Who are the VMS Mentors?
Members of the mentoring teams are serial entrepreneurs and C-level executives who assist the venture with the navigation of advanced business tactics: creating effective business plans, making strategic hiring decisions, sales and marketing strategies, perfecting pricing models, deciding when and how to fundraise, and more.
Where will you meet with your VMS team?
CED VMS is best suited for full-time entrepreneurs who have concerns about how to successfully scale their existing business, and are ready for an initial “advisory team.” As VMS sessions are offered only in the Research Triangle Park area of North Carolina, the entrepreneur must be able to meet with mentors in that location.
How does the mentoring process work?
The prospective ventures must submit an application to provide basic information about themselves and the venture. All identified proprietary information provided by applicants will be kept strictly confidential by CED VMS. After applying, you will be contacted by one of the mentors for an informational interview. If you are recommended by the screening committee, you will be asked to do a “pitch” at one of the monthly mentor meetings. This pitch, followed by a Q&A session, allows the mentors to get to know you, your team, and the company you are trying to scale. Mentors volunteer to be on a venture team based on interest and specific business experience. CED will then put together a mentoring team of 3-4 mentors and arrange the first meeting.
Does the mentor team have any control over the venture?
The CED Venture Mentoring Service is strictly educational. All business decisions remain under the full control of the participating entrepreneur. The mentors are there to help you set and achieve critical milestones, but they cannot and will not do it for you.
What rules are CED VMS entrepreneurs expected to follow?
Entrepreneurs must commit to a sustained relationship with CED VMS, and to being professional, open, respectful, and responsive to the volunteer mentors assigned to them. Entrepreneurs in the VMS program are also expected to provide us with accurate information about their venture on a quarterly basis.
As the entrepreneur, am I responsible for any fees or considerations?
CED VMS services are offered free of charge. Thanks to the generous support from our Partners, there are no fees for the service, nor does CED ask for any equity.
Is VMS right for you?
The CED Venture Mentoring Service is ideal for full-time entrepreneurs needing guidance to successfully scale a business, and are currently ready for an initial “advisory team.” This is not an opportunity to solicit mentors for assistance with raising capital.