Mentoring for entrepreneurs is a relationship in which an entrepreneur is matched with an experienced business manager in order to:
- Validate business strategies and decisions;
- Acquire self confidence;
- Develop managerial skills;
- Build a business network.
This special relationship encourages sharing of values, expertise and self management skills in strict confidentiality.
Mentoree: An entrepreneur who wishes to grow, learn and develop his expertise and sense of entrepreneurship.
- Must be the principal shareholder or owner of a business that has been operating for more than six months;
- Is willing to be matched with a mentor for a period of one year.
Mentor: An expert in his business domain, he has the knowledge and experience to guide the mentoree.
- Is available for 30 to 40 hours per year of volunteer work;
- Mentors at least one individual per year;
- Attends at least one professional development workshop per year.
To become a mentor or mentoree, contact our Communications/Marketing and Mentorship Agent at 450.370.3332 or firstname.lastname@example.org
Mentor, Coach or Consultant?
Advisers counsel, coaches help develop a specific skill or competency, consultants recommend, and mentors guide and motivate.
Consultants, coaches and advisors generally focus on knowledge and know-how. They master a specific area and are paid to carry out or to help accomplish a mandate or a set of objectives tied directly to their field of expertise and designed to produce short-term results for a business.
Mentors from Réseau M are qualified and experienced entrepreneurs who volunteer to regularly guide another entrepreneur over a longer term. The mentorees not only acquire more entrepreneurial savvy, but also learn to take a step back to better assess their options and thus move on to make their own decisions.
Five truths about Mentoring for entrepreneurs
- Businesses’ survival rates increase considerably if their owners have been mentored.
- Whereas coaches and consultants focus on know-how, mentors concentrate on attitude, self-management and life skills. Coaches help build specific skills or competencies; consultants make recommendations on a specific scenario, and mentors “accompany” mentorees in their role as entrepreneurs.
- Mentors are guides and confidants for mentorees, helping them break their isolation, sharpen their entrepreneurial instincts, take a sober second look at things and see the way more clearly.
- To avoid conflicts of interest, mentors do not work in the same field as their mentorees and cannot enter into a business relationship with them.
- Mentoring isn’t just for novice entrepreneurs: it can be just as helpful for those contending with a growing business or with a business transfer.