Global survey respondents indicated that Gen Z (40%) and millennials (41%) are more optimistic about their entrepreneurial pursuits and are significantly more likely to engage in side hustles or run small businesses compared to Gen X (31%) and baby boomers (19%). However, despite their drive, most of these young underserved entrepreneurs lack access to mentorship, a crucial resource that can provide guidance and support during the early stages of their journey.
I myself have witnessed and reaped the benefits of having a mentor throughout my entrepreneurial endeavors. The impact of mentorship has inspired me to pay it forward by volunteering with organizations such as SCORE, BUILD and Youth Business Alliance as a mentor and coach.
While my initial goal was to share my knowledge and help emerging entrepreneurs from underserved communities succeed, I soon discovered that mentoring gave me just as much in return. Let me share with you some of the things I gained by giving back.
Related: 4 Lessons I Gained from Mentorship That Elevated My Startup Journey
I gathered fresh ideas and unique perspectives
When I talk to first-time entrepreneurs, I always challenge the traditional narrative of getting good grades, going to college and working for someone else. I believe that people who are driven, resourceful and autodidactic have a huge advantage in today’s world, given so much knowledge and resources are available online.
As I share with them proven business frameworks and principles that can be applied to today’s opportunities, I encourage them to embrace the evolution of commerce to ecommerce and live commerce. I also help them understand how marketing strategies have shifted from direct mail to email marketing and community building, and from conventional advertising to leveraging social media.
While I set out to teach, I also find myself learning in the process. What started as a teaching journey has turned into a shared learning experience. For instance, I’m always amazed at how these kids have a knack for social media. They know the trends and have developed creative strategies from their ventures that have inspired me to adapt to my own business. Every session is full of unique insights and creative approaches to problem-solving.
It made me reflect on my own journey as an entrepreneur
Mentoring has always been my passion as it allows me to combine my love for entrepreneurship with teaching, which are both rooted in my family’s traditions. Whenever I’m able to help someone clarify their goals, overcome challenges or achieve a milestone in their business, it gives me a sense of fulfillment knowing I made a significant impact on their life and career.
I once met a high school student who had built an impressive side hustle reselling video games. At first, he was quite reserved, but slowly opened up as we started talking about which games were easy movers and the setbacks he faced in running his business. One of his biggest challenges is gaining credibility, as many of his customers are surprised to see a teenager and can be a bit hesitant to work with someone so young. Despite this hiccup, he’s thriving and earning over $3,000 a month doing something he’s genuinely passionate about.
The unfiltered creativity, optimism and burning desire of these young entrepreneurs to solve problems, fulfill needs or monetize their passion is truly motivating. Even at a young age, they are able to visualize their goals, articulate a plan and execute it with determination.
These interactions prompted me to reflect on my own journey as an entrepreneur. It reminded me of my excitement and enthusiasm when I first started my side hustles and the thrill of achieving my goals.
I fondly remember trading baseball cards during my youth, a venture that helped me save enough to buy my first car while still in high school. Recalling these memories reignites my energy and strengthens my sense of purpose in pursuing entrepreneurship.
Related: How Expert Mentoring Can Boost Startup Ventures Forward
I grew as a mentor and leader
Mentoring has made me realize I needed to keep learning myself. Teaching others has helped me recognize areas where I can enhance my knowledge and skills. Listening to diverse perspectives and experiences has deepened my empathy, which taught me to connect with people in a more authentic and meaningful way.
As a mentor, I’ve also learned the importance of not being too rigid in my approach. Working with young, aspiring entrepreneurs has reminded me that there are many ways to solve a problem and that smart solutions come from unconventional thinking and experimentation.
The entire process of volunteering and mentoring has been instrumental to my growth as a mentor and entrepreneur. It has not only improved my coaching abilities but also helped me become a more compassionate and effective leader and founder. It has inspired me to look back on my own experiences, challenges and successes in both my personal and professional life. Knowing that I’m contributing to shaping the future of entrepreneurship adds even more meaning to my work.
I became part of a community with a shared purpose
It was inspiring to meet other volunteers and witness their genuine commitment to giving back. Some are passionate about helping students while others focus on supporting underserved communities. By working with young entrepreneurs and fellow mentors, I’ve gained access to a community that promotes collaboration, support and collective success.
Through these experiences, I’ve found that giving back not only builds a supportive network but also opens doors to collaboration, new partnerships and lasting friendships. Becoming a mentor and contributing to a larger movement of entrepreneurship has been truly rewarding. It’s a constant reminder to stay positive, stay curious and not get too academic.
Related: Why Real Mentors Don’t Just Give Answers — They Ask the Right Questions
Entrepreneurship happens in the wild and we need to get out there to understand what’s going on. The next gen is already here and eager to learn. There are incredible opportunities for the new to work with the old, especially when the shared goal is to build successful, sustainable businesses — a principle Fud holds close to its heart.
Lifelong learning is essential to success and I’ve been fortunate to learn from others throughout my journey. I plan to continue seeking mentorship and returning the favor by guiding the next crop of entrepreneurs.
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