Mentors and mushrooms

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Since a couple of years, we see emerging more and more mentors around startups... But what are they? Who are they? How to recognize them? How can they help you? In this presentation I explain what startupmentoring is really about.

Transcript of Mentors and mushrooms

Mentors

Wednesday, November 2, 11

Mentors are like Mushrooms

by @peignoir

Wednesday, November 2, 11

How to recognize the good ones?

Wednesday, November 2, 11

Good mentors

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How to recognize them..

Successful people

You will have to attract them (they usually say no)They are awfully busy

They helped a lot of successful StartupsThey have connections and usually $

Rare / hard to find

Wednesday, November 2, 11

Toxic Mentors

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How to recognize the toxic ones..

They claim to be a mentor (its not a job!) They will come to you (usually you beg for a good one)They cost $ (usually mentors will invest...) They never successfully launched anythingThey will spend a lot of time with you (they have time!)They are everywhere!

Wednesday, November 2, 11

Side Effects of Toxic Mentors

-Losing credibility - Killing your Startup

- Weird strategic move - If you survive he will claim success

Wednesday, November 2, 11

Where to find them in the Startup eco-system

DISCOVERY

Garage

?INSPIRE/CELEBRATE

You are anEntrepreneur

You want to be anEntrepreneur

ACTION

You have a solid team with some good ideas

STARTUP

You have a stable business model and a great product

SCALE

You are taking over the World!HIGH GROWTH

Youve got some passions & ideas

Wednesday, November 2, 11

What is Mentoring?

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Origin

Someone who imparts wisdom to and shares knowledge with a less experienced colleague

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Is it only about Knowledge?

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An unfair advantage provider

Mento

rs net

work

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Example of unfair advantage:

Before After

Mary Maxwell Gateswas an American businessperson. Gates served 18 years (19751993) on the University of Washington board of regents. She was the first female president of King Countys United Way, the first woman to chair the national United Ways executive committee where she served most notably with IBM's CEO, John Opel, and the first woman on the First Interstate Bank of Washington's board of directors.

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Network > Knowledge

The Connector Mentor The Guru Mentor

Network < Knowledge

Type of Mentors

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Computing-Tabulating-Recording Company

George W. Fairchild(1854 - 1924)

Sherman Fairchild(1896 - 1971)

Gordon Moore(1929 ... )

How networks and Money Interact with startups

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Having a great Academic network is your first ally! It allows you to build a great unfair advantage by yourself!

Be good at school kids!

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Its only been 6 Years since good accelerators allows you to have access to great mentors via your Talent (usually technical talent!)

Like Colleges each accelerator / incubators are different. Avoid the ones who dont provide good Mentors (cf the Mushroom section)

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Do you need mentors / great academics to succeed?

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Nope...

Theres always exceptions!

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Though having models might help...

Edwin H. Land

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Questions?

franck@startupweekend.org

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