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Limited amount and reaching the right target group

Ideas of establishing mentoring programs already exist, but they need to be promoted in the right way and fitting target group.

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In order to increase the attractiveness of the mentoring programs and at the same time keep the initial "test group" of mentoring small, it is possible to advertise with a limited number. Here, my idea would be to combine one mentor program at a time with a pillar of the Senate. The Senate has 4 basic pillars that can be used as a guiding principle during the program. However, before going into the four different directions, the program can start with a workshop together with all four companies and the respective mentors by getting to know each other and providing the mentees with a consistent framework at the beginning (onboarding). Further, the workshop can answer questions that are important for young entrepreneurs in general such as legal matters, how to maintain/build your customer base, etc.

To actively promote the mentorin programs, there can be a public call for applications in which startups or even young family entrepreneurs can apply for a mentorin program with the Senate. The low availability can massively increase the demand and interest for such a place. Further, to promote these unique mentor programs, it makes sense to go to large events for young entrepreneurs, introduce the Senate and explicitly promote the "exceptional chance" of being a part of it. If the applications are successful, you not only gain four new, young members, but at the same time increase the awareness and attractiveness of the Senate in the target group. In addition, the Senate can promote the program at events that are specifically for family businesses. Every family business owner passes their company to the next generation at some point. If this does not happen now, such a program can still spread by word of mouth within a network of family business owners. Another alternative would be to cooperate with startup hubs and open up the Senate more, which would at the same time make it more attractive to young entrepreneurs, as they tend to be more laid-back and demand and appreciate flat, open structures. In general, these collaborations can look like members of the Senate giving talks at special events in the hubs over an actual topic and promoting the program at the end.

When promoting the program, it is crucial to clearly identify what the advantage is for the young entrepreneurs and what the scope of this program should be. In most cases, young entrepreneurs do not want to waste time and want to develop quickly. Programs that are too time-consuming or costly would therefore not be attractive.

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