BUSINESS MENTORSHIP

Climbing the Success Ladder By Taking

The Steps Of Those Who Have Gone
Ahead Of You

BY STEPHEN AKINTAYO
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Contents
Introduction..........................................................................................5
Chapter One..................................................................................... 15
Mentorship........................................................................................ 15
Chapter Two..................................................................................... 50
Attracting Great Mentors................................................................. 50
Chapter Three.................................................................................. 67
Choosing A Mentor.......................................................................... 67
Chapter Four..................................................................................... 81
Giving Back To Your Mentor.......................................................... 81
Chapter Five..................................................................................... 85
Startup Incubator Or........................................................................ 85
Accelerator........................................................................................ 85
Chapter Six....................................................................................... 97
Board Members/Business.............................................................. 97
Mentors.............................................................................................. 97
Chapter Seven............................................................................... 112
Building A Team Of Informal........................................................112
Mentors............................................................................................112
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Chapter Eight..................................................................................117
Investors As Mentors.................................................................... 117
Chapter Nine.................................................................................. 122
Niche Mentors Or General........................................................... 122
Mentors?......................................................................................... 122
Chapter Ten....................................................................................131
Approaching A Mentor.................................................................. 131
Chapter Eleven.............................................................................. 150
Mentoring And Coaching.............................................................. 150
Chapter Twelve.............................................................................. 154
Frequently Asked Questions........................................................154
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INTRODUCTION
Business
Mentorship
A mentor is an individual with expertise who can help develop
the career/business or life of a mentee. A mentor often has two
primary functions for the mentee. The career/life-related
function establishes the mentor as a coach who provides
advice to enhance the mentee’s professional performance and
development. The psychosocial function establishes the mentor
as a role model and support system for the mentee. Both
functions provide explicit and implicit lessons related to
professional development as well as general work–life balance.

For the purposes of this book, it is important to differentiate between

the terms protégé and mentee. The term protégé has a clear history
in mentoring research and applies to individuals who are sponsored,
promoted by someone more experienced and influential. Usually, a
protégé is chosen by their mentors and they tend to have a long-term
relationship which entails working close
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together. Whereas, a mentee is guided by a mentor, who is

more experienced. The mentee has the role of “learner” while
the mentor simply offers advice but is not obliged to sponsor or
promote them.

For instance, a mentee who needs business mentorship can have a

mentor who is a serial entrepreneur or established retailer while the
mentee themselves are building a food business. Although the fields
are different, the mentee can learn from the business acumen of the
mentor. But an upcoming hip hop artiste who is a protégé to a
popular hip hop star will tend to dress like the latter, perform
alongside them, go to events with them and even have access to
their private lives.

Research has consistently found mentored individuals to be more

satisfied and committed to their professions than non-mentored
individuals (Wanberg, Welsh, & Hezlett, 2003). Furthermore,
mentored individuals often earn higher performance evaluations,
higher salaries, and faster career progress than non-mentored
individuals. Mentors can also benefit from a successful mentoring
relationship by deriving satisfaction from helping to develop the next
generation of leaders, feeling rejuvenated in their own career
development, learning how to use new technologies, or becoming
aware of issues, methods, or perspectives that are important to their
field.
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In summary, mentorship is a relationship in which a more

experienced or more knowledgeable person helps to guide a less
experienced or less knowledgeable person

.
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ABOUT THE AUTHOR

Stephen Akintayo, is an inspirational speaker and Serial

Entrepreneur. He is the Chief Executive Officer of Stephen
Akintayo Consulting International and Gtext Media and Investment
Limited, a leading firm in Nigeria whose services span from digital
marketing, website design, bulk sms, online advertising, Media, e-
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commerce, real estate, Consulting and a host of other

services.

He was born in Gonge Area of Maiduguri, Borno State in a very

impoverished environment and with a civil Servant as a Mother
who raised him and his four other siblings with her meagre
salary since his father's Contract Business had crumbled. His
humble beginnings contributed to his philanthropic passion.

In his words; "Poverty was my surname. Hunger was my biggest

challenge as a young boy. I had to scavenge through Elementary
school to eat lunch. I didn't have lunch packs like other kids
because we couldn't afford it. Things picked up in high school.
Albeit, my mother still had to borrow money from her colleague to
keep me in school each term. It was humiliating seeing their
disdainful looks at my mum because of our constant begging. It
hurt dearly. I hate Poverty and I strive to help more families come
out of it".

Stephen Akintayo story is indeed a grass to grace one. It however

saddens his heart that his hard-working mother died few years back
due to ovarian cancer and never lived to see his successful
endeavors and how much of a blessing he is to others.
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Stephen, Also Founded GileadBalm Group Services which has

assisted a number of businesses in Nigeria to move to enviable
levels by helping them reach their clients through its enormous
nationwide data base of real phone numbers and email addresses.
It has hundreds of organizations as its clients including
multinational companies like Guaranty Trust Bank, PZ Cussons,
MTN, Chivita, among others.

He is also the Founder and President of two indigenous non-

governmental organizations, Infinity Foundation and Stephen Akintayo
Foundation. Infinity Foundation assists orphans and vulnerable
children as well as mentor young minds. The foundation has assisted
over 2,000 orphans and vulnerable children. It has also partnered with
22 orphanage homes in the country. In December 2015, Infinity
Foundation launched Mercy Orphanage to care for victims and IDP's
as a result of Boko Haram attacks in the Northern part of Nigeria.

The Stephen Akintayo Foundation gives out Financial Grants with 10

million Naira disbursed to 20 entrepreneurs during the pilot phase in
2015 and plans to grow that amount to 500 million naira annually by
2019. Other projects the foundation is involved in includes the
Upgrade Conference and The Serial Entrepreneur Conference with
thousands of attendees. The conferences are targeted at
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providing young entrepreneurs, career professionals an

opportunity to learn and connect with excellent speakers,
consultants and industry experts.

Also, the founder of Omonaija, an online radio station in Lagos

currently streaming for 24 hours daily with the capacity to reach every
country of the world. As founder and Director of Digital Marketing
School Nigeria, Africa's leading digital marketing school, he is
changing the approach to digital marketing training with a very robust
training curriculum. The school issues diploma certificates in Digital
Maketing, Tele Marketing and Neuro Marketing.

Stephen is a media personality in the Television, Radio and

Print media. He anchors a programme on Radio Continental,
tagged CEO Mentorship with Stephen Akintayo in addition to
weekly column in some of Nigeria's national papers, including
The Nation Newspaper and The Union Newspapers. He is
also a social media guru.

His mentorship platform has helped thousands of people including

graduates and undergraduates in the area of business as well as in
building relationships. Stephen strongly believes young Nigerians
with the passion for entrepreneurship can cause a business
revolution in Nigeria and the world at large. He is a prolific writer
and
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published author of several books including Turning Your

Mess To Message, Soul Mate, Survival Instincts and Mobile
Millionaire.

A member of The Institute of Strategic Management, Stephen

obtained his first degree in Microbiology from Olabisi Onabanjo
University. He is a trained Digital Marketing Consultant by the
Digital Marketing Institute at Harvard University, a trained coach
by The Coaching Academy UK and he has several other
professional trainings inside and outside Nigeria. Currently, he
is running a Masters In Digital Marketing and MBA in
Netherlands.
He is also an ordained Pastor with Living Faith Church
Worldwide and is happily married and blessed with two sons;
Divine Surprises and Future.

To invite Stephen Akintayo for a speaking engagement

kindly email: [email protected] or
call: 08180000618.
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Copyright 2016

IMPORTANT LEGAL STUFF

This book is © Mr. Stephen Akintayo. All Rights Reserved.
You may not sell this book, give it away, display it publicly,
nor may you distribute it in any form whatsoever.

While reasonable attempts have been made to ensure the accuracy of

the information provided in this publication, the author does not
assume any responsibility for errors, omissions or contrary
interpretation of this information and any damages or costs incurred
by that.

This book is not intended for use as a source of legal, business,

accounting or financial advice. All readers are advised to seek the
services of competent professionals in legal, business, accounting
and finance fields.

While examples of past results may be used occasionally in

this work, they are intended to be for purposes of example
only. No representation is made or implied that the reader will
do as well by using any of the techniques mentioned in this
book.
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The contents of this book are based solely on the personal

experiences of the author. The author does not assume any
responsibility or liability whatsoever for what you choose to do with
this information. Use your own judgment.

Any perceived slight of specific people or organizations, and any

resemblance to characters living, dead or otherwise, real or
fictitious, is purely unintentional. You are encouraged to print this
book for easy reading. However, you use this information at your
own risk.
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CHAPTER ONE
MENTORSHIP
“Mentoring is to support and encourage people to manage their own
learning in order that they may maximize their potential, develop their
skills, improve their performance and become the person they want to
be.” Eric Pasloe

In my work as a finance and business coach, I realized that there

are several helpful resources and lifelines that very few people
take advantage of. And mentorship is one of such resources. It is
such a sad reality because mentorship is one of the resources that
do not have to cost you an arm and a leg. Having a mentor can
elevate your professional capabilities exponentially.

And by the way, mentors can be amazing people. If you take the time
to develop a strong mentorship relationship, not only do you get
access to a wealth of knowledge and experience, but you might also
end up with a lifelong friend and potential future business partner. In
fact, I sometimes see no downsides to it, as you get to learn from the
strengths and weaknesses of your mentor. The roots of the
mentorship dates way back to ancient times as the
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word itself was inspired by the character of Mentor in

Homer’s Odyssey.

Mentorship
Of course, if you aren’t familiar with the concept, you may have
questions about how it all works. So, what exactly is mentorship?
Mentorship is a relationship in which a more experienced or more
knowledgeable person helps to
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guide a less experienced or less knowledgeable person. The

mentor may be older or younger than the person being
mentored, but he or she typically has a certain area of expertise.
It involves a learning and development partnership between
someone with vast experience and someone who wants to
learn.

Mentorship experience and relationship structure can significantly

affect the amount of psychosocial support, career guidance, role
modeling, and communication that occurs in the mentoring
relationships in which the protégés and mentors engaged.
The person in receipt of mentorship may be referred to as a protégé
or protégée, an apprentice or, in the 2000s, a
mentee.

“Leaders… should influence others… in such a way that it builds up,

encourages and edifies them so they can duplicate this attitude in
others”

Bob Goshen
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Mentoring which is the process of mentorship involves

communication and it is relationship-based, but its precise
definition can be a little elusive with so many different
definitions. However, I would define mentoring as a process for
increased social capital, the informal transmission of knowledge,
and the psychosocial support perceived by the recipient as
relevant to work, career, or professional development.
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Mentoring entails informal communication, usually face-to-face

and during a sustained period of time, between a person who is
perceived to have greater relevant knowledge, wisdom, or
experience (the mentor) and a person who is perceived to have
less (the protégé).

Who is a Mentor?
A mentor is a more experienced professional in your field who
offers you career guidance, advice and

“Let us do our best whilst we live for another tomorrow is coming when
whilst we are long gone, another group of people shall come to either
suffer from our worst or enjoy and build upon our best. Let us run whole
heatedly today with all alacrity for another generation shall come for the
baton from our hands to either blame us or congratulate us on how we
lived the dream and journeyed in life through the good and the bad
times; another generation shall come to ponder over our footprints as a
good or a bad lesson for them! Let us run with all necessary zeal such
that when we hand over the baton, our next generation will have no
reason but to soldier on with courage, enthusiasm and absolute
commitment to get to the finishing line with a great accomplishment
and a noble story worth pondering over and over!”

Ernest Agyemang Yeboah

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assistance from a real-world point-of-view. A mentor could

also be used to refer to someone who is experienced with
life generally and can walk you through your own journey
even if that path is not the same as theirs.
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Why Should I Bother?

