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For Mentors Of Entrepreneurs, There Are Many Kinds Of Rewards

There are many components to the region’s entrepreneurship ecosystem, perhaps none more important than the small army of mentors who are passing on what they know to a growing number of people looking to work for themselves instead of someone else. They impart to these entrepreneurs everything from the importance of understanding a spreadsheet to the notion that failure is … well, not unexpected and something to be learned from.

When asked what she tries to impart to entrepreneurs as a mentor, or do for them as she counsels them, Kasey Corsello summed it all up by saying that she tries to “normalize the emotional experience of it all, so they don’t feel like there’s something wrong with them.”

Anyone who has ever owned a business or tried to launch one — or mentored anyone who has, for that matter — knows exactly what she’s talking about.

“It is scary to be in the face of uncertainty, so I help them access their own inner resources, their own wisdom of lift experience to be able to make sound decisions,” said Corsello, a certified coach, co-owner, with her husband, of the Corsello Butcheria in Easthampton, and mentor with participants in EforAll Holyoke’s accelerator programs. “I help pull out their confidence and get them thinking that they can do this.”

With that, she described one of the many ways that mentors work with their clients and, while doing so, contribute in powerful ways to the vibrancy of the region’s business community.

Indeed, there are many components to the entrepreneurship ecosystem in Western Mass., and one of the most important is the small army of mentors who pass on what they know and provide much-needed sets of eyes and ears (especially ears) to those looking to start or grow a business.

And for this issue and its focus on entrepreneurship, BusinessWest talked with several of them.

Individually, and collectively, they spoke of the various kinds of rewards — and there are many of them — that go with mentoring, and about the various ways they try to counsel those on the other side of the desk, or the telephone, as the case may be.

This counsel can be technical in nature, such as how to read a spreadsheet and understand the numbers of business.

“I tell them that numbers really matter — get to know the numbers,” said Bellamy Schmidt, a retired executive who worked for many years at General Electric before moving to Wall Street and the giant investment firms JP Morgan and Goldman Sachs and then Holyoke City Hall, where he served as auditor. “As much as people may find the numbers uncomfortable, they basically tell the story of a business.”

In other cases, it’s practical advice, everything from understanding one’s audience and meeting its needs, to the importance of networking and relationship-building.

“I tell them that networking is the key to building relationships,” said Yadira Pacheco, who owns a real estate agency and is a mentor in EforAll’s Spanish program, EparaTodos. “I tell them to network every chance they get; it doesn’t matter if it’s linked directly to their type of business — they’re going to find somebody who knows somebody who knows somebody who’s going to connect with them because of what they do.”

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