Frequently an entrepreneur has a brilliant, flash bulb idea, but lacks the day-to-day management experience to set out the steps toward achieving that vision. If you are an angel investor, and you are considering backing that entrepreneur, but have questions about the team's ability to plan and implement, consider proposing that you give not just funding support, but a coach who can sit at your entrepreneur's right elbow, and help shepherd your investment wisely. Ultimately the board has the controls, but a wise coach will know how to be heard, how to point out the potential obstacles, where there is competition, and how to navigate the landscape and move forward most effectively. An early stage company cannot afford seasoned management, but an interim executive coach is an affordable way to provide that seasoning and ensure the best chance of reaching desired outcomes.
- An interim mentor can design an achievable business plan, eliciting the goals and ownership of each strategic step from the staff and executive team, to ensure alignment toward the ultimate vision.
- An interim mentor can help assess the competitive landscape, to hone the unique value proposition and the marketing strategy for building visibility and demand.
- An interim mentor can help diversify the funding strategy, looking at long-term strategic needs, to ensure there is sufficient support for the operation to reach profitable, sustainable levels