By: Suzanne de Janasz and Maury Peiperl (Harvard Business Review April 2015 Issue)
In 2010, when David Nish was promoted from CFO to CEO at Standard Life, he knew the scale of the challenge his company faced. The 185-year-old giant had just embarked on a sweeping transformation from an insurer to a long-term savings and investment company. Nish also knew that as the person leading the change, he would be tested by decisions and management situations he hadn’t encountered in the past. Certain that he could benefit from the perspective of someone who had been down similar roads before, Nish turned to a somewhat unusual adviser: Niall FitzGerald, a former chairman of Unilever.
The mentoring relationship they subsequently established is illustrative of those we have studied in our research—a two-year inquiry into an emerging way in which new CEOs in large organizations gain access to seasoned counsel and feedback. We found dozens of executives who were accelerating their learning by engaging the services of high-profile veteran leaders from outside their companies. To learn more about this growing but as yet undocumented phenomenon, we interviewed 15 chairman mentors and 25 protégés—CEOs, CEO designates, and CFOs. (Chairman Mentors International facilitated access to many of the study participants.)
On the basis of what we heard, we are convinced that more CEOs should connect with mentors rather than assume that theirs is a burden to be shouldered alone. But we also discovered aspects of such arrangements that make them trickier than the mentoring that takes place at lower organizational levels. At the CEO level, special considerations must go into making a match between mentor and mentee, structuring their sessions to deliver the intended benefits, and prioritizing the process so that it isn’t crowded out by other demands. By sharing what we’ve learned about these issues, we hope to pave the way for more use of this highly efficient learning model.
Read the full article here.
Posted by: Rick Turoczy (Originally published at siliconflorist.com on July 3, 2012)
Around the time PIE was starting the accelerator phase of this ongoing experiment, David Cohen, cofounder of TechStars, shared the TechStars Mentor Manifesto. And it served as an inspiration for me. A post by Micah Baldwin, a former TechStars mentor, provided a similar nudge for me.
I’m often reminded to go back and reread both of these posts and am inspired, again and again. So I thought I’d take the opportunity to augment the PIE mentor guidance a bit with some things that we’ve learned from observing PIE startups and mentors over the years.
We shared these tips with the PIE mentors and a few of them suggested we turn it into a blog post for the broader mentor community.
So we took that mentoring to heart.
If you’re thinking about becoming a mentor for startups — either in a formal accelerator program or independently — here are some tips for thinking about how to work with entrepreneurs.
Read on here for 10 tips for mentoring startups.
You’ve come so far in your mentor/mentee relationship! Take a breath and take a look at all you’ve accomplished over the past 12 months.
Do you remember where you began a year ago? What was the quality and tone of that relationship then? What were your goals and visions?
Where are you now…and even more exciting, Where are you headed for the next 12 months?
Next month we begin a whole new series of tips! So, dream, journal and wonder at your next level…and stay tuned for more.
How long has it been since you’ve taken a look at the progress you’ve made? As a mentor? As a mentee? In your business? In your personal growth?
We encourage you to take time each quarter with your mentoring partner to celebrate your achievements. What are the demonstrable improvements in outlook, behavior, performance and work satisfaction since your mentoring relationship began? Get specific and outcome-focused. We can’t fully appreciate where we are until we’ve celebrated how far we have come.
Checking in on Goals
How will you know whether or not you’re achieving your goals?
When you get results? Yes. Sometimes that’s the case.
More often the knowing and the awareness of where you are at with your goals lies in the simple, and powerful, action of checking in. You can do this on your own, with a friend, cohort or mastermind and/or with a mentor.
The real work of refreshing your memory and looking at your goals, framing them in your vision, is actually so simple that many overlook it. You won’t when you actively follow this tip.