mentor monday 8_20.12
TRANSCRIPT
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Mentor Mondays3rd Monday Monthly
Dave Parker - @DaveParkerSEA
#mentormondays
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Agenda:Noon: Lunch
12:15 Talk
12:30 Q&A
12:45 1:1 Mtgs
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Finding a Mentor
Avoiding the Leeches
Dave Parker - @DaveParkerSEA
#SEFI
@Founding
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Agenda
About Dave
Startup Ecosystem
What to look for in a mentor? Avoiding the Leeches
Timing and Stages
Aligning Goals / FAST Agreements
About FI.co
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About Dave
Dave Parker
Director, Seattle Founder Institute
CEO & Co-Founder Bundled.com
Co-Founder OneAccord Partners
Board Member Guidant Financial
Former Board Member
Classmates.com
Founder Institute
15 week program pre revenue,
pre-product, pre-idea stage
Ideation to fundraising
Office hours/individual coaching
Tuesday night dinners
Costs
$50 Application Fee WAIVED $995 Course Fee
3.5% into shared pool
$4,500 tuition after funding
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Mentors (Past/Current)
Andy Liu Bryan Mistele
Dan Schapiro
Charles Mount
Rebecca Lovell
Dave Bluhm
Matt Shobe
Brian Schultz Todd Hooper
Charles Kwon
T.A. McCann
Chris Devore
Joel Espelien
Keith Smith
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The Startup Echo System
Supportive
Sponsors
Law Firms, Accounting,
Banking, etc = free drinks
Groups NWEN,
Programs
FI, TechStars, University
Resources SeattleTechCalendar
Media
GeekWire
Leeches
Never Sponsors
Come to sell you stuff at
events but never sponsor
Wantepreneurs Read the books, speak the
language never done it
Startup Groupies
Want the upside but no risk
Youll end up paying them out
of your savings
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Fundraisers & Introducers
Not Bankers, but helpers
help make introductions
Have a big network of
investors NEVER invest themselves
BUT want a % of the deal,
equity and retainers
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What to Look for in a Mentor
Been there/done that
Experience not theory
Has been where you want to go
Industry Experience
B2B or B2C, Vertical Market, go-to-market
Experience you dont have
Building a team
Scaling a product
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Using a Mentor
Set a regular time
Buy lunch of coffee
Communicate between meeting
two week updates
Be specific with your questions
Send an agenda in advance, General questions take a lot of
time
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Timing and Mentors
Idea Stage
Brainstorming, innovation
Product Stage
UI/UX, knows your target customer
Go to Market
Sales, marketing and Business development, channel
Traction
Operations, HR,
Funding
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Aligning Goals
Set aside a small % of the company for Advisors
Set expectations
Align incentives Dont Abuse Mentors
Some will say No
http://fi.co/contents/fast
Kevin Rose video http://fi.co/posts/665
http://fi.co/contents/fasthttp://fi.co/posts/665http://fi.co/posts/665http://fi.co/contents/fast -
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Thank You!
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http://fi.co/join/mentor
15 Week Program with Local and SV Mentors
Ideation to fundraising
Office hours/Individual coaching Monday night meals
Costs
$50 Application Fee/Test Waived! $995 Course Fee
3.5% of company into shared pool (peers, mentors and FI)
Post funding tuition - $4,500
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Dave Parker
@DaveParkerSEAForestTreesBark.com
Information Session Aug 28th
Early Admissions Deadline Sept 2nd
Ideations Bootcamp Sept 6th
Information Session Sept 12
Founder Night Out Sept 18th
Final Deadline Sept 23rd
Session Starts Oct 2nd