Posted by Ellie Mirman on Tue, Feb 21, 2012
With 3 mentor cycles behind us, the Founder Mentors program has connected over 80 entrepreneurs with experienced startup founders. We've heard amazing stories of part-time founders who used the support of the program to take the leap and commit full-time to their startups. We've heard other great stories of founders getting a fresh perspective, new direction, or valuable introductions that helped them take their startups to the next level.
As we get ready for our 4th mentor cycle, there are a lot of things we're excited about:
- More mentors. We've recently added folks including Chris Aronis, co-founder of Dataware Solutions, Jay Batson, co-founder of Acquia, and Bob Mason, co-founder of Brightcove. More mentors means more opportunities to match up entrepreneurs in our coming cycles!
- More entrepreneurs. Despite the growing number of startup resources - even startup mentoring programs - out there, interest in the Founder Mentors program continues to grow. We know we've hit on something that the Boston startup scene has been craving.
- More stories. We love the stories like the ones above - it shows that the time and effort from our mentors is having a big impact and helping businesses tackle real challenges they're facing. We can't wait to hear more awesome stories.
If you're interested in participating in the next mentor cycle, you can apply here. Don't forget to fill out part 2 of the application - the information survey (you'll get the link by email) - to tell us more about yourself and better match you to one of our mentors. If you're wondering what happens after you submit your application, check out this article on how the program works.
Apply to the Founder Mentors program now - the Spring 2012 cyle deadline is this Friday, February 24.
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Posted by Ellie Mirman on Fri, Jul 15, 2011
If you're new to the Founder Mentors program, or you've submitted an application and wondered what happen to it, here are the basics you need to know about how the program works.
1. Entrepreneur submits an application.
The program starts by submitting an application.
2. Entrepreneur completes the Information Survey.
A link to the survey is sent to you once you submit your application. The goal of the survey is for you to provide details about your business and your challenges - a critical step in getting matched with a mentor. Look out for deadlines to make it into the next matching cycle. If you miss a deadline, you can still submit your info survey to be included in the next cycle.
3. Founder Mentors team identifies potential matches for mentors.
We send potential entrepreneur matches to the mentors, pre-selected based on the mentor's expertise in the entrepreneur's industry and/or challenges. That's why your survey info is so important - it helps us identify a good match, and helps the mentor make an educated decision. Read more about how the matching works. This matching process occurs in cycles, with ~3 cycles per year.
4. Mentor selects one or more entrepreneurs.
The mentor chooses his/her matches for that 3-month cycle.
5. Founder Mentors team introduces the new match.
We'll do an email introduction for the mentor and entrepreneur to kick off the mentor cycle.
6. The mentorship cycle begins!
It's up to the entrepreneur to drive the mentorship cycle based on the challenge they're trying to tackle. Our team will check in along the way with tips on making more effective use of your cycle. Learn more about what the mentorship cycle looks like?
7. The mentorship cycle comes to a close.
Three months later, the mentorship cycle wraps up. Read 4 Keys to Closing Your Mentor Cycle in Style.
8. Entrepreneur provides program feedback and updates application.
This part's our selfish part, to get feedback from you about how the program's working! Really it's so that we can continue to improve the program for future cycles. We send all entrepreneurs a feedback survey (whether or not you were matched in the completed cycle - we want to hear from you!).
Then you have the option to resubmit your information survey with updated information about your business (did you expand? pivot?) or challenges (now focused on marketing rather than funding?) so we know if/how you want to be matched in the next cycle.
Have more questions about the program? Post them below or feel free to contact us at any time!
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Posted by Sean Lindsay on Fri, May 06, 2011
It's hard to believe that it's been a full four months since I wrote the introductory post What is a Mentor Cycle? In that time, we've matched an amazing 30 entrepreneurs with experienced mentors and the feedback we've heard about companies being transformed and entrepreneurial careers being shifted into high gear are really astonishing.
If all has gone according to plan you've been meeting with your mentor monthly over the last few months and received help moving your business forward, but like all good things, this first cycle is now coming to a close. However, before we set out to introduce our mentors to a whole new class of entrepreneurs, we want to give you the opportunity to close out your participation in this first cycle in style.
With that in mind, let me suggest this four tips to closing your mentor cycle in style.
