Mentor Network

To kick off the new year, we thought we’d help our readers connect to and understand the VALUE of mentorship with the help of the content in Module 1 of CYBF’s (the Canadian Youth Business Foundation) FREE Mentorship Crash course.

In module 1 of the course, CYBF articulates:

“Successful entrepreneurs know that the most effective way to shorten the learning curve in their business and avoid unnecessary mistakes is to engage someone who is further down the path they are following- a mentor”.

Our MENTORup user, Doug Crann validates this in sharing:

“Since [the] first meeting [with my mentor] we have been sharing ideas and suggestions for growth …  This experience has helped me become a stronger competitor and a more disciplined decision maker, qualities I know are essential to my continued success.”

Furthermore mentorship increases the chances of success:

“Research has shown that 70% of small businesses that receive mentoring survive for five years or more, which is double the rate compared with non-mentored entrepreneurs”.

- UK: Small Firms Enterprise Development Initiative

Also, Startup Compass shows that the average funding raised by stage is higher by companies who received mentorship, and exponentially higher beyond the validation stage.

For more information on the value of mentorship, visit Module 1 of CYBF’s FREE Mentorship Crash Course.