From Chapter 5: First Meeting with a VC

A famous Harvard Business Review article published in 1979 reported that mentored executives earned more money at a younger age, were better educated, were more likely to follow initial career goals, and had higher career satisfaction. This isn't all that surprising—experienced practitioners transferring wisdom is bound to do something!

I can't overstate the importance of mentors in my life. They have provided invaluable fellowship both personally and professionally. Personally, I have turned to wise adults on life matters—trying to make sense of my place in the world. Professionally, my mentors breathed gently on flickering embers, nurturing a wannabe entrepreneur from raw passion to smart focus. What’s important in developing effective mentoring relationships?

• Good people. When I founded Comcate I made several visits to the Small Business Administration (SBA) of San Francisco, which provides free business coaches through its SCORE association (Service Corps of Retired Executives). These men and women have done and seen it all before—and their advice and guidance can be invaluable. And did I mention that they are free? Before your network is established, start easy and free! Over time, as you meet more people, don't be shy. The words, "I'm looking for mentors" is often enough. But be sure you've done loads of background research on the person. Know what makes them tick before initiating a relationship.


• Mentors versus advisors. There's a difference. My "advisors" tend to consult exclusively on professional-career issues whereas my "mentors" veer into personal issues. My advisors have domain expertise in an area particularly relevant to Comcate (local government or software development). The mentors I know are all over the map—entrepreneurs, teachers, poets, you name it. I think it's important to have people in both camps.


• A two-way street. The reasons mentors like to mentor is because they derive a return, too. Talk to schoolteachers and they will tell you their students teach them as much as they teach the students, and that they enjoy imparting their knowledge and watching it grow. The person on the receiving end of the mentoring relationship should work hard to ensure it's not totally a one-way street.


• Diversity. People are helpful in different ways. There are some mentors in my life who I trust particularly on issues of emotion and spirit. Others are more hardheaded analyzers who help me digest complex situations. Each brings a unique perspective to our relationship, and I have learned valuable lessons from all of them. Maintain an eclectic group of mentors to help you take on the range of issues life throws at you.