I completely agree that getting a mentor is a good way to level up and grow your business.
But is it really an expense you can afford when you’re just getting started and trying to stay on top of all the recurring fees?
Today’s topic might sound like going against the grain but it will save you from a lot of headaches. So allow me to ease your mind on this one. You don’t need a mentor! Not right away, at least.
If you’re committed to doing the work and implement the tips that I’ve been sharing with you so far, you don’t have to drown yourself in additional expenses. Keep your money! Especially because there are people out there who are willing to scam you out of it by promising a life-changing mentorship experience. That’s exactly what happened to me when I was getting started.
“If you’re just getting your business started and you don’t have a lot of money, the last thing you want is a mentor.” - Daniel Rosen
When you’re just starting a credit repair business on a tight budget, you have to be very careful with how you are spending your money. On the upside, you don’t need to spend a penny to get your business going. Unfortunately, I had to learn that the hard way.
Remember the story of my advertising fiasco I shared in one of the previous episodes? The one on how I spent $150,000 I didn’t have on useless TV ads, infomercials and a bunch of other stuff that didn’t do anything for my business? Well, there’s one thing I haven’t mentioned at the time - it wasn’t really my idea!
My first ever mentor claimed that he could help me sell my software and advised me to go all-in on creating a huge advertising campaign. He told me all this crazy stuff... And I believed him at the time. It turned out, the guy was making it up as he was going along! He didn’t have any prior experience of doing marketing in the credit repair industry. By taking his shot-in-the-dark advice, I made the biggest mistake of my career.
Years later, I was approached by another fake mentor, this time an attorney. He convinced me I needed legal counsel which he offered to do for free in exchange for a 10% off the top once the business started making money. The problem was, in the beginning, 10% off the top is all the profit there was! All the money I was making went directly to him. It was a horrible price to pay for a few months of free legal advice.
Luckily, a few encounters with charlatans didn’t put me off the whole idea of mentorship. I just became more cautious. It would’ve saved me a lot of money and I could’ve avoided an insane amount of stress, which is the main reason why I’m sharing all of this with you, now.
“Don’t be looking for shortcuts. They’re not there!... You have to put in the time and do the work.” - Daniel Rosen
There is no substitute for good, old fashioned, hard work. If you’re looking for a way around it, not even the greatest mentor in the world can help you.
But once your business picks up steam and you begin to profit steadily while having a hefty reserve you can rely on, you can now consider investing some of that money into mentorship in order to speed up your development.
After years and years of success and scaling my company, I have reached a point where I’m now comfortable in paying for two mentors. Russell Brunson, who teaches us marketing and Alex Charfen, who is teaching us how to scale and grow our team.
I pay them because making mistakes at the highest levels of business can be very expensive. Both Russell and Alex are at the very top of their industries and they’ve built an incredible reputation over the years. They’ve already gone through exactly what I’m going through now and the results I’m getting with their advice speak for themselves.
Promise me this though. Even when you are able to afford a mentor, ask yourself these questions in order to make sure you’re picking the right person for the job:
If you’re a member or you’re considering joining our Credit Repair Cloud Facebook Community you should know that offering mentorship to other members is against the rules and regulations of our group. We do what we can to block and kick out scam artists but just in case, please do not accept mentorship solicitations from other members.
As you can tell, I’ve been struggling with this issue of fake mentors for quite some time and it’s really getting to me personally. But even if we were able to expose and remove all the scammers, people would still want to go to someone that would guide them through the initial steps of setting up their own credit repair business.
And this inspired me to start working on something very special. I managed to keep it a secret until I got it to a point where it’s just right and I think this would be the perfect time to share the news.
I’ve recently teamed up with Corey Gray, a veteran of the credit repair industry, and supported by our team of experts, we were able to prepare the Credit Hero Challenge. It’s a 14-day experience that will help you learn all the necessary basics to launch your business with confidence. We are going to take you through the entire process, step by step and hold your hand the entire time. And it’s all happening online.
Early access is going to be very affordable but I’m not sure how long we can keep the prices down. So if this sounds like something that can benefit you and your business, visit CreditHeroChallenge.com and sign up for our waiting list.
We can’t wait to get started and we hope you’ll join us in the Credit Hero Challenge!
Until then - keep changing lives!