Mentorship offers a host of amazing benefits. A good mentor is
wise and willing to share his or her knowledge and experiences in
order to help you succeed.

“Having a more experienced and successful counselor

guiding someone in a chosen profession is wise decision
and good career move.”

Jose A. Aviles

It is somewhat similar to having a wonderful trusted ally to go to

whenever you are feeling unsure or in need of support. They can
be extremely helpful to not only set goals but achieve them, make
smart business decisions, overcome workspace challenges.
Mentors can even help you learn new skills or simply offer an
outside perspective when you are having challenges in the
workplace. The benefits can really be endless.
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Types of Mentoring

There are two broad types of mentoring relationships: formal and

informal. Formal mentoring relationships are set up by an
administrative unit or office in a company or organization, which
solicits and recruits qualified individuals who are willing to mentor,
provides training to the mentors, and then helps to match the mentors
up with a person in need of mentoring. While formal mentoring
systems contain numerous structural and guidance elements, they
still typically allow the mentor and mentee
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to have an active role in choosing who they want to work

with.
Formal mentoring programs which simply assign mentors to mentees
without giving these individuals a say have not performed well. Even
though a mentor and a mentee may seem perfectly matched "on
paper", in practice, they may have different working or learning styles.
As such, giving the mentor and the mentee the opportunity to help
select who they want to work with is a widely used approach.
Informal mentoring occurs without the use of structured
recruitment, mentor training and matching services. Informal
mentoring arrangements can develop naturally from business
networking situations in which a more experienced individual
meets a new employee, and the two strike up a rapport.

“One of the greatest

values of mentors are the ability to see ahead what others
cannot see and to help them navigate a course to their
destination.” — John C.
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In addition to these broad types, there are also peer, situational and
supervisory mentoring relationships. These tend to fall under the
categories of formal and informal mentoring relationships. Informal
relationships develop on their own between partners. Formal
mentoring, on the
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other hand, refers to a structured process supported by the

organization and addressed to target populations.

For example, youth mentoring programs assist at-risk children or

youth who lack role models and sponsors. In business, formal
mentoring is part of talent management strategies which are used to
groom key employees, newly hired graduates, high potential-
employees and future leaders. The matching of mentor and mentee is
often done by a mentoring coordinator, often with the help of a

“The delicate balance

of mentoring someone is not creating them in your
own image, but giving them the opportunity to
create themselves.” -Steven
Spielberg
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computerized database registry. The use of the database helps to

match up mentees with mentors who have the type of experience and
qualifications they are seeking.
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There are formal mentoring programs that are values-oriented,

while social mentoring and other types focus specifically on
career development. Some mentorship programs provide both
social and vocational support. In well-designed formal
mentoring programs, there are program goals, schedules,
training (for both mentors and protégés), and evaluation.

There are many kinds of mentoring relationships from school or

community-based relationships to e-mentoring
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relationships. These mentoring relationships vary and can be

influenced by the type of mentoring relationship that is in effect. That
is whether it has come about as a formal or informal relationship. Also,
there are several models have been used to describe and examine
the sub-relationships that can emerge. For example, Buell describes
how mentoring relationships can develop under a cloning model,
nurturing model, friendship model and apprenticeship model. The
cloning model is about the mentor trying to "produce a duplicate copy
of him or herself." The nurturing model takes more of a "parent figure,
creating a safe, open environment in which mentee can both learn
and try things for him-or herself." The friendship model are more
peers "rather than being involved in a hierarchical relationship." Lastly,
the apprenticeship is about less "personal or social aspects... and the
professional relationship is the sole focus".
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“You cannot transit wisdom and insight to another person.

The seed is already there. A good teacher touches the
seed, allowing it to wake up, to sprout, and to grow.”

Thich Nhat Hanh

In the sub-groups of formal and informal mentoring relationships:

peer mentoring relationships are relationships where individuals are
at the same skill training, similar positions and stages of career.
However, one person may be more knowledgeable in a certain
aspect or another, but they can help each other to progress in their
work. A lot of time, peer relationships provide a
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lot of support, empathy and advice because the situations

are quite similar.
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Other Types of Mentoring

Situational mentoring

Short-term relationships in which a person mentors for a specific

purpose. This could be a company bringing an expert in regarding
social media, or internet safety. This expert can mentor employees
to make them more knowledgeable about a specific topic or skill.

“YOUR MOST
IMPORTANT TASK AS
A LEADER IS TO
TEACH PEOPLE HOW
TO THINK AND ASK
THE RIGHT
QUESTIONS SO THAT
THE WORLD
DOESN’T GO TO HELL
IF YOU TAKE A DAY
OFF”-JEFFREY
PFEFFER
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Supervisory Mentoring

This kind of mentoring has 'go to' people who are

supervisors. These are people who have answers to many
questions and can advise to take the best plan of action.
This can be a conflict-of-interest relationship because many
supervisors do not feel comfortable also being a mentor.

Mentoring Circles

Participants from all levels of the organization propose and own

a topic. They then meet in groups to discuss the topic, which
motivates them to grow and become more knowledgeable.
Flash mentoring is ideal for job shadowing, reverse mentoring,
and more.
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Flash mentoring

Creates a low-pressure environment for mentoring that

focuses on single meetings rather than a traditional, long-
term mentoring relationship.

Career development

Setting up a career development mentoring program for employees

enables an organization to help junior employees to learn the skills
and behaviors from senior employees that the junior employees need
to advance to higher-responsibility positions. This type of mentoring
program can help to align organizational goals with employees'
personal career goals (of progressing within the organization). It gives
employees the ability to advance professionally and learn more about
their work. This collaboration also gives employees a feeling of
engagement with the organization, which can lead to better retention
rates and increased employee satisfaction.
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High potential mentoring

The most talented employees in organizations tend to be difficult

to retain, as they are usually seeking greater challenges and
responsibilities, and they are likely to leave for a different
organization if they do not feel that they are being given the
opportunity to develop.
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Top talent, whether in an innovation or management role, have

incredible potential to make great things happen for an organization.
Creating a mentoring program for high-potential employees that gives
them one-on-one guidance from senior leaders can help to build the
engagement of these talented employees, give them the opportunity
to develop, and increase their retention in the organization.

“A mentor is someone who sees more talent and ability

within you, than you see in yourself, and helps bring it
out of you.” -Bob Proctor
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Diversity mentoring

One of the top ways to innovate is by bringing in new ideas from

senior employees and leaders from underrepresented groups (e.g.,
women, ethnic minorities, etc.). Who is an underrepresented group
depends on the industry sector and country. In many Western
countries, women and ethnic minorities are significantly
underrepresented in executive positions and boards of directors. In
some traditionally gender segregated occupations, such as education
and nursing, however, women may be the dominant gender in the
workforce.

Mentors from underrepresented groups can empower employees

from underrepresented groups to increase their confidence to take on
higher-responsibility tasks and prepare for leadership roles. By
developing employees from diverse groups, this can give the
organization access to new ideas, new ways of looking at problems,
and new perspectives. This also brings cultural awareness and
intercultural dialogue into the workplace.
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Reverse mentoring

While mentoring typically involves a more experienced, typically older

employee or leader providing guidance to a younger employee, the
opposite approach can also be used. In the 2000s, with the rise of
digital innovations, Internet applications and social media, in some
cases, new, young employees are more familiar with these
technologies than senior employees in the organizations.

The younger generations can help the older generations to expand

and grow towards current trends. Everyone has something to bring to
the table, this creates a "two-way street" within companies where
younger employees can
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see the larger picture, and senior employees can learn from
young employees.

Knowledge transfer mentoring

Employees must have a certain set of skills in order to

accomplish the tasks at hand. Mentoring is a great approach
to help employees get organized and give them access to an
expert that can give feedback, and help answer questions
that they may not know where to find answers to.

Mentorship provides critical benefits to individuals as well as

organizations. Although mentorship can be important for an
individual's career advancement, in the United States it historically
has been most apparent in relation to the advancement of women
and minorities in the workplace. Until recent decades, American
men in dominant ethnic groups gained most of the benefits of
mentorship without consciously identifying it as an advancement
strategy. American women and minorities, in contrast, more
pointedly identified and pursued mentorship in the second half of
the twentieth century as
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they sought to achieve the professional success they had

long been denied.

Techniques in Mentoring

The focus of mentoring is to develop the whole person

and so the techniques are broad and require wisdom in order to be

used appropriately. The most commonly used
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mentoring techniques in business include this five listed

below:

1. Accompanying: making a commitment in a caring

way, which involves taking part in the learning process
side-by-side with the learner.

2. Sowing: mentors are often confronted with the

difficulty of preparing the learner before he or she is
ready to change. Sowing is necessary when you know
that what you say may not be understood or even
acceptable to learners at first but will make sense and
have value to the mentee when the situation requires it.

3. Catalyzing: when change reaches a critical level of

pressure, learning can escalate. Here the mentor chooses
to plunge the learner right into change, provoking a
different way of thinking, a change in identity or a re-
ordering of values.
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4. Showing: this is making something understandable or

using your own example to demonstrate a skill or activity. You
show what you are talking about, you show by your own
behavior.
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5. Harvesting: here the mentor focuses on "picking

the ripe fruit": it is usually used to create awareness of what was
learned by experience and to draw conclusions. The key questions
here are: "What have you learned?", "How useful is it?".

Different techniques may be used by mentors according to the

situation and the mindset of the mentee, and the techniques used in
modern organizations can be found in

ancient education systems, from the Socratic technique of harvesting

to the accompaniment method of learning used in the apprenticeship
of itinerant cathedral builders during the Middle Ages. Leadership
authors Jim Kouzes and Barry Z. Posner advise mentors to look for
"teachable moments" in order to "expand or realize the potentialities
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of the people in the organizations they lead" and underline

that personal credibility is as essential to quality mentoring
as skill.

Multiple mentors
A new and upcoming trend is having multiple mentors. This can be
helpful because we can all learn from each other. Having more
than one mentor will widen the knowledge of the person being
mentored. There are different mentors who may have different
strengths.
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Profession or trade mentor

This is someone who is currently in the trade/profession you

are entering. They know the trends, important changes and
new practices that you should know to stay at the top of your
career. A mentor like this would be someone you can
discuss ideas regarding the field, and also be introduced to
key and important people that you should know.

Industry mentor

This is someone who doesn't just focus on the profession. This

mentor will be able to give insight on the industry as
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a whole. Whether it be research, development or key

changes in the industry, you need to know.

Organization mentor

Politics in the organizations are constantly changing. It is

important to be knowledgeable about the values, strategies
and products that are within your company, but also when
these things are changing. An organization mentor can
clarify missions, strategies and give clarity when needed.

Work process mentor

This mentor can speed quickly over the bumps and cut
through the unnecessary work. This mentor can explain the
'ins and outs' of projects, day to day tasks, and eliminate
unnecessary things that may be currently going on in your
work day. This mentor can help to get things done quickly
and efficiently.

Technology mentor

This is an up-and-coming, incredibly important position.

Technology has been rapidly improving and becoming more a part
of day-to-day transactions within companies. In order to perform
your best, you must know how to get things done on the newest
technology. A technology
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mentor will help with technical breakdowns, advise on systems

that may work better than what you're currently using, and coach
you through new technology and how to best use it and implement
it into your daily life.

These mentors are only examples. There can be many more

different types of mentors. Look around your workplace, your
life, and see who is an expert that you can learn something
from.

Why Seek Out a Mentor?

I attribute part of my professional growth to the guidance of a
patient mentor. He challenged me to think differently and to
open my eyes and mind to different perspectives. While each
of us develops at our own pace, it is reasonable to believe
that this type of influence is positive for all of us.

A mentor is a personal advocate for you, not so much in the

public setting, but rather in your life. Many organizations
recognize the power of effective mentoring and have
established programs to help younger professionals identify
and gain support from more experienced professional in this
format.
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What’s in it for Them?

