Guiding Success: Tailored Mentoring for Young Women Entrepreneurs
Challenges Faced by Young Women Entrepreneurs (YWEs)
In addition to access to finance and training, YWEs encounter numerous small but critical challenges within their businesses. These seemingly minor issues can lead to significant obstacles, hindering their progress and preventing business expansion. To overcome these hurdles, they require specific and technical support from experienced individuals who can guide them through these challenges and provide tailored solutions.
Interventions and Solutions Implemented
Mentoring and coaching have been integrated as supplementary tools alongside training to ensure that the trainees can effectively apply their newfound knowledge and find solutions to their specific business challenges. This approach provides technical tips and in-depth explanations related to their unique business models. One-on-one mentoring and coaching sessions foster a deep understanding between mentors and mentees, addressing both business and personal challenges.
Results of the Interventions: Impact on Target Beneficiaries
“I received invaluable one-on-one mentoring/coaching on business plan development, which has been incredibly beneficial for me. It enabled me to map out and measure my business results, identify areas for improvement, and achieve high performance,” shared Bout Rasin, the owner of Mak Num, a home bakery.
Rasin, the founder of Mak Num, a business specializing in delicious, healthy snacks and desserts, faced challenges due to a lack of business knowledge and the impact of the COVID-19 pandemic. However, after joining the WELL program and receiving comprehensive support, including mentoring and coaching, she experienced significant improvements. The sessions guided her to identify areas for business enhancement, target the right customer base, define unique selling points, understand market needs, plan for a future shop, and analyze competitors. These crucial aspects of business plan development provided her with a clear roadmap. As a result, Mak Num has experienced rapid growth and a substantial increase in sales.
Future Plans and Recommendations
Mentoring and coaching will remain an integral part of our capacity-building efforts for YWEs. This approach not only supports their businesses but also empowers them with confidence and emotional resilience. The program will continue to focus on providing tailored support to YWEs, ensuring that they are equipped with the necessary skills and knowledge to thrive in their entrepreneurial endeavors.
