How ITEN Mentors Function

The Mentoring Process

Upon acceptance into ITEN, a mentor completes an on-line profile that lists the mentoring strengths he or she offers to a start-up company. This list of strengths provides the criteria for a search that ITEN companies do to find mentors. More than one mentor is likely to be found as a result of a particular company's search for a particular need. The mentor's bio and other comments the mentor has made about the mentor's preferences, listed on the mentor profile, help the company decide which mentor to select and begin working with.

The company selects and then initiates contact with the mentor through the Mentor Match search engine. The company can ask for help from a team of ITEN volunteers in selecting a mentor by  selecting "**Help Me Choose**" from the list of mentors offered by Mentor Match.

Once the company selects a mentor, an automatic email is sent via the website to the chosen mentor.  The mentor is then able to review the email that contains some specifics on the company's need along with the company's profile, and decide to accept the invitation to mentor or not. The mentor responds, again via the automatic email function on the site, to accept or reject the invitation to mentor.  If accepted, a mutually convenient time and place for the first meeting is established, and the mentoring process begins.

A mentor meets with a company individually to address a key challenge the company is having. If the challenge is of a nature that requires a more complex solution, a company can work with several mentors, or invite selected mentors to meet as a group.  Often a mentor is going to perceive needs of the company that the entrepreneur may not be fully cognizant of.   In such cases, the mentor's responsibility includes suggesting the company engage with ITEN mentors that have the appropriate expertise.

Mentoring is an important tool that a company can use to advance its development.  So to are ITEN's other programs, the E-Commerce and Web Business mentoring program, the Business Model Validation program, the Technology and Architecture mentoring program and the Mock Angel Training.   If appropriate to their business objectives, mentors should encourage the company to apply and participate in these programs.   Our specialized mentoring programs provide significant value to the ventures that take advantage of them.

Company Progress

We have identified the stages that a company typically progresses through.   This list can be a useful gauge for mentors:

• Concept (the company has an idea and the beginnings of a plan)
• Prototype (the company is working on their product or service and has begun interacting with prospective customers)
• Revenue (the company has launched their product or service and is generating revenue)
• Funding (the company has attracted outside funding (many not be necessary for all ventures))
• Exit  (the company is successfully being acquired by another venture or the public)
• Or.......Ceased Operations (well, that one didn't work........shall we try again?)
  

Specific Guidelines for Mentors:

• Give advice and direction as if you were the company CEO. Think, “What would I do if I were running this company, and why?”
• Mentoring is a volunteer activity, and you are not expected to do the work that a contractor or consultant would do. Often the recommendations of the mentors become the “to-do” items of the company to address before the next mentoring session. Don't hesitate to give direct advice and suggestions; that's what the start-up needs.
• Make useful connections to help the company if you feel comfortable doing so. Early stage companies can benefit from connections mentors have to other businesses, potential customers, other mentors, etc.
• We don't expect you to accept more invitations to mentor than you can handle.  We do expect you to respond to all mentor requests and either accept or give the company a reason why you choose to decline their request.
• ITEN has no prohibition against mentors becoming more deeply involved with a company, such as becoming a consultant, investor or part of the management team. ITEN is supportive of whatever can help the start-up succeed. However, if you are considering such a move, it is important that you contact the Director before you begin this new level of engagement. If the relationship changes or a conflict of interest develops, ITEN's policy is that you are no longer considered a mentor to that company. Please review ITEN's Confidentiality and Conflict of Interest Policy.
• Mentors are the backbone of ITEN, and as such your insights and opinions are extremely valuable. In fact they're necessary if ITEN is to reach its full potential. If you see ways to improve the program, please don't hesitate to give us your suggestions.

Specific Guidelines for Entrepreneurs in using mentors:

• • Be very clear with each mentor you work with as to your expectations for what you will get from the mentoring.  It's important to discuss expecatations at the outset and agree on what will be expected from both of you.
    
  • It is your responsibility to schedule meetings and take the initiative for maintaining the relationship.   Mentoring is a tool that ITEN provides to you.  It's up to you to take full advantage.  Mentors have freely volunteered their time to your venture; don't hesitate to ask for what you need.  They may not agree to what you want, but if you don't ask you definitely won't get!
    
  • If it would be worthwhile, work with more than one mentor at a time.   If you'd like to create your own mentor team or meet with them individually, it's up to you.
  • The mentors will not do the work for you.   If you need hands-on help the company, add people to your company or bring on a contractor or intern.   If you need more people in your company, post your opportunities on the ITEN website using the "Post a Job Opening" submenu item under "Start Up" on the home page.