Feature Address delivered by Sean B. Francis, Chief Executive Officer of Ferreira Optical Limited at YBTT's third annual symposium on youth entrepreneurship
Remarks by Carl A. Francis Permanent Secretary
What does a YBTT Mentor do?
Business mentoring does not require a significant amount of time. On average, the business mentor spends three (3) hours per month in contact with the young entrepreneur.
Once the young entrepreneur has received a loan, he or she may need advice on issues such as, how best to execute the business plan; cash management, pricing, marketing of products and services, and customer relations. Sometimes the entrepreneur may just need someone to call when times get tough.
A mentor helps to increase the skills and knowledge of the young person and is able to identify the areas in which the young entrepreneur may need more training. In addition to practical advice, mentors can also offer networking opportunities.
While the mentor offers guidance and advice, it is the young entrepreneur's right to make final business decisions. Mentors should therefore not force their opinions or advice, but instead allow the young entrepreneur's natural business instincts to flourish by helping them to make the most of their own ideas and enthusiasm and moulding them into successful business owners.