Entrepreneurs Boot Camp

1
Entrepreneurs Boot Camp

• High Potential Mentorship
• Advisory Boards

Bob Ruppenthal March 28, 2009
2
Guiding Principles

• Make money
• Have fun
• Work with people you trust

3
High Potential Mentorship

• A relationship
• Uncle, Teacher, Coach

4
High Potential Mentorship

• Value
• How to use a mentor
• How do you get one
• Whats in it for them
• What you can expect

5
Value of a mentor

• Experience
• Insight
• Perspective
• Traveled the road you are on
• Know what it takes to succeed
• Your champion
• Listen to what you want

6
How to take advantage of a mentor

• Meet regularly
• Come prepared
• Seek their council
• Value their knowledge
• Carefully consider their suggestions

7
How do you get one?

• List ideal qualities
• Identify candidates
• Acquaintances
• Prominent people
• Invite them to lunch
• Describe your business, plans, aspirations, goals

8
How do you get one?

• Pop the question when it feels right
• Would you be willing to meet from time to time
  and advise me regarding this business?

9
Whats in it for them?

• Take pleasure in sharing their knowledge

10
What you can expect

• Develop specific competencies
• Help you succeed more quickly
• Assign you homework
• Ask hard questions
• Push you beyond your comfort zone
• Always challenging
• Not always friendly
• Help make your dreams come true

11
Advisory Board

• Board makeup
• Functions
• Its your board
• Meetings

12
Board makeup

• Experienced senior executives
• Genuine interest in your business
• Aim high
• People you admire
• Good listeners
• Understand your business
• Keep it small - 2-3 advisors

13
Functions

• Sounding board
• Source of ideas
• Keep you honest
• Focus on the big picture
• not day-to-day
• Identify what is missing
• Connect you to knowledge resources

14
Its your board

• Meet regularly - quarterly
• Keep them informed and up-to-date
• Reward your board - honorariums
• Allow your board to manage you
• Relationship of trust
• Theyre on your side
• Want you to succeed
• They serve at your pleasure

15
Board meeting structure

• Have an agenda
• Distribute in advance
• Provide supporting materials
• Present your problem
• Pose your solution
• Ask for feedback
• Be open and honest
• Be prepared
• Serve lunch

16
Questions Discussion

• Bob Ruppenthal
• President
• RTEmd
• 585.383.1290 X135
• Bob.ruppenthal_at_rtemd.com