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



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



Note:It is assumed that you have already interviewed other prospective mentors and this is your final selection.

Part TWOPreparing for the Meeting



Your Agenda

Compile a list of talking points which should include:



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



Your Agenda

Explanation of why you need a Mentor

The Role of the Mentor as you envisage it

Anticipated mentorship duration Anticipated outcomes



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



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



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



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



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



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



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



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



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?



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.



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



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.



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

http://www.tonypaullconsulting.com/how-to-be-mentored/

http://www.amazon.com/dp/B013ZOGLKA

Tony Paull Consulting

Supporting Home and Small Businesses

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how to impress at your first meeting with your small business mentor

Small Business & Entrepreneurship