1. Mentoring [Part 2] 1 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

2. So now you have a Mentor Cohort… Recap from Part 1 – and questions Example from the University of Toledo Now we will cover: 2.1 - Matching Mentors with Mentees 2.2 - Managing the Process 2.3 - Keeping Mentors Engaged 2

3. 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. 3 2.1 - Matching Mentors with Mentees

4. 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 4 2.1 - Matching Mentors with Mentees

5. Before connection is made, orientation: Program Details Mentor Handbook and How To Be Mentored Goals/expectations/milestones for the specific program 5 2.1 - Matching Mentors with Mentees

6. 6 Chapter Questions?

7. Before/when connection is made, be ready with Orientation Program Details Mentor Handbook and How To Be Mentored Clear definition of Process Goals Milestones 7 2.2 - Managing the Process

8. 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. 8 2.2 - Managing the Process

9. 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. 9 2.2 - Managing the Process

10. 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. 10 2.2 - Managing the Process

11. 11 2.2 - Managing the Process Chapter Questions?

12. 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. 12 2.3 - Keeping Mentors Engaged

13. Do not abandon them – keep in touch Define and collect information - Metrics At end, Mentors & Mentees – evaluate the other 13 2.3 - Keeping Mentors Engaged

14. 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…… 14