Coaching Information The Great Lakes Entrepreneur's Quest (GLEQ) recruits dynamic, seasoned professionals who share a common interest and who have the skills, contacts and insight needed to help teams develop solid business plans. Teams learn from the enthusiasm and dedication which these individuals possess. The primary credential needed to be a coach is a successful background in helping to start technology based, high growth businesses. • The Matching Process • Sign up to Coach • Coaching Job Description • Specific Coaching Duties • Coach's Calendar • Coach's Resources • Coaching Benefits The Matching Process Teams and coaches will be matched based on the needs of the teams and the expertise level of the team and coach, while also trying to match the industry segment. Teams may be assigned more than one coach if there are specific needs that need to be met. Coaches are encouraged to use other coaches for advice which may fall outside their particular area of expertise. Mentors will be assigned as appropriate to all parties. Any questions about the coaching and mentoring process can be directed to coaching@gleq.org. Coaching Job Description section Coaches who are qualified are assigned to teams each cycle based on their functional expertise and industry experience. Coaches should be experienced business leaders and business consultants who have a desire to mentor start-up entrepreneurs. Coaches may be from industries and geographies in the state of Michigan. Our best volunteers thrive on the entrepreneurial spirit and are exciting by the prospect of growing an idea into a business plan, and a plan into a real company. We seek individuals who have a general understanding of the components of a good business plan, and of a good business. Volunteers need to be comfortable helping an entrepreneur to develop their ideas, helping to remove barriers to success and helping the entrepreneur to focus on the most important things. Our volunteers "coach" rather than "do" business planning, and generally spend 5-10 hours with their team during the competition. Some of our best coaches invest their volunteer time even more extensively in a team with an exciting business idea. Most importantly, our volunteer coaches tell us they are energized by the optimism of the entrepreneurs, value the opportunity to extend their business network and meet experienced colleagues, like learning about new business tactics and are pleased to have an opportunity to make a difference. Coaching responsibilities include: -Becoming familiar with the GLEQ competition requirements -Providing a constructive assessment of the business concept, executive summary or business plan -Directing your team to available training resources during the competition cycle -Providing general advisory assistance to the team -Referring your team to other entrepreneurial resources -Providing a final review of your team's Summary or Plan submission Specific Coaching Duties • Confirm your team’s competition category (“emerging company” or “new business idea)” • Provide an assessment of your team’s preliminary documents • Direct your team to GLEQ training opportunities • Provide general advisory assistance • Refer your team to appropriate entrepreneurial resources • Review your team’s executive summary or business plan before its final submission • Provide feedback and information to the GLEQ Confirm your team’s competition category ("emerging company" or "new business idea"). Review the category descriptions on Where Do I Begin? and Eligibility sections . If you believe your team should be categorized differently, work with your team to get them appropriately categorized. If the team’s category is incorrect, Email coaching@gleq.org with the following information. (Before we are setup our form mail, please copy and paste the following information in the body of the email) Team's business name: ____________________________ Coach's name: ___________________________________ GLEQ Contest category: o”Emerging company” or o”New business idea” oThis is the same category the team originally selected oThis is a new category for the team oThe team needs GLEQ to help determine the appropriate category for the competition Coaching Assessment and Feedback Form The GLEQ Coaching Assessment and Feedback Form provides your team a baseline review of their initial executive summary or business plan. Be thoughtful and constructive with your feedback, and help your team to focus on the most important things. These are 4 sections of the assessment. 1. Business model information, whether in an executive summary or business plan 2. Judging criteria: a review of the document to measure it against the competition criteria 3. Entrepreneurial readiness: the soft side and the messages that tell the story 4. Assistance: Referrals for further assistance For each category, leave constructive comments and rate your team on a 1-5 scale. This helps your team focus on what needs the most work. Share your entrepreneurial expertise with your team. On the last page of the assessment, select any and all referral resources that are relevant for your team and that could provide further assistance beyond the competition. Click here for Assessment Form . Then send a final copy to your team and Email coaching@gleq.org. Direct your team to GLEQ training opportunities. Refer your team to the low cost training opportunities provided by GLEQ training. Events Calendar Fast Trac seminar series Cantillon On-line Make yourself familiar with the GLEQ training opportunities. It is important that you be able to point your team to specific resources that are applicable to their current efforts. Make the referrals as soon as possible so that your team can attend the sessions that are most useful. GLEQ training is provided free or at low cost to entrepreneurs through the generous donations of GLEQ sponsors and many volunteer presenters who offer real-life entrepreneurial experience. Coaches may attend one NEF meeting at no charge each cycle. Register ahead at coaching@gleq.org. Provide general advisory assistance Our coaches provide business advisory assistance to their teams. Coaches generally spend between five and ten hours with their teams over the course of a 3 month period. Coaches are welcome to spend more time if it makes sense them and their team. Remember a coach advises, rather than acting as a consultant and doing the work themselves. Coaches sometimes (at their own discretion) refer qualified entrepreneurs into their own networks for connections to potential employees, services, customers or other business advice. Refer your team to appropriate entrepreneurial resources The state of Michigan has many organizations that are eager to help entrepreneurs launch their companies. Review the resources that are available on the Assessment Form Assessment Form . Make yourself familiar with these resources and be prepared to refer your team to resources that can be of assistance both during and after the competition. Review the recommendations you made during your assessment, and add any other referrals that you think would be useful. Review your team’s executive summary or business plan before its final submission Your team will submit a final Executive Summary or Business Plan to GLEQ. Note the rules for submission on the Competition Details page of the web site. Plan to do a final review of these submission documents to give your team final advice before they are submitted. Provide feedback and information to the GLEQ You and your team will receive separate surveys after the team's final documents are submitted. Submitting this feedback is an important part of GLEQ coaching and allows you provide your team with important feedback. Keep track of the hours you spend with your team, as the total hours you volunteered for your team will also be reported. Your team will be providing feedback on your coaching as well. Finally, plan to attend the Awards Ceremony. Please mark your calendar. Your team must be present to win. It would mean a lot to your team and to GLEQ if you could be present as well. Coaching Calendar for NBI and EC Teams Date Event 10/27 Your team should have made contact with you. 11/5 First meeting with team should have occurred. 12/8 Confirm contest category. 12/10 Assessment form to coaching@gleq.org. (Optional) 12/17 Final documents to be submitted by New Business Idea and Emerging Company teams - NBIs and ECs are submitting a six-page executive summary in the Fall Cycle of the competition. 1/7/2011 Survey feedback. 1/27/2011 Awards Ceremony at ACE'11, Ann Arbor. Coach's Resources Verify your Team’s category contact@gleq.org Assessment form Assessment Form Coaching PowerPoint Coaching PowerPoint Survey link for feedback (Will be Available to Team’s in June) Coaching Assignments GLEQ Teams Coaching Benefits GLEQ coaches gain an entry way to the entrepreneurial community and have an opportunity to make a difference and meet others who are helping to build entrepreneurship in Michigan. Our coaches find new clients with the profile information posted on the GLEQ web site, one of the only public and free consulting databases in the state. GLEQ coaches: •Attend all GLEQ events for free. Calendar of Events Register now! •Audit one FastTrac evening session at no cost Fast Trac Tech Venture seminar series •Email Coaching@gleq.org to reserve space. •Use the online Cantillon series with one of your clients at no charge. Cantillon On-line and Email Coaching@gleq.org to get a password.