Mentor Program

The InvestIN Forum maintains a roster of Mentors from its members and relationships that are willing to assist entrepreneurs.

In most cases a mentor will assist an entrepreneurial stage company for several hours on a pro bono basis. If a significant contribution is required then mentors will often work for stock, warrants or options. Please refer to the rules of engagement for entrepreneurs.

If you are in need of a mentor, please submit a brief request to mentor@theinvestinforum.com.

Your request will be submittted to the mentors for response. The staff of the InvestIN Forum will pay particular attention to try to line you up with a suitable mentor.

Early Stage Company Mentors

If you are an experienced early stage mentor and would like to be involved in our mentor program, please submit details of your experience and references to mentor@theinvestinforum.com. Please be sure to highlight domain expertise. Please refer to the rules of engagement for mentors.

RULES of ENGAGEMENT for the ENTREPRENEURS

Please consider these rules as a guide to make things easier for you in working with the InvestIN Forum Mentor program. These rules can be used as steps to achieve a greater impact from your mentoring sessions. There is no mystique to the mentoring process, but rather an ever diligent digging to reveal the truth.

Mentors provide expertise and assist in uncovering your value proposition. Your Mentor will be able to determine what will get investors excited enough to invest or determine that your company may not be suitable for private equity investment.

The Mentor who will be working with you is a seasoned professional with a valuable background ranging from the corporate and investment worlds to extensive start-up and serial entrepreneurial expertise. Each Mentor has a different executive background, but all of the InvestIn Forum Mentors are qualified investors.

Important Disclaimers

1. You cannot use the InvestIN Forum, or any of the InvestIN staff as a reference unless specifically given permission to do so.
2. You cannot use your InvestIN Forum Mentor’s name as a reference, nor give out their contact information, unless specifically given permission to do so.
3. The InvestIN Forum, its staff or any of its Mentors cannot be identified as endorsers of your product, service or company without their specific permission.
4. Any breach of these disclaimers will result in an immediate rejection of support and an ejection from the InvestIN Forum program.

Preparation

1. The Mentor has agreed to provide a limited number of hours of pro-bono support. This is an average of three, 90 minute sessions. This time will enable the Mentor to determine if he/she can be of service and in what specific areas. The period of pro-bono support is left up to the Mentor to determine.
2. Be open with your Mentor, he can only help if you are honest as to the status of your product/service and company.
3. Do not expect a Mentor to sign a Non Disclosure Agreement.
4. Prepare for your work session by gathering all of your documentation (business plan, executive summary, Power Point presentations, pro-forma balance sheet, etc.).
5. If possible, send this documentation to your Mentor in advance of your first session.
6. Be able to define the value of your product/service from three points of view: your customers, your alliance partners, your investors.
7. Prepare a list of items/questions in advance with regards to specific problems that you have been facing.
8. Identify specific areas where you feel that your Mentor can provide assistance, market intelligence, contacts, referrals, etc

The Meeting

1. Dress is business casual.
2. Be prompt for your meeting.
3. Be considerate. If you expect to be delayed due to traffic, call in advance.
4. Turn off your cell phone when you arrive at your meeting place and are ready to start your work session.
5. Thank the Mentor for his time.
6. Work to convince the Mentor of your company value. If committed, your Mentor can be a powerful ally.
7. It is important to answer any questions that the Mentor asks with short and specific responses.
8. Do not go into the technology or your “secret sauce.” Keep things at a high level for the first meeting or two.
9. Note that your Mentor however may not be able to work with you. There may be conflicts of interest or other reasons for his decline to move forward. If this is the case, the Mentor may provide you with a referral or tell you that he believes that your company is not fundable other than by friends and family or not at all.
10. You have the ability to decline your Mentor at any time, yet, it may be difficult to get a second Mentor. If you have a problem with your assigned mentor, please contact mentor@theinvestinforum.com.
11. Should you feel that you would like to move forward to a second meeting, tell your Mentor and ask for your next meeting
12. After the first meeting, you may want to have your business partners or advisors attend the work sessions. Ask your Mentor if this is acceptable.

Follow-on Meetings

1. Once both you and your Mentor agree to work together, prepare any of the action items and recommendations from the previous meeting.
2. Keep in contact with your Mentor between meetings and inform him/her of any changes.
3. Make sure that all action items are completed prior to the next meeting.
4. Your Mentor will help you understand what it will take to clean up your pitch and presentations. It is your job to actually write the presentations and business plans.
5. At the end of each session, reaffirm that you would like to continue the engagement and ask for your next meeting.
6. A Mentor will not work for free forever. Their time is valuable. Your Mentor will determine when your pro-bono sessions have been completed. It may be when a better understanding of your product offering has been accomplished, or when your value proposition has been clarified. There is no specific requirement.

