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Mastering Mutual Mentorship

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Mastering Mutual Mentorship workshop presented to the U First accelerator on June 18, 2019.

Veröffentlicht in: Business
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Mastering Mutual Mentorship

  1. Proprietary and Confidential START UP SECRETS An insider’s guide to unfair competitive advantage Mastering the gift of mutual mentorship @underscorevc startupsecrets.com
  2. Proprietary and Confidential Mastering the gift of mutual mentorship Agenda • 5:15-5:25 - Introductions – Mentors, Mentees • 5:25-5:45 - Mutual mentorship • 5:45-6pm – Setting great objectives • 6-7pm – Breakouts on goal setting • 7-7:20pm – Group readout of objectives • 7:20-8pm – Dinner/networking
  3. Proprietary and Confidential 5
  4. Proprietary and Confidential 6 Why do we do this? ● Community-driven approach to entrepreneurship ● Support founders at the earliest stages ● Make Boston the best place to start a company
  5. Proprietary and Confidential 12 teams (over 120 applications) 20+ Mentors 30+ hours Content & workshops 2019 ● AI / ML ● Mobility / Routing ● Security ● DevOps ● Future of Intelligent Work / Collaboration
  6. Proprietary and Confidential Introductions • Name • Company – tweet description • One thing you want to learn
  7. Proprietary and Confidential Community to learn  Peers  Mentors  Core Community  Underscore team 10
  8. Proprietary and Confidential Community 11 Team Core Mentor _U Investment Associate Liaison _U Investment Team Member Allparel Amory Wakefield Julia Lily AllSpice Jon McEleney Julia John Bountium David Fragel Blaze Richard Breen Technologies Sanjeev Banerji Blaze Lily BusRight Jesse Bardo Cameron John Frase AI Anthony Habayeb Cameron Michael Entheleon Jason Burke Blaze Lily Marlo Matt Bilotti Julia Lily Posh Jeff Barnett Julia Michael Routable.ai Rob Stevens Cameron Richard TransKey Chris Wolfel Cameron Richard Wabbi Ellen Nussbaum & Phil Francisco Blaze Richard
  9. Proprietary and Confidential 12 Mentoring is a gift… startupsecrets.com@underscorevc
  10. Proprietary and Confidential  Are you seeking a handout or real help?  Do you want an answer or are you really looking to learn? 13 Do you know what help you want and how to ask for it? startupsecrets.com@underscorevc
  11. Proprietary and Confidential Think of it as a game of Chess… 15startupsecrets.com@underscorevc The MIT Sloan Review
  12. Proprietary and Confidential You can easily ask for the next move… 16startupsecrets.com@underscorevc
  13. Proprietary and Confidential But wouldn’t you rather learn how to master the game? 17startupsecrets.com@underscorevc
  14. Proprietary and Confidential Answers are for history lessons Questions are for future breakthroughs Breakthroughs present opportunities for Startups 18startupsecrets.com@underscorevc “We cannot solve our problems with the same thinking we used when we created them." Albert Einstein
  15. Proprietary and Confidential Skills
  16. Proprietary and Confidential Question the Answers! 22startupsecrets.com@underscorevc  Are they appropriate for YOU?  Tempt you to take the road already traveled  Don’t develop curiosity…  Combinatorial thinking can be much more powerful than individual answers  … and what happens when you don’t have someone there to give you answers?
  17. Proprietary and Confidential Mentees: How about asking for questions? 23startupsecrets.com@underscorevc  SERIOUSLY! • Think about it… when you were asked a really great question, did it get your mind working? • Consider asking your mentor for great questions to help you puzzle the answer for yourself… …enabling the “AHA!” moment
  18. Proprietary and Confidential Mentees: What’s stopping you from answering your own questions? 24startupsecrets.com@underscorevc  What do you need? • A new skill? • An experience? • Some knowledge?  How and where can I best get these?  Is it one-off help or is it an enduring kind of learning you need? Mentorship is often only a part of the solution Sometimes mentors are just pointers to other resources
  19. Proprietary and Confidential Mentors & Mentees 25startupsecrets.com@underscorevc So how do you find the right questions?  Could you ask the market ? • Ask the customer, user, potential market?  At least understand their view of the problem • _U First participants: engage our Core Community  Earn their trust
  20. Proprietary and Confidential Tools 26startupsecrets.com@underscorevc  Tools for guiding you to the right questions… • Field work • Surveys • Landing Pages • Prototypes (paper, web, UX) • Discovery, exploration • Research • Brainstorming • Etc… • Frameworks (my personal favorite)
