Learning to work for free: the things to consider when looking for a mentor

[Lee Arnold]

One thing that I learned many years ago was a lesson from the book Rich Dad Poor Dad and that is to work for free. Now I'm not the kind of guy that had no self worth or sense of value for myself so this is not a discussion post about building your self-worth initially. Doing this required a lot of self-worth but it also means knowing how to be humble which is important in this business. 

I was a student at the University of Houston looking for a "home", my niche that would be a marketable skill that not many people possessed. I found that with the forensic society (not the crime scene type but speech and debate) and started working my craft. I love public speaking and constructive argument which is what the organization was all about. After a few months I realized that the team needed some reorganization and stronger internal leadership and pushed myself to be that person. The position I created for myself was an office worker, which they had as a paid position as part of the team, but I was doing it for free. 

There were a few key things I want to share from the experience that I think are important for newbies, like myself, to go for when trying to find a mentor:

1.  Be willing to skip a paycheck - this is the biggest thing, if you can learn to not get paid in money you can focus on the skills you will learn from your mentor (the best form of payment). 

2. Be on the lookout - by not focusing on a paycheck you learn to look for opportunities to generate money. Mine was being able to teach classes on public speaking and now if I wanted to I could charge $100s or $1000s as a debate coach. 

3. Be ready to receive advice - your mentor will give you nuggets along the way and if you listen carefully those nuggets will stay with you for life. It's the kind of wisdom that comes from experience and a lot of times failures that you, as a new investor, should not repeat

and lastly, 

4. Be a good "mentee" - respect is a two-way street, you need to have respect for your mentor and they should have it for you. They key is to earn that respect from one another. You should do it by being respectful of their time, their money and their goals. Work to help them hit their goals and they should do the same for you. The relationship should be one of mutual benefit and that means your are providing value to each other. 

I don't claim to be an export but I think it is important that we share our experiences here and since I'm new to the process of investing, I can share the knowledge I do have. Hope it helps.