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Myths & facts about being a mentor

Wouldn’t you have liked to have had an experienced mentor to turn to when you started out?

The first few years are usually the most daunting and demanding for new entrepreneurs. With so many things happening at once, the pressures are many and the empathy from others scarce. Alone and forced to reconcile their vision with countless operational and management realities, they are called upon to make a slew of important decisions, sometimes in rapid-fire succession. (Let’s not forget that most bankruptcies can be traced back to unsound business choices…)

 

Wisdom = Experience + Time

Over the years, entrepreneurs gain a better understanding of themselves, develop their reflexes and fine-tune their decision-making skills. They learn how to “be” an entrepreneur and become more comfortable and effective in their role. If you’re an experienced entrepreneur, you probably know what this feels like! You have already been down that road, and your insights can inspire others to follow in your footsteps and do it with increased confidence and ease. 

 

Help boost the entrepreneurial survival rate!

It’s a fact: mentoring is a powerful development tool that can make a real difference for up-and-coming entrepreneurs. Not only does it have a proven track record in helping keep entrepreneurs and their businesses afloat past the critical five-year mark, it gives them the tools they need to thrive over the longer term.

 

Here is a basic overview of what Réseau M membership involves:

  • It starts with pairing you with a mentee, based on your respective affinities, their needs and your entrepreneurial background. If the match doesn’t prove to be a good fit, the mentee can ask to be paired with someone else.
  • Your mentees will not work in the same sector as you do. This helps avoid potential conflicts of interest and keeps mentees from falling into the trap of concentrating on the “micro” instead of the “macro” side of their business. Ultimately, your role is to help them see beyond the trees and envision the entire forest!
  • It’s important to remember that even the most prosperous entrepreneurs don’t have all the answers. And entrepreneurs are not necessarily born mentors. Business savvy is one thing. The ability to “stop, look and listen” and let other entrepreneurs tap into this insight is quite another. That is why developing mentorship skills is one of our top priorities here at Réseau M.
  • Experienced entrepreneurs have wisdom to share – no matter what their age or stage of their career. You might think, for example, that a retired entrepreneur would make for the ideal mentor. Not necessarily! Many of our mentors are still active entrepreneurs who are highly respected in their business circles and the broader community.