2017-02-15 00:00:00 Self Employed English Ready to give back by being a mentor? Check out the benefits of becoming a mentor and guiding a mentee toward entrepreneurial success. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/business-owner-and-mentor-discuss-business-plan.jpg https://quickbooks.intuit.com/ca/resources/self-employed/inspiration-motivation/benefits-being-mentor/ Giving Back: The Benefits of Being a Mentor

Giving Back: Benefits of Being a Mentor

2 min read

Being a mentor can benefit you and your business greatly. A mentor shares information, fosters insight, and helps guide the next generation of business leaders to success. If you’re a seasoned entrepreneur, becoming a mentor can be a rewarding experience on a personal level.It’s also a great way to give back to the business community. Here are some key benefits of mentoring programs in business.

Expand Your Network Through Mentoring

Going through mentor training programs can help you meet other community-minded business leaders in your area. Additionally, your mentees may connect you to aspiring entrepreneurs in their circles. Networking through mentorship programs establishes you as a leader among your peers and helps you forge new relationships that may eventually lead to more business for your company. If you’re interested in becoming a mentor, look into national organizations such as Futurpreneur Canada. Provincial organizations such as the BC Women’s Enterprise Centre can also set you up with a mentee.

Groups focused on specific industries include the CPA Mentorship Program for accountants. You can also work with underprivileged youth with an interest in entrepreneurship or tech-savvy adults with physical limitations. Ultimately, it’s best to choose a group that appeals to you personally. Consider as well how working with the organization may benefit your business.

Develop Leadership Skills While Mentoring

Working with a mentee provides a great opportunity to hone your leadership skills. In the business world, strong leadership skills help with everything from managing employees to landing deals with clients. When you are with your mentee, you are out of your usual setting. That fact may inspire you to try new things from a leadership perspective. Additionally, mentees come from all walks of life. As a result, you may get the chance to work with a person who is substantially different from your usual employees and colleagues. That relationship provides an opportunity to explore leadership skills you likely never tried in the past.

Benefits of Giving Back to the Community

As a mentor, your role is to guide a young entrepreneur to success. Depending on the mentoring program you select, you may end up working with a new business owner, an individual trying to climb the corporate ladder, or someone who is unsure of which direction to go in their career. In most cases, the knowledge doesn’t just flow one way. In addition to providing your mentee with information and ideas, you may also learn a thing or two from your mentee. People who are new to the industry may have fresh eyes that allow them to see things differently than you.

Similarly, individuals from different generations may have ideas or knowledge that are new to you. In many cases, even the questions your mentees ask can help you refine business processes or gain a new understanding of key issues. The benefits of being a mentor can vary greatly, depending on your mentee, the program, and many other factors. Even as a mentor, you’re still in a position to grow. Sometimes you may want to switch roles and become a mentee. Luckily, there are lots of organizations that can help you find a mentor to provide the support you need.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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