Successful Mentoring Relationships

When Phil Morabito needed advice on how to grow his Houston-based public relations firm, he did something a little unusual: he consulted the "bug guy."

"Bill Spitz owned the largest pest control company in the state of Texas before he sold it to Waste Management Inc.," says Morabito, CEO of Pierpont Communications. "I met him through the Silver Fox Advisors, a group of retired executives who offer mentorship. He was a real successful guy and I was a small business owner who needed guidance."

Morabito says at first he wasn’t sure the relationship would be a fit. "I thought, what is a guy who solves cockroach problems going to know about what I do?" he recalls "But it’s all about customer service -- no matter what industry you’re in – and I needed to do a better job of that."

Spitz met with Morabito each Wednesday for five years, and Morabito says the relationship resulted in his company experiencing rapid growth and success. Today, Pierpont Communications is one of the largest PR firms in the Southwest.

"I strongly believe every entrepreneur needs a mentor, but it has to be the right fit," says Morabito. "Bill gave me great advice, I still call him today when I need help."

Dr. Sharon Straus, division director of geriatric medicine at the University of Toronto, says having a personal connection, like the one Morabito and Spitz shared, is necessary for a successful mentoring relationship. She recently studied mentors and mentees at the University of California San Francisco School of Medicine and the University of Toronto Faculty of Medicine.

"The personal connection is what we often describe as having 'chemistry,'" she says. "Participants [in the study] stated that if they didn't feel this connection, they weren't comfortable discussing things with their mentor -- and this is crucial to the success of the relationship."

Related: 5 Mentors Every Entrepreneur Should Have

In addition to having a personal connection, Straus identified four other key ingredients small business owners should look for when seeking a mentor:

1. Clear Expectations. The initial meeting should include a discussion of goals and responsibilities, says Straus, including things such as time commitments, accountability and intellectual property.

"Bill always made me identify and address my goals," says Morabito. "He would give me homework assignments and I was always sure I had the answers."

2. Mutual Respect. Straus says mentors and mentees need to respect each other's time, effort and qualifications.

"For example, if the mentee doesn't respect the mentor's time or advice, the mentor may disengage," she says. "Good mentors were said to be honest, trustworthy and active listeners."

Morabito says Spitz’s respectful approach helped him glean more from the relationship: "He’s not ‘in your face.’ It was refreshing to get advice from somebody who wasn’t trying to lecture. He’s subtle in a purposeful way and I admire that."

3. Reciprocity. Straus says mentoring should be bi-directional and include strategies that make the relationship mutually rewarding. Morabito says at times he offered Spitz marketing advice for his consulting business.

4. Shared Values. Straus says mentors and mentees should share interests and values, which will establish a common ground. Morabito agrees, and says Spitz has a lot of qualities he admires and aspires to emulate.

"Bill is a family man and a community person," he says. "I am the father of four, I’m on 10 local boards and I do a lot for charities. I’ve always wanted to be like Bill -- I still do -- I respect and admire him."

http://www.entrepreneur.com/blog/225346

New Year's Resolution Tips for Busy People

It’s that time of year again, another new year. If you have read any popular blogs lately, seems like everyone is talking about “the time to set goals.” Even one visit to a local bookstore will remind you what you already know: “You can be better, successful, healthy, and rich, if only you’ll set goals and work toward them.”

Why is it, then, that people we all know (maybe you included) fail to achieve new year’s resolutions? Many people simply don’t even make them anymore. Perhaps the idea itself has a bad reputation. Let’s start with the word itself:

Resolution comes from the Latin word: resolvere. Break it down, and you get: "re- (expressing intensive force) + solvere ‘loosen.’”

Uh-oh, when we make a new year’s resolution, we’re actually “loosening” ourselves up to step in to something new.

Related: When Sustainability Starts With Yourself: The Key to Lasting Change in Your Personal Productivity

What does the word resolution mean to you? To me, when I resolve to do something, I make a firm decision and declaration of intent to achieve the goal, to finish the project, to ship the product. To do that, to achieve any goal really, requires that I look around and “let go” of some things, not do as much in some areas of my work and my life, and to delegate or forget doing some of the tasks that no longer are a part of moving the mission forward.

It's simple to make a resolution (Scroll down, review the prompts below, and pick one or two that you’d like to achieve.). It isn't always easy to move from “thought to achievement” on the "big, hairy, audacious goals" that so many entrepreneurs are fond of setting.

For many entrepreneurs, life is getting only busier. At the same time, the stakes are getting higher. Managing yourself well through your year is more important than ever. One way to do that is to reduce the “friction to implementation.” Simply, make your goals easier to achieve, celebrate your achievements more often, and reset your goals to be directional instead of destination-oriented.

What’s the secret? Unlike the Nike quote where you “just sit down and do it,” actually making significant, lasting change is going come down to two concepts: Focus and Iteration.

Take for example the typical resolution of “I’m going to manage physical inventory better” or “Finally, I’m going to get organized.” Both of these are uniquely “un-doable.” Meaning, there is not a clear-cut, objective “there” you’re going to get to.

What do you do? Start by focusing on the intention underneath the resolution. Take for example the idea of managing inventory. What are seven to 10 reasons you have for wanting to take on that goal? One could be: “We want to be more responsive to customers’ needs.” Another: “We want to more effectively manage our cash flow.” Now, when you reflect back (once a week, once a month) on the “new year’s” resolution to “better manage inventory,” you have some more objective line items to which to compare your progress over time.

Related: Get More Done and Sleep Better at Night

Which leads to the next idea of effective goal management: efficient resolution-setting. Iterative improvement is important to study, understand and work with throughout the year. One of the common misconnections of traditional goal-setting work that people do is to “assume” that once they achieve the stated goal, it will be obvious that it’s time to reset the goal, to state the next resolution.

What I know about how this works is this: As you get closer to realizing an intention, you need to already start iterating, already begin re-calibrating your focus on the “next-next” thing. This does not mean that you’re “never satisfied.” Instead, it represents your focus and responsiveness to the dynamics of the market, social shifts, changes in the way your customers operate.
It is that time of year again. Use it to your advantage. Focus on the things you see that need your attention. As an entrepreneur you know how important it is to choose what needs to be fixed. Pick your areas of opportunity, state your intention, and use focus and iteration to get more done.

Here are some ways to think about using those two concepts: Focus and iteration.

Don't "Write a book."
• Do write one story about a memory.

Don't "Get in shape."
• Do pick a 5K run to train for and complete.

Don't "Get rid of debt."
• Do pay an extra 5% of what you owe next time.

Don't "Get organized."
• Do review, purge and clean one shelf (drawer, closet).

Don’t “Manage your time better.”
• Do get used to working in blocks of 15 minutes (1% of your day).

Don’t “Become a better person.”
• Do schedule the “next” volunteer event to spend a half-day helping.

Don’t “Learn more.”
• Do invite someone you respect to meet for a coffee or lunch five times over the year.

Related: When Enough Is Enough: The Perfectionist's Secret to Higher Productivity 
 

http://www.entrepreneur.com/article/225363