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The concept of "Mentoring"
Posted on 9/6/23 at 9:03 am
Posted on 9/6/23 at 9:03 am
Saw this a couple of days ago: Spontaneous Exchange: A young man asks for advice
I think the concept of Mentoring is terribly underserved in today's culture... especially in the "Get-Rich-Quick" sector.
When I was a young Grasshopper, I too knew it all and placed little importance on those that came before us. I wish I could have those days back.
Q: Do you feel an obligation to share your business/investing/general outlook experience with the Grasshoppers of today?
Q: Is there a cultural resentment/indignation in play today between experienced old farts and the GEN Z's that compromises Mentoring?
This post was edited on 9/6/23 at 9:20 am
7
Posted on 9/6/23 at 9:07 am to tigerpawl
It is the same as it always was. This board is the same as you describe.
Usually younger investors posting their get rich quick schemes, and older investors picking holes in their "research". They stick around a few months pumping their bags then they disappear. I worry that there was way more of this than in the past just so to easy access to trading more risky plays. These "investors" typically come away with the same mindset that the world is stacked against them, and the game is rigged.
Usually younger investors posting their get rich quick schemes, and older investors picking holes in their "research". They stick around a few months pumping their bags then they disappear. I worry that there was way more of this than in the past just so to easy access to trading more risky plays. These "investors" typically come away with the same mindset that the world is stacked against them, and the game is rigged.
Posted on 9/6/23 at 9:09 am to UltimaParadox
quote:How do you see it relative to starting new business ventures or selecting a profession? Or general business philosophy? Setting proper expectations?
It is the same as it always was. This board is the same as you describe.
Usually younger investors posting their get rich quick schemes, and older investors picking holes in their "research". They stick around a few months pumping their bags then they disappear. I worry that there was way more of this than in the past just so to easy access to trading more risky plays. These "investors" typically come away with the same mindset that the world is stacked against them, and the game is rigged.
This post was edited on 9/6/23 at 9:21 am
Posted on 9/6/23 at 9:47 am to tigerpawl
The best mentor is trial and error, making mistakes, learning and optimizing.
It is always good to have a seasoned person to bounce ideas off of and get advice, but learning hands on is the best mentor.
It is always good to have a seasoned person to bounce ideas off of and get advice, but learning hands on is the best mentor.
Posted on 9/6/23 at 9:58 am to ThatsAFactJack
What I find is people get greedy and think they know it all in the beginning. Instead of finding a true mentor and learning from them while giving up 50% of the profits, they step in landmines along the way and end up with no profit.
This statement generally comes from the real estate side but can be applied in almost any business.
Key is to finding a mentor you know and trust. If you’re going to give up half of something they better bring value for that even if you’re doing all the heavy lifting day to day stuff.
This statement generally comes from the real estate side but can be applied in almost any business.
Key is to finding a mentor you know and trust. If you’re going to give up half of something they better bring value for that even if you’re doing all the heavy lifting day to day stuff.
Posted on 9/6/23 at 10:54 am to Im4datigers
quote:I was thinking of something more along the lines of sharing advice freely… Without having a stake in the business…
If you’re going to give up half of something they better bring value for that even if you’re doing all the heavy lifting day to day stuff.
Posted on 9/6/23 at 11:24 am to tigerpawl
More and more people have a scarcity mentality these days. That works against mentoring.
We used to beleive that if you and I both work hard, we could both be successful.
Now, too many people believe that if you and I work hard, then you are taking money away from me, so not only should I not help you, but I should do what I can to knock you down.
We used to beleive that if you and I both work hard, we could both be successful.
Now, too many people believe that if you and I work hard, then you are taking money away from me, so not only should I not help you, but I should do what I can to knock you down.
Posted on 9/6/23 at 11:26 am to tigerpawl
(no message)
This post was edited on 12/11/23 at 9:42 am
Posted on 9/6/23 at 11:27 am to tigerpawl
quote:
Q: Do you feel an obligation to share your business/investing/general outlook experience with the Grasshoppers of today?
I believe most would like to, but the receptive audience is very small and it's something that plays out over months and years so hard to maintain that dynamic for some.
quote:
Q: Is there a cultural resentment/indignation in play today between experienced old farts and the GEN Z's that compromises Mentoring?
I think the way Boomers and older millenials acquired wealth and navigated through this world is so dramatically different from how Gen Z and Gen A will have to do it that's there is certainly a disconnect. My dad, for example, can not understand how my job even exists let alone how I can hop jobs every 2-3 years for big pay raises. Also the old real estate advice, the stock market investing, save your money to buy a house. None of it applies the same way and older folk just can't grasp the younger realities.
