A Mentor’s Role In Managing Risk

A Mentor’s Role In Managing Risk

A Mentor’s Role In Managing Risk

StartupDad LogoThis post is part of our StartupDad Series, in which David Moody — father of a teen entrepreneur and founder of the StartupDad blog — explores the trials, tribulations, joys, and achievements that young entrepreneurs and their friends and family face.

Recently, for about 30 seconds, I witnessed something that reminded me of the role of startup mentors.

I was leaving the library in Fayetteville, Arkansas and noticed a mother and her young daughter walking along the natural stone that lines the beautifully landscaped flower beds outside the building. The young girl appeared to be around three or four years old. She was walking along the rock boundaries of the elevated flower beds. Her mother walked along beside her, just below on the ground, with her arms stretched toward her daughter, just in case she started to fall. I was struck by the fearlessness of the young girl. She seemed undaunted by the potential risks of walking on a narrow, elevated ledge. Her mother mitigated the risk of injury by walking just below her on the ground, allowing her daughter to experience what it was like to be that far off the ground on a narrow ledge. Because of the trust the daughter had in her mother, she did not fear falling.

This reminded me of entrepreneurs, especially young ones, who don’t know, or choose to ignore, the risk of failure. They charge ahead to save the world, create the next great product or discover something the rest of us don’t know exists, without regard for their own personal or financial well being. They do these things simply because they believe they can and failure is really not even part of the thought process. We could all use a dose of that way of thinking. It’s liberating.

The mother reminded me of what good mentors are supposed to do for entrepreneurs. If an entrepreneur is lucky, he or she will have at least one really good mentor early in the entrepreneurial journey. The mom did not panic when she saw her daughter in that situation. A worried reaction may have startled the daughter and caused her to fall. Instead, she let her daughter have the experience, guided and reassured her along the way and made sure that, if she did fall, someone would be there to break her fall and help her up … to try again.

As a mentor to these young risk takers, I believe that is exactly what we are supposed to do — assist them in the process of managing risk. Stay close, provide our best guidance, let them learn through experience which will include failure, and don’t let them fall so hard that they don’t get up and try again.

As the father of a young entrepreneur, I experience the phenomenon described above with the mom and daughter, in a different way, every day. Joshua’s confidence and fearlessness are simply part of who he is. As his parent and business mentor, I have chosen to embrace his fearlessness, but put boundaries in place to limit his risk of failing so horribly that he’s afraid to try again. He has seen that I am not afraid for him to pursue his ideas and that I have confidence in him. I believe this further bolsters his fearlessness. Like a good mentor, I walk just a step behind, in case he starts to fall off the ledge.

THE TAKEAWAY: Young entrepreneurs – Be fearless and seek out good mentors for support. For, families, friends, and mentors of these young startup leaders – support their trapeze act, but be ready with the net.

Image courtesy of Flickr, Miki Yoshihito

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