Mentor and Coach Are Critical To A Real Estate Investor's Success!

By: Michael Shuster
Submitted: 2008-12-02 12:19:28
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DON'T BE A HERO – YOU CAN NOT DO IT ALONE!

Consider the most successful people you know.  Whether you are thinking of a famous business executive, your boss, a relative, or anybody who you believe has achieved their own goals or dreams, and if they are successful I GUARANTEE you that they did not get there alone.

Donald Trump didn't get where he is because he is the best at every position in his organization.  Although he is a brilliant businessman, one of the smartest things he did to build his business, was hire the very best people for every role or job function that he needed filled in his organization.

Tiger Woods could practice endless hours at the driving range, if that was his choice.  But he still needs his coach, his trainer, and his caddy.

Henry Ford said; "Coming together is a beginning, Keeping together is progress. Working together is success."

Did Bill Gates build Microsoft all on his own?  Did Sir Richard Branson build his Virgin empire all by himself? We all know Martha Stewart built an empire, but I guarantee that there were hundreds of people behind the scenes who work on her team.  The same can be said about Oprah.

           Wealthy and happy people make the spark;
                 Other people make the blaze.

In any market that I consider investing in, I won't even consider investing money until I have my trusted Power Team in place.  In every market, I must have my agent(s), my property manager(s), my contractor(s), my lawyer(s), my title company, my bird dogs (property hunters), etc.  I can't do it alone.  And neither can you.

Although the masses might not believe in the same things you believe in, or believe that you are able to achieve what you desire, there IS somebody out there somewhere, who shares the same goals and/or the same frustrations and obstacles you currently face.  You must find people who want to see you succeed, while at the same time are supportive and
non-judgemental.

Studies show that we become the combined total of the five people who we most closely socialize and spend time with. You have to find more people to add to your circle of friends, who are better aligned with the type of supportive character(s) you want to surround yourself with.

When I began as a Real Estate Investor, 98 out of 100 people in the courses that I paid to attend, tried and failed at real estate investing, and then quickly gave up.  They spent a lot of money and time to educate themselves, and then when they realized that it was a bit tougher than they perceived it to be, they gave up. Most people around me became (as one of my mentors calls them) ‘red-lights'.  These are the people that try to stop you from what you are doing.  One friend told me I had been watching too many late night infomercials.  Relatives told me this is the worst time to get into that business because the market is plummeting.  What they did not realize is that is the best time to take advantage of buying real estate at extensive discounts. I don't blame them for not knowing this, as they are not real estate investors. 

Because I wanted to be happier, more positive and optimistic, wealthier, and gain all of that through the wonderful world of real estate investing, I also made a conscious decision to find more people to associate with who were like-minded.  

Success not only depends on what you do and how you do it, but also on who you do things with.

Let me share an idea with you on how I accelerated results for myself, so that you can do it to!

GET A MENTOR!
I set out to find a mentor. Every guru, successful business-person, professional actor or athlete, or real estate investor, who has succeeded in realizing their dreams or achieving their goals, had a mentor at some point during their career.  Some continue to have mentors and some have multiple mentors.

Mentors can be people you know personally, people you can talk to on the phone, or simply people elsewhere in the world, that you might have studied extensively through reading and research.  I have some mentors who I learn from via tele-seminars, webinars, newsletters, or books, yet I haven't met them personally.  I can relate to them, their information makes sense to me, and they break down the steps for me.  This last part is critical, because if a mentor isn't able to help YOU succeed in a systematic way, then they are not a mentor, they are your hero or your idle.  Whenever possible, I try to find mentors who I can actually meet with and talk with, but that isn't a necessity for all of your mentors.

One of my mentors is Robert Shemin and his latest book is called "How Come THAT Idiot's Rich And I'm Not?  I am proud to say that I am friends with Robert. Robert has made his money through real estate investing, and achieved a lifestyle that most of us only dream about.

When I first learned about Robert Shemin, he was an instant mentor for me.  He had realized enormous success in the exact same things I wanted to succeed in myself – real estate investing, public speaking, coaching, writing best-selling books, and he lived a stress-free lifestyle, enjoying considerable time with his family and friends. 

