Mentoring[Part 2]

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Norman Rapino PhD MBAUniversity of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

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So now you have a Mentor Cohort…

Recap from Part 1 – and questionsExample from the University of Toledo

Now we will cover:2.1 - Matching Mentors with Mentees2.2 - Managing the Process2.3 - Keeping Mentors Engaged

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Based on the type/duration of assignment• Cohort, class, incubator• Ongoing program or short term / drop in

• Manual Match – connect them • Top 3: offer Mentor choice from list, then connect

Attend the initial meeting if you can

We do this in most program and educational situations.

2.1 - Matching Mentors with Mentees

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In some Incubators (TechStars, Y-Comb, etc.)• visible list of all Mentors and Mentees• Mentees talk to many and then select

Best used only in incubators/accelerators

2.1 - Matching Mentors with Mentees

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Before connection is made, orientation: • Program Details• Mentor Handbook and How To Be Mentored• Goals/expectations/milestones for the

specific program

2.1 - Matching Mentors with Mentees

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2.1 - Matching Mentors with Mentees

Chapter Questions?

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Before/when connection is made, be ready with • Orientation• Program Details• Mentor Handbook and How To Be Mentored• Clear definition of

ProcessGoalsMilestones

2.2 - Managing the Process

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Remember what we expect From Mentors(from their Handbook) • Be committed to the assignment, and learn our process and goals. You are usually an

extension of the teaching team or the director of the particular program.• Understand the program and teaching materials/methods.• Meet regularly and establish guidelines, expectations and deliverables. • You will bring real world “how to” experience and advice to help move the project along. • You should be ready to challenge the team as to whether they really have something good,

or something to shut off and move on from. • Learn enough about their tech/product/service and it’s potential market to provide

valuable input. • While you are not asked to sign a formal Non-Disclosure Agreement, remember to keep all

you learn from your mentee(s) in confidence.

2.2 - Managing the Process

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Remember what we expect From Mentors(from their Handbook, con’t) • Provide Business Model suggestions • Help the team learn how to do Customer Discovery and get the feedback necessary to build

a commercializable Business Model. • Help them pivot when they have to. • Identify and help the team correct gaps in the their business knowledge. (There will be

plenty!) • Help them to understand that their idea does not exist in a vacuum but is part of a dynamic

and evolving marketplace. • Help them understand that once this program is over, the work really begins. They will have

to continue to build a team, create a real set of cost and revenue projections, and if they can, propose a plan to attract investment in their venture.

2.2 - Managing the Process

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This is what we tell the Mentees(from their Handbook) • Meet and explain your technology/idea/product, using the Business Model Canvas • It should be brief/concise, and include a bio of the team members, how you came

together, and what the team hopes to accomplish. • They will help you, but not do the work for you. • Have a clear and concise elevator pitch ready. Never say “we would like to pick your

brain”. Do say something like “What do you think about …….”, or “How do I……. ?”. • Listen carefully. If you don’t agree with something, don’t argue or be defensive, but take

some time to think it over and then ask how the mentor came to that conclusion. If you don’t know the answer to a question, say “I’ll find out”

• Create and stick to the schedule based on your Mentor’s time needs. • Always say Thanks!, and make sure to be specific about what you will have as

deliverables the next time you meet/talk.

2.2 - Managing the Process

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2.2 - Managing the Process

Chapter Questions?

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• Increasing levels of prestige assignments• Publicize success stories• All have access to group via the help desk• Ongoing group gatherings

• Social• Educational

• Blogs, e-newsletters, etc.

2.3 - Keeping Mentors Engaged

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• Do not abandon them – keep in touch• Define and collect information - Metrics• At end, Mentors & Mentees – evaluate the

other

2.3 - Keeping Mentors Engaged

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Chapter questions ? Connect with Norm at nrapino@umich.edu or call at 734-647-7459 or 419-262-6222

• What have we missed, and can improve?• And share with us your experiences……