HOW TO BECOME AN ENTERPRISE IRELAND BUSINESS MENTOR

Transcription

1 HOW TO BECOME AN ENTERPRISE IRELAND BUSINESS MENTOR HELPING BUSINESSES BENEFIT FROM YOUR EXPERIENCE #GlobalAmbition

2 Enterprise Ireland s mission is to help Irish companies achieve global success. The Mentor Network programme helps them to grow faster and survive longer. We do this by matching new, early stage and established business owners with experienced business mentors. EI mentors are seasoned entrepreneurs and senior executives who have experienced the kind of challenges - and opportunities that our client companies face. What kind of advice do clients look for? a Commercialisation of new products and services a More targeted sales and marketing Advice and support tailored to their needs We have a panel of over 400 highly experienced, independent business people, entrepreneurs and founders with international commercial business development experience. Each has agreed to work with EI client companies, offering practical advice and guidance based on their own business experience, on a one to one basis. Our mentors do not act as consultants. They are a confidential sounding board helping business owners develop skills and overcome barriers to growth. As a mentor, you won t do the work for them but you will help establish where they want to go, and help them plot the best course to get there. a Expansion into new markets a Strategic business planning a Becoming investor ready and exploring funding options a Improved R & D, design, innovation, production and logistics a Better HR management a Management succession

3 Business mentors can help by a listening and constructively challenging companies to consider a range of options and prioritise opportunities a providing an independent, objective perspective on their business growth a helping them focus on key issues and development opportunities 88% of EI clients continue to be in contact with their mentor after the programme 94% felt their mentor was well or very well matched 96% were satisfied with the Mentor Network service 73% felt their company had grown because of their mentor s intervention

4 How does it work? New mentors are recruited to the programme throughout the year. We start by looking at gaps on our mentor panel. We then assess the depth of a potential mentor s experience in starting and scaling a business internationally. We consider their experience in light of the requests for help we get from our clients, and the sectors they are in. The mentor team reviews all CVs against these criteria on a weekly basis. If successful, you will be asked to complete a detailed profile form and attend our monthly mentor recruitment day. Clients are asked to think about which aspect of their business they need help with and what experience and skills they would like their mentor to have. They discuss this with their EI Development Advisor (DA) and apply for a mentor through our website. If their application is approved, the company gets a shortlist of possible mentors and chooses one. The chosen mentor is asked to consider the client s request and if they are willing and available to take it on. They are then appointed to the assignment. An initial telephone call is usually enough to ensure a good personal fit : it s important that both sides respect, trust and feel they can work with one another. Where a client has varying requirements they are keen to address, for example, a sales related issue plus a finance one, more than one mentor may be assigned to them consecutively. Once you and the company are happy to proceed, the objectives and goals are agreed. You will meet with the company 3, 5, or 10 times over 3, 6 or 12 months, depending on their business s needs, and you will give us a first report, interim reports and a final report. We will contact the company at the end of the assignment to get their feedback. The Mentor Network is open to eligible Enterprise Ireland client companies employing between 10 and 249 people, and high potential start-ups, as well as clients of Government funded sister agencies, such as Local Enterprise Offices, IDA Ireland and Udaras. Companies can apply online for a standalone mentor grant or can be offered a mentor through their participation in various EI entrepreneur development programmes and combined funding offers, such as Competitive Start Fund.

5 How much does it cost? Enterprise Ireland provides grant support 1 to clients towards the cost of a mentor for up to 10 sessions (to a total of 1,750). We pay mentors directly a per diem or honorarium of 175 per visit, on behalf of the company, to secure their commitment and we reimburse mentors for expenses such as local mileage. While there is no direct cost to the company, to secure their commitment to the programme, we will ask the company to travel to the mentor s location for some of the sessions or meet half-way if there is some distance between client and mentor. Other types of mentoring - practice pitching sessions In addition to one-to-one mentor support, companies can take part in specially convened, half day mentor panel sessions, giving them the opportunity to get feedback on the commercial viability of their investment proposal, business plans, sales and export strategies. Mentor panels offer a serious infusion of expertise, providing clients with valuable feedback and advice, enabling them to test their proposition in a trusted environment. 1 Mentoring is subject to De Minimis Aid (EU Regulation 1998/2006), which may allow an enterprise to receive up to 200,000 De Minimis Aid over any period of three years. FAQs What is a mentor? What is the objective of the EI Mentor Network? An experienced senior executive, entrepreneur or founder who volunteers to share with clients the knowledge they have gained based on their own international business experience. To provide a mentoring service which meets the business development needs of clients at various stages of their development - from start-up to maturity. What is a mentor s role? Do mentors act as consultants e.g. manage the implementation of agreed strategies? How are companies referred to the Mentor Network? The mentor listens to clients and challenges them to consider alternatives in the development of their business. Through this process clients are helped to focus on the key issues and a range of solutions. Throughout the process the mentor remains constructive and shares the knowledge, which they have gained from past success and failure. No. While mentoring helps clients to identify a range of options to pursue and pitfalls to avoid, it remains the client s responsibility to choose the option and to implement the plans. Executives of Enterprise Ireland, Local Enterprise Offices, IDA Ireland or Udaras make this referral. In Enterprise Ireland these executives are referred to as Development Advisors (DAs). The Mentor Network is one of the specialist services which the DA can call upon to help their clients. What is the relationship between the mentor and the DA? The mentor has been assigned at the request of the DA. The mentor s role is to support the work of the DA. Mentors are encouraged to contact the DA at the start of the assignment. What is the role of the mentor coordinator? The four coordinators help EI to recruit and assist the mentor panel within their region or sector, and they match mentors and are the point of contact for each assignment. The coordinator presents the client with a list of at least three bestfit mentors and the client makes the final choice.