  21. Proprietary and Confidential Exercise Mentors How can you help them find a way to iterate quickly and effectively? Mentees What is one thing you’d like to test? How could you test it quickly and easily?
  22. Proprietary and Confidential Startup Secret: “Don’t take advice blindly, take it mindfully” Your mind and instincts are your best resources to set a course for something that can work forYOU.
  23. Proprietary and Confidential Mentors: Develop your Mentees! 31startupsecrets.com@underscorevc  AHA!  Eureka!  &*!^#%!
  24. Proprietary and Confidential Enabling the Eureka! moment… 32startupsecrets.com@underscorevc  Mentor to Mentee test: • If I give you this answer, then what will you do with it? • What comes next? (Hint: If it only advances you one step, it's probably not a good question or answer. Remember the chess game, are you helping them master it?)
  25. Proprietary and Confidential Enabling the Eureka! moment… 33startupsecrets.com@underscorevc  Example: Question for answer: • Mentee:  Should I price this at x or y? • Mentor:  y  Question for question: • Mentee:  How should I charge for my product? • Mentor:  Where is the core value?  Who will see that and how will they value it?  How will you prove that value?
  26. Proprietary and Confidential Mentors: What are you trying to develop in your Mentee? 34startupsecrets.com@underscorevc  Mentors, if you’re not giving Mentees answers, what are you giving them? • Curiosity • Joy of learning • Confidence to try • Resourcefulness, initiative – eg EXTERNAL validation  A journey from AHA to WOW - I can do this !! • Enlightenment
  27. Proprietary and Confidential Mentors 35startupsecrets.com@underscorevc  Be open, honest and accurate wherever possible  Don’t be afraid to say you don’t know!  Always look for teaching moments  Bring humor, have fun! “To encourage and beyond!” with apologies to Buzz Lightyear
  28. Proprietary and Confidential Remember 36startupsecrets.com@underscorevc  For Startups in particular: “There is no failure, only learning” #nomorefear #onlylearning  So make it safe and leave room to fail / learn
  29. Proprietary and Confidential Startup Secret: “Things are rarely ever as good as they seem, or as bad as they seem in the moment” THE MENTOR’S ROLE IS TO PICK THE MENTEE UP WHEN THEY ARE DOWN, AND KEEP THEM FROM RISING TOO FAR UP!
  30. Proprietary and Confidential How we’ll work together  Weekly check-ins (in person or calls) • Progress against milestones • Challenges • Help needed  ”Board meetings” (3x) • Updates in advance (written) • Discussion – key strategic questions against milestones  What’s not going well?  Where do you need help? 38
  31. Proprietary and Confidential How do you know you’re a good mentor or mentee? 39startupsecrets.com@underscorevc  Is this working? • Ask for feedback!  How do you improve? • Ask for measures for success!
  32. Proprietary and Confidential Record & review regularly 40startupsecrets.com@underscorevc  Mentees - record what you learned! • Share with your mentor at your next checkpoint • How you learn is a great guide for your mentor to teach you  Mentors – figure out how to coach your specific mentee • Everyone learns differently, successes AND failures  Book: "On Managing Yourself”  Review regularly • Mutual feedback • If the relationship isn’t working… it won’t fix itself!
  33. Proprietary and Confidential Mentoring is a gift… 41startupsecrets.com@underscorevc  The question is: • Do you have it? or • Do you give it? Neither: At it’s best, giving and receiving
  34. Proprietary and Confidential 42 The importance of YOU in the equation… “Nothing is impossible, the word itself says I’m possible." - Audrey Hepburn
  35. Proprietary and Confidential Milestones
  36. Proprietary and Confidential Setting milestones for the summer Team (if applicable) What are key hires that will move the business (if any)? Or advisors? Problem Are you solving a valuable problem uniquely well? How will you define and qualify your problem? Product What do you need to build to make your product differentiated, valuable and a “need to have”? Customers & Go-to- Market How will you define and go after your target segment? Business model How to you create leverage in your business model?
  37. Proprietary and Confidential Deliverable: 3 objectives for the UFirst program (8 weeks) 45 Objective What business outcome do you want to achieve Key Results How will you know if you’ve achieved it (measurable) Initiatives What activities will get you there Who Who is responsible for delivering (1) (2) (3)
  38. Proprietary and Confidential Readout
  39. Proprietary and Confidential
  40. Proprietary and Confidential WELCOME
  41. Proprietary and Confidential Thank you! @underscorevc #startupsecrets