Framework curated by Natalie McMullin, Communications Manager at MindFrame Connect
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Through our extensive research on the topic of mentorship, we have compiled both the ‘Principles of Mentorship’ and the ‘Principles of Menteeship’ to best guide entrepreneurs on their journey. As part of the program’s asynchronous content offerings on the platform, we’re turning to our trusted advisors to speak on a variety of topics in a continued video content series, which includes today’s video from Nagar Rahmani, Partner at Maverix Private Equity. Having worked with thousands of mentors and mentees over the span of her career, we asked Rahmani to share her ‘top three’ picks for principles that have helped guide her journey as an established, and successful investor.

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Principle One: Follow-up Effectively

A simple concept in nature, but rarely done properly by mentees is the concept of following-up effectively. The reasons for not following-up can vary, such as not realizing the importance of the second touchpoint, or the internal struggle of feeling you may be harassing or annoying to the individual – but whatever the case, it is a simple, yet highly effective action that will further your goals.

I.e., fundraising capital for your business. You’ve met with an investor, and they seem to be the right fit – but what now? Rahmani recommends that you continue to stay engaged and share updates, such as a quarterly update on the growth and progress of the business, and/or celebrated milestones when hitting targets in fundraising.

You want to ensure that there is a value exchange with individuals you are looking to engage, whether it be for fundraising, a mentorship ask or other needs. Continue to build the relationship and stay top of mind – because ultimately, you will receive a no, or continue to build and establish a working relationship that helps you on your journey.

“Completing a deal requires persistent content that is never annoying but can't be politely ignored.”
– George Deeb, 2017. The Art of the Follow-up. Entrepreneur.com

Principle Two: You Need to Ask

Directly correlated with the aforementioned principle is the idea that you need to ask. While yes, it is important to ensure you’re keeping prospects in the loop and following-up effectively, a larger part of this continued communication is being upfront with individuals about what it is you’re asking for. Examples of upfront, direct asks include:

• Can you please facilitate and introduction to x, y, or z?
• We’d be thrilled to partner with you on this initiative – would this be of interest?
• We’re currently piloting our new products and would like to make you a customer – is this something your team would be open to?

The good news? By asking questions, we naturally improve our emotional intelligence, which in turn makes us better questioners—a virtuous cycle.

On the subject, Rahmani recommends that you remain persistent and direct – which can often be difficult for mentees or individuals in the ‘asking’ position. She warns that if you aren’t putting out the asks and being direct, you’ll be stuck in the continued meeting cycle and unfortunately, nothing will come to fruition.

Principle Three: Take Advice with a Grain of Salt

As you enter your mentor-mentee relationship, one thing you should always keep in mind is the idea that these are almost always balanced, 50:50 relationships – and they should never be perceived as one-sided. As a mentee receiving advice, be sure to always keep an open mind and understand that while your mentor brings a breadth of knowledge and experience to the relationship – you should take their advice with a grain of salt.

At the end of the day, no one will ever fully understand your daily life as an entrepreneur and the challenges faced by you and your team, and you can always break down the advice you’ve received to determine if it’s the right fit for you.

• I.e., Katie Caprino, Senior Contributor at Forbes Magazine describes how over her 30-year career, she predicts that almost 75% of the advice she received was dead wrong for her – heading in a direction that either would fail miserably or make her unhappy in the success of it. With this in mind, Caprino breaks down the 5 Ways To Tell If The Advice You’ve Received Is Wrong which serves as a lighthearted guide on the topic.

To conclude, while these principles may seem simple in concept – they require practice, diligence, and finesse – and at the end of the day, you are working towards creating a value exchange with the individuals you engage, ultimately contributing to the reputation and success of your team, investors, and business.
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Resources

The Art of Follow-up. Entrepreneur.com (Link)

The Surprising Art of Questions. Harvard Business Review (Link)

5 Ways to Tell if the Advice You’ve Received is Wrong. Forbes.com (Link)

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