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Executives-in-Residence Program Overview


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Overiew of the Executive-in-Residence Program

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Executives-in-Residence Program Overview

  1. 1. Purpose The Executives-in-Residence (EIRs) are the highest level of mentorship available at BC Tech. Stage 2-4 member CEOs receive a dedicated EIR (at zero cost) to guide them past pitfalls and toward business excellence; they are the sounding board that keeps the company on track. The Executives provide high level, strategic mentorship. They teach ‘how’ but then the CEO must ‘do’.
  2. 2. The Process 1. Complete the Level Set. 2. Once approved, the CEO will pitch during the intake session. 3. Each CEO will receive an email introducing them to their Executive. 4. Begin booking the Executive Sessions. 5. During each session, complete the CEO Worksheet. 6. Monthly (end), complete the Status Update. 7. Complete the Term exactly 3 months after your intake session and complete the Term Report. a. Renew for a new term (and request a new Executive) OR b. Decided not to renew for another term and “Graduate.”
  3. 3. The Process Timeline Month 1 Level Set Submitted Month 2 Month 3 Intake Session Term Complete (Renew or Graduate) 1st Tuesday of the Month 1st Tuesday of the Month Executive Sessions
  4. 4. Level Set The Level Set will determine whether the company is prepared for the program. Our Executives specialize in growth. The company must be able to implement and scale the initiatives developed during the sessions. The level set requests basic business metrics, current challenges, and desired program outcomes.
  5. 5. 5. Positioning Your Business 1. For (target customer) 2. Who (statement of need or opportunity), 3. (product name) is a (product category) 4. That (statement of key benefit) 5. Unlike (competing alternative), 6. (product name)(statement of primary differentiation). 6. Challenges 1. What is your current largest challenge? 2. What is your 2nd current largest challenge. Level Set - Questions 1. The Basics 1. Company Legal Name 2. CEO First Name 3. CEO Email 4. Do you already have a mentor(s) outside of BC Tech? 2. Product and/or Service Offerings 1. Product and/or Service #1 2. Product #1 Description 3. Product #1 URL 4. Product and/or Service #2 5. Product #2 Description 6. Product #2 URL 3. The Market 1. Total Addressable Market Size 2. Competitors 3. Target Market #1 4. Market Size #1 5. Action Plan #1 6. Target Market #2 7. Market Size #2 8. Action Plan #2 4. Vision, Purpose, Values 1. Vision 2. Purpose 3. Values
  6. 6. 7. What do you want out of the program? 1. What do you want to gain from the program? 2. Milestone #1 3. Milestone #2 9. 2017 Year-to-Date Business Metrics 1. What’s your 2017 Year-to-Date Employee count? 2. What’s your 2017 Year-to-Date Annual Revenue? 3. What’s your 2017 Year-to-Date Equity Investment? 4. What’s your 2017 Year-to-Date Non- Dilutive Investment? 5. Cashflow Positive? 6. What’s your Cash Runway? Level Set - Questions 8. 2016 Business Metrics 1. Were you active in 2016? 2. What was your Employee count at the end of 2016? 3. What was your Annual Revenue during 2016? 4. What was your Net Income during 2016? 5. What was your total Equity Investment during 2016? 6. What was your total Non-Dilutive Investment during 2016?
  7. 7. Intake Sessions Intake sessions are held on the first Tuesday of every month. Member CEOs are invited to the session once the level set has been approved. Each member is assigned a timeslot. The CEO will then privately pitch, in a roundtable format, to a selection of the Executives-in-Residence. ● 10-minute Pitch ● 5-minute Q&A ● 5-minute Private Deliberation between the Executives. *Maximum of 5 companies per monthly intake session. If a session is full, the member will attend the next session.
  8. 8. Executive Sessions Executive Sessions are one-on-one, hour long, accomplishment based meetings. They are the core of the program and where the mentorship takes place. CEO attendance is mandatory but they may bring members of their team. The CEO should enter each session with defined challenges and what they want to accomplish. Before the end of each session, the CEO will complete the CEO Worksheet. Both parties will agree on deliverables to be completed prior to the next meeting. Recommended Meeting Breakdown: ● 20 min - Action Item Update & Review ● 20 min - Current Challenge Analysis ● 20 min - Next Steps Discussion & Action Item Assignment
  9. 9. CEO Worksheet In order to determine the value the program is providing, we ask you to update us on your goals and the deliverables that will cause you to achieve these goals. BC Tech will not cover the executive’s fee for sessions missing a CEO Worksheet. Questions 1. Company Legal Name 2. What are you working on today? What’s your goal? 3. What deliverables are you going to commit to in order to achieve your goal? 4. Is your EIR going to do anything to help you achieve this goal?
  10. 10. Monthly Status Update BC Tech is required to provide basic business metrics for any company serviced through our programming. We request this data through Monthly Status Updates. All data is aggregated and anonymized for reporting. No connection to your company is allowed. Questions 1. The Basics 1. Company Legal Name 2. What month are you reporting on? 3. How are your Milestones coming along? 4. Has your EIR helped you hit any additional significant events? 5. Has your EIR provided you with any Business Introductions? 2. Business Metrics for the Month 1. Net Employees Hired 2. Monthly Revenue 3. Month-over-Month Growth Rate 4. Equity Investment 5. Non-Dilutive Investment 3. Feedback 1. Feedback on your EIR 2. Feedback on the EIR program
