This document discusses mentoring approaches for startup founders and emerging companies. It provides an overview of several key aspects of a founder-focused mentoring program, including: - Managing risks like "magic risk" (related to the product/market fit), "marketing risk" (go-to-market strategy and execution), and "money risk" (financial planning and fundraising). - The importance of founders building an advisory network to get feedback and reduce management risk. Mentors can help founders identify and recruit the right advisors. - Characteristics of effective mentor/founder relationships, such as mutual trust, shared benefits, individualized support, and engagement from both parties. - Different types of ment

1. 31st InBIA Int’l
Conference on
Business Incubation
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2. Mentoring – A Founder Focused Approach
Mentoring -
Founder-Focused approach to
launching startups and emerging
companies by managing risk,
business modeling, & providing tools
for increasing Founder success.
! Business Modeling
! Risk Mitigation
! Founder Success Factors
! Matching Mentors & SME’s
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3. Managing Founder & Start up Risk
For Major Risks in Startups!
1. Magic Risk
2. Management Risk
3. Market Risk
4. Money Risk
“A key role for a mentor working with
startups is to help founders identify and
manage risk in their business
enterprise.”
-Jasper Welch, SCAPE EiR, Durango, CO USA
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4. Advising regarding Magic Risk
! IP/proprietary & legal risks for startup
! Product Research & Beta testing, Tech feedback
! Industry trends, technical challenges, new tech
! Reducing Magic risk through strategic partners
Advising regarding Marketing Risk
! Value Proposition Canvas & Market Fit
! Solid “Go to Market” Strategy & Marketing Plans
! Customer validation, feedback & segments
! Developing marketing experts & advisors
Advising regarding Money Risk
! Valid financial assumptions, sales forecasts?
! Solid financial revenue estimates, valuation, ROI
! Best, worst, probable forecasts & how to fund?
Managing Risk – Role of Mentors & Advisors
De-Risking Strategies for Magic, Marketing & Money Risk
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5. Risk of “Going Alone” without help
! Single Founder who tries to “go it alone”
! De-risking with co-founder & management team
! Building a Board of Advisors, then a corporate Board
Risk of not being Coachable
! Leadership & Personal Assessments (self-aware?)
! Gap Analysis – Executive Skills & Training
! Taking Advice: Dan Ciampa http://www.danciampa.com
! Feedback is a gift – Founders role in advice taking
Risk of a flawed Business Model
! Developing a solid Business Model Canvas
! Recruit, retain & develop “Key Managers”
! Role of Founder & role of others in Business Ops
Managing Startup Risk – Management/Founders
Founder-Focused Mentoring
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6. Willing to Develop Interpersonal Skills
! Recruit, Development, Train Your Management Team
! Effective Communications & Biz Dev Skills
! Personal Development & Emotional Intelligence
Leadership & Taking Advice Skills
! Outward Focus and Situational Awareness
! Being Coachable & Willing to Create Advisory Network
! Learning to Lead by Example (Gap Analysis)
Managing the Money (OPM)
! Financial Management, Acct Supervision, Forecasting
! Willing to learn finance, Excel, Sales forecasting
! Fiduciary responsibility, Managing Money (OPM)
Role of the Founder (Mentee)
Founder Success Factors – Willingness to be Coachable & Take Advise
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7. Mentoring – Building an
Advisory Network as a Founder
Advisory Networks*
For a startup founder, emerging
company CEO and member of
management team, a key part of the
mentor role is to help the
entrepreneur build an advisory
network.
! SME Advisors
! Professionals: CPA, Atty, PE, etc
! Board of Advisors
! Personal, Political, Financial
Innovation – Galloping Goose Rail Bus
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8. Role of Mentor in Advisory Network
! Assist Founder(s) & Mgmt team w/ Advisory Network
! Don’t get your advice & money from same place!
! Being a back stop & coach to sort through advice (TMI)
! Reducing management risk with authentic feedback
Role of Mentor in work with Founders
! Gap Analysis: working on leader/manager skills
! Co-Founder & management team communications
! Founder relationships with Board, key investors
Role of Mentor in SME’s (experts)
! Assisting to in process to find + retain best SME’s
! Making sure financial advisors sound & qualified
! Assisting in internal vs. external SME’s, staffing
Types of Advisors – Advisory Networks
Excellent Resource: Taking Advice Dan Ciampa
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9. Characteristics of Effective Mentor Relationships
Mutual Trust & Shared Benefits
! Mentoring undertaken willingly, with positive attitude
! A joint venture & alliance between Mentor & founder
! Individualized vs. standardized advisory perspective
! Interactive, mutual learning for both parties
! Engaged listening & solid interaction
Jasper Welch, SCAPE EiR, Durango, CO USA
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10. Steps to launch a Mentoring
program that is Founder-focused
! Create
Founder-Focused approach & program
! Recruit
Find mentors, investors, advisors SME’s
! Train
Provide training, meeting space, support
! Track
Track the results with founders +companies
Innovation – Galloping
Goose Rail Bus
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11. Managing Your ESO Mentoring Program for…
Creating Effective Mentoring Relationships
! Clearly defined roles and
expectations for both parties.
! Excellent two-way communication.
! High levels of trust with regard for
confidentially.
! Clear planning framework with a
focus on mentees needs, goals and
objectives.
-Jasper Welch, SCAPE EiR, Durango, CO USA
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12. Formal Mentoring Program
! Formal, with agreements, milestones, feedback loops
! Upside: Matching Process, Structured, Assessments
! Downside: Less Flexible, Mentees may Resist, Admin
Staff Support (cost),
Informal Mentoring Program
! Informal: Relationship created naturally, Flexible Mtgs
! Upside: Ease of Formation & Dissolution, Less Admin
! Downside: Results not easy to measure, May not meet
Program (funding) reporting needs,
Other Types of Mentoring (delivery)
! Co-Mentoring: Mentor & Mentee focus on shared
benefits, mutual aid & learning
! E-Mentoring: Across space, time & organizational
boundaries, using online, phone, video communications
! Group Mentoring, Entrepreneur-in-Residence,
Types of Mentoring Process – Continuum of Service
Founder-Focused Mentoring – Range of ESO Advisory Services
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Entrepreneur Money Tree

13. The Mentoring Match–Options for Founder & Mentors
Matching Options-
Founder-Focused approach to connecting
Founders & Mentors together…
! Speed Matching: 5 min interview with 7
point scale & one-pager backgrounders
! Lead Mentor: Using interview &
selection process, then lead mentor
coordinates advisory process (SME’s)
! Natural Selection: High Potential
Founders find Great Mentors
! Let the Founder propose & Mentor
decide: 2-way match, with Mentor having
final decision
Innovation – Galloping Goose Rail Bus
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14. Lack of Feedback Loops?
! “Feedback is a gift” – Marshall Goldsmith
! Survey & Interview Founders for their input, ideas
! Research best & next practices in ESO mentoring
! Survey & Interview Mentors for improvements
Wrong Match, Weak Communications?
! Restructure your Mentor/Founder matching
! If Mentor match not working, change it quickly
! Reset, redesign your Mentor training program
! Manage Expectations, Two-Way Street
Limited Impact or Can’t Measure Results?
! Utilize InBIA Exchange to ask for help, ideas
! Seek out Best Practices (such as MaRS DD)
! Reset Mentoring program with measures, training
Dealing with Mentor Program Failure (s)
What if the Matches Don’t Work & Mentors Don’t Have Impact?
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15. Q&A for the
Mentoring Panel
Jasper Welch
@JasperFCMS
www.jasperwelch.org
+1 970-749-2070
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