How to Impress at your First Meeting with your Small Business Mentor
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Transcript of How to Impress at your First Meeting with your Small Business Mentor
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Supporting Home and Small Business
How to Impress at your First Meeting
with your Small Business Mentor
Part ONEPurpose for the Meeting
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If you have not already briefly met, this is the opportunity to meet the mentor and get to know him or her.
For the mentor to meet you and to hear a bit about yourself and a lot about the company
Define the role of the mentor
Define your role in the relationship
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Note:It is assumed that you have already interviewed other prospective mentors and this is your final selection.
Part TWOPreparing for the Meeting
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Your Agenda
Compile a list of talking points which should include:
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Logistics Agree on a time and date
Agree on an estimated duration for the meeting
Arrange a suitable venue Select a neutral site Arrange for meals and/or refreshments Ensure visual aids available if necessary e.g. projector and screen
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Your Agenda
Explanation of why you need a Mentor
The Role of the Mentor as you envisage it
Anticipated mentorship duration Anticipated outcomes
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Your Agenda
A short Biography of yourself
Your qualifications Working career in both the
corporate world and, if applicable, Small Business
Overview of family, hobbies, likes and dislikes
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Your Agenda
An Overview of the Company
It’s Purpose, Goals and Growth potential Structure, size and location The Product/s, including variations, uses,
pricing and profit margins Current or Intended markets, including
size, competition and opportunities Financial aspects, including loans, cash
flow projections and current status of the company, if not new
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Your Agenda
Forward your proposed agenda to the mentor requesting comment and for a list of his or her discussion points.
Finalise and agree Agenda
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Documentation
Have copies of all relevant information
Business Plan Sales; actuals and forecasts Financial statements including Balance
Sheet, Cash Flow, Profit and Loss and any loan arrangements
List of major customers List of major suppliers Proposals for future product or market
expansion, if relevant
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Mental preparation
Points to remember:
Be relaxed; this is not a sales pitch or a bank loan application
Although an informal discussion, be professional and concise
Prepare for lots of questions, some of which could be embarrassing or difficult to answer – mentors have a way of penetrating most personal barriers
Practice your presentation
Part THREEThe Meeting
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Arrive at the venue early
Make sure everything is as requested
Arrange times for refreshments and or meals to be served
Test any visual aids that have been provided
Meet the mentor at the entrance to the venue
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During the Meeting Stick to the agenda but spend 5 minutes at
the beginning for “administration” – where the rest rooms are, how the mentor can be contacted by others, the timetable and other items that he or she may need to know about. Like will cell phones be ON or OFF!
Be honest and open, if the company is in trouble explain why – don’t sugar coat the facts
Listen to the mentor and don’t be afraid to ask questions
Record (with the mentors agreement) the session or take copious notes
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During the Meeting
Explain why you need a mentor and what you envisage the role to be
Ask the mentor to explain how they envisage their role
Agree on what needs to be done
Draft an action plan – who will do what and agree on the how, when and where of the relationship
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During the Meeting
Agree on a duration – how long will the relationship endure
Agree on points of measurement – how will either party know if progress is being made
Agree on what the final outcome should look like
Communication – regular meetings, by email or telephone, how will emergencies be handled?
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During the Meeting Important
Let the mentor know if there are any personal peculiarities or situations, for example:
You may have to collect the kids from school at a fixed time each day
You are perfectionist You talk with aliens (joke!)
It is important that there are no surprises for either party as the relationship gets under way.
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During the Meeting Important
Set a date for the mentor to visit your company
If you have employees it is imperative that they meet the mentor. Nothing scares employees more than unannounced CHANGE.
Set a START DATE for the mentoring to begin.
Part FOURAfter the Meeting
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Draft a summary of the discussion listing all the action points and dates.
Send a copy to the mentor and ask for comment and input.
When everything is finalised it is important that both parties sign the document. It is your point of reference should clarity be required later on.
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ENJOY the experience
This is a relationship that is going to develop and/or improve your company’s performance as well as that of you, the OWNER
Make the most of it
Want to know more about Mentoring?
Get a copy of my eBook HOW TO BE MENTORED –A Guide for Home and Small Business Owners
Available from my website
Use coupon mentor25 for a 25%
discount
Also available fromAmazon Kindle
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