The first thing I did was register for one of his courses. Before flying to Las Vegas I called Robert's office.  Much to my (pleasant) surprise he replied within hours. I indicated that I was registered as one of his students, and I would like to take him out for lunch on one of the off days in Las Vegas, to discuss an idea that will provide specific benefits for his business. Of course, I did a bit of internet research and had legitimate ideas to offer him.  Never be a fraud or a fake!

Robert set a time to meet me for lunch right then and there.  I flew to Las Vegas, and I met Robert for lunch. The first thing I told him was that I had a mission.  My mission was to make him look good as a real estate investment instructor and mentor, by becoming his most successful student /apprentice ever.  He was very thankful and seemed genuinely wanting to help. I now have his personal cell phone number, and ask him for advice regularly.

Regardless of how much money Robert Shemin has (and compared to me it is A LOT!), he is not arrogant, rude, demeaning, or disrespectful to anybody.  Just the opposite - he treats everyone with respect.

Talk about the ultimate mentor!  You need the same.  Did I mention something called the Internet?  Google your way to new mentors in the fields that interest you.  See who the leaders are, and what they stand for.  Try to uncover their values, their beliefs, and how they became who they are and arrived at where they are in life today.  Then reach out to them.  Call them or email them.  What is the worst thing that can happen?  You might not be able to reach them, or they might not be all that you thought they were cracked up to be.  You can always keep trying to find new mentors and role models.  If all else fails, feel free to contact me.  I am more than happy to help you the same way Robert helped me.

Abraham Lincoln once said, "things may come to those who wait, but only the things left by those who hustle."  So what are you waiting for? 

Still not convinced?  Let me sum up the many advantages of finding a mentor for you.
-    They offer a vast array of experience for you to learn from
-    They help you clarify your goals and methods
-    They might even make you justify why you are doing something, which helps you think things through and remain focused and confident
-    They are usually much more connected, due to their years of experience, than you are and could connect you to the right people and hear what is new or developing in your field of interest before you might
-    They are impartial.  They have no vested interest in what you do so they are not biased or competitive with you

Here are a few ideas about finding and selecting your ideal mentor(s).  Please do not simply target somebody to be your mentor, simply based on the amount of money they have or the number of people they know.  Make sure they have a proven track record in the field that you are hoping to learn from them about.  Do you want to take financial advice from someone who hasn't accumulated wealth for themselves? It should not cost you a lot of money to solicit their assistance.  In fact most people would be flattered, as long as you are respective of their time. 

GET A COACH TOO!
A mentor can give you ideas, save you from pitfalls, and provide a wealth of information.  Very often a mentor won't be able to offer the time that is necessary to help you stay on track.  A mentor can tell you what works for them and point you in the right direction.  A mentor can NOT necessarily identify your learning styles, your weaknesses and strengths, and develop a custom plan that works for you.

Winning in [team] sports is not about finding a coach who knows the most about the sport, and demands discipline from the players on the team.  Winning is about having a coach who recognizes that the team is comprised of many individuals with unique talents and flaws.  Each individual has unique learning styles, and unique circumstances in life. The winning coach realizes that, if he wants each player to accept his guidance, trust in his leadership, and offer the respect he deserves, he must respond to each player in a unique manner. 

Enlisting your own ‘personal' coach is not much different than finding a good ‘team' coach.
A personal coach will still help you:
-    Identify your strengths and weaknesses.
-    Focus on building on your strengths,
-    Devise exercises, practice drills, education, and methodologies, to help you improve and develop some of your personal weaknesses,
-    Identify your unique learning style, tolerances, and personal circumstances, to determine the appropriate motivators and trigger points that will affect your personal development.

Michael Gelb, author of "More Balls Than Hands" provides the following clarification between a coach, a teacher, a manager, and a leader.

Coach: Understands and guides the learning process.  Acts as a catalyst/facilitator, making accomplishment easier.

Teacher: Gives instruction or imparts knowledge.

Manager: Monitors, measures, and controls the process of achieving goals.

Leader: Sets the vision and inspires its realization.

To find a great coach, you must find someone who is a great teacher, manager, and leader!

Article source: Expert Articles