Mentorship vs Funding: Which Is Better for Your Multi-Million Dollar Empire Goals?

Okay, let's get real for a minute. I get this question almost weekly: "Falesha, should I focus on finding a mentor or should I be out here chasing investors?" And honestly? This question tells me you're thinking about this all wrong.

Here's the truth bomb nobody wants to tell you: You don't have to choose. In fact, the most successful women I know in real estate and business didn't pick one over the other, they strategically stacked both to build their empires.

But since you asked, let me break down exactly when each one matters most and how to use them to your advantage.

Why This Question Hits Different for Women of Colour

Before we dive in, let's acknowledge the elephant in the room. As women of colour, we face unique challenges in both mentorship and funding spaces. Traditional funding often comes with biases we shouldn't have to deal with, and finding mentors who truly understand our journey? That's its own challenge.

But here's what I've learned building my empire: when we approach both strategically, we don't just level the playing field, we dominate it.

The Mentorship Reality Check

Let me tell you about mentorship from someone who's been both mentored and is now mentoring others. The stats don't lie, businesses with mentoring survive at rates of 70% versus 35% for those without. But beyond survival, it's about thriving.

What mentorship actually gives you:

• Real talk about mistakes before you make them

• Connections that would take you years to build alone

• Confidence to make bigger moves

• Someone who believes in your vision when others don't

When I started, I had mentors who opened doors I didn't even know existed. They introduced me to key players in real estate, shared strategies that saved me thousands in mistakes, and most importantly, they saw my potential before I fully saw it myself.

But let's be honest about the limitations:

• A mentor can't write you a cheque for that property down payment

• They can't fund your marketing campaigns or hire your team

• Their advice is only as good as your ability to execute

• Some mentors might not understand your specific market or demographic

The key is finding mentors who get it. Look for successful women, especially women of colour, who've walked similar paths. Their guidance hits different because they've navigated the same systemic barriers you're facing.

The Funding Game: What Nobody Tells You

Now let's talk funding. Money is the fuel that turns your vision into reality, but it's not the magic solution everyone makes it out to be.

What funding actually does:

• Accelerates your timeline dramatically

• Allows you to take bigger risks and opportunities

• Gives you runway to focus on growth instead of survival

• Opens doors to premium properties and investments

I've seen women transform their businesses overnight with the right funding. That property flip that would have taken two years? Done in six months. That expansion into commercial real estate? Happening now instead of "someday."

But here's the real talk about funding challenges:

• Women receive only 2.3% of venture capital funding

• Women of colour? We're talking about fractions of that percentage

• Funding often comes with strings attached

• Investors might want to change your vision

• The pressure to show immediate returns can be overwhelming

The funding game isn't just about having a great idea: it's about knowing how to package and present that idea to people who might not immediately see your vision.

My Framework: The Strategic Stack

Here's how I teach my clients to approach this, and it's the same strategy I used to build my empire:

Phase 1: Foundation (Mentorship First) Start by building relationships with mentors who can validate your strategy and open their networks. This isn't about finding one perfect mentor: it's about building a advisory network of 3-5 people who can guide different aspects of your business.

Phase 2: Credibility Building Use your mentors' guidance to create proof of concept. Start small, show results, document everything. This builds your track record and makes you attractive to funders.

Phase 3: Strategic Funding Now you're not desperately seeking money: you're selectively choosing investors who align with your vision and can add value beyond just capital.

Phase 4: Scale and Repeat Continue leveraging mentorship for strategic decisions while using funding to accelerate execution.

When to Prioritize Mentorship

Choose mentorship first if you're:

• New to entrepreneurship or real estate

• Unclear about your specific niche or strategy

• Missing key industry connections

• Struggling with confidence or imposter syndrome

• In a market you don't fully understand yet

I always tell women: "Get clear before you get funded." Mentorship gives you that clarity.

When to Prioritize Funding

Go after funding first if you:

• Have a proven track record and clear strategy

• See time-sensitive opportunities in your market

• Have validated demand for your services

• Possess the systems and knowledge to scale effectively

• Know exactly how you'll use the capital to generate returns

The Real Question You Should Be Asking

Instead of "mentorship or funding," ask yourself: "What's my biggest bottleneck right now?"

If it's knowledge, connections, or strategy: prioritize mentorship. If it's capital to execute on clear opportunities: prioritize funding. If it's both: look for programs, accelerators, or networks that provide both.

Your Action Plan for Building Your Empire

This Week:

1. Write down your biggest business challenge right now

2. Identify whether it's a knowledge/network issue or a capital issue

3. Research three potential mentors or three funding sources based on your answer

This Month:

1. Reach out to those mentors or funders with a clear ask

2. Join communities where successful women gather (online and offline)

3. Start documenting your wins, no matter how small

This Quarter:

1. Establish at least one solid mentoring relationship

2. Create a clear funding strategy if capital is your priority

3. Build systems that make you attractive to both mentors and funders

The Empire Mindset Shift

Here's what I want you to understand: successful empires aren't built by choosing between resources: they're built by strategically combining them. Some of the most powerful women I know started with mentorship that led to funding, or used initial funding to attract even better mentors.

Your empire isn't just about the money you raise or the advice you receive. It's about how strategically you combine every resource available to you to create something bigger than yourself.

The women who are building generational wealth right now? They didn't get stuck in either/or thinking. They created and/both strategies that compound over time.

Stop asking whether you need mentorship or funding. Start asking how you can strategically leverage both to build the empire you're destined to create. Because trust me, you're capable of so much more than you're currently allowing yourself to dream.

Your empire is waiting. Now go build it.