Mentor Column

 

Who owns it?

 

By Greg Warnock

 

More than 10 years ago, I was first asked by Brad Bertoch to help shape the presentation and strategic thinking of a young technology company seeking venture capital as a volunteer mentor for the Wayne Brown Institute. Since then I have served as a volunteer for the Miller Business Innovation Center, the University Venture Fund and several other organizations and schools. My observation is that these assigned mentoring relationships often dissolve after the required service. Why don't these valuable relationships persist?

I have had two mentoring relationships in my life that lasted for decades. Allyn Mahoney was my first employer and later business partner. Our mentoring relationship lasted over 10 years and we still correspond although Allyn is now retired for the most part. Jurgen Manchot was my first angel investor; we worked together for more than 15 years and on seven different projects prior to his retirement. They were both 25 years my senior but very influential on my thinking, work ethic and skills set. I am forever grateful for their guidance, confidence and friendship. My personal experience validates how important these relationships can be, yet they are rare in practice.

Many organizations and business schools reach out to community and business leaders in an effort to create mentoring relationships with students and emerging entrepreneurs. I am often approached by the institution or organizers to mentor a yet unidentified young person. I am usually not free to select any specific protege; rather the mentor-protege selection is pre-arranged. This is certainly the most common approach. But, is it the most effective for facilitating long-term, high-value relationships?

I now believe that the responsibility for initiating and maintaining mentoring relationships rests with the proteges. Proteges should become more proactive in their recruiting of mentors and the development of relationships with them. The process is not so formal:

 

>> Consider compatibility issues such as gender, age, language requirements, availability, needs, interests, geography, preferences of mentors and young people, life experience and temperament.

 

>> Consider business interests and skills; seek mentors who have achieved what you seek and reflect your work style and ethics.

 

>> Prepare to meet your mentor. Read what you can about your target mentor and prepare for an introduction and a conversation about mentoring, then ask for a referral or introduction.

 

>> Know what you want. A clear understanding of your purpose and objectives will help you find a good mentor. Clear communication will also help your mentor find value in the relationship.

 

A mentoring relationship initiated by the protege will develop more naturally. A good mentoring relationship provides value to both the mentor and protege. The mentor can see the relationship as a nice opportunity to revitalize their understanding of newer technologies and markets; it's a chance for mutual learning.

Mentors generally respond to those who ask good questions, listen well and demonstrate a desire and respect for their advice and counsel. Most successful business folks and entrepreneurs seek opportunities to "give back" and help others. Those interested in the value-add of mentorship must take the lead, be proactive and create the relationships they would find valuable.

 

Greg Warnock is a managing director at Mercato Partners, one of the founders of vSpring Capital and a founder of Junto Partners. He has conceived, founded, operated and sold several companies of his own. He is also an active angel investor and mentor of entrepreneurs.

 

Launch - Jan/Feb 2007