You are probably reading all of this thinking, “I get why I
should want a mentor. But what’s in it for them?” The answer
is different for everyone.

Some mentors simply believe in the person they are helping

and want to see him or her succeed, and that alone is worth
the time and energy. Others look at mentorship as a way of
leaving a legacy- giving back to life. As a mentor, they can
pass their wisdom down to the next generation rather than
dying with it and let someone re-invent the wheel.

Some people also do it because it has the power to make a

huge difference in the industry or company where they work
and even the world at large.

When Should I Get a Mentor?

Mentors are helpful regardless of where you are in your career.
Whether you’re fresh out of college or a few years

“One of the greatest values of mentors is the ability to see

ahead what others cannot see and to help them navigate a
course to their destination”
-JOHN C. MAXWELL
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from retirement, there are always others who have “been there, done
that” from whom you can learn. So, no matter who you are, I always
say, “NOW is a great time to start.”

If or when you’re more experienced, you may want to BE a

mentor. Please do so!! It’s an incredibly fulfilling experience and
I believe that mentors learn just as much as those they assist.
But I encourage everyone to also find a mentor of your own. As
humans, we’re always learning and evolving, and even the
most experienced professional doesn’t know everything.

More than likely, the mentorship relationships of experienced

professionals will not look the same as those who are entry-level or
mid-career. You may have a mentor who is closer in age and
experience—or even someone who is your junior! As long as the
person has qualities and knowledge you can learn from, it’s perfectly
acceptable.
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CHAPTER TWO
ATTRACTING GREAT MENTORS
"Search for role models you can look up to and people who take an
interest in your career. But here's an important warning: you don't
have to have mentors who look like you. Had I been waiting for a
black, female Soviet specialist mentor, I would still be waiting. Most of
my mentors have been old white men, because they were the ones
who dominated my field." Condoleeza Rice

There are many ways to attract great mentors who will

be willing to expedite your time on the learning curve. However,
it is important to note that mentoring relationships need to be
rewarding for both parties. What this means is that the mentee
shouldn't be the sole beneficiary of the relationship. The mentor
should get some sort of value for the time and effort he is
putting into the mentoring relationship.
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Ways Mentors Help You Succeed

Mentorship is not limited to just business or general life
principles; it applies to career too. Most successful career
people will tell you that mentors made a big difference in their
careers.

Their mentorship may not always translate into breaking through

the glass ceiling, but mentors can help your work performance,
help you achieve success in a company and also help you be more
fulfilled in your work.

“We’re here for a reason. I believe a bit of the reason is to

throw little torches out to lead people through the dark.”

-Whoopi Goldberg

Here are 11 ways a mentor can help you during four general
stages of your career:
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Stage 1: Newbie
Your mentors can help you acclimatize to a new job or work
environment in the following ways, because they have run
through the ranks.

 Finding Your Way and Learning the Rules: Bonnie

Marcus, author of The Politics of Promotion, says, “The
mentor can offer advice on how to best navigate in the new
work environment and give information about the people
and politics.” A mentor within your company can help you
understand corporate expectations—both spoken and
unspoken rules. They can point out mistakes if they see
you in action. Your mentor can help you feel comfortable
operating within a new environment.

 Identify your skill set and anything missing that you

need to work on. In my second job out of business school,
a mentor suggested I attend trainings in time management
and organization, which helped me to be more effective in
my job.
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 Model That Works: Ask your mentors to share their

stories of what has worked in their careers and what hasn’t.
Learn from your mentors’ experience. Beth B. Kennedy, a
leadership coach who has taught many leaders how to begin
a
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successful mentoring relationship, shares the success of a

client whose mentor taught her “excellent delegation and
time management strategies” that led to the client’s success
and promotion.

Stage 2: Strategy
Your mentors can help you draft out a plan for building your career
and how to get there along the following lines:
 Create a Vision: A mentor can help you think through
where you want to go with your career in the long run and
how you can get there. This type of mentor can be someone
in your workplace or in your field, or more of a general
business coach, perhaps even someone you hire.
 Look for Resonance: A mentor or coach can help
you assess how well your current environment fits your
values, skills and interests. You will be happier with a job
and environment that resonates with your ability and
capability.
 Help You Define Success: Long term success is not
only about what a company or environment defines as
success, says Amy Beilharz, former corporate executive
turned serial entrepreneur and business coach. She points
out group goals, relationships and contribution to a larger
cause as
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important elements to feeling fulfilled in your career.

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Stage 3: Mobile
As you go through your career and life in general, you will
come across crossroads and points where you urgently need
to make a decision. At these points, your mentors provide
support in these forms:

 Solve Problems: You can turn to your mentors for

feedback on any projects you are undertaking or handling.
They could also offer possible solutions to problems, as
well as general strategies that have worked for them in
similar situations.
 Evaluate Job Offers: You may be offered a job
within your own department, another part of the company or
even a different company. Sometimes it’s hard to see all
the ramifications of taking a particular job—both for short-
term fit and also for its long-term strategic value, especially
when the offer comes with nice perks.

A mentor can help you see all angles and evaluate the fit.
You may stand a chance of earning better with a new offer
but not advance in your career goals and a mentor can help
you see that loop.
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Stage 4: Successful
At the end of the day, everyone wants to achieve their goals, advance
and become successful. However, success is not just magic wand that
falls in your hands. You have to walk the journey to success with its
principles as
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compass. Here are some ways mentors help you achieve

success:
 Help You Network: Marcus says mentors can
introduce mentees “to potential allies and champions.”
 Get You Noticed: Beth B. Kennedy, a leadership
coach who has taught many leaders how to achieve success
through mentoring relationship recounts a story, “A current
client of mine learned strategies from her mentor that led to
her promotion.

Her mentor taught her ways to raise her visibility in an

authentic way. Another practical example here is Bishop
Oyedepo and Sam Adeyemi in ministry. As Sam would always
say, "where I was before meeting my mentor is little compared
to where I
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am now keeping relationship with my Mentor Bishop David

Oyedepo!"
 Mentors Can Serve as Sponsors: Marcus points out

“In a battery, I strive to maximize electrical potential.

When mentoring, I strive to maximize human
potential”

-Donald Sadoway

that at the upper echelons, it’s not just about mentoring. Mentors
can help mentees get promoted and move forward in their career
by introducing and suggesting them for promotion to the right
people or organizations that have a need for their skill set. It is
easier for people to trust and want to work with you when someone
more experienced is spreading the word about you.
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 External Opportunities: Mentors in your field can help

you look beyond your company for opportunities. They may
help you decide what you are looking for, introduce you to
contacts of theirs, or even help you get into their own
organizations.

Finding A Mentor
Cultivate mentors within your company and outside of it. Kennedy
offers the possibility of someone “from a different department to
add a more systemic and strategic perspective.” Your boss can
also be a good mentor, depending on the person.

Mentorship is not rocket science and she goes further to say, “The
best mentoring relationships take place when they’re not forced
mentoring programs. A proactive way to get a mentor is to begin
the process in a more unofficial way.”
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How?
 Identify someone who has been successful in
your organization or field in a way that resonates with
you or that has certain skills and relationships you’d
like to emulate.
 Get to know them. Kennedy suggests you ask for
a brief meeting over coffee or visiting their occasions as
the case may be in Nigeria, nothing fancy. You could tell
them the reason for the meeting is just to ask a few
questions or their opinion on some projects.
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 Kennedy says, “Asses the synergy.” What does

your gut tell you about the mentor? “Does the possible
mentor have the time and energy to mentor?”
 After a few casual meetings, Kennedy says you
can then ask the person if they would be your mentor.
“Share your expectations. Some of the best mentoring
relationships my clients have shared with me are the
relationships that meet once a month and the mentee brings
questions and an agenda. The mentee needs to be proactive
and discuss their needs.” It’s also a good idea to share articles
on mentoring and “other best practices with your mentor.”
 At some point you want to evaluate the
effectiveness. Kennedy suggests an assessment six
months or a year down the road. If it’s not working,
you can thank your mentor and move on to someone
new.
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Most importantly, don’t just sit waiting for someone to offer to mentor
you. Start to think now about specific ways you want a mentor to help
you and list people who might be of help. It would look foolish to meet
a potential mentor
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and cannot state practical areas and how you need

mentoring.

You can have more than one mentor at a time, too. If you still have
no idea how it would all work, you could ask other people about
their mentoring experiences, as well. And if your company has a
mentoring program, find out how one gets chosen to participate.
Really, no one goes it alone in the corporate world. The support of
your mentors can be one of the most important determinants in
your success.
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CHAPTER THREE

CHOOSING A MENTOR
“What I think the mentor gets is the great satisfaction of
helping somebody along, helping somebody take advantage
of an opportunity that maybe he or she did not have.” — Clint
Eastwood

This is a big question and I recommend you take some time to

think it over carefully. The choice of person makes a significant
difference in the success of the relationship and, ultimately, in your
success. Look for someone you respect professionally and
someone who has a career you’d like to emulate. That doesn’t
mean you want to follow in their footsteps exactly; you’re just
looking for a person who has had success in your field (or even a
similar one) and someone who embodies the professional
characteristics you’re working to achieve.

Of course, you also need to find someone who is willing to

be a mentor, is eager to share knowledge, will be open and
honest with you, will have time to dedicate to you (though
how much is flexible) and is trustworthy. You’ll be potentially
sharing a lot of sensitive information, so this last point is
essential.

I recommend that you look for someone you like on a personal

level, not just a professional one. You should
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look forward to spending time with your mentor. The conversations

should be pleasant, engaging and inspiring.

Who Should Be My Mentor?

The word mentor is defined as both a noun (“a trusted
counselor or guide”) and a verb (“to serve as a mentor for”).
The idea of “mentorship” for most of us in veterinary
medicine defines a process that combines both applications
of the word.

At various points in our lives, we all identify and seek to learn from,
and often emulate, our mentors. They become models for the
development of proper problem solving and decision-making
techniques, the demonstration of technical skills, developing
interpersonal abilities, and
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providing personal guidance. Mentors and the idea of mentorship

has taken on increased awareness in veterinary medicine today,
particularly among new veterinary graduates and new practice
owners who are dropped suddenly into new and unfamiliar roles
and face the challenge of high expectations, information overload,
and little time to learn to become master of all tasks.

Veterinary schools, ironically, face the same challenges in

attempting to educate veterinary students. While veterinary
students graduate with sound knowledge and adequate or
higher entry level technical skills, the schools cannot be
expected to send them into their new roles as practitioners with
a complete and versed set of skills and coping abilities.
Individual graduates also enter the workplace with differing
levels of confidence and experience, thus creating great
variability in their need for mentoring.

The need for further education and training, therefore,

continues for some time following graduation; it is
significantly influenced by the willingness of experienced
veterinarians to teach and coach, and by the confidence and
willingness of the new graduate to listen and take direction.
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The stumbling block in many mentoring relationships is in

defining exactly what mentorship means to the individuals
involved. The interpretation of mentorship is largely subjective,
so the process and contents of this activity need to be defined
at its inception for it to be effective for both parties. If there is no
open communication between mentors and pupils, expectations
could be set unrealistically on both sides of the relationship, so
that frustrations will mount, performance will be affected, and,
inevitably, many of the relationships will dissolve unnecessarily.

New or recent graduates or associates with one or more areas that

they feel require further development or improved problem-solving
abilities should be encouraged
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to identify these areas openly; they should not perceive them as

weaknesses that they should hide and somehow try to correct or
improve on their own, but as areas that once developed and
refined will help the practice to achieve its goals.

