‍What made you want to step into the world of mentorship?

My decision to mentor stemmed from my extensive experience in the startup world and a corporate career spanning over two decades. I've worked closely with numerous founders, so I understand the skills needed as a portfolio professional to add value to them and their businesses. Similarly, I know about the process of transitioning from a corporate mindset to a non-executive director or advisory role. Given my background, I felt compelled to share my knowledge and help others navigate this journey. It's a way of giving back to the community.

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How exactly do you help mentor new portfolio professionals on the Connectd platform?

I focus on helping professionals transition from the corporate world to a portfolio career. This involves emphasising the fundamental differences in approach between working with a large team of employees versus working with founders and startup teams. 

While corporate roles often involve directive leadership, advising and mentoring startups requires a collaborative approach. I encourage portfolio professionals to ask thought-provoking questions rather than providing direct answers; by offering a broader, more strategic perspective, advisors can help founders to think strategically and plan for the future. 

The nature of startups is such that the founder can become fixated on the day-to-day and week-to-week, and lose sight of the long term goals and vision. This is where advisors can really add value and keep the startup on track. Ultimately, I equip my mentees with the tools to effectively support startups and adapt their approach to the unique challenges faced by entrepreneurs.

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How important is it for founders to build out a board of advisors in the early stages?

Building an advisory board is essential for early-stage startups. Founders often wear multiple hats, handling sales, marketing, product development, and HR. While manageable initially, these responsibilities become overwhelming as the team grows, and given how limited resources are for most startups, hiring experienced professionals for each role is impractical. 

An advisory board offers a solution by providing access to seasoned experts in various fields. These advisors offer strategic guidance, industry insights, and valuable networks without becoming full-time employees. By leveraging their expertise, founders can accelerate growth, make informed decisions, and focus on core competencies. Ultimately, an advisory board is a catalyst for success in the early stages of a startup.

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Would you say having that fresh outside perspective also helps because as a founder you can be so immersed in your business?

Absolutely. Founders often become deeply engrossed in day-to-day operations, firefighting constant challenges. While this focus is crucial, it can hinder a broader perspective. Advisors can pull you out of the weeds, provide a valuable counterbalance, and help you to see the bigger picture. By stepping back from the daily grind, founders can regain clarity and re-energise their vision.

Being a founder can be quite lonely and isolating; dealing with investor pressure and employee expectations while driving the business forward is immensely demanding. Having trusted advisors offers not only strategic guidance but also emotional support. This invaluable sounding board can significantly improve a founder's mental well-being and overall resilience.

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How crucial would you say is the Connectd Transition to Portfolio program in upskilling portfolio professionals?

The Transition to Portfolio programme is vital in upskilling professionals for a portfolio career. It not only imparts new knowledge but also fosters a fundamental shift in mindset. Many participants have extensive experience in specific roles, and transitioning to a portfolio career can be challenging due to imposter syndrome. The programme helps individuals identify and leverage their existing skills, preparing them for the collaborative nature of working with founders.

Unlike other programme that focus solely on training, Connectd offers a holistic approach. By providing pro bono placements, we bridge the gap between theory and practice. This hands-on experience is invaluable in building confidence and understanding the nuances of working with startups. Our mentoring component further supports participants by offering guidance, answering questions, and sharing best practices.

While the programme is effective, it's essential to recognize that not everyone is perfectly suited for a portfolio career. Some individuals excel naturally, while others require more time and support. The programme's combination of training, placement, and mentorship addresses the diverse needs of participants, maximising their chances of success.

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How much value do you see new portfolio professionals gaining through their placement roles and how are you able to maximise this as a mentor?

The value of the Connectd Transition to Portfolio programme lies in unlocking the potential of experienced professionals for the startup ecosystem.

Through placement roles, mentees gain invaluable practical experience, applying their existing skills in a dynamic, entrepreneurial environment. This exposure often leads to a newfound sense of purpose and fulfilment as they contribute to the growth of innovative businesses. Mentors play a crucial role in maximising this value by guiding mentees through the transition, boosting their confidence, and helping them identify and leverage their transferable skills.

The programme fosters a mutually beneficial relationship between mentors and mentees. Mentors experience the satisfaction of sharing their knowledge and witnessing the growth of their mentees. In turn, mentees develop a deeper understanding of their own capabilities and build a strong foundation for a fulfilling portfolio career.

By facilitating these connections and providing ongoing support, Connectd aims to create a thriving ecosystem where experienced professionals can contribute significantly to the success of startups while building a sustainable and rewarding career path.

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What is a real life example that you've seen of a startup that encountered issues because the founder and executives failed to listen to the NEDs?

It's important to recognise that the role of a NED is to guide, not dictate. Founders ultimately make decisions, and mistakes are a natural part of the entrepreneurial journey. However, there are instances where a failure to heed advice can lead to challenges.  

One common issue arises when a rapidly growing startup fails to adapt its management structure. Initially, a founder might be able to manage all aspects of the business. But as the company expands, a more structured approach becomes necessary. If the founder resists delegating and hiring a strong management team, the company can suffer.

I worked with a startup where the founder was a brilliant product visionary but struggled with operational management. Despite repeated advice from the board to hire a COO, they were reluctant to relinquish control. As the company grew, operational inefficiencies emerged, leading to missed deadlines, unhappy customers, and decreased investor confidence. It took a significant crisis before the founder realised the necessity of a strong operational leader.

Another challenge occurs when founders become overly attached to their initial vision and resist pivoting when market conditions change. A NED's role is to provide a fresh perspective and suggest adjustments based on market trends. If the founder is inflexible, the company may miss opportunities or fail to adapt to competitive pressures.

Ultimately, the success of a startup depends on a collaborative relationship between founders and NEDs. By fostering open communication, mutual respect, and a shared vision for the company's future, it's possible to navigate challenges and achieve long-term success.

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Would you say that navigating the challenge of handling a founder's ego is the most difficult aspect for portfolio professionals working with startups?

Managing a founder's ego can certainly be challenging, but it's essential for successful collaboration. A certain level of ego is often necessary for entrepreneurial drive, but it's crucial to balance this with open-mindedness and a willingness to listen.

Effective portfolio professionals approach this by offering guidance without imposing their views. They respect the founder's ultimate decision-making authority while providing valuable insights and perspectives. By building trust and rapport, mentors can help founders understand the importance of considering different viewpoints and making informed decisions.

Ultimately, the goal is to create a collaborative environment where both the founder and the advisor contribute to the company's success.