I occasionally like to mentor a willing student for the sheer satisfaction of bringing another investor into the fold.
I was reading a post where a newbie found a local mentor who was going to charge him 10k for mentoring. I thought… What the heck is that? So I had to look up mentoring and wanted to share the ‘intended’ meeting of the term as I understand it.
Merriam-Webster defines a mentor as “a trusted counselor or guide.”
Free dictionary online - “A wise and trusted counselor or teacher.”
wordnet.princeton.edu - “serve as a teacher or trusted counselor;” “The famous professor mentored him during his years in graduate school”
“A mentor is an individual, usually older, always more experienced, who helps and guides another individual’s development. This guidance is not done for personal gain.” (taken from the following article)
We need another word for someone who charges 10k for helping a newbie (aside from the obvious but include those too for the sake fo free speech). Any suggestions???
None of the dictionaries said anything about the services being free though. I have a mentor myself and I have paid $10k myself. I only use them for the networking, I don’t get anything really out of it other than that at this point.
I do agree however, in Real Estate, what you get out of mentoring is not worth the price tag that comes with it. Makes me want to become a mentor
Yes but a mentor is a counselor. You may pay for a counselor
In reality, the term “mentor” is used because it has a powerful selling proposition. Consulting has a bad rep and people shy away from paying for it so it is purely a marketing term