It is conceivable that some new graduates, particularly those

lacking confidence, may be seeking some continuance of the
student environment, where they received reinforcement and
observation on most things they did in the hospital. Others who
are extremely independent from the beginning simply need to
know that the voice of assistance is but a phone call or yell for
help away.
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Practice owners or more seasoned veterinary mentors and coaches

should define how they propose to bring about the transition of a new
veterinarian into the practice, what they expect, in terms of feedback,
with respect to difficulties the new veterinarian is experiencing, what
the ascending levels of responsibility and challenge for new
veterinarians will be, and who individual or multiple mentors are and
when they will be accessible for
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questions, conversation, and hands-on guidance, if necessary.

Employers should also set some kind of reasonable timeline or
end date with respect to performance goals for these new
employees. While mentorship is an ongoing process, it should
taper off in its intensity and, therefore, is not an endless process.

Focus groups that I conduct annually among new graduates

always identify one of their largest frustrations as being the
scenario where a new graduate is thrust into a practice on day 1
with either an absent owner or an experienced veterinarian being
unavailable to them, or, even more frustratingly, being on site but
simply having no time.

The concept of being part of a team working towards a collective

goal is quickly lost in these settings, which is a key factor leading
towards the unnecessarily high turnover rates that the veterinary
profession has among new graduates. While formal continuing
education gatherings can always play a valuable role for
veterinarians of any experience level, the issue with newer
graduates is often simply in having someone available to reinforce
their decisions and thus help them to build confidence and
establish a sound frame of reference for the future.
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The goal of any mentorship activities should be to create an

environment that allows new associates to progress as rapidly as
possible along the learning curve and mature their practice skills.
That environment can be formalized in discussions leading to
defining the terms of employment or later in writing by creating an
employment contract with new associates.

New associates are generally pleased to have the terms of their

mentorship defined, as those requiring more intensive mentorship
feel that easing into full responsibilities and decision making provides
a temporary security net for them and sets a more comfortable level
of what is expected during the initial phase of their employment.
Wording to define mentorship in an
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employment contract can be captured by defining progressive

independent scheduling and responsibilities, defining time and/or
activities spent working directly with other veterinarians,
establishing regular times for meetings during the workweek,
scheduling a performance review or reviews at specific periods
over the duration of the contract, when the mentorship activities
can be reviewed and tapered off in their intensity as the new
associate progresses.

The issue is much the same for new practice owners, who now
have the multiple issues of running a business to deal with, in
addition to the actual practice. If a new owner or owners are inside
the practice already, hopefully much of that mentorship has
happened by observation and a sharing of the business activities.
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For purchasers coming from outside the practice, transition

with an outgoing vendor is important both for maintaining the
culture of the business and for helping to guide the new
owner(s) with respect to the management and leadership of
the practice.

How Does the Mentorship Relationship Work?

Establish specifics around your relationship in whatever way works
best for both you and your mentor. It can be a formal arrangement,
an informal one or something in the middle. No matter what, it has to
work for both of you. To get started, I recommend that you, as the
mentee,
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come up with your “ideal” relationship. Share the information with

your mentor and make sure you leave it open for discussion. Find
out how much time they are willing to invest and build a schedule
based on that.

For example, my first mentorship relationship was rather informal.

My mentor and I would meet via phone about once a month
(usually for an hour) and in between these conversations, we
would communicate via email. I would send work to him when I
needed a quick critique. He would send me links of articles to read
when he stumbled upon something I might learn from.
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When I was facing a challenge, I would check in with him for a little
guidance and reassurance that I was doing the right thing. A few
times a year, he would send me a book.
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It was an easy relationship for both of us to keep up with, but

I got tremendous benefit from it.

The key to success is simply defining the relationship from the

beginning. Make it an open dialogue. Ask for what you want
and need from your mentor, be willing to compromise, and
listen closely to make sure there is agreement. Be sure to
clarify your expectations (specifically around things like
confidentiality). You don’t want there to be any confusion.

Lastly, let your mentor know that you see this as an ongoing
process. If, at any time, the relationship isn’t working for either
one of you, the details can and should be reviewed and revised.
This doesn’t have to be stressful like a contract negotiation.
Remember, it’s supposed to be a fun, growth experience!
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CHAPTER FOUR

GIVING BACK TO YOUR MENTOR

“A lot of people put pressure on themselves and think it will
be way too hard for them to live out their dreams. Mentors
are there to say, ‘Look, it’s not that tough. It’s not as hard as
you think. Here are some guidelines and things I have gone
through to get to where I am in my career.’” — Joe Jonas

It is not uncommon for mentees to suppose that they don't have

anything to provide to their mentor. And that is not true. You
might have the financial capability to get little gifts for them but
then you also might not.

Below are a few ways you can give value back to your
mentor:

 Gratitude
At the simplest stage, mentors need to know that they are
making a distinction in your life. Or what is the point of a
mentor expending his resources- time, knowledge and
maybe research to give you tailored advice- and you are not
the better for it?
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So, let your mentor know how they've made a distinction in your
life. And don't just say the cliches "you have helped me become
better". Be particular. Tell them how a technique or advice they
gave helped you achieve something. Now, that is progress and
impact for them!

After each meeting with you, your mentors ought to take

away a feeling of accomplishment. That is the reason why

they lend an helping hand.
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 Public Mentions

Another means you can also give value to your mentors is

through public mentioning. As you and your organization
become extra profitable or more profitable than you were, talk
about them in public, on social media and even give them
referrals.

If you read books, you may discover that some authors

acknowledge their mentors and influencers by identifying and
making reference to them. They'll do that not simply within the
"acknowledgements," however within the core of the book itself.

 Being Successful
Being successful, becoming terribly profitable, in the area you
are being mentored is the ultimate way to say "thanks" to a
mentor. Mentors want to know that they made a distinction in
your life and that their contribution helped you hit your
objectives.

Mentors wish to make a distinction on this planet. If you go from

beginning a new enterprise to being a profitable entrepreneur because
of your mentors, they're going to really feel very fulfilled. They'll be
glad they mentored you. So, go the extra mile to produce results with
their lessons.
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 Add Value
Don't view your mentorship relationships as you just taking
from them. View it as a mutual relationship, the place they
need to make a distinction and you as their conduit.
Make yourself available for their programs, events or
conferences. If you can help out with the logistics of their
event, jump in and help out.
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CHAPTER FIVE

STARTUP INCUBATOR OR
ACCELERATOR

“Show me a successful individual and I’ll show you someone who

had real positive influences in his or her life. I don’t care what you
do for a living—if you do it well I’m sure there was someone
cheering you on or showing the way. A mentor.” – Denzel
Washington

One way to help get your business off the ground, is to

leverage the mentorship and investor relationship benefits of
a startup incubator or an accelerator. First of all, what is the
difference between an incubator and an accelerator?

A Startup Incubator
An incubator is physically locating your business in one central work
space with many other startup companies. In many cases, the
startups in these incubators can all be venture funded by the same
investor group. You can stay in the space as long as you need to,
until your business
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has grown to the scale it needs to relocate to its own space

or depending on the terms.
The mentorship is typically provided by proven entrepreneurial
investors, and by shared learnings of your startup CEO peers.
Examples include Lightbank and
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Sandbox Industries in Chicago. And SME HOUSE by

Stephen Akintayo in Nigeria

Startup incubators are referred to occasionally as "business

school," and that's certainly a strong focus on the best options.
Leading incubators take entrepreneurs with promising ideas, and
teach them how to run a successful startup and help to validate
the business ideas coming out of incubators. Typical benefits
might include guidance and resources, funding opportunities, and
a credibility boost from membership.

Incubators do not traditionally provide capital to startups and are

often funded by universities or economic development organizations.
They also don’t usually take an equity stake in the companies they
support but charge a fee to participate in their incubator program.
Some incubators however take equity around 12% and below.

Incubators tend to take on startups which are still in formation,

may not necessarily require investment capital and tend to be
part of the local startup community already. The timeline to
commercialization may be longer, or they are so early that
some of the basics have not been addressed yet.
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A Startup Accelerator?
There's certainly overlap between accelerators and incubators, but
the difference is in the stage of startups they accept. Sepulveda
views incubators as a tool for the "childhood" of a startup, while
accelerators can guide entrepreneurs from "adolescence to
adulthood."

Since accelerators' members already have a minimum viable

product (MVP) their resources are often focused on
operations and strategy, management coaching, and
branding.
Accelerators are generally designed to be a short-term option for
fledgling startups, with membership terms ranging from 3-6
months. Once again, the stage of your
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startup is a top factor in your decision to explore this space as

they basically jumpstart your business before kicking you out. In
fact, some people even believe joining accelerators at the wrong
stage is dangerous.

Accelerators invest a specific amount of capital in startups in

exchange for a predetermined percentage of equity. Usually, the
cash investment into your business from the accelerator itself
usually ranges between $10,000-$20,000/ N5,000,000), but your
time in the accelerator should largely improve your chances of
raising venture capital from a third-party entity affiliated to the
accelerator the program ends.

Mentorship could also come from entrepreneurs affiliated with the

accelerator (many of which are proven CEOs, or investors looking
for their next opportunity or simply helping the local startup
community). Examples include Tech Stars and Y Combinator.
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Finding co-founders and key team members can take a while,

but accelerators are not meant for that task.

Both incubators and accelerators offer an environment of

collaboration and mentorship. This enables the startups to share a
space, as well as have access to a multitude of resources and peer
feedback.

Are These Programs Right for You?

Deciding on whether or not you should pursue starting up your
business via an incubator or accelerator largely comes down to your
personal confidence in the feasibility of your business model, your
execution skills and your fund-raising skills. If you have a credible
story and your business is nicely progressing on your own, you
probably don't need
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to be part of one of these programs. But, if you need help fine

tuning your business model or revenue model, or may be a
first time CEO wanting to hone your skills from proven peers
and entrepreneurs, then this type of mentorship could be
perfect for you. When deciding which program is right for their
startup, entrepreneurs should look for the right fit. Most
startups could benefit from being in an incubator, but fewer
are a fit for an accelerator.
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The Advantages?
 Shared learnings and mentorship (helping
avoid typical startup pitfalls and speeding up your
efforts)
 Access to capital, either within an incubator or
post an accelerator
 The PR value and exposure you get from these
programs (not to be underestimated).

The Disadvantages?
 They can cause distraction, at times, with lots of
related meetings and events with mentors and
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investors (getting in the way of focusing on your own project)

 They can be confusing at times (getting 10
different opinions from 10 different mentors), so you
need a good "filter" on any advice.
 Sometimes, sharing space with other companies is
not always a plus, especially in long term incubators that
may be carrying dead weight of under-performing
companies.

On the overall, incubators could be terrific for first time CEOs,

in quickly getting them up the learning curve with the help of
mentors and investors that have "been there and done that".
Plus, your odds of raising capital are vastly improved given the
tight screening processes of these groups, that churn out
disruptive brands from the sheer number of applicants they
receive each year.

Competition is naturally fierce to get one of these coveted spots,

so make sure you have a fine-tuned pitch and leverage your
network to help pull some strings for you.
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And, if you don't get accepted into a startup accelerator or

incubator, it is not the end of the world. You could always pay
for a co-working space in an incubator, meet other start-up
founders like you while learning the little you can.
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CHAPTER SIX

BOARD MEMBERS/BUSINESS MENTORS

Mentoring brings us together - across generation, class, and often race -

in a manner that forces us to acknowledge our interdependence, to
appreciate, in Martin Luther King, Jr.'s words, that 'we are caught in an
inescapable network of mutuality, tied to a single garment of destiny.' In
this way, mentoring enables us to participate in the essential but
unfinished drama of reinventing community, while reaffirming
that there is an important role for each of us in it. Marc Freedman

I had an unfortunate and preventable misunderstanding with a young

founder whom had a great idea. I had a mentor/mentee relationship
with him. The cause of the misunderstanding, which initially was quite
heated, stemmed from an uncommunicated misalignment of
expectation. Our relationship and the business evolved from nothing
but a raw idea with some early positive feedback from its future user
group on Facebook into a full-fledged business model and extremely
well built and completely scalable MVP. I wouldn't go into details but I
realized this scenario has a lot to do with the confusion in
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the marketplace for young or first-time founders as it relates

to the distinctions, similarities and compensation norms for
three key roles that are mentor, board advisors, and board
directors.

