热度 17
2014-8-1 15:46
1740 次阅读|
0 个评论
The CEO spot in a company, especially a startup, can be a lonely one. For this reason, I strongly advocate having a mentor. Finding the right mentor, however, may be more important than having one. In this blog I talk about how to recruit a mentor, what qualities to look for, and touch briefly on the compensation. Finding the right mentor should not be a random choice or one done without some consideration. The mentor you choose should have an understanding of your business and why decisions are being made the way they are. Preferably, the chosen mentor has been an entrepreneur and CEO as well. That's not to suggest a mentor should be involved in day-to-day decision making, however. Someone with experience, who maintains a safe distance from the daily business activities, can offer much-needed perspective. First, a mentor needs to be a good listener: A good mentor will guide an entrepreneur through the process and empower him or her to come up with the right answer, not give answers. Indeed, the entrepreneur has the great advantage of knowing the business better than anyone else. The role of the mentor is to help the entrepreneur sift through many options or give him or her a boost of confidence to implement a new program. That's why building a great mentor relationship includes open lines of communication. It is a dialog where each of you approaches the other by asking questions on why and how decisions are made. The discussion will flow from there. Think of it as establishing a peer-to-peer relationship because you will be working at a personal level. The mentor will serve as a sounding board and can help through the emotional ups and downs. And, there will be many. Obviously, you're wondering how to go about finding the right person. The answer is there's a maze of different possibilities. A good place to start is to consider which entrepreneurs or corporate executives you admire and want to emulate. That's not to say they will accept your proffered invitation. Or, that they're a good fit once you get to know them. It's well worth making the effort because they may refer you to someone who is a better fit. Your own network should be tapped, too, to identify potential mentor candidates with relevant experience. Having first-hand, working knowledge of an industry is what to look for. Ask around to find out his or her reputation to better assess strengths or perceived weaknesses. It’s also not unusual for one of the members of the board of directors to take a more active role as mentor to the new CEO. A potential benefit of this approach, though, is that the mentor becomes an ally at the board level since the mentor would have reviewed and presumably approved key decisions. Of course, the board member/mentor will make sure that he or she still exercises the fiduciary duties of a board member, regardless of the more personal relationship built with the CEO. Angel investors are good candidates to become mentors. They like to relive the glory days vicariously through investments and the entrepreneurs driving the companies. They’re interested also in helping you succeed. Mentors can help with a specific need over a limited period of time. For example, if the start-up founding team is weak on the sales side, a seasoned vice president of sales can help build a channel. Or a marketing executive can counsel you on plotting the timeline for your go-to-market strategy. Other experienced executives could come from a customer or a supplier. You might consider approaching a university professor to assist in the technical vision of the company. As for compensation, entrepreneurs typically offer stock options rather than cash when the company is still in the startup phase. Stock has another advantage as well because it could give a mentor an added attachment to the company and an even stronger desire to see it succeed. An appropriate equity stake for a mentor would be in the 0.25% to 1.0% range, with the higher number more appropriate for an early stage company. In this blog, I focused on the entrepreneur’s view of having a mentor, but I’ll close with why someone would want to be a mentor. Among the many benefits, it’s profoundly satisfying to help an entrepreneurial company triumph knowing you’ve played a role. Michel Courtoy is a former design engineer and EDA executive who sits on the board of directors at Breker Verification Systems.