Mentor Progress Review

Each Founder will present their company in front of a panel of Mentors and get graded on 3 metrics: product or offering progress, presentation quality and completeness of the financial model. You will have 3 minutes to present the company with a PowerPoint deck, and you will have another 3 minutes to discuss the product development plans, including the Product Roadmap, Estimation and technology decisions. Mentors will ask questions and then rate Founders on a scale of 1-5 in each category with 5 being the best possible score. Any Founder that scores an average of 2.0 or below may be asked to leave the program and re-enroll in a future semester. Any Founder with a score below 3.0 may be given a challenging Special Assignment or be asked to re-enroll. There are the following assignments after the session.
Include a link or links to the work required in your Special Assignment in the “Mentor Progress Review” assignment field before the additional work described below.
1. (Updated PowerPoint) Update your PowerPoint presentation from the Mentor Progress Review using feedback from the Mentors. Share your PowerPoint with your Advisors for additional feedback. Paste a link to the PowerPoint into the assignment field and into the fields on Edit Profile. Make sure it can be accessed.
2. (Updated Executive Summary) Update your Executive Summary with feedback from the Mentors in the Mentor Progress Review. Paste a link to the Executive Summary into the assignment field and into the fields on Edit Profile. Make sure it can be accessed.
3. (Updated Product Specification) Update the Product Specification with feedback from the Mentors. Make sure that you have estimated a realistic sense of the cost and the time to complete the Product Roadmap. Paste a link to the updated Product Specification in the assignment field. Make sure it can be accessed.
4. (Complete Next Release) Work closely with your Advisors and your Roles to complete the Next Release. Write instructions to view or access the Next Release.
5. (Next Release Iterations) Develop a strategy with your Advisors and your Roles to do a series of fast-paced adjustments to your Next Release, possibly multiple changes per day, in order to fix bugs and optimize for traction. Write your procedures and communication practices to achieve these fast-paced adjustments.
6. (Minimum Viable Company) By this point in the program, your should have a Minimum Viable Company. First, you should be incorporated with all of the intellectual property assigned to the corporate entity. Second, you should have a functioning Advisory Board and resources to create your offering. Third, you should understand the economics of generating revenue for your business. Fourth, you should either have a working minimum viable product or be close to completing one. Write a couple sentences to validate each of these.
7. (Going All In) If you have not quit already, develop a plan to quit your job and focus on your dream company full-time within the next six months. Speak with your friends, family and Working Group about the plan. Write a letter on startup company stationary with a couple paragraphs about your plan to quit, write in large letters the date that you pledge to quit by, and sign the letter. Include the couple paragraphs about the plan to quit in the assignment field.
8. (Ninth Mailing) You should ensure that you have at least 125 people on The List. Write The List what you have thought of the Founder Institute program so far, what you have accomplished to date, and what you plan to accomplish with the business going forward. You have achieved a major milestone in the program, and this email will be an important benchmark in your success.
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