Pay it forward: Benefits of mentoring a young professional

Are you a successful business leader and would like to leave a legacy behind that would make the business world a better place? 

What advice will you give your 26-year-old self? Did you ever consider mentoring a young professional? 

You have power, prestige, influence, and wealth and the general perception of everybody is that you made it. However, according to Harvard Bussiness Review, many CEOs have feelings of isolation. Findings of the CEO Snapshot Survey™ reveal that half of the CEOs report experiencing feelings of loneliness in their role, and of this group, 61 percent believe it hinders their performance.

Benefits of mentoring a young professional

• Build your network with fresh talent
• Learn from the mentee
• The mentee can become your client or you become their client
• Reinforce your skills and beliefs and allow you to rethink your beliefs
• Develop your leadership and management qualities
•  Increase your motivation when you benefit from the energy of a vibrant young professional
• Gain recognition for your skills and experience from somebody that doesn't want to take your job
• Benefit from a sense of fulfillment and personal growth
• With today's bright and ambitious young professionals it's a reality that you may one day work for your mentee.

LinkedIn is a great tool to find a mentee

With more business decision-makers working from home, online connections have become increasingly important for business in the last year. LinkedIn saw a 55% increase in conversations among connections in 2020

Source: Hootsuite & We Are Social

59.9% of LinkedIn’s users are between 25 and 34 years old.

41% of older millennials—aged 26 to 35—have decision-making responsibilities.

Using LinkedIn as a communication channel a mentor can manage their time available and keep it professional.

Importance of mentorship

Behind every great business, there are great mentors and advisors. Steve Jobs had Ed Woolard and John Sculley, Bill Gates considers Warren Buffet a mentor.

Kabbage, Inc., recently surveyed more than 200 small business owners throughout the U.S. to evaluate the importance of mentorship. 

Only 22% of small businesses had mentors when they started their business. Another 17% indicated they have or had an advisor, possibly a paid relationship for consulting and advice. This leaves 63% of business owners who do not have professional guidance at the onset of their business.

The statistics for new business failure are dire: 20% of small businesses fail in their first year, 30% of small businesses fail in their second year, and 50% of small businesses fail after five years when their financing or enthusiasm, or both, dry up.

92% of small business owners agree that mentors directly impact the growth and survival of their business.

Of all respondents, 89% of small business owners who didn’t have a mentor wish that they did. (Forbes)

“A great mentor is someone who offers objective advice, provides counsel from a fresh perspective, is willing to collaborate, listen and learn, as well as helping you stay focused on your goals, your purpose and what you’re working so hard to achieve,” notes Amy Zimmerman, Head of People Operations at Kabbage. 

21st-Century skills that young professionals need

• Flexibility: Deviating from plans as needed,
• Leadership: Motivating a team to accomplish a goal,
• Initiative: Starting projects, strategies, and plans on one’s own,
• Productivity: Maintaining efficiency in an age of distractions,
• Social skills: Meeting and networking with others for mutual benefit.

My advice for my 26-year-old self

• Invest In Yourself “Invest in as much of yourself as you can, you are your own biggest asset by far.” – Warren Buffett
• Learn How to Sell. Even if you don’t see yourself as a salesperson you must learn to sell your services, ideas, principles, and yourself
• Connections are everything. We always joke that with my 20000 connections it would be possible to reach Kim Jong-un of North Korea   
• Health is Wealth
• Set Big Goals “Life takes on meaning when you become motivated, set goals and charge after them in an unstoppable manner.” —Les Brown
• Don’t be afraid to fail. There is more to learn from failure than success.

“You miss 100% of the shots you don’t take.” — Wayne Gretzky.