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Reasons You Should Be a Mentor

Reasons You Should Be a Mentor

As an experienced business owner or member of the business community, one of the best and most important ways you can give back is by mentoring the next generation of entrepreneurs.

Become a mentor

Mentors share their insight and knowledge to lead, guide, and inspire the business and community leaders of the future. They make what can be a scary venture into a collaborative one, and their wisdom and expertise help entrepreneurial beginners get off to a good start and/or continue their success with their businesses.

Mentors offer huge benefits to their mentees, but the reciprocal benefits and positive side effects of mentoring are even better. Here’s how.

Mentoring is Good for You
When mentors work with a mentee, they are challenged to think around new problems and find solutions to issues they have not yet encountered. Using what they already know and applying it to different situations, mentoring can keep the mind sharp and agile. Mentors develop professionally, and become even savvier entrepreneurs and more valuable assets to their employers.

For retirees who have slowed down in their businesses and careers, mentoring helps keep them active and engaged. Healthy social interaction and mental stimulation that comes from mentoring an entrepreneur can fill a gap that was previously filled by full time work.

Mentors enjoy networking opportunities, mixing with people in other social circles. They have the opportunity to learn and experience new things very frequently. It is incredibly fulfilling to the mentor to be able to pass on a wealth of knowledge and insight, and that’s how mentoring can increase life satisfaction.

Mentoring is Good for the Community
Mentoring has the ability to change someone’s life for the better. Research by MENTOR: The National Mentoring Partnership shows that people who are mentored are more likely to mentor others, volunteer, and hold leadership positions.

Small businesses are the backbone of the economy and when they do well, there are consequently more jobs created, more tax dollars generated, vibrant citizens, and a higher quality of life for everyone. There is an immeasurable social and economic impact to fostering entrepreneurship and helping the next generation of small businesses be successful.

If you’re a leader with business experience, contact the Thunder Bay & District Entrepreneur Centre today to become a mentor to a new entrepreneur or a small business owner of a growing enterprise.

The Thunder Bay Community Economic Development Commission (CEDC) and Thunder Bay and District Entrepreneur Centre offers FREE and confidential services to help small businesses start up, expand, and succeed. Their one-to-one business counselling, comprehensive information, consulting, and referral service make them a great first stop if you are starting a business or even thinking of starting a business. The Entrepreneur Centre (EC) can assist you to write a business plan, secure funding, and access other available resources. Call (807) 625-3960 to book an appointment or visit

Thunder Bay CEDC/Thunder Bay & District Entrepreneur Centre

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