What Is Your Time Worth?

November 21, 2008

I’ve been around this Internet Marketing niche for quite a while now, and I participate in a few forums. Every now and again, someone who is obviously new to the market and trying to get opinions or recommendations about a product or coaching program will ask,”Hey - how good is XYZ…?”

Legitimate question. It’s obvious that you have someone doing their due diligence BEFORE buying into a product or program.

What I really like are those that answer like this:

“Don’t waste your money. You can get all the information you want for free on the internet or in this forum.”

There’s an old saying… “Knowledge is power”.

That’s only half right though. Knowledge itself is useless unless applied. So APPLIED knowledge is power.

So telling someone who’s looking for a way to succeed that they can find all the info they want for free is only giving them potential access to the power.

There’s all kinds of value out there. Money is surely value. But so is time.

So let’s say you are considering joining a coaching program that costs $997 and you ask about whether it’s worth the money. Then someone answers “Ah, you can find all of the info in that coaching program for free all over the internet”.

That answer may be true, but then you need to ask yourself a few questions too:

What is your time worth?
Do you know how to apply the information you’re finding for free?
Do you know what your best “method” is for achieving your goals? Surely there are lot’s of methods…
Can you constantly motivate yourself to move forward - especially when you have setbacks and failures? You can bet your bottom dollar you’ll have both.

Don’t be afraid to spend money (when you have it) on speeding up your education. It’s an investment in your future. Just be sure to research your potential investment as thoroughly - and objectively - as you can.

Even if you don’t have money to spend at will, there’s other things you can do.

Bartering is alive and well on the internet. Several years back, when I was fully five figures in debt, I decided to teach myself a few things…web hosting, script installations and general webmaster duties. Then when I saw something I thought would do me good, I contacted the product owner and suggested trading their product for my time.

While this didn’t work 100% of the time (naturally), it worked more than it didn’t. Subsequently, it helped speed up my own on line education significantly…and the money came faster.

There are never any guarantees in life. Most people realize this already. But one thing IS guaranteed… as Wayne Gretzky once said, “You are guaranteed to miss 100% of the shots you don’t take”.

Time is money. And your money (well spent) will help shorten your time.

Written by Mike · Filed Under Mikes Musings

To Mentor or Not to Mentor…

November 12, 2008

…That is the question.

I don’t mean should I mentor anyone. What I mean is should you get a mentor.

This is a question that gets hotly debated in the forums and on blogs, but I have my own thoughts on this…

Mentoring success depends on many factors. MANY factors. It’s even hard to quantify it. So for starters, let’s understand some of these basic ideas…

- Are you a good candidate for mentoring? You not only NEED to ask yourself this question but you must be 100% honest with yourself when you answer it.

Let’s face it, we all like to think of ourselves as astute learners. Generally people see themselves very differently than we really are (including yours truly).

So ask yourself - Are you a good listener? Do you comprehend easily? Are you shy and won’t ask questions? Will you put yourself to the test? Are you a good problem solver? What’s the best way for you to learn? Reading? Video? Audio? Group? One on one?

All of this is important because no matter how good or successful your chosen mentor may be, if you’re not a good student and don’t ask questions…if you don’t challenge yourself, mentoring is probably not a good way to go for you.

Unfortunatley, the mentor takes the bad wrap when people don’t “learn” what the mentor is teaching, even when it’s not their fault.

That’s not to say all mentors are good teachers either. But it’s important that you also have a good rapport with your mentor. A relationship where you are comfortable asking them questions, or challenging them when you feel it’s neccessary.

- Do you know what it is you want to learn? Do you have a plan?

What good will it do you if you hire a mentor and not know what your long term goals are? No good at all. Don’t take this lightly. If the mentor you hire is any good, these are some of the questions they will ask you.

- Are you convinced that higher priced mentors will guarantee your success?

If you do, you’re in for a rude awakening. You may indeed get much better information, and a better method of teaching…but if you are not receptive, or if you believe everything should be “push-button”, you WILL be dissapointed.

That being said, if any mentor tells you that their system is hands-free, requires no effort, etc. than you are best off running. Quickly. Because there’s no such system out there that does not reqire work to be successful.

In fact, I would argue that - assuming your mentor is a good one - the more you pay for the service, the more work you can expect to do. The more advanced tactics, systems, etc. you will learn.

If you decide that a mentor is the way to go for you, remember these basics:

- Do your due diligence. Look for information - preferrably from several students of the mentor or coach.

- Interview your potential mentor. If you plan to spend $5,000 (or even just $500) for their services, at the very least you should talk with them by phone and see if you hit it off.

- Understand what it is they are teaching and make sure it aligns with what you want to learn. Is it right for your business?

- DO NOT spend money you don’t have based on hype or high pressure! If you tell them you don’t have 5 grand and they tell you to put it on your friends credit cards…run. Fast.

- Do your due diligence. I mention this again because it’s very important. It’s your money. Be an educated consumer.

Again, this is a hot topic. Feel free to leave your comments below. I am interested in your viewpoint.

Written by Mike · Filed Under Mikes Musings