- Schedule final meeting - depending on when you were matched or the progress you've made, a final meeting may be in order. If so, get that on the calendar in the coming weeks, as this cycle is coming to a close and your mentor will be matching with a new entrepreneur soon enough.
- Send follow up - whether with another meeting or just an email follow up, take the professional step to close the loop with your mentor with an update on your progress and a note of appreciation for their time. And where appropriate, don't be afraid to offer some advice on how the mentor can improve going forward (you'd be surprised how many of our mentors have asked for this kind of feedback from their entrepreneurs).
- Plan going forward - while your Founder Mentors cycle may be over, your relationship with your mentor need not be. If you've found your mentor incredibly helpful, one possible outcome is to formalize the relationship by asking your mentor to become an official advisor to your business in exchange for a little equity. They may not have the capacity to continue to help, but there's no harm in asking, if you think this person can add value going forward.
- Submit feedback - our program is still in its early stages and we're hungry for your feedback. Planning is already underway on our second cycle (more soon), but we welcome your comments and suggestions on how we can improve. First, you can always contact us with thoughts, but specifically, in the coming days keep your eyes out for an email survey to provide us some feedback on our work to date.
Lastly, I'll say it again, because I can't say it enough, thank you to everyone who applied to our program, attended our events, and shared your thoughts on how we can do better going forward. Trust me that we're listening and working hard every day to get better.
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Posted by Sean Lindsay on Thu, Jan 06, 2011
Great news, we've matched you with a mentor! Now what?
Your official relationship with your new mentor will last 3 months, we call this a "mentor cycle". During those three months you should expect to meet once per month, perhaps for lunch or coffee. Each meeting will be probably 60-90 minutes. While each mentor will have his or her own style, remember the primary goal of these meetings is to attack a specific challenge facing your business and make forward progress.
A typical meeting agenda might be something like the following:
First Meeting
15 minutes - Personal introductions and background
15 minutes - Business overview, market, customer, status
15 minutes - Discussion of a specific problem where you need help
15 minutes - Plan of action for the next meeting, follow ups and to-do’s
Second Meeting
15 minutes - General updates
30 minutes - Update on first meeting’s plan of action, progress review
15 minutes - Plan of action for the next meeting, follow ups and to-do’s
Third Meeting
15 minutes - General updates
30 minutes - Update on second meeting’s plan of action, progress review
15 minutes - Review of progress, go forward guidance
Between meetings you'll be working on the action items identified and you should ask your mentor how they feel about additional emails or a quick status call between meetings as their availability will vary.
Here are a few tips to make the most out of your cycle:
- Take the Lead - Our mentors are here to share their time and expertise, but you should take the lead in the relationship. Be the first to contact them, offer suggested meeting times, make it as easy as possible for them to accept and help.
- Be Flexible - Scheduling is hard enough when one person is trying to run a startup, in this case both you and the mentor probably have crazy schedules. Be as flexible as you can in meeting the mentor’s schedule constraints.
- Come Prepared - Your time with the mentor will be limited, so plan to make the most of it. Before the meeting reflect on your business and your primary challenge. Have the latest data on your progress at hand. Think about how your mentor can best help you.
- Be Mindful of the Time - The mentor is going out of his/her way to help you, please be respectful of their time. That means arriving on time and wrapping up on time. A punctual entrepreneur will make the mentor eager to schedule your next meeting.
- Offer to Pick Up The Tab - It’s good form for the entrepreneur to pick up the tab. I realize you may be a starving entrepreneur, but trust us, the value you’ll get out of these meetings will far exceed the cost of a sandwich or a cup of coffee.
- Establish a Two-way Relationship - Recognize that every entrepreneur has a passion for learning and our mentors are no different. While the primary goal is to move your business forward, you should assume your mentor will enjoy learning from your progress as well.
- Be Appreciative - Our mentors are offering their personal time to help you without asking anything in return other than your appreciation, so please respect their time and effort.
As you near the end of your cycle we'll also provide you with some guidance on possible next steps, so stay tuned for more.
In the meantime, engage your mentor, attack your business challenges, and let us know how the process is working for you. We'd love the feedback.
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Posted by Sean Lindsay on Mon, Jan 03, 2011
It's clear from the initial response to Founder Mentors that there is a large unmet need for mentorship in the Boston startup community and we're excited that you're giving us the opportunity to help address that need. Unfortunately the initial demand was greater than we anticipated and I suspect we're not going to be able to help everyone right away, so I figure we owe you some visibility into the process.