Conclusion

1. At the end of your pro-bono working sessions, your Mentor may decide that he wishes to continue to support your company; as an investor, an advisor or as a consultant. There are also plenty of times when Mentors are invited to invest and join the executive team or Board of Directors.
2. Regardless of the conclusion, keep in touch with your Mentor and abreast of your activities and milestones.
3. Your Mentor’s contacts are valuable; ask for a referral in an area where you still need assistance.
4. When you have an investor conducting due diligence, your Mentor can be a precious resource. Ask for permission to use your Mentor’s name as a reference.
5. Please send an email to the Mentor Coordinator mentor@theinvestinforum.com to tell us that you have completed your session and the status of your relationship with your Mentor. We may wish to call you to get your personal feedback on your working sessions..

RULES of ENGAGEMENT for MENTORS

As Mentors you will provide your expertise and assistance in uncovering the entrepreneur’s value proposition. In many circumstances, they do not even really know what their value is. Or, they believe they have the next greatest “slicer/dicer/chopper.”

Entrepreneurs are people who have a hard time when someone tells them that their baby is ugly. However, it is your job to be honest and straight forward. A firm commitment to digging into the entrepreneur’s operations may require serious patience as well as a kind hand.

We need you to be direct with the entrepreneur, as they must be able to communicate their company and its products/services quickly and efficiently. If they are unable to get people excited, they will not exceed. This will be true of their end customers as well as investors.

Consider these rules as a guide when dealing with the entrepreneurs, it will make things easier for you in working with the InvestIN Forum Mentor program. We recommend that you also read the Rules of Engagement for the Entrepreneurs.

Important Reminders

1. You are not expected to sign a Non Disclosure Agreement, but we ask that you keep the entrepreneur’s information confidential.
2. You are expected to provide a limited number of hours of pro-bono support. This is an average of three, 90 minute sessions. This time will enable you to determine if the entrepreneur has something of value and if you can be of assistance and in which areas.
3. It is up o you to determine if this deal is an angel or venture fundable deal. While their deal may not be suitable for private equity investments, the entrepreneur may need guidance as to what kind of funding options may be useful or open to their type of operations.
4. The period of pro-bono support is left up to you to determine.
5. Listen to the entrepreneur and help guide him/her into defining the status of their product/service and company.
6. Get the entrepreneur to send to you all of their documentation and prepare for their work session with you. If they are prepared, it will be easier for you to determine where their greatest needs are.

The Meeting

1. Dress is business casual.
2. Be prompt for your meeting.
3. Be considerate. If you expect to be delayed due to traffic, call in advance.
4. Turn off your cell phone when you arrive at your meeting place and are ready to start your work session.
5. Thank the Entrepreneur for his time.
6. Make sure the entrepreneur understands the different kinds of pitches when defining the value of their product/service from three points of view: their customers, their alliance partners, to their investors.
7. Let them know if you are - or are not - interested in investing in their company.
8. Let them know if are willing to help them with their due diligence efforts.
9. Help the entrepreneur understand the essential components of their business plan and due diligence book that require reworking.
10. Specify areas where you feel that you can provide assistance, market intelligence, contacts, referrals, etc.
11. Ask as many questions as you can without requiring them to give up their “secret sauce.” Keep things at a high level for the first meeting or two.
12. You have the ability to decline your entrepreneur at any time due to any reason; lack of interest, a conflict of interest, etc. Explain to the entrepreneur that they will need another Mentor. Get back in touch with the InvestIN Forum Mentor Coordinator to let us know your thoughts.
13. If you think the entrepreneur is “not coachable,” do not continue with your sessions. Tell the entrepreneur that they will need to work on building their company and achieve some critical milestones prior to them getting any outside assistance. Again, contact the InvestIN Forum Mentor Coordinator mentor@theinvestinforum.com to let us know the status.
14. If you determine that you would like to continue working with the entrepreneur, do so.

Follow-on Meetings

1. Once both you and your entrepreneur agree to work together, make sure they understand that this is a short term commitment and that they are responsible for completing their action items.
2. It is your job to help the entrepreneur understand what it will take to clean up their pitch and presentations. It is their job to actually write the presentations and business plans.
3. At the end of each session, reaffirm that you would like to continue the engagement.

Conclusion

1. Tell the entrepreneur when you are at the end of your pro-bono working sessions.
2. You may decide to continue to support the entrepreneur but in a different capacity; as an investor, an advisor or as a consultant. Clearly define your interests.
3. Let the entrepreneur know if he may use your name as a reference. If not, be very clear.
4. Please send an email to the Mentor Coordinator at InvestIN Forum mentor@theinvestorforum.com to tell us that you have completed your session and the status of your relationship with the entrepreneur. We may wish to call you to get your personal feedback on your working sessions.