The Power of Mentoring

Whenever I have achieved exponential growth in my personal life or my professional life it is usually because of one of two things, I have immersed myself in the topic &/or I have been mentored.

Because I have experienced the power of coaching & mentoring in my life I am a big advocate of it.

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Why struggle to do something new or to take our lives or business to the next stage when we can ask someone whose has already been there how they did it?

It’s not a sign of weakness to say I haven’t done this before, can you show me how you do it? It’s smart to find the fastest, easiest route to our destination.

As children we asked questions all the time when we were curious to learn something new but as adults we assume we should know everything.

Let me save you the bother. Nobody knows everything about everything so don’t fall into that trap.

But everyone (including you) knows more about some things than others. The trick in life as I see it is to find people who know more than you and/or are more experienced about a topic and learn from them.

“If you ask any successful business person, they’ve always had a great mentor at some point along the road.” ~ Richard Branson

Whenever I have achieved exponential growth in my personal life or my professional life it is usually because of one of two things. I have immersed myself in the topic and/or I have been mentored.

I have been both coached and mentored in Book Arbitrage and that is why I am such a big fan of it. I am a product of it.

When I was asked to join the Mentoring Team I was deeply honored to be a part of this team that has made such a difference to myself and Tom both personally and professionally.

It’s wonderful to finally be achieving the kind of success we always dreamed about. If you know my story, you’ll know that wasn’t always the case!

We (myself & Tom) signed up for mentoring again last year. We had achieved our yearly goals ahead of time and were excited to kick our business on up to the next level.

I love being mentored as I mentor, for two reasons. One, obviously is to learn from someone who is further along the road. If I’m on the road to Memphis from Nashville why not ask someone whose made that journey and is now sitting in Beale Street sipping cocktails? Yum!

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I find it’s invaluable to be able to ask someone whose made the trip what wrong turns they took so that we can avoid them and then consider where we are delaying ourselves now we are on the same road?

“You can’t join the dots looking forward, you can only connect them looking backwards.” ~ Steve Jobs

Since our mentors have traveled our roads before us, they can easily join those dots for us.

Everyone no matter how accomplished they become form habits that work and habits that don’t in their business.

The second reason is to become the best mentor I can be. I have got to keep learning and growing myself in order to help others learn and grow.

I have a quote that hangs on the wall in my office that says,

“Tell me and I forget, teach me and I may remember, involve me and I learn.” ~ Benjamin Franklin

That’s how success is achieved. By getting involved.

What you can do today and every day is immerse yourself in learning the processes of your business until you are an expert in them. That just makes sense, right?

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Next, consciously surround yourself with other successful people in this business by being involved in our community. Schedule time to reach out to others by posting in our private Facebook group where we are all are achieving alongside you. It’s true that we are who we spend time with and success is a way of life in our community.

“If you don’t find a way to make money while you sleep, you will work until you die.” ~ Warren Buffett

That’s what we’re all doing here, making money online while we sleep. So let’s continue to build the best community on the planet for success and help each other achieve our dreams.

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Smart Enough To Be Dumb

It’s not the things in life that we don’t know that thwarts our success most in my opinion. It’s when we think we know more than we do that trips us up.

Luckily for me I don’t have to try hard to be the dumbest one in any room.

That is not meant as a disparagement of me in anyway. I like it because it means I always remain open & I don’t assume I know more than I do.

“If you stay ready, then you don’t have to get ready.” ~ Will Smith

I am always ready to learn, to grow, to hear new points of view & to consider & absorb something new that hasn’t occurred to me.

“Progress is impossible without change & those who cannot change their minds cannot change anything.” ~Unknown

This idea has stood me well in life & because of it I have found myself in some pretty interesting rooms.

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It’s not the things in life that we don’t know that thwarts our success most in my opinion. It’s when we think we know more than we do that trips us up.

This can mean that we are blind to our weaknesses, ignore warning signs of imminent change in a marketplace or can become complacent & slow our progress.

