SITUATION

TiE SoCal hired Mentor Matchmaker to create a mentorship program that supports participants in varied fields and levels of entrepreneurship and appeals to busy mentors. Fifteen mentees were paired with experienced Charter Members to accomplish their own unique goals. Mentees were new entrepreneurs or full-time employees eager to become entrepreneurs. Charter Members have a track record of success building, managing, and exiting companies.

RESULTS

One participant successfully launched a biogas engineering firm because of specific guidance from his mentor. All mentees received candid insight and feedback to clarify ambiguities, boost courage, and make progress. Two participants joined TiE SoCal to participate in the program. Several participants presented their experience at the annual TiE SoCal conference.

SYSTEM 

MM’s unique methodology included a situation analysis, defined focus, program scope, timeline, evangelist, clear value proposition for participation, recruitment tactics, kickoff event, pre-defined mentee goals, guidebooks, and discussion guides. MM recruited and managed the participants, ensured accountability, and oversaw goal accomplishment. 

Program setup took six weeks, including participant interviews and on-boarding conference call. Each pair met once per month, for one hour, for three consecutive months. Deadlines were assigned and mentees checked-in with MM via individual postmortem phone calls after each meeting. MM also provided additional guidance to the mentees on their goals.

RECRUITMENT

Mentors were recruited through an email blast written by MM and sent from the TiE SoCal President. Twenty two out of thirty prospects confirmed participation within 48 hours. Mentees were informed about the program via newsletter and applied for access via online submission forms describing their goals. All applicants were vetted by MM via interview.

MENTEE GOALS

Mentees defined three unique 60-day goals in their program application. MM worked with applicants to refine their goals prior to meeting their Mentor. Most goals were edited to be more specific, realistic, actionable, and attainable. For example:

1. Draft a marketing “one-sheet” describing my service offerings.

2. Cold call 20 people in my network to promote my firm and follow up with a new brochure.

3. Write the “user stories” for my new software product and review with a potential CTO.

4. Draft a business plan or strategic plan.

5. Fill the top of my sales funnel with 10 leads from the legal industry. Draft a sales deck and present in-person to 5 prospects next month.

GUIDEBOOKS

Participants received a guidebook to answer frequently asked questions and reinforce the Mentor’s time was to be taken seriously. Guidebooks contained information about roles, responsibilities, how to initiate communication and how to extract the maximum value from the relationship. Mentees also received worksheets to guide conversations at meetings.

ABOUT TiE

The Indus Entrepreneurs is a global community of 15,000 members in 61 chapters who believe in the power of ideas to change the face of entrepreneurship and grow business. TiE has five pillars: mentoring, networking, education, incubating and funding. 

TESTIMONIALS

“I found this TiE mentor-mentee program profoundly amazing and a must for any aspiring entrepreneur. I Received plenty of practical tips & tricks of doing business from my mentor Venuji, a very well-established businessman. Thanks much for giving me this golden opportunity to participate in this program” — Jeet, Mentee

“We are in our 3rd year with Mentor Matchmaker. Because of the program, we’ve seen new businesses formed, ideas turned into action, and revenue generated. As the President of a busy 300-member organization, I feel confident that the program gets done without my oversight.” – Smita Bagla, 2018-2019 President of TiE SoCal