  11. 11. Innovation Hub Suite 101-887 Great Northern Way Vancouver, BC V5T 4T5 Canada Locations All Executive Sessions are to be held at the BC Tech Innovation Hub. If the CEO is meeting with an AR/VR/MR Executive, the meetings will take place at the the Cube. The Cube Suite 500-329 Railway St Vancouver, BC V6A 1A4 Canada
  12. 12. Remote Executive Sessions The program is built to reach the entire BC technology ecosystem. If someone is unable to geographically attend an Executive session, they may do so virtually. BC Tech uses Google Hangouts as the video calling system. It’s free, easy to use, and allows for screen sharing. For Instructions, see Appendix.
  13. 13. Term Complete Each terms begins during the intake session and ends exactly 3 months from that day. The CEO is to complete the Term Report within a week of the term completion. Each CEO will decide whether they want to renew for another term or graduate. There is no limit to how many times a member may renew. If a CEO wishes to attend another term, they will simply need to complete another Level Set; the term starts when the Level Set is submitted. ● The intake session is only to be attended once. ● An Level Set is to be completed before every term.
  14. 14. 2. Program Feedback 1. Please rate your EIR. 2. Feedback on your EIR. 3. Please rate the EIR program. 4. Feedback on the EIR program. 1. Milestone Update 1. Company Legal Name 2. What’s your current 2017 Year-to-Date Revenue? 3. Did you hit your Milestone #1? a. Why not? 4. Did you hit your Milestones #2? a. Why not? 5. Did the Milestones add the intended value? 6. Would you like to immediately begin a new term of the EIR program? Term Report - Questions
  15. 15. Expectations 1. The member will complete an Executives-in-Residence: Mentee Worksheet during every Executive session. 2. The member will complete an Executives-in-Residence: Status Report for every month while in the program, due within the first week of the following month. 3. The member will complete an Executives-in-Residence: Term Report exactly 3 months after the intake session, due within a week of the term's completion. 4. The member commits to providing BC Tech with basic business metrics for the previous and current calendar years. 5. The member commits to completing all agreed upon action items prior to each session. 6. The member commits to attending every confirmed session. 7. The member commits to be on-time for every confirmed session.
  16. 16. FAQs: 1 ● What if I’m not a good fit with my Executive? The value of the program is exemplified when there is a strong alignment between the CEO and EIR in terms of objectives and values. BC Tech’s role is to ensure we find the right fit and we can schedule a meeting to handle the issue. ● When should I book a meeting? We recommend bi-weekly to maximize your time with your EIR. 6 one hour sessions over your 3-month engagement. You should meet again based on the appropriateness due to action items. Minimum of once a month. Agreement. ● Does the CEO need to be in attendance? Yes. Whomever meets with the Executive is required to have complete knowledge to answer any question and speak to any process. ● Can I participate in the program if I am not a member of BC Tech? No. BC Tech covers the entire cost of the program. There is no option to participate if you are a non-member.
  17. 17. FAQs: 2 ● What if I don’t complete the Action Items? Please contact your Executive and explain why. rescheduled. ● Don’t adhere What happens if I am late to a meeting or do not complete a report on time? For respect to the Executive’s time, the program has a 3-strike policy. Strike examples: late to a session, failure to notify the executive of incomplete action items, late reports, etc. ● Do I have to complete the Mentee Worksheet during every meeting? Yes, BC Tech will not cover the Executive’s fee for any sessions without a Mentee Worksheet attached.
  18. 18. FAQs: 3 ● Do I have to use Google Hangouts? No. With the Executive’s agreement, you are able to use any video call system you wish. ● How do I book my Executive Sessions? After the intake session, each CEO will receive an email introducing them to their Executive Mentor. This email will also contain a booking link. ● What can I discuss during the Executive Session? Anything you wish, regarding the company.
  19. 19. Apply Now
  20. 20. Start a Hangout: 1. On your computer, open a new Chrome tab. 2. To start a Hangout using Hangouts Chrome extension: a. At the top right next to the address bar click the Hangouts extension. 3. To start a Hangout using the Hangouts Chrome app: a. In the top-left corner, click the App Launcher . Or, in the address bar, enter chrome://apps. b. Click the Hangouts app . 4. Click the person you want to start a Hangout with or click New conversation and enter Official Google Hangouts Instructions Download Hangouts on Chrome: 1. On your computer, download Hangouts on Chrome: a. Download the Hangouts Chrome extension. b. Download the Hangouts Chrome app. 2. Click Add to Chrome > Add extension or Add app 3. The extension or app will automatically open. Executive Sessions - Remote Instructions