Mentoring and Incubators

Over the last 30 years, an entire industry has developed around serving the needs of business and technology entrepreneurs. These service providers practice in both the public sector and the private sector and are available on the local, state, and national levels. In the public sector, these services are often available at no charge; in the private sector, there is typically a cost. Unfortunately, there is often little correlation between the cost and quality of the service rendered.

Mentoring
Incubators

Mentoring

They key is to first understand what your specific needs are. A thorough, objective planning process can help get you started in this direction, but most technology entrepreneurs are uncertain what needs to be done, so they are unclear about what their real needs are. A good way to get started, then, is to find a mentor—someone who has "been there and done that."

Entrepreneurs of all kinds tend to share a bond that usually involves a willingness and desire to help others who are coming after them. Because of this, you may not have much difficulty finding individuals who are willing to serve as a mentor. The trick, however, is to find someone who is a good match to you.

You have to be comfortable in accepting advice from this individual and knowing when and how often you can turn to him/her. Similarly, you have to be confident that s/he is genuinely interested in helping you. And most importantly, you have to be able to communicate with each other. Often, this relationship develops over time, but it always begins with your signaling that you are serious about the proposed venture and are willing to work hard for it.

Networking with peers and respected individuals in your technology area or the business community is a good way to identify prospective mentors.

Check the Energy TechNet Resource Directory to see if mentoring services are available in your state.

Especially in more rural areas, you may not be able to find a single individual who can mentor you in all respects of your new venture. In this case, you may want to put together an advisory group, each member of which brings a particular area of knowledge and experience. Indeed, pulling together an advisory group is a good step for any entrepreneur, regardless of location.

The U.S. Small Business Administration's SCORE program is another opportunity to receive sound mentoring assistance. SCORE is designed to connect entrepreneurs with experienced business owners in a mentoring relationship. The idea behind SCORE is superb—the key to successfully using the program, however, is to get connected to a SCORE counselor who has the background and experience to meet your specific needs. If you are able to find such a good connection, it is also important for you to take full advantage of the opportunity by maintaining contact with the counselor, possibly over a period of many months or even years.

The newly formed Entrepreneurs for Energy Efficiency, Inc., a group of entrepreneurs who have developed technology through the DOE Inventions and Innovations Program, also plans to offer mentoring services. This group's web site will offer additional information as the program unfolds.

Incubators

Incubators represent another opportunity to receive business and/or technology development assistance. There are hundreds of incubators located around the country. Some offer only office space and shared access to administrative services (e.g., receptionist; copier/fax; bookkeeping). Many others, however, offer active counseling in business management, marketing, technology development and commercialization, legal, and other matters of interest to most entrepreneurs.

Check the Energy TechNet Resource Directory to see if your state has incubator facilities.

The National Business Incubator Association (NBIA) is another excellent resource. NBIA's Web site allows you to search for incubators in your area.