The Importance of Mentors for Women

Mentoring: People and Success Presented at Wake Forest University 10.28.09

Agenda/Topics To Be Covered
Mentoring 101
Interactive Exercise
Mentoring Tools and Templates
Q & A

Goals of this Presentation
To inform and inspire: Mentors are “kind of a big deal.”
To drive action: Go out and get a mentor. Today.

Mentoring & Hot Mommas
The Hot Mommas® Project :
Virtual MENTORS for women and girls
Highly integrated with social media
World’s largest
A mission-oriented, for-profit venture housed at GWSB
Academic awards & featured in…

Screen shot of www.HotMommasProject.org
structured blog format searchable by tag, category Connect with women through social media

Mentoring and GWSB
George Washington University School of Business:
Award-winning Women’s Entrepreneurial Leadership class.
MENTORING module built into class.
Hot Mommas® Project curriculum.
Princeton Review #2 “Greatest Opportunities for Women.”

Wake Forest and Mentoring-Resources
Business School – Executive Partners
Women in Business Mentorship Program
Law School
Meetups
Fellows Program

Mentoring Definition
Men·tor (mntr)
A city of northeast Ohio, a residential suburb of Cleveland on Lake Erie. Population: 51,600.

Okay, Really…Mentoring Definition
men·tor (mntôr, -tr)
1. A wise and trusted counselor or teacher.
2. Mentor Greek Mythology Odysseus's trusted counselor, in whose guise Athena became the guardian and teacher of Telemachus.
To serve as a trusted counselor or teacher, especially in occupational settings.
To serve as a trusted counselor or teacher to (another person).

Quick Check-Where Do Mentors Come From?
A. Professors and Teachers
B. Friends and Family
C. Peers and Professionals You Admire – Networking Events, Introductions, Classes, Being Out in the World
D. The Mentor Tree

What It’s Really About: Inform and Inspire
Mentors HELP you
In this day and age of fast change
With decisions, personal and professional
With things that MATTER TO YOU
You can HELP MENTORS
Informing them of their impact
Help with a project / information share
Gratitude

Mentoring = A Key Success Factor
Those who sought a mentor out had higher pay and higher hierarchical status.
Source: Self-initiated mentoring and career success
Gerhard Blickle, Alexander Witzkia and Paula B. Schneidera

Mentoring = Bigger Impact for Women
Women and girls are more likely than men to limit their career choices due to lack of confidence .
Women are less likely to promote achievements at work.
Source: Cox, L., Mueller, S., & Moss, S. (2002). The impact of entrepreneurship education on entrepreneurial self-efficacy . International Journal of Entrepreneurship Education , 1 , 2.
Source: Career Women are their own worst enemies

Does it REALLY Matter if Women Don’t Ascend?
Globally, country economic growth correlates highly with female entrepreneurship ( GEM study ) .
Fortune 500 companies that promote women to top executive positions are 69% more profitable than the industry median ( A Harvard/ Pepperdine Study ).

Mentoring & Women…Our Call to Action
We can stick with the status quo,
or
Be one of the people, companies, managers, educators, universities, industries that “gets it.”

Summary of Mentoring 101
It helps you succeed.
It’s a big deal for women. Leaders who get this will win.
Mentoring relationship goal: Inspire and inform – both ways.

Mentoring 101
Q & A

Case Study - Hot Mommas Project
Q: How successful do you feel relative to other colleagues?
“ More successful”
“ Just as successful”
“ Less successful” – 20% drop in # of professional mentors
Source: Hot Mommas Project in-depth survey of 269 working women

Rachel feels “less successful”
Works for big company, Media industry, manager level, has her masters.
Between 36 and 45 years old, married/life partner, no kids.
Perception of success = low. “I feel as though I work many hours... on many projects but am not getting ahead. Others who have less workload are more successful…. I don't have a mentor.”

Alicia feels “more successful”
Business owner, Leisure industry, CEO, has her college degree.
Between 36 and 45 years old, married/life partner, two kids.
Perception of success = high. “I define happiness as not wanting to be anywhere else other than where you are right now. I am happy. I don't know a lot of people that can say that… It is amazing how many people will offer you advice or help you if you just ask! I have been good about developing relationships that can help me achieve my goals.”

Case Study Discussion
Q: What are the differences between Rachel and Alicia?

