When most people think of mentoring, they invariable view it as one-sided: an apprentice learning from the master. But there’s a lot more to mentoring than that.
68% of the millionaires in my study mentored others. Why? Were they just paying it forward and giving back? I discovered from my research that it’s not one-sided. The truth is, mentoring is a very selfish act.
When you successfully mentor those who work for you, it’s the equivalent of cloning yourself. By training others to do what you do and helping them excel in life, you multiply your chances for success. Everything you know, every trick up your sleeve, every pitfall you’ve experienced and your work ethic, when downloaded into the mind of an apprentice, doubles your success. If you teach what you know to two newbies, you triple your success. Three, quadruples your success. You get the point. When you mentor others you don’t have to work as hard and you can make much more money. You are leveraging yourself, your knowledge and your skills. It puts success on autopilot.
What makes mentoring even more powerful is when the student becomes the master and can begin mentoring others. Mentoring creates a cycle of exponential success, making every mentor very wealthy in the process. You can think of it as a mentoring pyramid scheme, if that helps. But in this pyramid scheme everyone benefits. and no one loses.
Mentoring is one of the secret habits of self-made millionaires and successful businesses. The most successful, individuals and business owners in my study were masters in mentoring others. They created processes or systems to teach what they know and institutionalize success. It requires an investment on the part of the mentor, but once you learn how to mentor someone, you can create a process or system to mentor more than one person at a time. That’s how successful people are able to clone their way to success.