Mentorships

Ask us some concrete questions or atleast provide some more information then "I have this great idea".


An idea is worth around 10$, a good execution of an idea is worth 10,000,000$

>>1551962
I find how you placed the $ after the amount to be a probable indicator you don't know the first thing about money bro... I had answered your concerns too but yeah

>>>>1551985
Basicly you want to scam some millenials out of their money


i have added you, personally i am not really interested in it as a bussines opportunity
but im willing to give you some advice

>>1551958
There is a Tim Ferriss podcast and blog post specifically about mentorship, and apprenticeship.
Have you read or listened to either of them?
The main takeaway relevant here, is that the whole idea of 'find a mentor' has become so popular now, that he and many other 'gurus' advise against asking explicitly for a mentorship.

Tim himself receives over 100 emails a day just from people asking for mentorship or investment, despite publicly stating several times that he has enough investments and doesn’t do direct mentorship, just guidance.

He says to approach it casually, to actually network and make friends.
Don't seek a mentor you wouldn't enjoy having a meal or drinks with, or a chat anyway.

It has never been easier to ask successful people questions, so what specific guidance do you want?

What 'tricks of the trade' are you referring to?
Most of a gurus advice may seem vague, but specific advice comes at a potentially heavy cost - liability, litigation, etc and the fact that if it is too specific, they are accused of a 'one-size-fits-all' approach - not relevant to X or Y.

You want somebody who had success in one field to tell you how to be successful in any field? But don't want general advice?

One Amazon reviewer on the Four-Hour Workweek rated it one star and said 'this is only relevant if you want to sell things' - NO SHIT?!
You're either selling a product or service or your time. End of list.

This is the crux of the issue - most information is not rated on the progress the viewer/reader/listener made with that information, it's based on misunderstanding or assumptions.

>I have a couple of ideas that are halfway fleshed out
So does everybody else. How are you different?
Flesh them out and start pitching. You don't need permission from anybody to ask for money outright.

Watch the Dan Peña video on YouTube - 'financing your dreams'

>>1551958
>before anyone says go and read blah blah
If you think you're done learning, you will never make it.
You should be learning every day.
It's the only asset that always appreciates.
You can always make money learning new things.

If a mentor has a 60 minute video that will explain, say, corporate finance, you expect them to what? Summarize it? Or stretch it out piecemeal to you, so that it takes weeks?
There's a heavy time cost and 'headspace' cost to that. Sounds like work.

A mentor probably already has a GF, wife, mistress, family, friends, partners, associates, mentors and protégés or students, shareholders, investors, etc etc
You have competition for their attention.
You think most people want extra responsibility, as a named mentor?
It's quite a hard sell.

Try getting attention by doing stuff for them first, and you'll get further.

>I'd need startup capital
OK, what have you done so far? Have you applied to banks? Pitched on social media? Crowdfunding platforms? Pitched on angel investing and VC platforms? Researched funds and grants?

Where's your pitch?
Are you pitching people now?
How many people have you pitched this month, this week, and TODAY?

If you are doing none of the above, most mentors will tell you to fuck off and start pitching and maybe come back when you're serious.

>but I have no idea on how to practically market it

Is this a profitable business?
Gross? Net?
Have you studied any resources on marketing?

If you haven't, then that business hasn't been fully exploited yet.
Either pay a marketing co for their expertise, or study it and bootstrap yourself.

And any time you ask others for advice, their experience influences their knowledge, therfore their opinions.
If they raised a million before pursuing an idea, they will say 'raise a million first' - If they bootstrapped it, they will be biased towards that and will say 'start with $0-$100'

>I...have all the time in the world.
That's a luxury few can afford.
Use it.

finding a booming market, position yourself well

>>1551958
Any "mentor" worth having would laugh at 49% of an unproven concept/idea.
I have this awesome idea/product but I just need startup cash, daily communication and sales. If that doesn't work I will commit crimes to show how hungry/desperate/stupid I am. Does this sound like somebody you would give time or money to?
Your current mentality will guarantee your failure.
You will end up with free meals and a place to stay, so you will get some free shit at least.

>>1552206
Lol
You don't have money if you think depravity is not only one degrees of separation from determination
>>1552108
The most sound advice anyone's given on /biz/ ... or than in general for that matter
Thank you

>>1552512
No problem.
AMA btw.
Also, Steve Jobs said once if he didn't make it in business, he would have become a criminal, possibly a bank robber.
He was very serious.
He said he had the exact same mentality and personality profile.

Also, my favourite simple mentoring advice is to find the most successful person you can and offer to take them to lunch, so you can just pick their brains (and consciously or unconsciously, you will 'model' or 'emulate' them) don't commit to anything else, because a commitment works both ways they may take offence if you meet someone more successful who you want to learn from and want them as a mentor.

That other guy may put the word out you're flaky. The pyramid gets very slim at the top.

Toes you step on today, may belong to the ass you kiss tomorrow. I can't work with companies that involve Richard Branson or any Virgin brand or partner. That's hard, because he is so revered and has so many connections. The billionaires club is pretty small, so there's a level of partner I avoid because I don't want that exposure.

Anyway, just take someone successful guy or girl out to lunch, even better dinner, say you wanna talk business, some informal advice, perhaps on pitching, but don't pitch him yet, let him be curious if he wants to invest. You can 'soft sell' successful people this way for a while - you get to polish your presentation skills, get some advice, and maybe a contact from him that may be interested, you can pay his bill, or he can write it off as a business expense, and he's gonna eat anyway.

Do you want your first potential million dollar deal to be discussed with you sitting there awkward because you are not in the habit of going to a nice restaurant or bar, or a boardroom/office?

If you're that 'green' they can smell it on you. If you sit down and just start chatting away like it's business as usual, just another pitch, another deal.