Mentor / Mentee - Win / Win
I have been a Mentor and a Mentee, the student and the teacher. It is by far my favorite way to learn. I found both roles to be greatly beneficial. But, it has to be a Win - Win situation or nobody wins.
My most profitable mentee was when I started in Real Estate and the owner/ broker of the firm put me with his most experienced agent. We’ll call him ”Jaws”. I was to pay “Jaws” 25% of everything I earned for the first 30 days.
”Jaws” knew every apartment in Manhattan. But, it was the 4 Questions that “Jaws” taught me to ask every new client, that made me a small fortune. It made me money while I was in Real Estate and a variation of those four questions became an integral part of every presentation I’ve done to this very day. Those 4 Questions were worth every penny that I paid ”Jaws”.
His other help, far surpassed that. My desk was right behind his, he could hear my conversation with my clients. He would write down a list of 3 to 5 apartments to show them, and he would put a ‘C’ on which one I should Close on. He was right about 80% of the time. We stayed friends for years after my month of being a mentee was over.
”Jaws” didn't help me get my Real Estate license, he didn’t help me study for the test. He didn’t show my clients apartments. I had to do the work. He just made the work More Profitable.
”Jaws” also didn’t point me to the big books we had of NYC apartment floor plans and say, “Go, study them”. That would have been like saying, “Take 2 aspirins and call me in the morning”. I would not be happy to pay somebody to tell me, “Just do your lessons, and PM me if you have any questions”. Sorry, that’s not a mentor, that’s a Traffic Cop.
I’ve been looking for a Mentor here, a ”Jaws” if you would. I would also like to become, ”Jaws” for somebody else. I would much prefer to be a Mentor than to be an Ambassador. I have no idea what qualities an Ambassador needs. I do know what a Mentor needs to be.
"Mentoring is to support and encourage people to manage their own learning in order that they may maximise their potential, develop their skills, improve their performance and become the person they want to be." Eric Parsloe, The Oxford School of Coaching & Mentoring
http://www.mentorset.org.uk/pages/mentoring.htm
It is a partnership between two people (mentor and mentee) normally working in a similar field or sharing similar experiences. It is a helpful relationship based upon mutual trust and respect.
What would be fair and equitable here, what would be a Win / Win for both parties?
How much is realistic for a Mentee to earn in 30 days, with one on one, expert Mentoring? I think under $1,000 Gross would be not worth it for either party.
Let’s start with 25% of everything that is earned for the first month. I would say If a Mentor could help a Mentee to earn $1000 Gross, then the Mentor would have earned a commission of $250 for the month. The Mentee would net $750. If the Mentor, could have more than one mentee a month it could be very profitable.
How much time, would the Mentor have to invest to earn his 25%?
Of course it could be on a sliding scale, depending on how much time the mentor had to dedicate. Or, there could be Production Bonuses at different Income levels. I know as a Mentor, that would be a very nice carrot for me.
There is also no reason, why the Mentoring would only have to be for one month. The logical progression for me would be to go from Mentee to Mentor. If methods and training tools were used, there is no reason an Override on New Mentees, shouldn’t be expected (perhaps 1% of the new mentors earnings). The possibilities are unlimited and interesting to imagine.
I know that I'm not the only one that feels they could benefit from a One On One Mentoring Relationship. It would be great to here everybody else's feedback. From the Mentor and the Mentee's perspective.
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Hey Phil, I'm going to give you my two cents worth and it isn't worth as much as it used to be.
First, you would think that the person that recruited you to WA would assume the role of Mentor. However, in most cases you get a follow up message saying thanks for joining and then a second message prompting you to become a premium member. In my case that was the last I heard from the guy and I would suspect the same with many others as well.
Second, over the last year or so, mentors were a very big part of the up sell for many of the get rich quick promotions and it came at a steep price. While most would love to have a mentor, I think its association with those types of promotions have given it a bad rap.
Third, I think WA was set up to teach, and then those that learn from the classes, can assist other having trouble catching on. It seems to be working. Reading blogs responses and answers to classroom questions, you can find members that have been at WA for some time and are knowledgeable. However, they are like the medical profession, they specialize. Bo the web guy for Facebook, TJ-Books for the business side, leo emery, for everything Google and WA, and then there are some that are great at boosting everyones moral. You have to search them out.
