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Do you think a mentor should charge for his knowledge or give it for free?

ChrisV

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Absolutely, but I'm guessing (and it's really just a guess) that those 1:1 things are probably not for the money.
Yea exactly. I mean if Jeff Bezos (or whoever) is asking you for coaching.. you just do it. If nothing else it's an awesome thing to add to a resume.
 

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Anit999

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In my opinion, a mentor should charge for his knowledge. The reason is that there is something inherent in people's mind that free is not good. A mentor can apart his/her knowledge for free but there is a high chance that the advice would not be followed. However, if someone pays for a mentorship, it implies that the person is really serious about it and if it is not one time payment but a subscription, then the person would be more motivated to finish the mentorship or course to avoid the next payment.

This is clearly mentioned in "Think and Grow Rich" and I also have the experience of the same. I learn a lot from Coursera. Whenever I pay for the course, I finish it. When I dont, I usually dont finish it
 

FierceRacoon

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What a ridiculous question! Of course they should charge.

Should musicians charge for playing music? How about painters, should they just paint for free? How about high school teachers? Of course, a mentor should charge for mentorship. I cannot see, on what basis would one suggest that mentorship should be free or suspect it if it is free? Unless, of course, some other kind of value is being provided such as equity in a startup given to an advisor.

If you take stories about Zen or martial arts masters or famous renaissance painters and their apprentices, the apprentice would work for the master — all day long. It often involved chopping wood, carrying stones and any other number of chores. It often required a full commitment for a number of years. How can you expect something as significant as sustained guidance from a master in your area to be given for free? How is it fair?

There may be exceptions e.g. when a teacher is representing a religion and is living on donations; still, then you have to usually commit to a particular lifestyle. You have to be paying in some form, whether monetarily or through a sustained commitment.

When people give free advice on a forum, it is not "mentorship". It is casual advice. It does not rise to the level of mentorship because there is no deep understanding of the student and no long-term teacher-student relationship. Have you ever taught anyone? I know, it's fun the first ten or hundred times, but those first times you are not a good teacher yet, so you enjoy the teaching because it is a new experience. But past that point, have you ever taught anyone for any significant length of time? It is work like any other — it takes thought, effort, dedication, answering the call or coming to meet your mentee when you are sick and so forth — and it improves somebody else's life, relationships, income, or career success, not your own. Why on earth would you not be paid for it, if you specialize in guiding another human being? And if you only do it casually, occasionally, and for a short period of time, then you are not a master teacher but are just experimenting with giving random advice. That random advice will not be that useful until you go through the learning curve of learning to adapt your life experiences to many other backgrounds, so the quality of your mentorship will be very poor; that is why you may not be charging for it while you are still learning, how to mentor others.
 

FierceRacoon

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That's why a lot of the great coaches and most successful people don't do one-on-one coaching. Tony Robbins is a good example on the coaching side -- he can make $1M per day giving a private group session and much more than that hosting his big events.
This is nonsense, sorry: if you don't do one-on-one coaching, you cannot become or stay a great coach. (There are exceptions in the sports, but you'll understand what I am trying to say.) You need the experience of working with the same person for many years, seeing the effect of your coaching, analyzing their progress, trying this and that. You need many such experiences in order to really know, what works and what doesn't. Greatness has a price, and it involves sacrifice, including sacrificing more profitable opportunities.

It is relatively easy to take a person with a strong character, an aspiring entrepreneur, and help them make a few tweaks here and there. Try taking someone who is naturally introverted, impractical, just not your natural entrepreneur type, and already in their 40s. Now try coaching them to a multi-million success 10 years later. Again, it is relatively easy to take a person with certain kinds of phobias, use on them some hypnosis or NLP and unblock a particular blockage. But try taking someone who believes "money is evil" and guiding them for years until their worldview gets reconstructed one tiny bit at a time.
 

Brewmacker

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Upon advice from another FLF'er, I am currently reading this book with keen interest. Maybe it has some answers for you:


It is a book worth reading twice. There should be enough information in there to help you answer your own question as it comes down to personal preference, long term goals and in the end who you want to be.
 
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Out of curiosity...
Well, a mentor who charges is called a "Consultant" in the business world. If the guy or gal or whatever the hell millenials call people today is mentoring lost kids who come from broke, deadbeat families, then he's probably not going to charge, as you can imagine. That is called "mentoring".
 

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