The Mentor
They are committed and generous with advice, experience, and
assistance or introductions, but is usually informal with no formal
compensation or contract or deliverables. Most prolific and valuable
mentors don’t purposefully use their relationship as bait to hook into a
sales strategy or paid engagement with their mentees for
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consulting services. This doesn’t prevent transactional

relationships from occurring or evolving from the initial
mentor/mentee dynamic, it merely means that the intention of
the initial relationship is not transactional or with an agenda
more powerful than the one to give, help, and support the
innovator and their business to get on some level track.

To the entrepreneur a wide variety of mentors is a good asset to

acquire and often because, although you may get several
conflicting opinions on the same topics or question (i.e. mentor
whiplash), it deepens your network, allows for a great experience
in critical thinking, evaluation, and decision making, and builds
confidence in listening but also trusting your gut and living with the
outcomes.

Essentially, the value of being a mentor is to truly give back to your

fellow entrepreneurs in a spirit of pure generosity and because you
have walked in shoes they have not and can lend them insights
into the road ahead, the lifestyle, the potholes to avoid, and be a
model of resilience they can latch onto or reach out to when times
are tough and they feel alone.
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This sort of relationship is completely organic and

unpredictable. Some mentor/mentee relationships begin and
end over a 20-minute session during a startup week and
others can go off and on informally and develop into
meaningful professional and personal peer-to-peer
relationships.

In some cases, the mentor is part of a pool of mentors in some

accelerators that carve up a piece of their equity as part of their
contract and award a portion of it to the mentors in the form of bulk
portfolio or cohort warrants.
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The Board Advisor

With the board advisor, the relationship is more formal but not legally
authorized to bind the corporation. As companies move through the
lean canvas or business model design from idea to MVP they will
typically begin to formalize several things including their entity
formation, capital access strategy and issue founders stock and set
up the initial bylaws to prepare for full scale operations and initial
sales or capital raising activity.

It is at this point that certain domain experts (many of whom may

have mentored the founder or company earlier or have been
introduced by a mentor to the company because of a key need that
surfaced), become valuable and needed to advance towards an
established early milestone.
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At the same time it is also common that formalizing with legal

authority outside directors on the company’s board is pre-mature
for one or both parties. This is where the advisory role is a key
asset to attract and formalize to a specific degree with regards to
what type of help, access, time commitment, and introductions are
requested and what type of compensation (typically small portions
of equity depending on the stage of the business) is offered in
exchange.

For a highly used and fair and quick template agreement I suggest
something like the *FAST agreement template by Founders
Institute as a great starting point for companies and potential
advisors to work from and use to save time, align expectations,
and avoid confusion.
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You should consider the following professionals for your

advisory board; a legal professional, an accountant, a
marketing expert, a human resources expert and perhaps a
financial advisor. You may also want successful
entrepreneurs from other industries who understand the
basics of business and will view your operation with a fresh
eye.

And be clear about what you are trying to do when setting up an

advisory board- how else can they be of help if they don't have a
clear picture of your business? Let your prospective advisors know
what your business goals are and that you don't expect them to take
on an active
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management role or assume any liability for your company

or for the advice they offer.
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Compensation for advisory board members are more with kind,

maybe cash if you can afford it or in some few cases equity silvers,
depending on the agreement. Being on your board benefits them
in a variety of tangible and intangible ways like exposing them to
ideas and perspectives they may have otherwise missed. It will
also expand their own networks, which can offer a wide range of
advantages.

Back to my story, here is the lessons learned. The founder (who

was my mentee) received printed and digital docs of the FAST
agreement and we discussed needing to customize it and agree
on where in the bucket my expertise fell regarding reasonable
equity grant to continue, BUT what I never knew until after the
blowup is despite nodding and agreeing to finalize and discuss,
the founder never actually even read the 4 pages to have any idea
of what the FAST agreement actually was. And that was the
genesis of the disagreement. I assumed that the multiple touch
points and discussions had us operating from a clear sense of the
terms and language and matrices within it and that we were just
looking for the time to sit down and nail down the final language
and amounts to execute.
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Please, DON’T assume or promote someone on your slide

deck as such if you are the founder until you have sat down
to talk over an agreement, gone through why this evolution
of the relationship makes sense, what the scope of work,
perceived value and equity grant and any vesting schedule
will be.

The value of a board advisor can be tremendous as you move

your business to a more formal and operational entity. It can round
out holes in the founding team from

“You know, you do need mentors, but in the end,

you really just need to believe in yourself”
-Diana Ross
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both experienced and technical expertise as well as help ‘recruit’ key

resources, players, and potential capital providers to conversations
around your opportunity. All of this and more while at the same time
keeping your legal governance close to the vest until the time for
establishing true CEO compensation and term sheet evaluation or
shareholder value metrics and management oversight comes.

Board of Advisors are more flexible and less time consuming than
board of directors and can be fluid in its duration where it exists
ongoing in parallel to the Board of Directors for specific outside value
or as a stair step to a formal board run company.

The Board Director

The relationship of a board director is that of a formal officer of the
corporation with binding and fiduciary responsibility to the
shareholders of the company and the ability to hire/fire the CEO of
the company and approve or deny major capital raises, acquisitions
and key hires.

When scouting or trying to choose board members, it is important to

select independent person who do not have a vested interest in the
company i.e. those that are not exactly affiliated. So, instead of
selecting a shareholder or an existing investor, select neutral persons
who will do their best to make your business better rather than act
based on what they stand to gain.
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As your company moves into commercialization the value of an both

an advisory board and inside board of directors formalizes many of
the necessary management processes by which you will build
enterprise value, establish and measure governance and
performance for the investors. It also serves as an important way to
establish and speed up the relationships and key account activity or
capital raising efforts as you select board members who have deep
and credible relationships that become available to the company
more formally as your move ahead.
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A formal board of directors (remember you as the CEO and founder,

the co-founder/COO are executive directors and will be part of the
board when you institute a board of directors) is typically not needed
at the early stage in
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private companies but becomes necessary as you seek bigger

funding and become a bigger enterprise. Compensation for board of
directors depends on the stage of the company and company legal
agreements but it usually is in several forms that typically combine
equity with vesting schedules and cash or reimbursements for
reasonable related expenses and time.

Ultimately, relationships are made up of millions of points of

communication in verbal, written, and subject to the interpretation
and filter of each listener. The entrepreneurial journey of taking
nothing into something and something into something BIG
requires a constant evolution and lots of inputs and people.
Hopefully this will allow for a better discussion and clarity between
those helping and those needing help, so that frustration and or
disappointment can be mitigated more frequently
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CHAPTER SEVEN

BUILDING A TEAM OF INFORMAL

MENTORS
“A lot of people put pressure on themselves and think it will be way too
hard for them to live out their dreams. Mentors are there to say, ‘Look,
it’s not that tough. It’s not as hard as you think. Here are some guidelines
and things I have gone through to get to where I am in my career.’” —
Joe Jonas

Mentorship relationships don’t always have to be formal

relationships. Sometimes they can be as simple as “if I have
a question, can I send you an email?” relationships. And
these are great as well. While individually these relationships
might not change your life drastically, having many of these
kinds of mentors can make a big difference. So how can you
increase this network of informal mentors?
Here are a few different ways to do it:

 If you run a business, talk to your lawyer and your

accountant. Hire the best lawyers you can, even if you don’t
need their legal services yet. Why? And if your company can't
afford their services yet, you can talk to the lawyer or
accountant you consult with. Do it for the network. The best
lawyers also
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have high level clients. Have them do the introductions for

you.

 Another way you can make contact with

successful individuals is through social networking.
Many CEOs today run their own Twitter feeds.
Retweeting their messages and @replying to them
can help build a relationship so you can eventually
drop them an email or ask for their emails.
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 When the opportunities arise, attend conferences and

trade shows. Meet influencers in person, build a connection
and ask them to consider mentoring you – asking someone
face to face makes a person stop and think about the request.
For many it is a flattering request, especially when the request
is asked by someone who is genuine and likeable.

The Authenticity Key

The key to making a great impression on a potential mentor is through
authenticity. You have to be real and genuine. Imagine for a moment
what the world is like from the eyes of the influential- a lot of people
want your attention, but the vast majority of them want your attention
so they can get something from you, or say they were with you or
some often have an ulterior motive. And this is why successful people
put up walls of resistance. The best way around these walls is to be
genuine and authentic.
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If you’re nervous about meeting them, say so. If you’re building a

business and want their help, be upfront about it. If you really have no
idea and are trying to figure things out, let them know. Don’t pretend to
be their friend with an ulterior motive; be 100% honest from the get-go
or act like you are dope and it will be an honor for them to be involved
with you. Actually, it is the other way round.

Asking for Informal Mentorship

Don’t go overboard with your requests. Your requests for
mentorship should be relatively straightforward and shouldn’t
require much of a commitment from your mentor.

Ask them if you can send them an email if you ever have a
question on a specific topic. You can also ask if you could do
a quick phone call with them. Find out your potential mentor’s
preferred mode of communication. And honor it.

Repeat this process again and again and you’ll gradually

amass quite a number of successful people in different
arenas that you can contact if you ever get stuck in your
business.
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CHAPTER EIGHT

INVESTORS AS MENTORS
“A mentor is someone who sees more talent and ability within you,
than you see in yourself, and helps bring it out of you." Bob Proctor

It could be so interesting and relaxing when you have an

investor who can mentor you. What a great combo! That
would mean he understands your business, your personality
and is not just leaving you to go and get massive returns on
his investment even if you are a newbie entrepreneur.

Warren Buffett started his investment road trip with a top tour guide!
Imagine Warren Buffett as your investment quarterback, or Bill
Gates, Mark Zuckerberg or even my humble self with the wealth of
experience and results I have to show as your internet business
mentors? Goals smashing, right? Yeah. That's what having a
mentor is like! But, let's be candid here.

You probably will never get access to such high worth individual
especially if you are still learning the ropes and will take way longer
to find an investor and mentor in one person. There is a hack here
though; invest in their books and get a return on your investment
as progress.
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If you don’t know the first thing about the stock market and how
it works, be kind to yourself. Even Warren Buffett had to start
somewhere. And if you’re up for trying a book he loves, read
“The Intelligent Investor” by Benjamin Graham. First published
in 1949, Buffett calls it “the best book on investment ever
written.” Spend a little to buy it and many other internet
investments related books to become a billionaire. How’s that
for a return on investment?
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And if you need capital as much as you need investment, you can look
for someone who offers a complementary business to what your
business is involved in. And approach them to mentor you and give
you capital to work hand in hand with their company since your
services or products are complementary.

For instance, if you want to start a Laundromat business, you can look
for a cleaning production company and tell them to give you capital in
the form of cleaning supplies to use for your business while you start
paying 6 months- 1 year down the road when your business can stand
on its own. You can also collect washing machines from 2-3 of your
mentors and offer to do the laundry for their household free. You just
have to be creative, be willing to work and think outside the box and
you are sure to find good mentors.
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CHAPTER NINE

NICHE MENTORS OR GENERAL

MENTORS?
“We all carry the seeds of greatness within us, but we need an
image as a point of focus in order that they may sprout.”~ Epictetus

When most entrepreneurs search for mentors, they have a

tendency to search for generic "enterprise mentors." People who
will help inform them on their path to success. This is great
because their business acumen can guide you on the principles of
business in terms of cash flow, structure, operations and other
essentials.

