Since 2008, more than 60,000 mentors have donated their time, knowledge, and insight on MicroMentor; guiding entrepreneurs on their journeys and supporting small businesses through challenging times.
In 2020 alone, MicroMentor mentors donated more than $50 million USD of pro-bono services*, giving, on average, 35 hours of mentoring to 4 different mentees.
Those entrepreneurs that connected with a mentor were 60% more likely to report an increase in revenue and 27% more likely to secure a grant, equity, or debt financing in 2020.
Yet entrepreneurs aren’t the only ones that stand to benefit from a business mentoring relationship. Giving back brings mentors a sense of purpose and meaning, it helps to hone their leadership and management skills, and it provides a way to make a direct contribution to overcoming the economic effects of the global pandemic.
Mentoring creates meaningful experiences
Mentors felt they made a positive social change through mentoring and found a greater sense of purpose through their mentoring experiences.
"I really saw the impact that my time had, I had the opportunity to help [my mentee] gain income and grow his business. When you are mentoring someone in this way, it brings a new meaning to your life and the impact you can have on other people.”—Guillaume Maugin, mentor since 2021
Of those mentors who gave mentoring, 75% said that they benefited from their mentoring experience and 79% felt they gained a greater understanding of the issues faced by entrepreneurs.
Mentoring develops business and leadership skills
The experiences of the MicroMentor community challenge the traditional notion that mentorship is a unidirectional learning process where the mentor teaches and the mentee learns.
“It's been such a learning experience for me to walk through the entrepreneurial journey with someone who is just starting out. I think mentoring helps me stay sharp in my own journey, I learn about new industries and I love to be reminded of the excitement, the anxiety and the fear of starting out.”—Karen Jensen, mentor since 2016
Mentorship is, in fact, a two-way learning experience that benefits both parties involved. A majority of mentors on the platform have reported improving the following skills by volunteering with MicroMentor
- Critical thinking and problem solving
- Ability to develop innovative solutions
- Leadership and coaching
- Project management
Mentoring builds bridges
With community members from 179 different countries, mentoring is an opportunity to connect with an entrepreneur on the other side of the world and learn about entrepreneurship in their country.
Mentors and their mentees have gone on to forge friendships and business partnerships that cross borders and oceans. “I have been mentoring someone in Serbia for over two years, recently he came to US to visit me. We have become good friends and his business is doing well.”—Dick Barton, mentor since 2011