Bridgeway Mentoring & Coaching Program
standards & rules
One part of accelerator’s program is mentoring, as it is one of the best ways to scale up startups, create strong leaders for their company in making, and even keep turnover costs in check.
A mentoring program is structured around three factors: people, metrics and accelerator program.
Learning and development programs are as varied as companies themselves, but there’s one feature that encompasses most of the effective talent management strategies - sharing applied knowledge and experience on specific subjects.
Programs are highly personalized
Highly structured, one-size-fits-all learning programs aren’t effective for the simple reason that they don’t work for everyone. Mentoring works because it can be personalized and customized for what an individual needs. A mentor plays an important role in entrepreneurial development of an individual. He guides entrepreneurs from conception of business to product development or business growth.
Entrepreneur is bearer of uncertainty and risk taker. When the novel market is created, it would be on uncertain situation in terms of customer satisfaction and added value. The entrepreneur is the one who takes risk and bears all impacts of creating new venture.
Successful entrepreneur is someone who is high-orientated achiever, takes initiative, and shows high degree of proactivity.
“If I have seen further it is by standing on the shoulders of giants.” — Isaac Newton
Mentors are experts in the fields of vertical, skill, network or support stamina. They work with the companies pro bono, without expectation of reward or compensation, will share of their knowledge and guidance freely, and will open their networks when appropriate.
“We make a living by what we get, we make a life by what we give.” — Winston Churchill
Bridgeway Accelerator Program has five different mentoring models: one-on-one mentoring, team mentoring, multiple mentoring, peer mentoring, and distance mentoring.
Mentoring allows founders and mentors to engage in learning and development at a time that works during their schedule; this is especially valuable during times when the workload is heavy. It makes learning readily accessible and minimizes stress by giving founders and mentors the freedom to set up regular meetings whenever they choose.
A crucial first step is setting the individual program objectives. Program managers identify the needs of founders and startups to determine the goals of the individualized program. Through a needs assessment, program developers identify skills gaps or organizational weaknesses that the mentoring program should address.
Metrics follow, and plans for monitoring the progress and evaluating the success of the mentoring program are developed before the program launch to ensure effective assessments. Additionally, expectations are set around program structure, duration, and type of mentoring so that participants are aware of what the experience will look like and what they are expected to achieve in the set timeframe.
Identifying and matching mentee’s needs with mentor skills are incredibly important. The matching process should be one that suits the company's needs as well as culture.
After program launch – and for the duration of a mentorship program – the most important factor is communication. Participants are informed at all stages, from the needs assessment to the conclusion. They have a way to monitor progress and a mechanism for providing constructive feedback on the program. Transparency is crucial to get the buy-in and commitment of all involved.
Matching Mentors and Mentees
Bridgeway Accelrator Progam 42 carefully plans a mentoring program in order to facilitate successful matches between mentors and mentees.
Matching can be done in one of two ways: self-matching or program chosen matching.
After identifying all your needs program manager will make arrangements for first mentor – mentee session. After receiving feedback program manager will contact both mentors and mentees in order to further personalize the program for the founders.
Phases of Mentoring
Engagement phase – after program manager matches founders and mentors, they informally enter into a mentoring relationship. The relationship is not formal as the mentor and mentee choose to initiate relation on their own, and there is no third party between the mentor and mentee to dictate the relationship. At this stage, both mentor and mentee discuss and clarify their common goals and shared values.
Active phase – mentor-mentee relationship has three core-attributes: reciprocity, developmental benefits, and regular/consistent interaction over period.
Redefinition – Once the mentor sessions related to the program has been concluded mentors and mentees can form further formal or less formal arrangements. Mentors and mentees can create a contract for their relationship. The contract outlines entrepreneurial and social goals along with a legal contract, which may include equity in the mentees’ business or other monetary terms. The pair may assess their progress, success, and failures after agreed time period and reaffirm or redesign their goals.
“Our chief want in life is somebody who will make us do what we can.” — Ralph Waldo Emerson
All parties, including Bridgeway Accelerator 42 Staff, Advisors and Mentors shall maintain strict confidentiality over any proprietary information entrusted to them by founders.
All information and advice generated or received in connection with mentoring activities is presumed to be confidential and should be treated as such.
Founder alone determines whether to make a disclosure of confidential information.
Conflict of Interest
Mentors must disclose any potential known secondary conflict of interest where success or failure of the Founder which he/she assists or oversees would potentially have a material impact.
Entrepreneurs are responsible for providing accurate information regarding their venture, and for identifying any current or potential claims on, or liabilities of, their business.
Register as Bridgeway Accelerator Mentor