Few things will help you keep your focus and kick things into higher gear than having a good buddy along for the ride.

You remember the “buddy system” from grade school—someone you paired up with who was supposed to help you stay in line, learn how to swim or keep your stuff picked up. In turn, you were required to do the same for your buddy.

When you have your own business, it pays to have at least one reliable buddy who can relate to your situation and make sure you’re heading in the right direction.

The Buddy System 2.0 goes by lots of names—mentors, masterminds, coaches and gurus. However you like to think of it is fine! The main point is to use the power of two or more people to  challenge yourself and make continual improvements.

Here are six tips for choosing and working with a buddy:

Find Someone Who’s “Been There and Done That”

Ask any successful business person, and chances are pretty good that at some point (probably throughout their career), they turned to others for advice. Jack Canfield (co-author of the Chicken Soup series and numerous other bestsellers including The Success Principles) recommends finding people who have already achieved the level of success you are seeking. You will be surprised how many people “above you” will gladly and willingly share their expertise if you ask nicely.

But don’t abuse the privilege; they may be happy to give you some of their time and tips, but recognize that what they have to give you is valuable. At some point, you have to be willing to pay for their time or their training products or services (if they offer any).

Make A Commitment

Just finding someone you can spill your guts to is great, but what you really want is someone to hold you accountable. Sit down and map out your goals with another person (or a group of like-minded people) and make hard commitments to take specific actions by specific dates. Force yourself to stay on track and avoid making excuses why you don’t get things done. Ask your colleague to check in with you at regular, frequent internals to gauge your progress and provide guidance when you hit the inevitable roadblocks.

Give Something In Return

Determine what is a fair exchange between you and your buddy or other partners. That may be an exchange for your dollars for their counsel, or it may be a barter situation where you give them your expertise in another area. Another idea is to find out what causes your mentor supports and offer to donate part of your earnings or time to support one of his or her favorites. Be creative in figuring out ways to demonstrate your appreciation.

Teach Others

Often the best way to learn something is not simply to glean knowledge from others, but to actively seek it out yourself. Pick an issue you are trying to solve and commit to teach someone else how to do it—even if it’s just your buddy. In doing so, you will be forced to stretch yourself, acquire new knowledge and apply new skills. Remember the old agage that if you just read five books on a subject, you’ll know more than most people about it. Choose those five books wisely and really study intently and put into action the information they provide. Supplement your learning by subscribing to blogs on the subject and seeking out podcasts, e-books and all the training classes (both online and offline) you can afford.

Remember to document everything you discover during your studies, especially meetings and discussions with your buddy and other advisors. Personally, I find that I’ll forget a lot of excellent advice if I don’t write it down! I use Evernote and Delicious, among other tools, to keep notes and bookmarks of important resources.

Put Your Money Where Your Mouth Is

I appreciate the Catch-22 of wanting to learn as much as you can with limited resources. Especially when it comes to something as broad as Internet marketing, the choices for information are literally overwhelming. The good news is, with unlimited time you can pretty much find out about how to do anything for free. The bad news is, you don’t have unlimited time. Nor would it be wise to hunt-and-peck around aimlessly. Ask your mentors and others in your area of interest what products they have bought that were truly worth the money. For example, several people have told me how good Jeff Walker’s Product Launch Formula is (if you’re looking to launch a product or service online). I personally haven’t bought it (and I can’t now anyway, until Jeff’s next release), but they validated that it was worth shelling out close to $2,000 for it. If you don’t have that kind of money, you might look for a monthly subscription based members-only site. Two that I have been part of and gained both expertise and contacts from include Internet Business Mastery Academy and Third Tribe Marketing. A word of warning: you tend get what you put into these sites. Don’t expect to simply pay the monthly fee and magically see your income skyrocket. You have to diligently work these sites, which means consuming and digesting the content and engaging with other members.

Never Undermine A Mentor

Never, ever seek advice from someone in order to compete with them. Professionals can spot this from a mile away, and it is one of the easiest ways to make enemies.

If you are trying to set up a business you feel may be competitive with a potential mentor in any way, state this upfront when you approach them. Tell them you respect them and want to ensure you are not asking for proprietary knowledge, and that you are not looking to steal business from them. Often, you may find the person is actually receptive to “competition.” I have found people, for example, whom I could actually outsource work to—things I might be able to do myself, but that I can’t due to scheduling or other commitments. Another approach is to ask for the mentor’s advice on how you might become a specialist in the field, take on work they don’t want or perhaps even serve as an apprentice or intern to learn their business. Seek ways to complement and work together with others rather than compete with them.

Buddy, Can You Spare Some Advice?

If you have worked successfully with a mentor or coach, what other advice do you have? Please share your comments below.