The 5 Types Of Mentors Every Advisor Should Have In Their Life

As many professionals look for ways to move up the corporate ladder, a growing number of them are making use of a personal board of directors (PBDs) -- a small group of people whose job is to advise, inspire, and guide them toward a successful and rewarding career.

During a webinar hosted by the National African-American Insurance Association (NAAIA) as part of its National Women’s History Month Program, Gail Coles Johnson shared the benefits of a PBD and the types of members who should be on it.

Staffing A PBD

All professionals interested in advancing their careers should make it a priority to have a PBD, according to Coles Johnson, vice president and chief human resource officer for The Executive Leadership Council.

An effective PBD should have five types of members on it, Coles Johnson said. They are:

1. The Pusher. This individual knows you very well, Coles Johnson said, and will put her name on the line for you. She will motivate and inspire you and push you to higher levels of success.
2. The Advocate. This individual is very proactive on your behalf. She knows you very well and truly believes in you and your abilities.
3. The Lifter. This person will motivate and inspire you, serve as your cheerleader and help lift you up on your worst days. Coles Johnson recently called upon her lifter to help her deal with a situation and that individual really came through. “She truly inspires me,” she said.
4. The Mentor. The mentor plays a critical role in anyone’s professional development, added Coles Johnson. In fact, she said, everyone needs a mentor. “You can ask someone to serve as your mentor or she can volunteer to be one. She can be one of your peers or can occupy a position higher than yours. You can also have different mentors throughout your career,” she said.
5. The Sponsor. This individual is different from the advocate—she is not as active on your behalf as an advocate but can be asked for endorsement if the need arises. The sponsor cannot be asked to be a sponsor unless you have a prior relationship with her, Coles Johnson pointed out. Both parties should have a relationship that has been built and cultivated over time, she added.

Throughout her presentation, Coles Johnson stressed the need to have consistent communication with all PBD members. “Don’t call them only in times of crisis; you need to call them regularly,” she said.

Coles Johnson herself has not always used a PBD. When she graduated from college, she did not understand the need to have one. Coles Johnson said that if she worked really hard at her job and was committed to it, she believed someone at her organization would notice her and reward her for the diligence and hard work.

But she realized that that is not always the case. A professional who is eager to advance in her career must be more proactive and make good use of a PBD.

Interestingly, Coles Johnson’s first mentor was a white male, she pointed out. He approached her and asked if he could be her mentor. Then he took her under his wing and made sure she got her first advancement.

A Unique Challenge

During her presentation, Coles Johnson also addressed a challenge many female leaders of color face—their lack of understanding of the power they have in sponsoring others.

Some black female leaders tend to have an “impostor syndrome,” which makes them reluctant to actively sponsor others. They are afraid of what would happen if someone they sponsored does not work out.

But they should not be, Coles Johnson said.  Many white males are not hesitant in sponsoring others. If things do not work out, they simply admit their mistake and move on. A lot of black women “sitting at the table” are not that bold, but they should be.

“We have to become bolder and help others of color whenever we can,” she said.

Ayo Mseka has more than 30 years of experience reporting on the financial-services industry. She formerly served as Editor-In-Chief of NAIFA’s Advisor Today magazine. Contact her at amseka@INNfeedback.com.