Entrepreneur’s Organization (EO) / World Presidents Organization (WPO)

Program Overview

The mentorship program was started in Northern California in the early 1990s and has since spread to many other areas. Members of EO were looking for assistance in building their companies at the same time many WPOers were winding down their own careers and had the time and willingness to help.

The purpose of this overview is to give all parties an understanding of the process and a few guidelines to help make the program as effective as possible. No two mentorships are alike. Each is as unique as the parties involved but based on comments of many individuals we set forth some ideas on which to base your own unique program.

Mentor - A member of WPO who is willing to devote some of his/her time to help a younger entrepreneur with advice and counsel.

EOer - A member of EO who is building a business and feels that he/she (we will use he from now on to save the author's wrist) could benefit from mentoring by a WPO member who has already built, and perhaps sold, one or more business enterprises.

The Process - The EO and WPO chapters have designated liaison members who combine to match mentors and EOers. EOers who want a mentor complete an application giving background information about themselves and their companies. The liaison members review the applications and the WPO liaison tries to find a WPO mentor.

When a match is found the liaison will arrange an introduction in the form of an initial meeting between the two parties. At this meeting they become acquainted and determine if they want to proceed. They can also decide, at least preliminarily, on the format of their relationship.

There is no. right or wrong method. Some relationships are structured with regular meetings set in advance. Others are unstructured and meetings take place when there is an issue to discuss. Some meet monthly, others quarterly, still others on an ad hoc basis. Sometimes a review the periodic financial statements of the EOer are the catalyst for the meeting date and subject. In other cases financials are not part of the discussion.

The most important ingredient for success seems to be the chemistry that exists or is developed between the mentor and EOer. It is also important that each feels that the time spent is worthwhile. A candid discussion about this could be an important communication device.

Expectations - It is important that both the mentor and EOers have realistic expectations. The WPOer needs to realize that the business may be quite small compared to his own and needs to recall that this was probably the case when he started his own business.

The EOer needs to realize that this mentorship is just one small ingredient in his success. The mentor cannot run his business nor solve all the problems that will come up. He can on the other hand be a good sounding board for ideas and help the EOer avoid some of the problems that often come up while building a business.

The EOer should also realize that the mentor is giving his time and advice without. compensation. It is up to the EOer in most cases to initiate calls, present issues and set meetings. It is expected in most cases that the EOer will be the one to travel when there is some distance involved. With both parties having realistic expectations and candid dialog the process should be enjoyable and productive.

Confidentiality – This is just as important in the mentorship relationship as it is in Forum.  Both parties need the assurance that their discussions re confidential and will not be revealed to anyone without the permission of the other party

Goals and Responsibilities

Goals

1. Provide a mechanism for EO members to obtain a mentoring relationship with appropriate WPO members.

2. Provide WPO members with an opportunity to build a relationship with young entrepreneurs and to provide guidance to entrepreneurs in managing the operation and growth of their businesses.

Responsibilities

EOer:      

1. Take the initiative to contact Mentor and schedule meetings.

2. Come to meetings prepared.

3. Follow through on commitments and decisions made.

WPOer:

1. Make time available to meet with EOer and provide feedback and advice.

EO Liaison:

1. Accepts and reviews applications from EOer and forwards to WPO Liaison.

2. Arranges introduction of mentor and EOer in coordination with WPO Liaison

3. Follows up to determine satisfaction level of EOer

4. Monitor mentor and EOer relationship and make suggestions and changes as needed in coordination with WPO Liaison

WPO Liaison:

1. Reviews applications and identifies potential mentors.

2. Contacts potential mentors and selects interested mentor.

3. Arranges introduction of mentor and EOer in coordination with EO Liaison

4. Follows up to determine satisfaction level of mentor.

5. Monitor mentor and EOer relationship and make suggestions and changes as needed in coordination with EO Liaison.