Jean-Pierre Conte is chairman and managing partner of Genstar Capital, a private equity leader and philanthropist.
At any stage in one’s career, having a good mentor is key.
Mentorship is one of the most critical things any young (and even older) professional should be seeking out. Mentorship often allows junior professionals to borrow the brain and Rolodex of someone more senior, providing the mentee with key insights and contacts that will help them leverage any existing business acumen.
However, for the mentor, it must be more than calling a buddy on behalf of someone or sharing a bit of knowledge with a mentee. The relationship between the mentee and mentor is one of mutual vested interests.
How Early Mentors Helped Me
For me, my earliest mentors were a few of the biggest names—titans—on Wall Street. My father, an immigrant from war-torn France, moved to the United States at a young age, going on to serve in the American military before settling in New York as a tailor and clothes salesman. He serviced some of the city’s most prominent financiers. It was inside this midtown shop where I earned my first mentors.
The assets under management at the firm I helped build would’ve never been possible without these mentors—who, in between getting measured up for multi-thousand-dollar suits, took a vested interest in my father and, by virtue, me. My father, unlike many of these gentlemen, had not gone to college and spent day in and day out working with his hands and selling clothing to these men.
First-generation college students and professionals often have a vast information gap—and my father’s clients, my first mentors, helped close the gap. They provided me with internships and advice, which helped me build one of the most dominant private equity firms.
Mentorship played a vital role early in my career—and its influence hasn’t stopped.
Mentorship Is A Two-Way Street
Much of the discourse or thought about mentorship focuses on how the mentee can benefit from being taken “under the wing” of someone more experienced. This neglects the fact that mentorship often benefits the more senior person, too.
Today, I have the privilege of being a mentor—returning the favor and gift that was bestowed upon me by my father’s early clients. And on this side of the equation, I often feel that I am getting the most out of the relationship.
Through my work with various organizations, I invite students to our firm each year to learn about private equity, and often, many come to spend a summer interning at our firm. The students who I meet through these programs are often bright beyond belief but, similar to me in my early years, lack vital information as the first in their families to attend college. Through visits, internships and a lasting relationship—summed up in the word “mentorship”—these students are set up for success.
It is through this process that I have often achieved the most fulfilling experiences—far beyond that derived from closing a deal or launching a new fund. These relationships have given me the biggest reward of my career.
How To Build A Good Mentor-Mentee Relationship
Engaging in mentorship is a rewarding experience for everyone, but it requires effort from both parties to make it effective. For the mentor, this looks like:
1. Being Discerning
As much as it may feel tempting to want to help everyone, I suggest mentors be selective with who they are mentoring. Many programs help large numbers of students and early-career individuals, but mentorship is unique and requires investment and discernment.
2. Going Beyond Business
While mentorship is often rooted in business, I’ve noticed the most rewarding mentorships transcend the office walls. It is through sharing life lessons and experiences beyond the desk that you can make the most of this relationship.
3. Being Available
Often, the most vital questions or issues pop up at the 11th hour—having good communication and being an available resource and advisor is key.
My mentors had some of the greatest impacts on my own life. Now, as business leaders, I hope you’ll join me in exploring opportunities to be a mentor, working hard to help develop the next generation of great American minds.
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