What is the Value of a Mentor? Answer $4 million

Finding a mentor is like having someone deposit $4 million into your bank account. Only 24% of the wealthy in my study were fortunate enough to have had someone mentor them in their lives. Of this 24%, however, 93% attributed their enormous wealth to their mentors. The average net liquid wealth of the 233 rich people in my research was $4.3 million. This means the value of their mentor(s) was $4 million.

Mentors do more than simply influence your life in some way. They regularly and actively participate in your success by teaching you what to do and what not to do. They share with you valuable life lessons they learned either from their own mentor or from the school of hard knocks. When you think about the value of finding a mentor, now you know the answer – $4 million. Finding a mentor is one of the best and least painful ways to become rich.

So how do you go about finding a mentor?
The easiest way is to find someone where you work who is outstanding and ask them to be your mentor.
“John, I’ve been watching you for some time and you are very good at what you do. I would like to follow in your footsteps. Would you be my mentor here at work?”
How could John say no. John will be very flattered and say yes. Being a mentor is not a one-way street. Mentoring helps the mentor become a better teacher. You have to really know your area of expertise to be able to teach it to someone. Being a mentor benefits both parties.

As the mentoring begins, your relationship with your mentor will grow strong. In time, the mentoring will move beyond the workplace and the lessons your mentor will share with you will move beyond the workplace as well. Your mentor will teach you about success both inside the workplace and in life. He or she will share with you their morality, success principles and daily habits. They will share with you the mistakes they’ve made and the life lessons they learned from those mistakes. This means you won’t have to repeat their mistakes. You won’t have to attend the school of hard knocks. Mentoring is like paving the road to success with a smooth surface. It removes the rocks and potholes. It removes the detour signs. Mentoring is the most direct map to your financial success.

But what if there is no one at work who fits the bill?
There are other ways to find mentors in life. Join a network group. Network groups are a great way to meet new people both within and without your field of expertise. Over time, your relationships will grow stronger and you will be able to identify outstanding individuals who can act as your mentor. Volunteering at non-profits or civic organizations will introduce you to individuals who can become your mentors in life. Many wealthy, successful individuals sit on the boards of these non-profit organizations or work in the various committees that every non-profit has. In these nonprofits you will find that outstanding individual who can act as your mentor. Trade groups or trade organizations are another avenue to finding a mentor in your industry. Getting involved in these trade groups will expose you to many individuals.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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