However, entrepreneurs usually overlook to search for a

niche mentor in addition to general enterprise/business
mentors. Often instances searching for area of interest
mentors is best than looking for a common enterprise mentor.

What is a "Niche Mentor?

A niche mentor can also be called an area of interest mentor
and is somebody who is aware of only one particular space of
what you are promoting very, very effectively. For instance, if
you are setting up a retail
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ecommerce web site, a general mentor (maybe in retail) can tell

you of retail operations, cash flow, inventory management and the
likes. That mentor will however not be able to tell you of drop
shipping techniques, affiliate marketing, search engine marketing,
which are ways to promote your site to get increased traffic, simply
because your terrains are different.
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They can't even tell you what your employee qualities should
look like, necessary skills to garner to stay afloat, preventing
online fraud and what have you.

Having a niche mentor may not fully apply to all enterprise as some
businesses can get by with just the general business knowledge
especially if you already possess the core skill that the business
largely depends on. But if you are going into an irregular business,
it would be best to look for mentors in that business.
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By and large, you need to figure out the areas you need
mentoring by breaking down what you are trying to do or
achieve by all of the completely different areas of experience
wanted. To proceed with your e-commerce business for
instance, the breakdown would possibly look one thing like
this:
 Generating site visitors
 Running net software programs
 Finding wholesalers and distributors
 Ability to convert traffic into buyers

You could possibly search for mentors in every of those particular

areas or for mentors in the e-commerce. It could be a little tricky
trying to find mentors in that field as some may feel you are
competitors. Some areas, like discovering wholesale traders, could
be addressed by any mentor. Other areas, like discovering
wholesalers from China to get cheaper deals, running technical
programs, for instance, are addressed by specialists.

In some cases, you only get to meet with your mentor once a
month or fortnightly which means you don't exactly have so much
time with them. They also may not be able to reply your messages
as urgently as you might want them to which is because they are
busy too. Don’t
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overlook employees who are skilled; they could be your

mentors.

As Michael Dell says, your core group of workers ought to at all times
be smarter than you. You should not be pulling your workers to the
following stage; as an alternative they need to be pulling you. They
should be on top of their game! You are the one with the vision but
the vision needs so many skills which you might not necessarily
possess. And it is fine. But your employees should be extremely good
at the varied departments your
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company involves. Micromanaging people will kill you, leave

you with less room to think, shape the idea and move your
company to the next level.
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CHAPTER TEN

APPROACHING A MENTOR
"What you want in a mentor is someone who truly cares for you
and who will look after your interests and not just their own. When
you do come across the right person to mentor you, start by
showing them that the time they spend with you is worthwhile."
Vivek Wadhwa

Most people approach potential mentors in a completely

wrong way. As a result, they find it extra challenging and
difficult getting mentors to help them out. Stop approaching
mentors with questions like “can we grab coffee sometime?”,
“will you mentor me?”, “I’d really like to pick your brain”.
Those questions put potential mentors off.

Always remember when approaching mentors that they’re also

trying to get to the next level themselves. Sure, they might have a
$10 million dollar company but they’re also surrounded by people
with $200 million dollar companies. They’re trying to get their
company to the next level as well as improve on themselves as
well. There are a few things to keep in mind to set you apart from
other people seeking their attention.
 Help them get to the next level.
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If you help your mentors get to the next level, they’ll naturally also
want to help you get to the next level. If they are or their company get
nominated for an award which requires voting, you could rally round
votes for them. They might have a campaign and you could help them
make more noise around it. Give value, get your hands dirty.
Guidelines for Approaching Mentors
 Do a self-Assessment and preparation of your CV

or biography sheet before meeting your mentor

 Preparation (become informed)
 Get an evaluation form that you can use to track
what you are learning, actions you carried out and
results
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 Know their specific career path so that you don't

start asking unrelated questions
 Ask questions relating to your current situation
and future goals not questions like "how do you
balance work-life?"

Other Tips for Approaching a Mentor

1. Do your homework on yourself
Be clear on what you want. Are you asking for in-depth career
help, simple advice, or for some innovative ideas? After asking
yourself these questions, it’s OK to realize that perhaps part of
what you need from a mentor is clarity on your next steps.
Getting clear about what you need—or at least understanding
that you have no idea what you need—will help you frame
your request for help.

2. Do your homework on the field

Take your time before you take their time. What information can
you mine on the web about the sector you hope to enter, or the
job you hope to obtain?

3. Do your homework on your potential mentor

Visit their website, if they have one, look at their LinkedIn profile
and read any materials they may have published.
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Get to know the person whose help you want before

approaching them.

Sometimes ago, a chartered accountant, decided he wanted to

become a business coach, he spent weeks researching the market
before approaching me to ask for mentoring. During our meeting,
he shared his analysis of a few ways he could enter the market
and asked me for ideas of how else he could start to engage
clients. He had studied my client list and came armed with specific
questions. Because he did all three parts of his homework, I was
more motivated to help him. He made efficient use of our time
together and walked away with specific tips, action items, and
contacts.
Make sure to follow these three guidelines when you “make
the ask.”

4. Value their time

The easiest way to show that you value your potential
mentor’s time is to approach them via a succinct email. Most
people will immediately deal with emails that require less than
a minute to process and ignore more complicated messages.
Here’s an example of a well-executed “ask” email:

Subject: 15 mins of your time - your expertise in healthcare

Dear Mentor,
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In 10 years, I aspire to be where you are in your career today:

coaching executives and working with leadership teams in
the healthcare sector. Based on the testimonials on your
website, your methodology has clearly made a big impact.

I’d appreciate your help to understand how you entered the

healthcare market so I might begin a similar career path.
One of my friends really admires your skills and suggested I get in
touch with you. Your insights will add something I can’t glean from the
research I’ve done on this sector.

I know your time is precious, so I’d like to limit my request to

15 minutes of your time at your convenience. I promise to
keep our conversation brief, as I’ve already done homework
on the field and your work. Also, if there’s anything I can do
to help return the favor, please let me know.
Thanks in advance,
Mentee

5. Be accommodating
When asking someone for help, make it easy for them to help you!
Remember, you are asking for a favor, so you
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need to accommodate their schedule and make it easy for

them to say yes.

For instance, someone asked me for help on how to become a coach.

At that time, I was immersed in day-long training sessions, business
meetings on Saturdays and offered to speak to her on Sunday. She
replied: “Sundays are used for my religious activities and my family, so
can you talk during the week?” While I admired her for setting a clear
boundary around family and religion time, I wasn’t able to
accommodate her request. She wanted my help but was inflexible
about when to receive it.

6. Keep it short
People who ask for 15 minutes of someone’s time are more
likely to get on that person’s calendar than those who ask for
an hour. This is also an indication you respect the mentor’s
time.

7. State what you want up front

Rapport building is important, but don’t spend the first 20 minutes on
small talk like you are buddies. Tell them up front what you’d like.
Skipping the small talk may feel uncomfortable but starting with a
polite introduction and then jumping into business is the best way to
stay on track.
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8. Ask what you can do for the mentor

Most mentors choose to help people purely to give back, but it never
hurts to ask what favors you can provide in return for their help. When
people ask what they can do for me, I ask them to comment on or
share my articles. The few people who follow through on this request
stand out and I feel more inclined to give them more of my time.

9. Thank your mentor

This may seem like a no-brainer, but about a quarter of the people I
mentor never send follow-up thank you emails. Again, most mentors
don’t help others to be thanked, but common courtesy helps. Besides,
a thank you email offers another communication touchpoint with your
mentor. Emails are an integral part of building a lasting, mutually-
beneficial relationship; remember to send regular emails telling your
mentor how her advice has helped you.

10. Make Sure You're Asking the Right Person

Choosing the right person as a mentor is probably the biggest factor to
whether they'll accept your request. Most people want mentors who
exemplify their vision of success—business leaders, entrepreneurs,
recognizable names—it's easy to want to have a famous businessperson,
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developer, or activist as your personal mentor. Odds are though,

those people are already busy or unavailable, and while it never hurts
to ask, the odds are heavily against you. Remember, your mentor
doesn't have to be a household name to be a good one—anyone
whose experience and wisdom you can learn from would make a
great mentor.

*When you're looking for someone to be your mentor, look for

people who have the title, position, or experience you're trying to
get. Don't set your sights too far off into the future. Think about
your next few career goals and look for people who match,
preferably people you know personally or could easily meet. If your
company has a mentorship program, start there. Participants are
looking for people to mentor, so you'll have an easier time finding
someone willing to take you under their wing. If not, consider a
manager in your own department, or another department in your
company that you work closely with. Ask a friend or someone in
your professional network to connect you with someone in their
company who's willing to take on a mentor and has the position
you're looking for.

*Whoever you choose, pick someone you can get some personal
contact with, or can easily meet and talk to face to face. It may
seem like a good idea to aim high and ask
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someone you've never met (but whose work you're familiar with) to be
your mentor, but you'll have better luck asking someone with whom
you already have a personal connection. A far off face on the Internet
may be able to trade emails with you from time to time, but they likely
won't be able to pay individual, regular attention to you. Someone
who's personally invested in your success and can check in with you
regularly when you need advice—or when you have a question—is a
much better pick.

11. Ask The Right Way

When you do ask someone to be your mentor, keep in mind that
you're asking them for a favor—one that will likely require a good
bit of energy on their part. You're not paying them for their time,
and they don't owe you anything. If they're part of a mentoring
program or have been a mentor in the past, they likely know this
already, but even so, approach the question with the appropriate
care, empathy, and lack of self-entitlement. The fastest way to get
the old "Sorry, I don't have time right now" response is to
overconfidently demand your prospective mentor's time and
attention.

12. Come to the table with how much time and

attention you think you'll need.
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Don't make them guess how much of a time sink you'll be. Let
them know up front how much time and attention you really
think your mentor/mentee relationship will demand. Remember,
your prospective mentor is likely busy with their own projects.

13. Be ready to explain what you want to get out of the

mentorship, why you want the person you're asking to be your
mentor, and why you want a mentor in the first place. You don't
have to stroke the other person's ego, but you should explain that
you know who they are and you value their expertise. Let them
know that their career mirrors your would-be career path, and you
think you could learn a lot from them. If you can, share a story they
would resonate with—or a story of theirs you already know and
what you learned from it.

14. Make your case based on common experiences

and interests.
Remember, getting a mentor to work with you is less of a job
interview and more of a friend request. If you feel like their angle
is "well, what do I get out of this," you may want to back off, but
do let them know that you feel like you may be able to learn
from each other if they'll give you a chance. If you do have
common interests or hobbies, play that up too.
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15. Explain you're looking for advice and guidance,

not a tutor.
Your mentor shouldn't do your work for you, and they should
know from the outset that you're looking to learn from their
experience—not have them essentially be the parent you ask
for help every time you're stuck with your homework.

16. If your question seems to make your

prospective mentor uncomfortable, back off.
Mentors, like references, should be 100% dedicated to the task
of helping you out. If you get the vibe that they feel pressured or
don't really want to be in the position you're putting them in, let
them out—if you force them into it, you won't get the best
possible experience anyway, and worse, you may be imposing.

17. Know When to Follow Up (and When Not To

Like we mentioned earlier, your mentor should be engaged—not just
with the idea of mentoring, but with mentoring you specifically. If you
ask them to be your mentor and then offer to follow up later, follow up
to see how they're feeling about it. if they waffle, or they give you
anything less than a confident answer, then let it go and look for
someone else. You're not going to get the best
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time and attention from someone who's going to be annoyed

every time you ask them out for coffee, or who felt pressured
into being your mentor. If you ever start to get that vibe from
your mentor, it's time to let them off the hook, thank them for
everything they've taught you up to that point, and offer to stay
in touch.