Think about it. When we’re reaching for new success we’re committed, hungry & inspired.

If we are no longer striving in some way then our ‘edge’ may be missing. This results not only in a slowing down of professional & financial success but much more importantly personal success!

In our Book Arbitrage Community I am fortunate to share time with some of the smartest people in the industry – Jon & Luke & the other mentors.

I remember reading an article written about Henry Ford when he was on the witness stand & the lawyer was trying to undermine his intelligence.

I thought his answer was genius.

“If I should really WANT to answer the foolish question you have just asked, or any of the other questions you have been asking me, let me remind you that I have a row of electric push-buttons on my desk, and by pushing the right button, I can summon to my aid men who can answer ANY question I desire to ask concerning the business to which I am devoting most of my efforts. Now, will you kindly tell me, WHY I should clutter up my mind with general knowledge, for the purpose of being able to answer questions, when I have men around me who can supply any knowledge I require?” ~ Henry Ford

Boom! That’s how I see myself. Not as Henry Ford but I am surrounded by a mastermind group who are excelling in my chosen field.

I learn from Tom. I learn from every other mentor.  I learn from my accountability group in Book Arbitrage.

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I always learn something new when I go into our Community Mastermind Facebook group. I learn from every live session. I learn from every interaction with people I mentor.

I don’t call the people I mentor students. They are entrepreneurs. We are not working together to learn to be a professional student. We are working together to co create & foster entrepreneurial excellence in book arbitrage.

Not only that but our entire community is a Mastermind group for me because I learn from everyone without exception.

So you see. I don’t have to have all the answers. Phew! I am surrounded by them.

We are truly fortunate to have so many outliers, success stories & leaders of the industry in our community.

It’s our way of life. Like anything, it is important to apply what we learn & to contribute to our community in order to really thrive.

That is the Mastermind principle in action. When you give you receive.

So ask yourself how you contribute to our ever growing success Mastermind group already & consider how you can give more & wait til you see what happens…

It will blow your socks off which is the kind of success I love lol!

Next, I will discuss the power of accountability in our success….

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Learning From The Best

Why struggle to figure out how to get there when someone has already walked the path you are now walking and they can help guide you along the way.

“If you ask any successful businessperson, they will always (say they) have had a great mentor at some point along the road.” – Richard Branson

Mark Zukerberg, Bill Gates & Richard Branson have all talked about the benefits of learning from mentors.

No matter what stage your business is at, a start up, established and/or expanding, learning from someone who has done it before just makes sense.

It amazes me still how some people view asking for help as a sign of weakness instead of the smartest thing to do.

Why struggle to figure out how to get there when someone has already walked the path you are now walking?

The biggest investment you ought to make by far in any business is in yourself. No business plan or any amount of money can overcome a confused mind.

Think about it. You can have a co pilot in the plane with you who is vastly more experienced who can show you how to fly a plane or you can jump into the pilots seat by yourself and either crash & burn or take a lot longer to land safely at your destination. Your choice.

“One of the greatest values of mentors is the ability to see ahead what others cannot see and to help them navigate a course to their destination.” — John C. Maxwell

In our Book Arb community we have both coaches and mentors who are showing us the way in specific detail. Because they are in our industry and not just general business mentors they are keenly aware of the specific challenges we meet.

Their attitude to the person is “‘Let’s go do it,’ not ‘You go do it.’ How powerful when someone says, ‘Let’s!’” — Jim Rohn

In addition to all the other supports in our community this kind of mentoring delivers awesome reinforcement. Their intention as I continuously experience it is not just to empower us to make book arbitrage a successful business. They are actively developing entrepreneurs which goes far beyond this current business model.

Their vision is much more expanded than book arbitrage alone and it is a privilege to be a part of such conscious empowerment. Jon & Luke are changing lives forever.

“Vision is the art of seeing what is invisible to others.” ~ Jonathon Swift

They are changing the way we see ourselves and providing the practical steps to achieve our goals. It really is incredible.

