AIIA CollabITBusiness Skills for GrowthUsing mentors to grow

23 July 2009

Agenda

• What is mentoring and why it is so valuable

• The concept of business versus personal mentoring

• The difference between good and bad mentoring

• How to find the right mentor for you

• A word or two about i.lab

What is a mentor?

A trusted counsellor or

guide.

Individuals, usually older, always more experienced, who help and guide another individual’s development

Not seeking personal gain*

Not company directors

Not business consultants

Mentors are….

Shades of grey

• What is the difference between mentoring and coaching?

• What is the difference between business mentoring and personal mentoring?

• Should mentors push solutions or offer options?

• Should mentoring be a formal or an informal process?

Why is mentoring so valuable?• It can be lonely at the

top (or on your own)• They’ve been there,

done that• It is usually free• Mentors extend your

network• A truly independent

relationship and perspective.

Good mentors provide

Safety Challenge Strategic input A sounding board Perspective Counsel Coaching Guidance

Characteristics of good mentors• All successful business people do not necessarily

make effective mentors

• The qualities which are essential in an effective mentor include:

– A DESIRE TO HELP – HAVE HAD POSITIVE EXPERIENCES – GOOD REPUTATION FOR DEVELOPING OTHERS – TIME AND ENERGY – UP-TO-DATE KNOWLEDGE – LEARNING ATTITUDE – DEMONSTRATED EFFECTIVE MANAGERIAL

(MENTORING) SKILLS

Who?

DIY

Define a list of your top goals for the mentoring relationship – consider gaps in your knowledge/the organisation.

Brainstorm a list of prospective mentors – no limits.

Research available information about them.

Select the top candidates who are aligned with your goals/gaps.

Don’t cold call – get introduced.

ENGAGE A PRO

We all know the problem with DIY.

Matching and management of the process is a science.

Engage a professional to help decide develop the brief.

Professionals also have access to willing, capable and pre-screened talent.

Professionals will manage the process (and deal with any fall out).

Where do you find a mentor?Government programs• Mentoring for Investment /Mentoring for Growth

www.business.qld.gov.au/dsdweb/v4/apps/web/content.cfm?id=7634 • i.lab www.ilab.com.au• Creative Enterprise Australia www.qut.creativeenterprise.com.au

Organisations• Gray Hair Alchemy www.greyhair-alchemy.com.au • Managers and Directors http://www.managers-directors.com.au/contact

/ • Kelvin Davis www.kelvindavis.com.au• Mpowering Business http://www.mpowering.com.au/mentor2.html• The Executive Connection www.tec.com.au • CEO Circle www.theceocircle.com • Queensland Leaders www.queenslandleaders.com.au

Networks• Industry organisations – Women in Technology, AIIA• Peers - lets test this one now• Social networking tools e.g. Linked-in

Getting the best out of mentoring

• The responsibility of mentor and mentee• Frequent contact• Set goals and monitor progress• Be prepared• Take an interest in the mentor• Go easy• Be clear about what you need• Mentor care• Reciprocation• Celebrate success• You run your own business

About i.lab• i.lab helps young technology companies turn

great ideas into great businesses

• i.lab helps all types of technology innovators: – Software companies – Biotech companies – Nanotech companies – Electronic hardware companies – Almost any new technology-based business

• i.lab is a not for profit, 100% Queensland Government owned entity

• i.lab is a key initiative of the Smart State Strategy• i.lab has been operating since 2000• i.lab is managed by a professional, commercially

experienced management team and a highly qualified independent board of directors

SPACE

OTHERSTUFF

BUSINESS BASICS

NETWORKS

MKTINGAND

MEDIA

CAPITAL RAISING

SUPPORT

INTER’LSOFT

LANDINGS

STUDENTINTERN-SHIPS

SKILLSDEV’T

COACHING

MENTORING

i.lab

i.lab’s Service Offering includes

i.lab mentors include

• David Merson• John Puttick• Jason Seed• Gail Geronimus• Chris Gorry• John Hummelstad• Bob Brammah• Andrew Campbell• And 30 other business leaders, entrepreneurs and

expert service providers….

i.lab’s current members

Summary• Who needs a mentor –

everybody!• Many choices – select the

best one for you, now • Not everybody is a good

mentor – what to look for • Some ways to find a mentor• Making the relationship work

– a two way street• Good preparation +

continued effort = great outcomes