is a total waste of time if you are not willing to absorb the lessons, the information and the teaching that the mentor is willing to share with you. This can be difficult for some people, especially those who are born leaders with strong personality types who prefer to be the source of knowledge. Always remember that in future, you will have your own opportunity to mentor an up-and-comer in your industry. For now, your goal is to learn all that you can about your career choice, your business industry or your market.

Follow the lead of famous mentor relationships. Famous and powerful people from all walks have long understood the power and importance of having a mentor. Andrew Carnegie, the founder of Carnegie Steel, which later became U.S Steel was a long-time mentor to Charles Schwab. Peter Drucker, the founding father of modern management was an instrumental mentor to Jim Collins, famous author and Stanford professor. In the world of entertainment, Jack Lemmon mentored Kevin Spacey, Carol OConnor was a mentor to Larry Hagman, and Mel Gibson is the mentor to Heath Ledger.

In brief, there are two types of mentoring relationships; formal and informal. Essentially, informal refers to a mentor and protégé who hook up voluntarily and on their own accord. A formal mentoring relationship is generally one that is part of a corporate program. For example, in law firms it is very common for a senior partner to be paired with a junior partner to teach, guide and support.

Whether your goals are to gain insight into the banking industry, launch an entrepreneurial business or gain knowledge about marketing in foreign countries, there is someone out there that can help you achieve your goals, gain solid information and learn the secrets that will help you succeed. The pleasant side effect of a mentoring relationship is that, in many cases, the mentor and protégé form a bond that lasts a lifetime.

Kurt Green is a representative for Advantage Conferences, a business mentoring company. http://earn7kathome.com/ Kurt is also the owner of Green Cylinder Heads, a high performance engine building company. http://greencylinderheads.com/