Posted on 9/6/23 at 11:29 am to LSUFanHouston
quote:
We used to beleive that if you and I both work hard, we could both be successful.
But when was this ever true?
For every small business owner who works hard some are going to succeed and some of them will not succeed.
Posted on 9/6/23 at 12:44 pm to Paul Allen
quote:
I was thinking of something more along the lines of sharing advice freely
I hear you man. Unfortunately the good ole grey hairs are falling by the wayside.
Most current professionals are so damn busy it’s just hard to take on a mentoring position. I’m 50 and would love to mentor some younger people in real estate. I’ve had many of conversations with people here (for free). But with work, work, work, and family it just becomes tough to do it all the time.
In my opinion it’s best to find someone that’s been in the industry and is now retired. They’re much more likely to have time to go sit for a couple of hours a week for coffee. Most just enjoy the company and love talking about their past.
Posted on 9/6/23 at 12:49 pm to tigerpawl
Mentorship is only valuable if you are in the trenches and have specific situational scenarios to ask a mentor about.
Posted on 9/6/23 at 1:15 pm to Thundercles
quote:
the stock market investing
What's changed in stock market investing?
Posted on 9/6/23 at 1:44 pm to LSUShock
quote:Disagree. A basic approach with good work ethic and reasonable expectations is priceless. Those business virtues need to be set properly before venturing out into the world.
Mentorship is only valuable if you are in the trenches and have specific situational scenarios to ask a mentor about.
Mentors have much the same role as Advance Scouts did back in the pioneer days. Fundamentally, no difference.
This post was edited on 9/6/23 at 2:58 pm
Posted on 9/6/23 at 2:16 pm to tigerpawl
quote:
How do you see it relative to starting new business ventures
Cyclical less cheap money out there so harder to start right now.
quote:
selecting a profession?
Same as ever, STEM fields are where you should be steering people who want to make a decent living
quote:
general business philosophy?
Once again cyclical, I think people got used to cheap money. Now that's gone, people are more hesitant.
quote:
Setting proper expectations?
Same as ever, everyone thinks they will get rich quick. And 99% of the time that just leads to getting poor quick. Explaining to younger people about investing over time whatever it is.
Posted on 9/6/23 at 7:46 pm to tigerpawl
quote:
Q: Do you feel an obligation to share your business/investing/general outlook experience with the Grasshoppers of today?
Yes, I intentionally mentor students each year. It’s typically Masters program students that are working through next steps in career journey. I really enjoy the opportunity to meet the students and provide some structure.
quote:
Q: Is there a cultural resentment/indignation in play today between experienced old farts and the GEN Z's that compromises Mentoring?
I’m a millennial so I don’t see that issue. The world has changed a lot between Boomers and Gen Z and Alpha. I think millennials play a critical role in bridging generations that otherwise struggle to relate (and justifiably so…their worlds are not and never were comparable due to the rise of technology).
Posted on 9/7/23 at 8:01 am to ThatsAFactJack
quote:
The best mentor is trial and error, making mistakes, learning and optimizing.
I disagree. I think someone else’s trials and errors work too. I don’t need to put my hands on a hot stove to know it will burn me. Plenty of other people have done that enough for me to learn from them and know better.
Posted on 9/7/23 at 9:19 pm to LSUtiger89
quote:
I think someone else’s trials and errors work too.
True. I had the good fortune to start my work life with some really sharp folks who were 10 to 15 years older than me. They passed along plenty of “how to do it” advice and experiences, but I also still draw on some of their war stories they shared where things went wrong so “never do this.”
Posted on 9/11/23 at 3:34 pm to LSUtiger89
Show up 10 minutes early. Even if you're an artist, it sets you up for success.
At a chemical plant, an old Vietnam vet with a Sam Elliott 'stache that did all of our data and voice wiring told me two things that I have used in many industries.
"Lemmy, product must ship, and people must get paid." There were a few more sentences that nicely explained in mostly four letter words that if I ever found myself about to do any IT work that would have an impact on those items, I should kindly and carefully reconsider.
At a chemical plant, an old Vietnam vet with a Sam Elliott 'stache that did all of our data and voice wiring told me two things that I have used in many industries.
"Lemmy, product must ship, and people must get paid." There were a few more sentences that nicely explained in mostly four letter words that if I ever found myself about to do any IT work that would have an impact on those items, I should kindly and carefully reconsider.
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