6 FAQs Who should I talk to before meeting a client for the first time? Who decides the priorities for the assignment? Who does the mentor work with? The coordinator will brief you on the company and its needs and you are encouraged to speak with the relevant DA too if possible. The briefing document, which you receive when asked to consider taking on an assignment, should be the basis for your discussion with the coordinator and the DA. Assignments are preferably with the CEO who may include members of the senior management team for some of the sessions. Who arranges the initial meeting? The mentor contacts the client to arrange the first meeting. Normally, at the end of each meeting a date for the next meeting is agreed. What should I do if I find I am not suited to the assignment or if I feel my role is completed in a shorter timeframe / fewer visits? How long do meetings last? Should meetings have an agenda? How frequently should meetings take place? Contact your co-ordinator who will liaise with the client and EI to either change mentor or close out the assignment. A typical visit is between one three hours (one visit per day). It s up to you, however the topics discussed should follow a logical pattern reflecting the overall agreed objectives and priorities for the assignment. Initially, there may be a number of meetings close together at the start of the assignment, followed by a gap to allow the client to action the agreed objectives. Generally, gaps of longer than two months should be avoided. Ideally, a 10-visit assignment should be completed within 12 months. Mentor reports and client feedback Mentors provide regular progress reports to Enterprise Ireland (first, interim and final reports). We seek the client s feedback on the programme at the end of the assignment. It is useful to capture what was discussed and what actions are to be taken by the client before the next meeting in these reports. What should I do if I have difficulty arranging meetings with a client, or a client cancels meetings at short notice? What additional services does the programme offer? Contact your coordinator. If clients are not committed to the programme, their assignment will be put on hold or terminated. In some instances Enterprise Ireland can facilitate a deep dive business session with two or three mentors and one client company. This is typically a half day set aside to explore and plan certain elements of a business strategy. If at the end of an assignment the client needs further assistance what can I do? Reflect this in your final report and talk to the DA and / or coordinator.

7 FAQs Where can the meetings take place? Does a mentor have a role in securing Enterprise Ireland grant support for a client? How do I keep in touch with the Mentor Network? Am I insured as a Mentor? Meetings can be held at a venue suited to both parties. In Enterprise Ireland s view, face-to-face mentoring is best, but if there is a considerable distance between you and the company, some of the meetings can be carried out by Skype, but these should be agreed with your coordinator and client at the start. No. While clients sometimes raise funding issues with their mentor, you should advise the client to get in touch with the DA. Through your reports which are submitted online, regular contact with your coordinator and other members of the mentor team. Join our (closed) LinkedIn group for mentors and come along to our bi-annual Mentor Networking events which take place in Dublin and across the regions too. You are indemnified by Enterprise Ireland s Professional Indemnity Insurance while acting as a mentor on an approved assignment. What is the position if the client offers me another role in addition to my role as mentor? Is mentoring a confidential service? Is training provided? How many assignments can I have? To protect the integrity of the programme you must not enter into any commercial arrangements with the company while acting as their mentor or undertake any additional role as you will not be insured if you do. If you are planning to change your role within the company please let your mentor coordinator know so that the assignment can be put on hold or cancelled. Yes. On joining the panel a confidentiality agreement is signed by you and returned to EI. Mentors must avoid any disclosure which has not been authorised by the company. A guide on EI s mentoring best practice approach is shared with new mentors when they join the programme and we run regular mentoring best practice masterclasses for mentors. You cannot have any more than five assignments at any time. How long will I remain on the panel? Mentors are asked to serve on the panel for 3 5 years. Note: Reports and claims are submitted by mentors to EI through our online management system. EI require tax clearance certs if payments exceed 6,500 in any 12 month period. Professional Services Withholding Tax (PSWT) is deducted on payments made directly to mentors by EI. Vat at 23% is charged on mentoring services provided by mentors who are registered for VAT. See for further details. Enterprise Ireland undertakes to treat as confidential any information provided to it in confidence by Mentors, subject to Enterprise Ireland s obligations under law, including the Freedom of Information Acts 1997 and Enterprise Ireland will consult with you before making any decision on any Freedom of Information request received involving sensitive information, which you may have supplied. Where Enterprise Ireland is considering the release of information in the public interest, you will have a right of appeal.

8 What our clients say My mentor has changed the entire outlook of my business. We are on a longterm relationship towards the business success. INFOMAXIS LIMITED Mentor really helped us find and focus on a new, high value area of business Irish Equine Centre Mentor has been instrumental in helping me understand the future strategy for my business. Prior to this we were struggling to see the bigger picture, now it s very clear Neptune Showers Our mentor s knowledge around our industry was extensive. That helped immensely when carrying out our strategic planning to help us understand the entry requirements of each strategic element Automatic Plastics Ltd Helped us massively in understanding the potential markets that we need to focus on Burke Joinery Showed me where I m losing money, helped with the decision on product promotion and how to get my product line out there Rosaleen s Kitchen Enterprise Ireland s Mentor Network panel is open to applications all year round. To find out more see or contact the mentor team. Mentor Network Contact Details Tel: / 2441 / 2764 / Mentor@enterprise-ireland.com Web: #GlobalAmbition