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V O L . X X V I I I N O. X I I I § 2 J U N E 2 7 , 2 0 2 2 4 F RO M T H E S P O N S O R S A t Pierce Atwood, we know that entrepreneurs and emerging businesses are essential components of our state's economic growth. We also know that startups work on shoestring budgets that make it difficult to access the type of legal services they need. at's why Pierce Atwood offers cost efficient guid- ance, counseling, and legal services covering the essential steps in estab- lishing and growing a new business and preparing early-stage businesses for the journey ahead. Our Catalyst program offers innovative and flexible fee arrange- ments designed to address cash flow challenges while providing essential advice and counsel in areas such as technology transfer and licensing, research and development, financing and equity investments, accessing government and NGO funding, pro- tecting intellectual property rights, and buying or leasing real estate. We also support a variety of organizations that provide services and opportunities to Maine's startup community: We're a strategic partner of Northeastern University's Roux Institute, which helps to spur inno- vation, build talent, and drive eco- nomic growth in Portland, the state of Maine, and beyond, particularly in the critically-important fields of computer and information sciences, artificial intelligence, and advanced life sciences. For many years. Pierce Atwood has sponsored Startup Maine, which brings together innovative start- ups and entrepreneurs for learning opportunities and creative collabora- tions. In addition to participating in their annual conference, we continue to host formal and informal oppor- tunities for innovators to exchange ideas and knowledge. As a lead sponsor for Maine Center for Entrepreneurs, we s u p p o r t M C E 's m i s s i o n t o build and lead a community of growth-oriented Maine businesses. MCE has helped accelerate the growth of hundreds of businesses and now has a network of more than 200 mentors. Pierce Atwood partner Andrea Suter, who regularly advises startups, family-owned, and early-stage companies, is MCE's current board chair. Pierce Atwood is also a long- time supporter of the New England Ocean Cluster and their mission to "Transform the Blue Economy," where members work together to advance and modernize ocean-related industries that help grow Maine's economy in ways that are both inclu- sive and environmentally sound. Startups and entrepreneurs bring innovation, adaptability, and cre- ativity to Maine's business com- munity. We're proud of supporting their efforts and contributing to their success as they introduce new technologies, new ideas, and new opportunities to market. — David E. Barry Managing Partner Pierce Atwood D o you know that mentorship is the single most important external factor for business success? Every start up or small business would benefit from having a trusted mentor. e role of a mentor is to offer knowledge, support, and per- spective. Rule of engagement: the mentor has a sincere desire to help, and the mentee has a strong desire to learn. e best relationships are based on mutual respect. e killer benefits of a mentoring relationship: relevant perspective and advice, skill improvement, networking contacts, and encouragement. When your family and friends are tired of hear- ing about your business, it may be time to enlist a mentor. Ready to take the first steps? Begin by clarifying your objec- tives for mentoring. What guid- ance are you seeking? Help with specific operational issues? Hiring your first employee? Support and encouragement? It is key to be clear what sort of help matters most to you. Write down your issues and prioritize their importance to you. is list becomes the starting point of your first discussion. Gauge the fit of the person sit- ting across from you. A mentor should be someone you can relate to. If that feels like an obstacle at the first meeting, it probably will not improve over time. Explore the skills and experience of the mentor. Most mentors have a general business knowledge. If you are seeking help with digital mar- keting, it is critical that the mentor have the functional experience you are seeking. Keep an open mind. e men- tor should offer perspective based on experience. e analysis of the situation may result in advice that offers a different approach to solv- ing the problem. Be open to new ways of thinking. Are you seeking a long-term mentoring relationship? If so, fear not and ask! Review meeting fre- quency, and time allotted for the discussion. Jointly set expectations for each face-to-face conversation. A final thought before you start. You should never have to pay a men- tor. If someone is asking to be paid, they are a business consultant, and that relationship is a commercial one. A mentor's motivation is an open and honest desire to help. What are you waiting for? ere are terrific mentoring organiza- tions in Maine where you can find a business mentor, like the SBDC, the Women's Business Center and New Ventures. A great place to start is SCORE, and find a mentor for the life of your business. — Nancy Strojny SCORE-certified mentor SCORE Maine state assistant director nancy.strojny@scorevolunteer.org Find your mentor match through SCORE Maine Investing in Maine's economy by investing in Maine startups