If you are in the Book Arb community, in addition to buying books to grow your business, be sure to invest in yourself so that your business and you expand side by side.

That is the formula for success i.e. constant expansion and in our community success is the culture. How can we fail?

Next week, I will discuss the importance of challenges in your business and why they are a positive.

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Working Smarter, Not Harder

We are both aware of our strengths and weaknesses and have designed our business around us. We do what works best for us and that is why we enjoy it as much as we do and why we are becoming so successful with it.

“Just because you work more, doesn’t mean you get more. That’s why you need to work smarter, not harder.”   ~ Paul Chucks

Everyone hears that phrase work smarter, not harder and agrees. It’s obvious, right? But is it? How many people actually apply this in their lives? Only when you apply it in your life/business do you know it, as one of my mentors says.

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When it comes to this system with book arbitrage the guess work has been taken out of it in terms of the actions to take. For me this gives us all who use this system a huge advantage as so many dreams fall by the wayside not because people aren’t willing to take action, but they don’t know which actions to take.

“Effort is important, but knowing where to make an effort makes all the difference.”   ~ Unknown

With the correct action steps already spelled out for us collectively let’s dig a little deeper to see how we can then apply these in an individually smart way.

As individuals we all have our own strengths and weaknesses. Are you aware of both your strengths and weaknesses? What are you naturally good at and what is challenging for you?

Once you figure this out in your book arbitrage business it is easy to devote more of your time to doing the parts that bring you the most satisfaction and thereby profitability i.e. your strengths. It also allows you to delegate the other tasks i.e. your weaknesses in the business, either immediately or over time depending on your budget .

This means you spend most of your time being productive, feeling good and getting results. The joy is in the journey and not just the outcome and your quality of life and confidence automatically increase too – almost instantly.

Any time you spend on your business is time you never get back. So it must be the best use of your time. Enjoying your role in it will make it feel like fun and not like work at all. Now that is smart!

If you take the 10 minutes or so to do this exercise your role will become clearer not just for today but every day in your business. With this awareness you can design your business around your strengths and weaknesses and that is how big success is achieved. It ends up being pretty effortless as you mostly do what you enjoy.

This is not to say that you ignore your weaknesses. On the contrary, once you are aware of them you can either allocate time in your schedule to do those tasks (when you are a small operation), say once or twice a week and then you know they are handled or allocate them to someone else who does enjoy those particular areas.

“Success is achieved by developing our strengths not by eliminating our weaknesses.”   ~ Marilyn vos Savant

This strategy really freed me from the tyranny of fruitless efforts. I used to think I had to shore up my weaknesses and spent an inordinate amount of time ‘trying’ to improve those instead of expanding on my strengths. Talk about frustration and hard work. Doh!

Now, however, since the very beginning of book arb I am very clear on my role as I am aware of my strengths and weaknesses. I enjoy my tasks as I am good at them e.g. buying/selling books, repricing, online networking, blogging etc.

I am also happy to delegate my weaknesses e.g. setting up spreadsheets, statistics, sorting out returns, setting up a website for this blog etc. It turns out Tom is brilliant at those tasks and loves doing them. Win-Win.

We are both aware of our strengths and weaknesses and have designed our business around us. We do what works best for us and that is why we enjoy it as much as we do and why we are becoming so successful with it.

Going forward we are both looking forward to delegating even more of our tasks to others who love those roles too. This will free up our time even more and allow us to enjoy the lifestyle we are creating. Book arb is about TIME and MONEY FREEDOM equally for us.

What are your strategies for working smarter, not harder? Be sure to do this exercise for being clear on your strengths and weaknesses today and not just intellectually agree that it is a good idea to do. It only works if you do it.

Being crystal clear about these and using them to your advantage is another essential strategy for easy success. Success isn’t hard once it’s clear. It’s simple and obvious.

Next, I will break down the exact way we are buying books to great effect.

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