Mentoring the next generation of entrepreneurs | ONE

A good mentor won’t tell you what to do, they’ll help you see what you can do. I’ve seen firsthand how the right guidance at the right time can turn a promising idea into a thriving business.

On World Entrepreneurs’ Day, it is worth looking at how we can better equip the next generation of founders to succeed. Through the North East Venture Mentoring Service led by Opportunity North East, I work alongside ambitious entrepreneurs across the region. ONE licenses the Massachusetts Institute of Technology (MIT) venture mentoring framework, bringing a structured and proven approach from one of the best universities in the world to the Granite City and shire. This approach harnesses the power of a pool of trained mentors, matching their strengths and experience to founders' needs to overcome some of the barriers to growth.

One of the first hurdles any entrepreneur faces is ensuring their business idea has a market large enough to be viable. Understanding customer needs, tracking trends, and adapting to change are essential to attracting – and keeping – paying customers. Funding is the next foundation. Adequate capital, disciplined cash flow management, and a robust business plan provide the resources to move from concept to operation. Strong teams are equally critical. Recruiting people with complementary skills – and building the right chemistry – sustains both momentum and creativity. Time management is another key skill. Entrepreneurs juggle multiple priorities daily, and success depends on focusing on what truly drives growth. Legal and regulatory compliance is non-negotiable. Getting this right from the outset prevents costly problems and builds trust. Scaling a business brings new pressures: securing further funding, overcoming self-doubt, maintaining market insight, and keeping the right team in place.

I was lucky when I ran businesses that I always had the support of mentors. From the food industry my mentors included Robert Wiseman (CEO of Wiseman Dairies) Tom Kuzio (Vice President of Pepsi Co) and Robert Alexander (CEO of Scottish Courage). I was also mentored by Pat Machray, CEO of Johnston Carmichael and an entrepreneur for many years. I still have regular sessions with Pat, ensuring I keep focused on the areas that will deliver the greatest outcomes. I am a huge advocate of mentoring as I have seen firsthand the many benefits it brings.

The team mentoring delivered by ONE supports entrepreneurs in tackling all of these challenges – blending practical advice with peer insight. Entrepreneurship is a leap, but it doesn’t have to be a lonely one.

On this World Entrepreneurs’ Day, I celebrate not only those willing to take the leap into business, but those who stand beside them as they grow – a role I consider both a privilege and a responsibility. And to those who have experience to share, I say step forward. The next generation is already waiting.