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An edtech startup called Entity Academy — which provides women with training, in areas like data science and software development; mentoring; and ultimately job coaching — has raised $100 million on the heels of strong growth of its business, and an ambition to improve that ratio.
If you are like most entrepreneurs I know, there just aren’t enough hours in a day to get all your own work done, as well as run the many one-hour meetings each team member seems to demand for decisions and mentoring. For one-on-one coaching from the startup founder, I call this approach five-minute mentoring.
And speaking of coaching, if you haven’t read Googled by Ken Auletta you should. And in it he profiles the work of Coach Campbell who was once on the boards of both Google & Apple. EXECUTIVE COACHES. See there are tons of people who play the role of mentor in their own capacity. It’s a great read.
Wonderful human being who is civically engaged, mother of 3, mentorer of younger founders, hard worker and arguer extraordinaire (so says her current Twitter bio). She is a coach and mentor to team members. People often ask me what VCs look for when we hire partners and many have asked how to become VCs themselves one day.
Every entrepreneur and business person I know wishes he had more time for coaching all the members of his team. I often hear the excuse that coaching takes more time than simply diving in and doing the job for the other person, but is that really true? Exceptional communication is a prerequisite to coaching.
I believe you can be much more productive, as well as a more effective leader, if you approach most meetings as mentoring opportunities, and limit them to five minutes. With the five-minute mentoring approach, the mentee asks for your support in their decision, or asks for your insight on the considerations for them making a future decision.
Image via Pixabay I’ve always been a bit confused about the difference in a business context between a coach and a mentor. According to many pundits , a mentor shows you the right way based on experience, while a coach brings out the best in you, then let’s you find your own way. Reinforce a “team-first” mindset.
The dictionary definition of a mentor is “an experienced and trusted advisor,” or “leader, tutor or coach.” The big difference, of course, is that a mentor looks ahead to help you, while a critic looks backward to tell you what you did wrong. One of the key characteristics of a successful mentor relationship is trust.
I believe you can be much more productive, as well as a more effective leader, if you approach most meetings as mentoring opportunities, and limit them to five minutes. With the five-minute mentoring approach, the mentee asks for your support in their decision, or asks for your insight on the considerations for them making a future decision.
I believe you can be much more productive, as well as a more effective leader, if you approach most meetings as mentoring opportunities, and limit them to five minutes. With the mentoring approach, the mentee asks for your support in their decision, or asks for your insight on the considerations for them making a future decision.
Seed investors are aplenty and of course they need downstream money to fuel their early-stage bets. Of course these are great places to network with other investors, meet great entrepreneurs and keep your connections strong with senior execs at larger companies like Yahoo!, Of course I would like to be in every great deal ever done.
If you are like most entrepreneurs I know, there just aren’t enough hours in a day to get all your own work done, as well as run the many one-hour meetings each team member seems to demand for decisions and mentoring. For one-on-one coaching from the startup founder, I call this approach five-minute mentoring.
Working with early-stage teams : coaching, mentoring, setting strategy, rolling up sleeves: 9/10. I divided success into the phases of venture capital and 18 months into writing my first check here was my view (details on each in the link above). Sourcing high-quality leads : 9/10. Since then?
But, advisors, coaches, and mentors can often fill the bill. In creating Mentor Night , I’ve been happy to hear how giving most people are. If you present a mentor with an interesting startup challenge in a space where they have experience or expertise, the mentors are quite willing to spend a few hours to help the founder.
The dictionary definition of a mentor is “an experienced and trusted advisor,” or “leader, tutor or coach.” The big difference, of course, is that a mentor looks ahead to help you, while a critic looks backward to tell you what you did wrong. One of the key characteristics of a successful mentor relationship is trust.
The wisest mentor I ever had was Ameet Shah , my partner on several projects. He coached me that I had to start with the answers. I later took a course with Barbara Minto (who taught McKinsey people) and bought her book “ The Pyramid Principle.&# This was a breakthrough for me. How can I START with the answers?
As a long-time mentor and business advisor, I find it ironic that many look only to friends for advice. They forget that friends tell you what you want to hear, while good mentors tell you what you need to hear. When the message is the same from both, you probably don’t need the mentor anymore, but you always need the friend.
Of course I’m not preaching crazy, irrational spend or having Kid Rock at your next company party. You can do them all yourself, of course. You’re the coach, mentor, cheerleader. And while this might sound to the inexperienced person like a sensible idea – it is not. But at what cost?
I acted as the occasional mentor, advisor and coach to Ethan. In industry this is known as “yield management” and of course it needs to exist. The company was called Red Beacon. I was standing with him when he won the TechCrunch 50 award. In the same year they won Business Insider’s Startup competition.
In my experience working with startups, the best approach these days is to find and use a good mentor (been there, done that). Of course, mentoring is not new – it’s been the favored way to learn arts and crafts since way back in the middle ages. But I assert that mentoring in business is making a comeback.
If you are like most entrepreneurs I know, there just aren’t enough hours in a day to get all your own work done, as well as run the many one-hour meetings each team member seems to demand for decisions and mentoring. For one-on-one coaching from the startup founder, I call this approach five-minute mentoring.
Of course, some balance is required. Priority is placed on employee mentoring and coaching. Mentoring and coaching tend to improve commitment, motivation, decision making, and creative talents, which are required for a competitive business and career.
