A sustainable development of entrepreneurship will not be possible in such a complex andchallenging environment as today’s society, without the attainment of effective learning andbusiness support capabilities (Williams, 1998). One such support is obtained through havingexperienced entrepreneurs mentor less experienced entrepreneurs, transferring knowledge(Clutterbuck, 2004) and facilitating learning (Sullivan, 2000). As Leonard Bisk (2002)and Sullivan (2000) among other researchers (Deakins et al. 1997) stress, there is a need tolook beyond the start-up process of a firm and the use of mentorship in this early phase,and focus more on how entrepreneurs who have been in business for a while can benefitfrom a mentor program, an area referred to as “the nature of timing and support” (Sullivan,2000, p. 163).

The purpose of this thesis is to explore how an experienced entrepreneur, a mentor, canhelp a less experienced entrepreneur, an adept, achieve entrepreneurial development duringand throughout different phases of the entrepreneurial life cycle, in the most efficient manner.

An entrepreneurial life cycle can be divided into several phases, which can be used in orderto examine the entrepreneur’s development process within different time periods of runninga firm. Start-up support generally involves providing entrepreneurs with the crucial“tools” for survival, such as basic financial support, bookkeeping and marketing (Sullivan,2000). Mature entrepreneurs generally request psychological benefits, such as reassuranceand improved confidence as they wonder whether or not their experiences are normal andhow they should be interpreted (Megginson et al. 2006). There are two types of directivementoring styles, coaching and counseling, and two types of non directive mentoring,counseling and networking.

The main objective with our research in this thesis was to explore how entrepreneurs’ developmentthroughout and during different phases was affected by active participation in amentor program. To gather information we used a qualitative method, in which we interviewedten entrepreneurs who were currently active in a mentor program, or had been activewithin the last 12 months. The empirical findings were later analyzed in the light of theframe of references and the authors own viewpoint, by conducting a within case/cross casecomparisons.

The results indicate that a mentor can best help an entrepreneur achieve entrepreneurialdevelopment by providing non directive support, enabling the entrepreneur to draw his orher own conclusions and stimulate self reliance. This support is best delivered after thestart-up and conception phase, the first phase of the life-cycle.