Fourth, Reading some of the posts and blogs that appear here on WA, I would say many are investing, what to them, is a substantial sum, to be premium members each month in order to have access to the classrooms, tutorials, and webinars.
It is nice to see this type of question put out to the community. It keeps things fresh.
Didn't mean to hijack your post, Phil. You know you can PM me anytime.
Skip, first of all No Hijack, good input.
1. Sounds like you had the same recruiter as I did. I said the other day, my guy wouldn't pee on me if I caught fire, let alone show me anything. He did his part, I'm grateful.
2. Why should mentors be connected with Scams and not Corporate America as Sandra pointed out?
3. People come here to Learn How To Make Money. I don't know about you, but the faster the better for most of us.
I'm looking for someone with all of the skill sets needed to make n-money with an online business. But, more important to pass that knowledge on to the next person.
4. I hear you, but as Angela points out "In my eyes, I have nothing to lose. It's payment on contingency like in a lawsuit."
It doesn't cost the Mentee or the Mentor one ¢.
As Einstein said - "Information Is Not Knowledge" nor is it "Experience" - BrooklynPhil
Your honor I rest my case.
I don't even remember who it is that "recruited" me in.
One thing that has always stuck with by one of my Mentors, Richard Dennis. In MLM and affiliate marketing, if you want to retain good people you want to "Sponsor" them, meaning that once you have brought them in, you take that time and care to show them how to make it work, otherwise all you are is a recruiter.
A recruiter is someone who sells, sells, sells, and really does not care how those they have brought in succeed. Just as long as they are making their money.
I personally would much prefer to be sponsor!
"A recruiter is someone who sells, sells, sells, and really does not care how those they have brought in succeed. Just as long as they are making their money."
It appears that this is accepted, and endorsed, and mentoring is not.
Sounds good! I'm nowhere near that level of expertise yet, though. Maybe in a year or so. I have so much to learn. And, BTW, an ambassador just has to be willing to help. It's a rank based strictly on social engagement. If it were based on knowledge of websites and affiliate marketing, I'd be applying for your new program right now. ;)
Carla, you are the best.
You would be worth 75% just to hang with... lol
Oh, and it's not My Program... It's a Fishing Trip... so far... no nibbles.
I think it is a wonderful idea. It would be great to have someone 'on hand' with knowledge and advice to get you started. One on one would be great!
Yeah, it would.
But, of course somebody has to step up to the Mentor Role.
If it became a Bidding War for a Mentor, How High Would You Go?
I wouldn't care to be a mentor at some point. I just don't feel I know enough to be all that beneficial right now.
Hmmm, a bidding war. Well, I'm not sure. I guess I probably wouldn't want to go more than maybe 30%. That's what you meant right?
I mean, we are here for a reason, to make an online business and to make money.
I guess if it was short term I might go higher. Say 40% for the first 30 days and then 25% for the next couple of months. Anyway, that's my 2 cents. :)
Angela, thank you it was worth more than 2¢.
I would not like be a mentor right now either. I couldn't guarantee that I'll make $1,000 myself next month.
So, if you had a Mentor with a proven track record and they said, "Angela, I like your style, I can show you how to earn $5,000 in Nov. I'm going need 30 days and a 50% Fee".
What would you do?
I would do it. If they are sure they can make me even $200, I would do it. I mean, right now I'm making nothing. If my mentor can show me, motivate me, and hold me accountable (push me); then I say it's worth 50% of what they show me how to make.
In my eyes, I have nothing to lose. It's payment on contingency like in a lawsuit.
Exactly, 50% of something is better than 100% of Nothing.
I'm not sure if $200 would entice the person that could really deliver.
Who knows...maybe...
lol, true. I was just meaning if they can show me how to make any money then I would be ecstatic!
That is a very good idea but I have no clue how to efficiently institute such a proposal. I know I need a mentor. I help other members here but only on the issues that I have experience in solving. I do try though. I believe in paying it forward, planting a seed, then in the future reap the harvest.
