Mentoring programs:

Mentoring programs are used for transferring knowledge from experienced “mentors” to less experienced “mentees”. They can help the younger entrepreneurs to reflect their business behaving’s and together identify and improve the skills needed to succeed. In the case of the Senat, I believe that the older members of the Senat already have the experience and expertise young entrepreneurs are looking for. So why don´t we combine this in mentoring programs? The mentoring program could be designed as a strict or loose program with a lot or even less interaction. For example, the mentor can be the number one person in the Senat for the young entrepreneur if typical business questions occur. The mentor committed himself/herself to answer these questions as good as possible (“only” being a contact person in the Senat would be a loose program. A tighter version could be a more intense version which includes stricter mentoring which will need way more time than loose mentoring programs.

How do you become a mentor?

In the best case, a mentor is already a long-standing member of the Senat of the Economy and is very familiar with its structures and network. Additionally, mentors don't always have to be a CEO or a manager of a company. They can also be former members, leaders from the already existing network of the Senat or employees of members who excel in such a position. Mentors for young entrepreneurs who have previously participated in such a program in the Senat would also be conceivable in the long term.

What should a mentoring program cost?

This question I will leave open to the crowd because I didn´t find a proper answer yet.

Benefit for mentors and mentees?

What purpose can mentors have from their mentoring? Obviously, mentors have to put effort into the relationship and normally busy people only will do this if they see a certain purpose (value creation) for them. So my suggestion would be: The first benefit will be the exchange with a young entrepreneur and gaining insights in their firm for also potential cross-collaborations. Second, one could offer the mentors a discounted membership and, after successful completion of the mentoring program, the title "Mentor". Mentees can not only draw on the network and opportunities of the Senat, but also on the specific network of the mentor, which should ideally be precisely in the young entrepreneurs' industry.