I believe you can be much more productive, as well as a more effective leader, if you approach most meetings as mentoring opportunities, and limit them to five minutes. With the five-minute mentoring approach, the mentee asks for your support in their decision, or asks for your insight on the considerations for them making a future decision.
Even business school courses don’t teach you to operate strategically, deal with people objectively, and create loyalty within a diverse workforce. Now this same individual has to step into the spotlight, and meet with customers, analysts, and investors. Insulation from the real world will not work during scaling. Tactical versus strategic.
The basic components are obvious: talented founders, great engineers, angel money, venture capital, access to larger corporates (for business, funding & talent), great education / research (for IP breakthroughs) and a sufficient ecosystem of mentors, advisors, executive coaches and mavens. Venture Capital.
Perhaps you need to do more to be a role model for accountability , and provide more coaching on exactly what it means. I often think of the scope of this example in my role as mentor to a struggling entrepreneur who is quick to blame his problems on employee mistakes, or even changing customer expectations.
To assess where you are, and to unlock your full potential, there are many courses available, as well as seminars and gurus, but a good place to start is a book on the subject, like the classic one from John Mattone, “ Intelligent Leadership.”
I enjoyed her recommendations and real-life stories as well as her self-coaching advice, which I will paraphrase here, combined with my own insights from the field: Take a hard look in the mirror to see yourself today. Mentors and coaches are always willing to help you find creative ways around roadblocks, even ones you don’t even see.
The creators of the renowned StartupWeekend — a place where random ad hoc teams work frantically for 54 hours to build a demo of a new business and then complete for fame and fortune — have picked up where StartupWeekend left off and have birthed a new course for entrepreneurs who need to level up called StartupWeekend Next.
Yet I find, as a mentor and outside consultant, that many of you focus only on working conditions and compensation as the key factors determining team engagement , health, and productivity. Of course, you as the business leader have a key role in making all this happen. Social interactions. Intellectual stimulation.
With some coaching and mentoring from other leaders, I was able to do it myself, so I know you can do it too, by committing to the following strategies: Train yourself to always look for positives, not negatives. Of course, most professionals are optimistic, so they tend to over-commit and underestimate work requirements.
Of course, as you work with contract players, explore the potential for a long-term relationship, and wait until your organization matures to pursue career positions. By hiring contract experts, less oversight and coaching is needed. Focus on a very flat organization, with minimal hierarchy.
” Of course, in practice it’s not that easy. My own version is “Hire smart and hire right, and you’ll be a mentor rather than a boss.” Instead of spending a lot of time managing them, invest a little quality time in coaching them. ” Here are some tactics and strategies for making this work.
As a long-time business advisor and mentor to entrepreneurs, I consistently find that the most thriving businesses are people-centric, and those team members create the best processes, rather than the other way around. Obviously, both are required for a company to stay healthy and growing.
During my many years of mentoring professionals and entrepreneurs in business, I more often see people focusing on how to get their ideas heard , than how to promote themselves. Of course, how you do this effectively is critical. Your career or startup future is in your hands, not those of your boss, your mentor, or investors.
When I heard a friend and business mentor say, “Your startup won’t fail if you don’t quit,” I realized that every entrepreneur should adopt “never give up” as their mantra. Of course, they may be out of money as well, but that is often more of an “excuse” than a reason. So why do most startups fail?
Top performers want to know how to stand out, and business leaders need to know how to better recognize and mentor aspiring superstars before they burn out, or move on to new opportunities. Top performers interpret new targets and new rules as a need to recalibrate and refocus their efforts, as well as the business.
Of course as a frequently traveler I know this, too. We are money, advice, coaching, cheerleading, interventionist but not “the decider.” They are there to help you correct your course when you want to make decisions that their history and wisdom tells them might lead you into a dark alley. That is what separates us.
I admit that I haven’t yet read it but I’ve had numerous discussions with Brad over the years about board structure & conduct and consider him a mentor on the topic. I should note that my friend Brad Feld has written a new book on the subject that I would recommend if you want the bible on the topic. In the Early Days.
When I heard a friend and business mentor say, “Your startup won’t fail if you don’t quit,” I realized that every entrepreneur should adopt “never give up” as their mantra. Of course, they may be out of money as well, but that is often more of an “excuse” than a reason. So why do most startups fail?
These days, with the many Internet articles and new courses available, most new entrepreneurs readily cross the gap from lack of business knowledge to knowing, but many never make it over the knowing versus doing gap. by Erica Peitler, a well-known leadership performance coach. Don’t let the memory of past actions limit thinking.
Many of you business leaders I work with, and entrepreneurs I mentor, have a great strategy and an innovative solution , but struggle with building and motivating the team necessary to run your business. Of course, listening alone isn't enough. Spend time coaching and mentoring team members.
These days, with the many Internet articles and new courses available, most new professionals readily cross the gap from lack of business knowledge to knowing, but many never make it over the knowing versus doing gap. by Erica Peitler, a well-known leadership performance coach. Don’t let the memory of past actions limit thinking.
Solicit coaching and mentoring. The final step is to vicariously or directly experience a leadership moment of a mentor or peer. Of course, these need to be customized for every culture and every business environment. Experience the leadership moments of others.
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