Yes, I agree 100%. I think this is an excellent community of wonderful people. Intelligent, hardworking, helpful, friendly outgoing.
I'd still like a Mentor. I think you might as well.
Let's see if there are any Mentors that step up to the plate.
I have a feeling they are going to be very, very popular.
Interesting points Phil. But is not the training here our mentor? If followed correctly that is.
The only benefit I could see would be a mentor getting you earning money quicker, but how to do that?
Would the mentor select the niche and jump-start it for you to where it has ranked and started earning?
Would love to see this fleshed out a little more.
Good questions Ben, a Mentor starts from where you are. They would work in conjunction with the lessons, to make sure you got the essence of them. The Core Knowledge Base.
They Advise, and Direct you in the Path of Least Resistance.
They're not supposed to be omnipotent, but they should be able to get you where you need to get to.
Yes, it is a Jump Start to Earnings.
No earnings, no 25%.
I would tell my mentees, "If you're not earning... It's my fault...You Can't Fail"
Phil, if I can mentor myself to $1000 a month then I would gladly help someone do the same. But I do believe anyone here can do this for themselves.
It was pointed out that it could take up to a couple of months. It was suggested to have the courage to change tact if your initial niche was not working.
Personally when I have to pay a monthly premium to learn I am more focused to do so. Give me the information in a free ebook and I don't even read it. The very first dollar you get is the defining moment, the point at which you realise that this does work. It is by far the hardest dollar to make.
I believe I have to put in the hard work myself. There is more than enough help here for getting that first dollar.
In the meantime you could check this out as a real world example:
http://www.nichepursuits.com/niche-site-project-1-overview/
Ben, when I started at WA, I projected 3 months to start earning. If I could have found a mentor in September (and I looked) I would have signed up.
Can I do this on my own in the WA system? I believe I can.
Can I get there Faster with a Mentor? I believe I could.
Most people want to get there sooner rather than later.
Pull is better than Push. Meaning somebody can pull you up to their level faster than You can Push yourself up to that Level.
Do you believe that is true?
I believe I learn better from the mistakes I make. I do know what you mean though. I wonder do all the successful ones graduate away from WA?
There is one person mentoring anyone who signs up under him to their first sale.
I would be happy with that.
Ben, whatever floats your boat.
I don't know where they go, I know they haven't popped their fuzzy little heads up here yet.
"How Valuable are You"
My self worth I put a very high value on.
My value as a Mentor here on WA, hardly anything. I'm in the Mentee position at the moment.
I need a Mentor, that understands the real meaning of what a Mentor is supposed to be.
I Need A WA "Jaws".
Do you know of any?
I understand we are assigned a mentor but I have never been able to find out who my mentor is. It has really been on my mind since I read your last post about mentoring. I do want to get to the point that I can mentor someone but, right now, I need someone to go to. Doing it all on my own is tough. It's only this community that keeps me going sometimes. I feel like I have a thousand mini-mentors and it has been my saving grace. I've said this before, I think you will make an excellent mentor one day!
"I understand we are assigned a mentor"
That's news to me.
The problem I see with 1000 mini-mentors is you can get 1000 different opinions, and you've got to figure out who to trust and who to follow.
Give me one Mentor please.
I thought we were assigned one. Maybe I misunderstood. I do pay attention to everyone's opinion and realize not all of them are in my best interest to follow. That being said, I have gotten new perspectives from people and that is very valuable!
Beyond any doubt.
But how many times have you been taken down a blind alley, even with the best intentions and all of the experience you could hope for?
I think that's an awesome idea, Mentors could mentor as many they can handle and in time the mentees can become mentors to a group of newbies and on and on. Win win for everyone:) Great post Phil:)
Thank You, doesn't one Go To Expert and Friend, sound like the way to do this?
What would it be worth to you?
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Hi Phil great article and I'm curious what were the 4 questions you learned from "Jaws"?
I've been waiting for somebody to ask.
Matu, I'm not going to keep you hanging for long, but I want to see if anybody know the 4 Questions. They would have to know, because nobody is going to guess them.
Very nice anticipation Phil :-)
check your PM