The magic of mentorship and lessons learnt from a black and a white female founder

2 Jun

In June 2020, Project W put out a call to action to investors and advisors in their network, asking them to volunteer 30 minutes of time to mentor a Black founder. The result was overwhelming, and they ended up pairing over 120 Black founders with mentors.

Some pairings didn't click, but many others did, showing us what can happen when people freely and authentically give and get. We're thrilled to share the story of mentee, Tiffany Hosey, CEO and founder of BuilDATAnalytics, of Oakton, Virginia, and mentor, Fiona McKay, Managing Director and founder of Lightbulb Leadership Solutions and Fiona-McKay.Com of Manchester, England, and the lessons learned about mentorship from Tiffany and Fiona.

The first question that came to mind when Tiffany opened Project W’s email, letting her know that they had paired her with Fiona, was “What were they thinking?” Not only were Tiffany and Fiona an ocean and six hours apart, but Fiona didn’t have any background or expertise in the construction industry, the sector Tiffany was aiming to disrupt. The reason for the pairing:

“Tiffany indicated she would like executive coaching, and Fiona is one of the best executive coaches we know.”

— Lynn Loaker, Project W Founder, New York, USA

Their mentoring session was scheduled for 6 a.m. Eastern Time. One of the first pieces of advice Fiona imparted to Tiffany was not to show up for a business meeting looking defeated or with low energy. Fiona only later learned that not only had Tiffany reached a point of stagnation with her business, but only a few months earlier she suffered the devastating and sudden passing of her father, her biggest champion.

As a result, the meeting with Fiona came at a critical inflection point for Tiffany. She had left the practice of law to start her company. She knew the construction business intimately, from managing a construction company to working on a construction site, and she knew that it was ripe for change. Her SaaS enterprise solution was poised to modernize and disrupt the archaic way contractors have built complex projects for decades and, at the same time, significantly reduce the costs and risk associated with construction. Nevertheless, although she had closed a few contracts, her business development efforts had stalled, and she could not figure out how to increase her deal flow and close more deals when she pitched to potential customers. She had begun to lose confidence and questioned whether she should reverse course and return to the practice of law.

So, after some straight talk about presenting her best self via Zoom and not emoting defeat, Tiffany and Fiona dug into why Tiffany was feeling the way she was. Fiona took the time to understand what was causing Tiffany to lose focus, which resulted in the "lightbulb moment" that revealed to Tiffany how to adapt, what to focus on and where to accelerate. And in this process, Tiffany discovered she and Fiona had more in common than she thought. They were about the same age. Both had left traditional careers (Tiffany, in law, and Fiona, in a legal consultancy) to start companies. And, while trying to grow a client base and achieve a big breakthrough in her own company over 14 years ago, Fiona had experienced the same numbing frustration that Tiffany was currently experiencing.

That first meeting led to several others, all focused intentionally on building Tiffany's business, from mining Tiffany's LinkedIn contacts to Fiona sitting in on a customer pitch. Leveraging her renewed energy and focus that resulted from her work with Fiona, Tiffany was able to build on her company's relationship with Aon Risk Solutions, one of the largest insurance brokerages in the construction space, to develop a robust pipeline of new clients in both the public and private sectors.

Tiffany and Fiona have agreed that their mentorship sessions have come to an end. However, their relationship hasn't. Based on deep mutual respect and a growing friendship, Tiffany will continue to learn from Fiona and, as Fiona readily acknowledges, Fiona will continue to learn from Tiffany.

Tiffany talks to Fiona about her learnings as a mentee in the video below:

Here are some of the lessons we learned about mentorship from talking to Tiffany and Fiona:

✧ Mentorship comes in different shapes and sizes. Your first mentor shouldn't be your last.
If you're lucky, you will have multiple mentors during your professional life. Some mentors may help address a specific need. Tiffany had a mentor at the architectural firm HKS who taught her how to read architectural drawings and about various aspects of the construction industry. Fiona's first mentor was a judge who took her on as a clerk (despite her lack of any legal education or experience) and taught her the ropes so she ultimately ended up in wig and gown acting as clerk for some high profile lawsuits. On the other hand, Fiona and Tiffany's relationship took on a broad scope, from the emotional and personal to the strategic and tactical. Different types of mentorship may be appropriate at different stages of your career and career path. Know what you need and when you need it and seek out the right mentor for the particular point in time.
✧ Being open about your vulnerabilities is important, but so is plugging them.
Tiffany and Fiona started their journey with Tiffany openly and candidly sharing her disillusionment but also her deep desire to scale her business and make more rapid progress. From her own experience, Fiona recalled what it was like to feel isolated and how important it was to have a safe space to explore your frustrations. But, acknowledging challenges and low points in your journey does not mean accepting defeat. Fiona helped Tiffany turn her vulnerabilities into action by challenging Tiffany to think big. Was she willing to be satisfied with what she could get? Or was she going to aim for what she really wanted? Tiffany rose to the challenge, realizing that belief, talent and self-confidence got her to where she was and that by tapping into those reserves, unleashing her increased self-confidence and applying laser focus to key growth priorities, she could go much farther as an entrepreneur.
✧ Speak and accept uncomfortable truths.
Fiona didn't pull any punches in her first meeting with Tiffany. What Fiona had to say might not have been what Tiffany expected to hear. But Tiffany listened and embraced the message. Fiona's straight talk was just what Tiffany needed to reclaim the person she knew she was: wicked smart, ambitious, innovative and the creator of a product that has huge potential.
✧ Don't underestimate what you have to get and what you have to give through mentorship.
At first, Tiffany didn't see how Fiona, with no background in software development or construction, could be helpful. But she quickly changed her mind. Fiona's coaching – informed by Fiona's own journey as an entrepreneur -- was just what Tiffany needed. And, Fiona is grateful for the opportunity to learn about the technology Tiffany has built, the industry she aims to disrupt, and the formidable challenges faced by a woman of color in the construction industry.
So, whether you are a potential mentor or mentee, keep an open mind as to what you can give and what you can get. That's when the magic happens.
Read more about BuilDATAnalytics
Read more about Lightbulb Leadership Solutions & Fiona-McKay.com
Many thanks to our friends at Project W where this article originally appeared.