When you get good enough at your job, you may come to a point in time when someone asks you for mentorship.
Mentorships aren’t very time-consuming, but participating can yield rewards. A successful mentorship can be as simple as a meeting once a month.
Why Become a Mentor?
While mentorships are supposed to benefit mentees more than mentors, it can work both ways. Even 30 minutes a month is enough to leave a lasting impact on someone else’s life, as well as your own.
A Fresh Perspective
Your mentee’s fresh perspectives can cause you to rethink your strategy with potentially lucrative results.
Working with investments for a long time can cause you to develop a routine. Maybe you flip homes or maybe you’re a landlord for low-income properties. When something works, it works, and there’s no pressing reason to change it. We’re experts in playing it safe, but when successful, the riskier options have the biggest payoffs.
Your mentee probably has nowhere near the experience level that you do. Youth brings hopefulness—and, granted, naivety. However, your mentee’s questions or insights might shed light on a factor you hadn’t considered before. When your mentee’s hope is partnered with your experience, it could lead you to greater success.
Networking may not seem so important in the investment field, but believe me, it is.
I’ve mentioned in other articles how important it is for you to have a team of people as resources to you. However, there are circumstances when no one on your team is available to help you in an emergency situation. It can pay off to have a fellow investor to call who has tested out a team that they can refer you to.
Your mentorship can help your mentee reach success, and they’ll be loyal to you in times when you’re the one who needs help.
There’s Plenty to Go Around
It might seem awkward to help a competitor learn the ropes. Basically, in the world of investment, anyone who is investing can potentially steal the perfect deal from you. So, why should you help a new player?
While there are times when there are few deals on the table, you can rely on your expertise to help you come out victorious.
If you train your mentee well enough, they may find more great deals than they can possibly invest…