The Success That Comes with Mentoring

May 23, 2014 by  
Filed under blog

Last week I started telling you the story of a young man who asked me for some financial advice. His questions and what I had to tell him was too good not to share.  Supercharging your goals is something we can all benefit from.

As I mentioned last week, you must first firmly set your financial goals and then write them down with a time dead line. After that, you can super charge and speed up your attainment of those goals by following these few easy tips:

1. Go out and find a mentor–Mentors are a must!

2. Get your feet wet and get some experience on a few small financial deals.

3. Go out and make yourself the best calling card possible.

4. Use the “Partner Path” to supercharge and speed toward your goal.

Anyone who has followed my blog over the years knows that I became so financially successful by wisely using leverage to buy real estate. I started with small houses, duplexes and small apartment buildings—usually ones that needed to be fixed up—then I rented them out and or sold them. Look at these numbers and the return on investment and you can see just how a person can make a fortune in a short time by using ten to one leverage and selling property for, let’s say, 10% higher price than the price paid for it. This can give a 40 or 50% return on your money or even more … because of leverage.

So, with this as the basic game plan I advised the young man to follow the tips I just gave him.

1. Find a Mentor: A mentor should be someone that has done what you want to do and has been successful at it. I encouraged this young man to meet with his mentor frequently and to pick his or her brain as often as he could.  He was already doing that with me but with how much I travel he was going to need at least a back-up mentor.

Now, how do you find a mentor and more importantly how can you get them to agree to be the mentor? Well, my advice is to use the Onassis model or method.  The Onassis method, as I call it, follows what Aristotle Onassis, did many years ago when starting out to meet the perfect contact so he could import cigarettes from Greece to South America where he lived then.  This is the method I used to meet the billionaire founder of McDonalds, .

When Onassis was a very young man–long before he made his fortune- he wanted to meet a top guy in the cigarette business that could help launch him into his first business deal of importing cigarettes. So basically Onassis just pestered the guy–he simply stood out in front of his office every morning then by the guys gate at night–not saying anything but just looking like he needed help-finally after about 2 weeks the very influential cigarette executive stopped and said to Onassis. “Who are you and what do you want?” From that simple approach Onassis took a giant leap forward into that business, because this top exec told him to go see the main buyer and use his name as a reference.

From that simple strategy, Onassis began his road to become a billionaire.  I used a similar but easier tactic to meet with Ray Kroc,  the billionaire founder of McDonalds. I called his office almost daily asking his secretary for an appointment and after many, many phone calls she said that Ray would meet with me but for only 10 minutes. I flew to San Diego and met with Ray Kroc walking out of his office 2 hours later. Hey, what can I say?  I just asked him to tell me why and how he became such a great success in life and business and as it turned out he loved talking about himself. Who doesn’t?

There are three more items you will want to implement in order to be super successful but let’s save those for next week. In the meantime, think about who you would want as a mentor. Who is doing what you want to do in a very successful way? And what would it take to get a hold of that person and have them mentor you?

Mentor for Success

May 17, 2013 by  
Filed under blog

Well, did you start doing it? Did you start looking for a house to buy as an investment or a place to live and profit from today’s super low interest rates? If you don’t know what I’m talking about go read my blog post from last week entitled “Money Money Money”. Maybe I should have called it “Low Rates Low Rates Low Rates”.

If you are already in a very comfortable place financially and either don’t need to or don’t want to make some easy money (I probably shouldn’t call it “easy money” it’s more like “simple money” because it does take work!), then may I suggest you talk to your kids or friends that may not be so comfortable but have the drive, desire and energy. You can be a major financial mentor for them and they will love you for doing it and you will get a ton of satisfaction knowing that you directed them and helped them.

I receive so many messages from people coast to coast and even from foreign countries, thanking me for my financial advice, for giving them the motivation to get up and get moving and for making good financial things happen in their lives. There are not many things in the world that give a person more satisfaction and contentment than knowing you’ve helped someone make major improvements in their lives.

And I’m not talking just about money. Just helping people believe in themselves and motivating them to be proactive in any and every part of their lives is what it is really about. Having a solid financial situation is certainly a good thing and can help in a myriad of ways but there is more to life than money. Bottom line … help others to reach their goals with encouragement and constant support. You will get your reward in the happiness it brings you to see them bring about what is important to them into their lives.

Others’ Success Breeds Your Success

October 1, 2010 by  
Filed under blog

You ability to succeed, at whatever it is you want to do depends very much on your dedication, your passion, and a great support system. But something that is not often talked about that seems to be an essential part of a support system is the presence of a successful, talented. Henry David Thoreau was mentored by Ralph Waldo Emerson. Frank Sinatara drew a lifetime of inspiration from his mentor and friend, Bing Crosby. Even Bill Gates who has been said to draw so much from games like Risk and Monopoly spent significant time with Warren Buffett. It’s not just the wisdom that a mentor can bring you but the fulfilling and stimulating personal connection.

It is too hard to struggle in a vacuum, aiming for a dream that no one around you carries a similar passion for. That is why the most successful people either are drawn to, or seek out, the most accomplished people in the fields that relate to their passions. Do you have someone in your life that you look up to, that can share their wisdom with you and help you realize your goals? If not, you need to seek out these kinds of people through conventions, local meetings, and industry events–any where the successful gather. If you surround yourself with the right kind of people, someone is bound to take an interest in your enthusiasm and pass on what they have learned.

Although there are amazing people whose stories and legacies are hugely empowering, that you can access through books, TV and the internet to draw inspiration from, these distant or one way relationships will never replace the energy you get from one on one time with someone who has reached a level of success you are still striving for. Being able to have a discussion, ask questions, observe, and get feedback from a person who has gone through all the trials and joys that the road to dreams are paved with has an infinitely greater impact on you. And having such a person as a friend means you have relative access to those motivating discussions and inspiring support—and a better chance of getting where you want to go.

I’ve had many o my own mentors over the years but I think my most influential mentor was Larry Rosenberg with Paul J. Meyer right behind him. You can read more about both these wonderful men in my book,How to Ignite Your Passion for Living.