A few weeks ago we emailed all of our entrepreneurs asking them to complete an information survey (if you didn't receive yours, check your email, including your spam folder, it's not too late to submit) and now the matching process begins.
Based on the information provided by entrepreneurs in their information surveys, we're identifying potential matches and sending each mentor a personal list of potential matches. The mentors will then read through the submissions and select one or more entrepreneurs to match.
Once a match is identified someone from our team will make an email introduction between the mentor and entrepreneur and your mentor cycle will begin. Stay tuned for another post soon about the mentor cycle and how to make the most of it.
In the event that you're not matched with a mentor during this initial wave that doesn't mean we won't be able to help you. We're adding new mentors all the time and we will keep your application open to those mentors. And of course, as the first mentor cycles wrap up, your application will remain active for mentors as they free up. The best thing you can do is continue to work to move your startup forward and feel free to resubmit your application should your status change in a way that might improve your match-ability.
Just like our entrepreneurs' startups, we're in the early stages of our efforts and expect to learn a lot from our customers. So, consider this a "beta" release of our process and please don't hesitate to contact us with feedback.
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Posted by Ellie Mirman on Thu, Dec 09, 2010
We're excited to announce that Founder Mentors is now up and running! Founder Mentors is focused on connecting new entrepreneurs with experienced founders to help them tackle the challenges of starting and growing a new business. The program is now open and accepting applications from entrepreneurs interested in connecting with a mentor.
Our mentors are startup founders in active operational roles and offer their expertise in various categories, including product strategy, customer acquisition, management coaching, and fundraising. They are some of the most accomplished Boston area entrepreneurs, including Brian Balfour (Viximo), Jason Baptiste (PadPressed), David Cancel (Performable), Brian Chemel (Digital Lumens), David Hauser (Grasshopper Labs), Nabeel Hyatt (Conduit Labs / Zynga Boston), Matt Lauzon (Gemvara), and John Prendergast (Blueleaf) with more joining everyday.
Cancel said what he really likes about the program is "the emphasis on experienced active founders helping new founders with specific operational challenges."
Mentors and entrepreneurs are matched based on specific business challenges and meet through a structured program to provide actionable ideas and a clear timeframe to make progress.
Founder Mentors is based in the Boston area, the hub of innovation, full of experienced and new entrepreneurs. And while there are a number of entrepreneurial programs in the area, we believe there is a need for an independent mentoring program made up entirely of active founders and with the specific purpose of helping new entrepreneurs move their businesses forward.
The program was founded by Sean Lindsay, a startup founder and advisor passionate about helping fellow entrepreneurs. "Founder Mentors is a direct reaction to the increased demand I've seen from new entrepreneurs for access to active and experienced founders who can help them attack specific challenges they are facing in their startups" he said. "It seemed all that was needed to bridge the gap between that increasing demand and the many experienced founders in Boston was a little coordination and some guidelines. We're hoping to bridge that gap."
To learn more about the origination of the program, read Sean's introductory note, or to apply now, visit FounderMentors.com.
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Posted by Sean Lindsay on Tue, Dec 07, 2010
First, a confession, I'm an unabashed fan of startups and the entrepreneurs that make them go. But, let's be honest, being a founder can be lonely. It's not easy to find people who can relate to the challenges you face every day, let alone find experienced founders who are willing to help you tackle those challenges.
So, I've always tried to make myself available, to make time to meet with other entrepreneurs, listen to their struggles, and look for ways I can help. I've made introductions, analyzed business plans, reviewed pitch decks, criticized product ideas, recommended employees, and hopefully added some value.
Over the years I've met with hundreds of bright, eager men and women, with great visions and real challenges. And hopefully I've been able to help a few of them move their businesses forward.
Unfortunately, the demand from new entrepreneurs quickly outgrew the number of lunches or dinners I could take by myself. Fortunately I'm not the only one who's willing to help.
At Founder Mentors, we've pulled together dozens of experienced active founders who are willing to give their time and share their expertise, simply because they love startups and entrepreneurs too. We've put a little process around matching and provided some guidelines on how to make the most of your time with a mentor.
So, wanna meet a great mentor? Apply now!
- Sean
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