E X E C U T I V E S U M M A R Y
THE HIGHLIGHT REEL A qu i ck snapshot of i ns i ght s f rom i nves tor s , ESOs and ent repreneur s sur veys and focus groups
Coaching and mentoring can be an effective but resource-intensive support. The keys to a successful coaching or mentoring relationship are the quality and dedication of the coach or mentor, ensuring a good match with the entrepreneurs as well as the entrepreneurs' commit- ment to learning. 83% of entrepreneurs think it is important to be mentored by “An expert in my industry”, 70% “A successful entrepreneur”, and 65% “An expert in the technology I'm working with”. 72% of entrepreneurs think it is very relevant to get a ‘personal introduction’ to mentors. Research reveals that individually tailored support can address the needs of different target groups (including women and underserved individuals) as well as the specific challenges faced by the individual. It can promote learning; help develop self-confidence, motivation and entrepreneurship skills; facilitate access to resources and markets; and improve business performance. ESOs role consists of building a pool of mentors that can respond to these needs. However, current stakes show that only 1% of ESOs have a pool of 100+ mentors. 40% of ESOs have between 1 and 10 mentors. These figures are quite insignificant to respond to the needs of entrepreneurs. However, they do underline a possible challenge that ESOs are facing in desi- gning and delivering coaching and mentoring initiatives. To address this challenge, ESOs must build up sufficient numbers and capacities of coaches through network building and quality control by leveraging on existing relationships within the business community, whilst using coaches and mentors who can relate to entrepreneurs based on the environment they ope- rate in, the gender gap, as well as the nature of their businesses.
Theme 2. the right coaching and mentorship adds value to business survival and growth prospects:
N E E D S A S S E S S M E N T R E P O R T
Trends and insights from ESOs, entrepreneurs, and investors
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