If they're amenable to the idea, it's time to seal the deal and give
them an idea of how often you'll connect with them and when you'll
get in touch. They may take the lead, but don't expect them to. You
can take a load off of their plate by mapping out when you should
talk and how you'll be in touch, especially if you just need advice
from time to time. Whatever you agree to, make sure you follow up,
meet when you say you're going to, and drop them a line from time
to time just to check in. If there's ever a doubt, take the initiative.
Remember, you're there to learn and soak up as much as possible
from them. Don't make them work just to get a hold of you.

18. Keep Your Relationship Strong, and Pay It Forward

Once you've landed a great mentor, do what it takes to keep that
relationship strong. Not only do you have someone you can learn from,
but you'll have someone valuable in your professional network who
can help you when the chips are down, or you can offer a hand to
when
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you have something to offer. When they give you advice,

make sure you take it, and when you're not sure what you
should talk about, ask them what you should be asking them.

Mentoring happens every day in the business world. Sometimes,

you’re lucky enough to get unbidden mentoring. But, mostly, you
have to ask to receive. When asking a potential mentor for help,
approaching that person with intention, intelligence and
gratitude makes all the difference between a ‘no’ and a ‘yes’.
The more you can make a complete case for what you're
looking for, why you chose them, and how much of an
investment you represent, the easier it'll be for your potential
mentor to say yes.
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What Not to Do?

1. Asking for the Mentor Upfront
Would you ask someone to be your spouse on the first date? Not
likely. Being so abrupt is a bad idea on a first date, and you should
treat your first encounter with a mentor the same way. There isn't
enough time or information in one meeting to predict if a
mentorship bond exists between you. Your best bet is to ask for
the meeting; not the mentorship. Most people will grant you a 15-
minute conversation to answer any specific questions. Here's a
line that always works: "I enjoyed our conversation. Should a
specific question arise, would it be okay if I reached out for a 15-
minute chat to continue the conversation?"

2. Not Establishing Rules for Following Up

You get one chance to make an impression on a potential
mentor. Use this time to set up an agreement for your next
encounter.
I usually say, 'I'm going to send you an update email in three
weeks after I work on the strategy we talked about.'" They
could, of course, say “no thanks,”. But usually, when you set
expectations upfront, if you send a message, they will refer
back to the email chain and honor the request.
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3. Chasing Names Over Relevant Experience

A participant in my mentoring workshop was adamant she could
never find her ideal mentor. So, I started by asking her what she
wanted to do. She told me that she wanted to start local food
business. "And who is your ideal mentor?" I asked. "The CEO of
Mr. Biggs." She had, like so many, made the mistake of chasing a
name over experience. The CEO of Mr. Biggs has no idea how to
help her; he hasn't opened a small food shop in years. A more
relevant mentor is the restaurant owner one town over, who
opened a shop two years ago. Make sure you can explain to your
mentor-to-be how their experience relates to what you want to do.
4. Replying "None of Those Times Work"
David Simnick, the founder of Soapbox, a socially conscious soap
company with explosive growth, gets approached to be a mentor
quite often. His pet peeve is an inflexible mentee. "When you are
reaching out to someone with experience and knowledge, who
can save you years of mistake and heartache, the most insulting
thing you can do is care about your own calendar. Please don't
reply 'none of those times work,'" he says. "You are reaching out
to me and, as a courtesy, should demonstrate an effort to work
around my schedule."

5. Asking Questions You Can Easily Google

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What do you think would happen if you asked Larry Page,

the founder of Google, how to start a flower business in
college? He would probably tell you to Google it, and with
good reason: At this level, he is more likely engaged by
questions about the future of cloud computing and Google’s
telecom play— questions he is uniquely qualified to answer.
6. Making It All About You
The idea that some Dumbledore-like mentor will imbue a young
Harry Potter with all the knowledge he needs to succeed is
untrue. The truth is, in today's noisy competition for mentors,
two-way relationships are the most likely to succeed. One of
the mentors who attended my trainings gushed at how much
value she got from her mentee, telling us: "What I loved most
about Simone is that she always asked me how she could help
me, volunteered to help at nonprofit events, and even played
the role of my confidant from time-to-time. These experiences
and her willingness to give deepened our relationship
immensely."

7. Not Expressing Gratitude

Never underestimate the power of gratitude in a mentor
relationship. Updated emails tracking your progress and
expressing genuine appreciation for your mentors' help goes
a long way.
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Functions/Roles of Mentors
The following are among the mentor’s functions:
 Teaches the mentee about a specific issue
 Coaches the mentee on a particular skill
 Facilitates the mentee’s growth by sharing
resources and networks
 Challenges the mentee to move beyond his or
her comfort zone
 Creates a safe learning environment for taking
risks
 Focuses on the mentee’s total development
 A mentor takes a long-range view on your
growth and development.
 A mentor helps you see the destination but does
not give you the detailed map to get there.
 A mentor offers encouragement and
cheerleading, but not "how to" advice.

What a Mentor Does Not Do for You:

 A mentor is not a coach as explained above.
 A mentor is typically not an advocate of yours
in the organizational environment: the relationship is
private.
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 A mentor is not going to tell you how to do things.

 A mentor is not there to support you on
transactional, short-term problems.
 A mentor is not a counselor.

Ideas to Help You Succeed With a Mentor:

Understanding the role of the mentor is a critical starting
point for success in this relationship. Additional requirements
include:
1. Investing your time in seeking out the mentor.
2. Sharing your goals and fears openly.
3. Not expecting the mentor to solve your short-term
problems or do the work for you.
4. Not expecting specific advice.
5. Sharing where you are struggling or failing.
6. Listening carefully and then researching and applying
the mentor's guidance.
7. Showing that you value the mentor's support.
8. Not abusing the relationship by expecting political
support in the organization.
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CHAPTER ELEVEN

MENTORING AND COACHING

“One who refuses to seek the advice of others will eventually be led
to a path of ruin. A mentor helps you to perceive your own
weaknesses and confront them with courage. The bond between
mentor and protege enables us to stay true to our chosen path until
the very end.”

A lot of people confuse mentoring with coaching and vice-versa. We

have seen the definition of mentoring above and what the mentoring
relationship entails. Now, are
mentoring and coaching identical twins? No.

The terms mentoring and coaching are often used

interchangeably, and that is misleading. While similar in their
support of someone's development, they are very different
disciplines in practice.

Mentoring is a long-term relationship where the focus is on supporting

the growth and development of the mentee. The mentor is a source
of wisdom, teaching, and support, but not someone who observes
and advises on specific actions or behavioral changes in daily work.
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Coaching is typically a relationship of finite duration where

the focus is on strengthening or eliminating specific
behaviors in the here and now.

Coaches are engaged to help professionals correct

behaviors that detract from their performance or, to
strengthen those that support stronger performance around
a set of activities.

Both mentoring and coaching are incredibly valuable in

providing developmental support.
However, one offers high-level guidance for the long-term
development, and the other helps you improve immediately.

“More than mere teachers, mentors are often emancipators,

freeing artists from poor technique, clouded vision and personal
uncertainty.” -Paul Soderberg

Though related, they are not the same. A mentor may coach,
but a coach is not a mentor. Mentoring is “relational,” while
coaching is “functional.” There are other significant differences.
And I have highlighted some of the different characteristics
across the two.
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Coaching Characteristics
 Managers coach all of their staff as a required
part of the job
 Coaching takes place within the confines of a
formal manager-employee relationship
 Focuses on developing individuals within their
current jobs
 Interest is functional, arising out of the need to
ensure that individuals can perform the tasks required
to the best of their abilities
 Relationship tends to be initiated and driven by
an individual’s manager
 Relationship is finite - ends as individual
transfers to another job

Mentoring Characteristics
 Takes place outside of a line manager-
employee relationship, at the mutual consent of a
mentor and the person being mentored
 Is career-focused or focuses on professional
development that may be outside a mentor’s area of
work
 Relationship is personal - a mentor provides
both professional and personal support
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Relationship may be initiated by a mentor or created

through a match initiated by the organization
 Relationship crosses job boundaries
 Relationship may last for a specific period of time
(nine months to a year) in a formal program, at which
point the pair may continue in an informal mentoring
relationship
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CHAPTER TWELVE

FREQUENTLY ASKED QUESTIONS

“No man is capable of self-iprovement if he sees no other
model but himself.” -Conrado I. Generoso
Are buddy systems and mentoring programs the same?
No. Buddy systems are initiated by organizations to help new
employees adjust to jobs during their first few months of
employment.
Buddies are most often peers in the same department, who assist
new employees for short periods of time and require no
specialized training as a buddy.

Mentoring is a more complex relationship and focuses on both

short- and long-term professional development goals. Though a
mentor may be an employee’s peer, most often a mentor is a
person at least one level higher in the organization who is not
within the mentee’s direct supervisory line of management.
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“If your mentors

only that you are
awesome, it’s time to
find other mentors.”-
Cosette Gutierrez

Organizations formal mentoring programs?

Interest in mentoring has varied over time and has been
affected by economic and social factors.
Organizations recognize that workforce demographics have
changed dramatically in recent years, as women and members
of different minority groups have joined the workforce in greater
numbers.

In addition, technology has automated traditional employee

functions and continues to affect on-the-job performance,
altering the way people see themselves within the corporate
structure.

With these changes, organizations are finding it difficult to recruit and

retain qualified personnel. As corporate downsizing continues,
organizations are also experiencing a flattening of their organizations,
challenging them to provide sufficient growth opportunities for
employees.
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On the plus side, organizations find today’s employees

exhibit a more flexible approach to work. On the minus side,
employees may feel less loyalty to the organizations for
which they work.

Organizations now look to mentoring to implement a

strategic game plan that includes:

Recruitment
Retention
Professional development
Development of a multicultural workforce
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Does mentoring happen naturally?

Absolutely. Informal mentoring occurs all the time and is a
powerful experience. The problem is that informal mentoring is
often accessible only to a few people or employees (in
organizational mentoring) and its benefits are limited only to
those few who participate. Formal or structured mentoring
takes mentoring to the next level and expands its usefulness
and corporate value beyond that of a single mentor-mentee
pairing.

How are informal and formal mentoring

different?
Informal and formal mentoring are often confused, but they are very
different in their approaches and outcomes.

Informal mentoring:
 Goals of the relationship are not specified
 Outcomes are not measured
 Access is limited and may be exclusive
 Mentors and mentees self-select on the basis
of personal chemistry
 Mentoring lasts a long time; sometimes a lifetime
 The organization benefits indirectly, as the
focus is exclusively on the mentee
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Formal mentoring
 Goals are established from the beginning by
the organization and the employee mentored
 Outcomes are measured
 Access is open to all who meet program criteria
 Mentors and mentorees are paired based on
compatibility
 Training and support in mentoring is provided
Organization and employee both benefits directly.

What is “chemistry” and “compatibility?”

"Chemistry" is an intense, very personal feeling – an initial
connection or attraction between two individuals that may
develop into a strong, emotional bond. Unstructured and
unpredictable, it is the basis for an informal mentoring
relationship.

"Compatibility" occurs when individuals work together in

harmony to achieve a common purpose. In formal mentoring,
that means a more-seasoned person leading someone less
experienced through a structured professional-development
program in much the same way teachers facilitate learning.
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Why do
organizations need a structured mentoring program?
Many people do not see the essence of an organizational mentoring
program because they feel managers are
already performing the role? While many managers try to
demonstrate mentoring behavior on an informal basis, it is
very different from having a structured mentoring program.
There is a qualitative difference between a manager-
employee relationship and a mentor-mentee relationship.
More so, the manager has a duty to oversee the duties of the
junior employee and make sure the deliverable and KPI’s are
met. Merging the two together might not work so well.

 Managerial Role
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The manager-employee relationship focuses on achieving

the objectives of the department and the company. The
manager assigns tasks, evaluates the outcome, conducts
performance reviews, and recommends possible salary
increases and promotions.

