4 Keys to Closing Your Mentor Cycle in Style
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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