Apr 30, 2009 - 08:36 AM
You can give back to your business community, inspire others ...and yourself. And, all you need to spend is a little of your time.
Business mentoring, offering the next generation of entrepreneurs the benefit of your expertise and experience, is an honoured tradition in the business community worldwide. Opportunities to be a business mentor in Durham have existed at the Business Advisory Centre Durham (BACD) for years.
Think back to your own beginnings in business. Chances are you had one or more mentors who helped you leap the inevitable hurdles, avoid the pitfalls and bridge the gaps in knowledge, skills and experience that are part of becoming a successful business professional and entrepreneur. This summer, you can pay it forward by playing a part in creating Durham's business leaders of the future.
Just five hours of your time makes a lifetime of difference.
Summer Company is an innovative program sponsored by the government of Ontario and co-ordinated in Durham Region by the BACD. Designed to inspire young people, ages 15 to 29, to consider entrepreneurship as a career option, the program provides awards up to $3,000 to help cover the costs of business start-up and training to provide the knowledge, skills and practical hands-on experience they need to succeed.
Mentoring is a vital part of the Summer Company program. Contributing a minimum of five hours May through August, Summer Company volunteer mentors provide advice, guidance and support to young entrepreneurs staring their first business.
It makes all the difference. The student entrepreneurs cite the help of their mentor as the most important factor in the success of their venture. The learning, personal growth and confidence gained from working with a mentor lasts a lifetime. Jeff Zuckor, a professor at Durham College, experienced the value of the program in his role as a Summer Company mentor last summer. "I strongly support the program," says Mr. Zuckor. "It's an unprecedented opportunity for young people to test the water and learn through experience when the risks are low."
As a mentor, you gain, too.
Guiding and coaching a young entrepreneur is a rewarding experience for the mentor. Summer Company mentors report that they get great satisfaction in supporting the success of a young entrepreneur. Mentors also benefit from the connections they make with other mentors and the broader business community through the association with BACD and the Summer Company program. "And there's nothing like watching a new business develop and grow and knowing you've been a part of it," says our Summer Company program manager, Wenda Abel.
Don't think you're ready to advise anyone? Think again.
Years of experience aren't the determining factor in being an effective mentor. Business acumen and strong communication are. Many mentors are surprised at how much they know and how much they can help. A mentor's role is definitely to give advice and guidance, but listening to understand concerns, then asking questions to help your protégé think through the issue to a solution is also important to being an effective mentor, says business coach and former Summer Company mentor David Cohen of Small Business Big Ideas radio show.
Summer Company volunteer mentors also receive guidance themselves in taking on the role. BACD runs information and orientation sessions for potential Summer Company mentors to introduce them to the program and prepare them for working with their young entrepreneur.
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