I just coached a CEO, for free, and then offered to coach her again, still for free, even though I usually charge, a lot, for that. Founders, here's how you too can get free coaching / advising / mentorship from experts:
1) Be brief.
When first meeting with a mentor, don't give the entire chronological story of how you came up with the idea, how you launched and every time you've pivoted. I know that's interesting to you, but it's probably not relevant to the conversation.
Start with the elevator pitch -- here's our market, their problem, the impact of the problem and how we solve it at a very high level -- and then list relevant traction and list what you want help thinking through. Let the other person ask clarifying questions.
2) Be thoughtful.
Don't show up asking questions you can answer with a Google search. That's a waste of the other person's time, and they likely won't offer it again.
Ask advisors and mentors to help you think through complex issues. Leverage their experience and ask them to walk you through how they would make a decision. Find out the pros and cons of each option.
3) Be relentlessly optimistic.
Starting and growing a company is harrrrd. But please don't ask people to help you manage your emotions unless they're either close friends or getting paid.
Further, people want to align themselves with success. Even if your company only has a month of runway, make the expert *believe* that you're going to make it.
4) Be gracious.
During the conversation, get excited when you learn something new or useful. The expert is using their scarcest resource (time) exclusively for your benefit. Let them know they're succeeding.
At the end of the meeting, offer something, anything in return. This CEO offered to buy me lunch or a gift card at the place we met. I'm always going to defer, but man does it feel nice.
BONUS: Be proactive.
Within a few days of meeting, find one thing that they suggested and act on it. It can be anything at all, no matter how small. Send an email that says, "thank you so much for your advice; I've already done X and I'll let you know how it works out."
Now the investor knows you'll take action based on their feedback AND they're emotionally invested in the outcome of your business. They want that feedback to succeed. And they'll probably help you again to increase those odds.
Experts generally have far more opportunities to be helpful than they have time to give help. By showing up as the best, most excited and thankful founder they've ever met, they'll prioritize you over other options time and time again.
#founders #startups #feedback