Time to Get REAL
What is mentoring – REALLY?
It’s all about PEOPLE

Exercise: Think About People
Q: Think about one of your most successful mentoring / influential relationships.
What qualities did that person have?

Exercise: Think About MORE People
Q: Think about your personal board of advisors.
Who is sitting around that table, and why?
Academic Tech Women’s Leadership Entrepreneurship Corporate Industry experts Thinking big experts Media/content packaging

Exercise: Your Personal Board of Advisors Good friend You in 5 years You in 10 years Entrepreneurship Corporate Industry expert Industry expert Industry expert

Exercise Follow-up: TALK to the PEOPLE!
T ARGET - Make a target list of individuals. (Passion)
O RDER - Order from most to least accessible. (Purpose: Prioritize)
G OOGLE - Develop Google alerts with their names. (Prep)
A PPROACH - Approach them. (Performance)

Mentor Communication
Meet
Networking event
One on one
Email / letter
Twitter / Facebook
Manage
Conversation when issue arises
Coffee 2 – 4 x per year
Monthly meetings + emails
Daily assignments for finite period, then repeat cycle

Time to Get REAL
There is no mentor tree.

Time to Get REAL
It’s about people...making the effort…connecting…learning…
Communication
Networking/Relationship-Building
Social Maturity & Self Awareness
The 5 th P

Quick Check In
A Mentor Relationship is:
My responsibility to maintain
The mentor’s responsibility to maintain
Someone else’s responsibility to maintain
A combination of some or all of the above

Summary of Interactive Exercise
Desirable traits of mentors. Personal board of advisors.
It’s about people – you, them, connecting.
There is no mentor tree.

Mentoring 101
Q & A

Mentoring at Universities Networking events Formal alumni outreach program Mentor assignment integrated in class Guest speakers Self-initiated

In-Class Integration of Mentoring
Women’s Entrepreneurial Leadership - 25% to 33% of class
Mentor assignment with alum/business community member
3 meetings + written deliverable
Toolkit - Networking and communication
Networking and communication toolkit assignments
Peer mentors
Write own case, provide feedback on classmates cases
Financial literacy help groups / ad hoc assignments

Sample Mentor Project
Part 1
Mentor Interview – Alum/Business community member
Part 2
Attend an event with the mentor to practice networking;
Visit the mentor’s workplace to see her in the role of entrepreneurial leader;
Work with the mentor on a specific area of personal or professional development.

Sample Peer Mentor Project
Students write own case at www.HotMommasProject.org
Students blog feedback - YPO-based communications protocol
Example: “Thank you! I am not alone. I felt the exact same way last year when I started the MBA program. I was nervous about starting school again, honestly I didn’t think I would make it through the first semester….I think what really got me through was looking around and realizing that my cohort-mates shared my same fears and concerns. I think it is important to remember that we are not alone and usually, there is someone who feels the same anxiety and pressure.”

Mentoring at Universities Networking events Formal alumni outreach program Mentor assignment integrated in class Guest speakers Self-initiated

Self-Initiated Tools
For the Real World
Three session class / series of exercises
Mentor qualities and target list
Mentor approach
Mentor project and report
Templates for mentor communication
Certificate upon completion

Today
T Make a target list of individuals.
O Order from most to least accessible.
G Develop Google alerts with their names.
A Approach.

With Regard to Women…P.s.
For professional relationships, gender does NOT matter
For personal relationships, it DOES
Tip: Before doing a match, be sure to understand the range of personal-professional issues to be discussed.

What we can do as leaders –
Foster the confidence to:
Make connections and learn skills that will benefit students for life:
Communication
Networking/Relationship-Building
Social Maturity & Self Awareness
Resulting Success

Notes: Where to Start – Key Elements
Size: Small, grassroots start – then expand.
Measurement: Evaluated by students.
Staff: University side “screeners”
High level of facilitation
High level of structure

Notes: Mentorship program models
Formal & Informal
Corporate
Educational/University
Industry
Leadership groups
Peer mentor
Superior – “Where I want to be.”
Group
One on one

Notes: Reasons to Support a Mentor Program
Mentoring at Universities
Alumni involvement
Student learning opportunity
Network building / support
Enriched experience
Mentoring at Organizations
Retention
Culture
Training
Support

“I want to learn more”
Mentorship tele-seminar: How to Find a Mentor
www.MyMentors.eventbrite.com

The Importance of Mentors for Women

by Hot Mommas Project on Mar 28, 2010

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