Mentors...... Do I really need one?
This is a question many real estate investors and business owners ponder all the time. What can a mentor do for me? Is it worth my time and possibly money? Well that all depends on what your goals as an investor and business owner are. There are more guru's and real estate mentors out there than you can shake a stick at.
What bugs me is what some of these mentors teach and how they are really in it all for the money. The type of mentor you want to seek is one that wants to help you genuinely and see you succeed. Money should just be a by-product of helping people grow and succeed. I believe that if you can help someone grow and succeed in whatever business they are, that you will be rewarded in many ways including monetary. The satisfaction of seeing someone grow from having little to no experience to being extremely successful and free, is a truly rewarding experience. Even those who have the experience but have been struggling for months or even years and helping them break through that barrier to succeed is better than words can describe. What you gain out of it comes in all different forms and money should be secondary to helping people learn and grow.
In my opinion a mentor can mean the difference between failure and success. These people have been through the trials and tribulations of the business already and know what mistakes to avoid and what is needed to succeed. This can save you a ton of time, frustration and money in the end. However I do recommend that you choice wisely and really look into what someones main goals and gains are to being a mentor. I would first look locally in your market and seek someone who has been working in your market for a number of years. Plus they have the knowledge needed about your local market and what pitfalls to avoid.
A good mentor should be willing to help and assist you in learning and growing continuously. My motto has been and always will be, "Learn from others first, before yourself."
Be committed to your success!
Derek Wilson
Real Estate investor and educator
Comments (6)
I agree that the good mentors are people who truly want to help you reach your goals, but it takes more than that. A mentor has to be someone you can relate to and get along with, but probably more important is that the mentor will tell you what you need to hear. To many people want cheerleaders not mentors. They want someone to justify their inaction or lack of progress. Allowing Excuses to prevent your advancement toward your goal. As far as the mentors wanting money....there has to be some reward for the mentor to get involved. Let's face the facts that the majority of people who start real estate investing, or anything for that matter, will never see it through. The mentor, at least the good ones, are probably busy people and they will not be keen on wasting their time so plan on having something to offer in return. It does not have to be money. Maybe you can spread the word through your own social network about their business or product in return for their mentoring you. Find something of value to offer in return (money or other) so the realationship is mutually benefitial. Good luck!
Shawn Parsh, over 14 years ago
Max you would be surprised at how many people out there just genuinely want to help and they achieve great levels of satisfaction by seeing you succeed. Monetary gain is not always what a mentor is looking for. Seek one out in your local area and put yourself out there and you will find one soon.
Derek Wilson, over 14 years ago
I agree. In my opinion, a good mentor wants their students to grow and succeed - not just depend and rely on them forever.
Rachel H., over 14 years ago
Make a list of people you know that you look up to. Rank them in order 1-5. Approach #1 and ask to be your mentor. It works. This idea is not my idea, but rather a tried and true practice outlined in "Good to Great" about 10 years ago.
Kevin Kaczmarek, over 14 years ago
"The type of mentor you want to seek is one that wants to help you genuinely and see you succeed." How do you find a mentor who wants to help you genuinely and is not in it for money?
Sharad M., over 14 years ago
I think the right mentor can accelerate your success in all aspects of life. If you are seeking a mentor who is a "guru" you need to establish a friendship first, and then the true test is if they are in it for the money.
Kevin Kaczmarek, over 14 years ago