Because managers hold significant power over employees’

work lives, most employees demonstrate only their strengths
and hide their weaknesses in the work environment.

 Mentoring Role
A mentor-mentee relationship focuses on developing the mentee
professionally and personally. As such, the mentor does not evaluate
the mentee with respect to his or her current job, does not conduct
performance reviews of the
mentee, and does not provide input
about salary increases and promotions.

This creates a safe learning environment, where the mentee feels free
to discuss issues openly and honestly, without worrying about
negative consequences on the job.
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The roles of manager and mentor are fundamentally different.

That’s why structured mentoring programs never pair
mentors with their direct reports.

Organizational benefits of mentoring?

Mentoring benefits the organization, mentors and mentees. A
successful mentoring program benefits your organization by:
 Enhancing strategic business initiatives
 Encouraging retention
 Reducing turnover costs
 Improving productivity
 Breaking down the "silo" mentality that hinders

cooperation among company departments or divisions.

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 Elevating knowledge transfer from just getting

information and to retaining the practical experience
and wisdom gained from long-term employees.
 Enhancing professional development.
 Linking employees with valuable knowledge
and information to other employees in need of such
information
 Using your own employees, instead of outside
consultants, as internal experts for professional
development
 Supporting the creation of a multicultural
workforce by creating relationships among diverse
employees and allowing equal access to mentoring.
 Creating a mentoring culture, which
continuously promotes individual employee growth
and development.

Mentors enjoy many benefits, including:

 Gains insights from the mentee’s background
and history that can be used in the mentor’s professional
and personal development.
 Gains satisfaction in sharing expertise with others.
 Re-energizes the mentor’s career.
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 Gains an ally in promoting the organization’s

well-being.
 Learns more about other areas within the
organization.

Mentees enjoy many benefits, including:

 Gains from the mentor’s expertise
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 Receives critical feedback in key areas, such

as communications, interpersonal relationships,
technical abilities, change management and
leadership skills
 Develops a sharper focus on what is needed to
grow professionally within the organization
 Learns specific skills and knowledge that are
relevant to personal goals
 Networks with a more influential employee
 Gains knowledge about the organization’s
culture and unspoken rules that can be critical for
success; as a result, adapts more quickly to the
organization’s culture
 Has a friendly ear with which to share
frustrations as well as successes?

How does an organization know when it’s ready to implement

a formal mentoring program?
An organization that values its employees and is committed to
providing opportunities for them to remain and grow within the
organization is an ideal candidate for initiating a mentoring program.
Ideally, the organization has an internal structure to support a
successful program.
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Examples include:
 A performance management program
 Developed competencies
 A valued-training function
 Diversity training
 A succession-planning process
 A management development program
 Strategic business objectives

In addition, there should be individuals within the higher ranks

of the organization who will champion the mentoring initiative
and help make it happen. Advocates may include the
organization’s president, vice presidents and other influential
executives.
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A Mentoring Program Manager (MPM) is also needed to

coordinate the mentoring program. The MPM should be someone
who is perceived as a facilitator, listener and coalition-builder – a
person who is trusted. MPM is not a

“Mentoring brings us together- across generation, class, and often

race- in a manner that forces us to acknowledge our
interdependence, to appreciate, in Martin Luther King, Jr.’s words,
that ‘we are caught in an inescapable network of mutuality, tied in
a single garment of destiny.’ In this way, mentoring enables us to
participate in the essential but unfinished drama of reinventing
community, while reaffirming that there is an important role for
each of us in it.”

Marc Freedman

full-time position, so mentoring responsibilities must be balanced

with the MPM’s other duties. Typically, such a person works in a
Human Resources, Organizational
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What does a Mentoring Program Manager do?

Coordinating the mentoring process within the organization
means working with a Management Mentors consultant, as
well as fellow employees, to design and implement a
mentoring initiative that fits the organization’s culture.

The initiative forms the basis for ongoing mentoring. During the
pilot, a Mentoring Program Manager (MPM) typically works with 20
to 30 individuals (10 to 15 pairs). The manager contacts them on a
regular basis, making certain the relationships are going well and
that the mentoring program is achieving its goals. The MPM offers
each pair whatever resources may be needed. The MPM also
becomes the organization’s internal mentoring expert, serving as a
resource for various departments and divisions that have an interest in
pursuing mentoring.
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The amount of time this take varies. Normally, a MPM spends

one to four hours per week coordinating the project,
depending on how often the mentor-mentee pairs meet.

“SO MANY ORGANIZATIONS HAVE A MENTORING ARM, BUT THEY

DON’T REALLY DO IT. THEIR IDEA OF MENTORING A KID IS GIVING
THEM GENERAL ADVICE. BUT WHAT THEY NEED DO IS READ WITH
THE CHILDREN.” -WALTER DEAN

How can we create a pilot mentoring program?

The Mentoring Program Manager forms a task force of 6-8 people.
Members of the task force should represent a cross-section of the
organization, including potential mentors and mentees, supervisory
personnel and any
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stakeholders who can bring value to the process. For

example, a representative from Human Resources might
help tie department goals with the goals of the mentoring
program.

The task force:

 Determines the goals of the program
 Chooses the proper mentoring model
 Selects criteria for mentors and mentees
 Defines other critical components of the program
 Interviews potential candidates
 Matches participants
 Evaluates results at the end of the pilot program

How can you determine an organization’s need for

mentoring?
Some organizations conduct focus groups, employee
surveys or both to determine where the need for mentoring is
greatest, and whether there is sufficient support for a
mentoring program.

Other organizations rely on task force members, who have

been asked to participate because of their knowledge of the
organization and the population
being targeted. The appropriate method
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depends on what steps an organization has already taken as

well as what resources are available.

Are there different types of mentoring models in a

structured program?
One of the advantages of mentoring is that it can be adapted to
any organization’s culture and resources. There are several
mentoring models to choose from when developing a mentoring
program, including:

 One-On-One Mentoring
The most common mentoring model, one-on-one mentoring
matches one mentor with one mentee. Most people prefer
this model because it allows both mentor and mentee to
develop a personal relationship and provides individual
support for the mentee. Availability of mentors is the only
limitation.

 Resource-Based Mentoring
Resource-based mentoring offers some of the same features as one-
on-one mentoring. The main difference is that mentors and mentees
are not interviewed and matched by a Mentoring Program Manager.
Instead, mentors agree to add their names to a list of available
mentors from which a
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mentee can choose. It is up to the mentee to initiate the process by

asking one of the volunteer mentors for assistance. This model
typically has limited support within the organization and may result in
mismatched mentor-mentee pairing.

 Group Mentoring
Group mentoring requires a mentor to work with 4-6 mentees at one
time. The group meets once or twice a month to discuss various
topics. Combining senior and peer mentoring, the mentor and the
peers help one another learn and develop

appropriate skills and knowledge. Group mentoring is limited by

the difficulty of regularly scheduling meetings for the entire
group. It also lacks the personal relationship that most people
prefer in mentoring. For this reason, it is often combined with
the one-on-one model. For example, some organizations
provide each mentee with a specific mentor. In addition, the
organization offers periodic meetings in which a senior
executive meets with all of the mentors and mentees, who then
share their knowledge and expertise.
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 Training-Based Mentoring
This model is tied directly to a training program. A mentor is
assigned to a mentee to help that person develop the
specific skills being taught in the program. Training-based
mentoring is limited, because it focuses on the subject at
hand and doesn’t help the mentee develop a broader skill set.
 Executive Mentoring
This top-down model may be the most effective way to create a
mentoring culture and cultivate skills and knowledge throughout
an organization. It is also an effective succession-planning tool,
because it prevents the knowledge "brain drain" that would
otherwise take place when senior management retires.

What is the role of diversity in mentoring?

Mentoring can be of great value to women and people of color.
These are the employees who have often been disenfranchised
within organizations and have not been
“chosen” by informal mentors.

However, if mentoring is to be successful as a tool for empowering

employees, it needs to be truly diverse – representing everyone
within the organization and not just
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women and people of color. By including the broadest spectrum of

people, mentoring offers everyone the opportunity to grow
professionally and personally without regard to gender or race. A
successful mentoring program needs to balance the need for
inclusion with the need for fair representation.

For many years, some organizations thought of mentoring only as a

tool to help women and people of color. Viewed inappropriately as a
remedial program, mentoring lacked widespread support within most
organizations.

These mentoring programs did not provide mentees with the

assistance they really needed. Good intentions gone astray
resulted in a misapplication of mentoring.

Diversity is equally important when choosing mentors within

organizations. Because many mentoring programs are geared to
management levels, today’s mentor population still tends to be made
up of white males.

As organizations seek to devise mentoring programs, they need to

include mentors who are both non-white and non-male. Using the
resource-based or group-based models, tied to the one-on-one
mentoring model, can help
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diversify the mentor population.

For example, one of the mentoring goals might be to learn how to

navigate effectively through the organization’s culture. Using the
group model, an organization might have a panel of diverse
employees meeting with the entire mentor-mentee population to
share how they have successfully navigated that culture.

What results can be achieved in a structured mentoring

program?
Though a great deal has been written about mentoring, there is little
statistical data supporting its value. Much of the published information
available is based on theory alone. Because mentoring is about
human relationships, it is more difficult to quantify scientifically.

Using interviews and questionnaires, Management Mentors has

evaluated mentoring programs implemented by client companies.
The results consistently demonstrate that well-designed programs
lead to the acquisition of knowledge and expertise within a trusting
and supportive mentoring relationship.

Why can’t we create a program ourselves?

Creating a structured mentoring program requires a solid
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understanding of mentoring dynamics. There are myriad examples

of mentoring programs that failed because organizations
mistakenly believed they fully understood mentoring. Rather than
create a successful program, they negatively impacted the careers
of both mentors and mentees. Typically, such programs have put
people together without clear guidelines, offered no training about
mentoring relationships, lacked internal support, paired employees
with the bosses of the employees’ immediate supervisors, and
violated other fundamentals of mentoring. The amount of
outside expertise needed to establish a mentoring program
varies from organization to organization. Most organizations
have found that using a consultant to set up a pilot program
has made the difference between success and failure.
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The Bottom Line

A mentor can be a difference maker in your career and life. It
is important to come to the relationship with open eyes on the
role and to have proper expectations. And remember, the
impact of a mentor's guidance and wisdom now may not be
felt for years to come. However, it will be felt.
176 | P a g e

https://www.forbes.com/sites/georgedeeb/2014/08/28 /is-a-startup-
incubator-or-accelerator-right-for-you/?s=trending#6b8c0c243d7a

http://www.chrisjsnook.com/my-rants/2015/2/12/clear-
distinctions-mentor-v-board-advisor-v-board-director

https://www.thebalance.com/how-to-make-a-mint-with-an-
Stephen Akintayo, (Africa Most Sought-after Investment
Coach) an inspirational speaker and Serial Entrepreneur
is currently the Chief Executive Officer of Stephen
Akintayo Consulting International and Gtext Media and
Investment Limited, a leading firm in Nigeria whose
services span from Digital Marketing, Website Design,
Bulk SMS, Online Advertising, Media, E-Commerce,
Real Estate, Consulting and a host of other services.

Stephen, Also Founded GileadBalm Group Services

which has assisted a number of businesses in Nigeria to
move to enviable levels by helping them reach their
clients through its enormous nationwide data base of real
phone numbers and email addresses. It has hundreds of
organizations as its clients including multinational
companies like Guarantee Trust Bank, PZ Cussons,
MTN, Chivita, among others.

Stephen, popularly called Pastor Stephen is also the

founder of Omonaija, an online radio station and SAtv in
Lagos currently streaming for 24 hours daily with the
capacity to reach every country of the world.

To invite Stephen Akintayo for a speaking engagement

kindly visit stephenakintayo.com email:
[email protected] or call: 08180000618