In this series, I’ve been writing about the Path to Wealth and how we’ve mapped it. I even gave you some blurry little preview pics.
The journey from Startup to Legacy passes through four phases: Founder Phase, Farmer Phase, Tinker Phase and Thief Phase.
Here’s how a mentor helps you along the path.
Mentorship Through the Four Phases
In the Founder Phase, a mentor is primarily a teacher.
We’ve done so well with new gyms that the path is really, really clear. There are steps to follow, in order, that virtually guarantee a profitable opening. We just have to tell them to you and keep you focused.
Gym owners in the Founder Phase have either just opened, are about to open or are struggling to break even. Their best mentors are those who will help them avoid overwhelm and give them the confidence to do it the right way.
And it’s so much easier to open a gym the right way. New owners who have gone through the Incubator have literally shaved up to seven years off their journeys to wealth. Imagine: seven years of pain, poverty and poor health—avoided!
In the Farmer Phase, a mentor is a coach—and a therapist.
The majority of gym owners in the Two-Brain Family are in the Farmer Phase. And when we meet them, they’re usually paralyzed. Maybe they’ve made some mistakes that they’re terrified to correct (like low rates). Or maybe they’re just overwhelmed by all the ideas out there.
Like a fitness coach, a mentor in the Farmer Phase must provide clarity and support. First, we help the owner make decisions (“Do this one thing today”). Then we provide support while the owner takes action. And when the action is really tough, a mentor shares the burden.
Your investment in mentorship is $5,000 (a fraction of what mentors usually cost). A mentor’s investment in you is physical, mental and emotional. I’ve spent many sleepless nights knowing that my clients are anxious. I’ve skipped many holiday parties to shoot them how-to videos and taken hundreds of phone calls at my kids’ hockey games. I do all of that because a mentor is invested deeper than money can measure.
In the Tinker Phase, a mentor is a filter.
When you achieve Functional Retirement, you have freedom of time and money. Maybe a little too much freedom: It’s very easy to chase after every idea you’ve got locked in the vault. That’s a recipe for incompletion and burnout.
Tinker-level mentors help you get clarity. They help you decide and then take action on one thing at a time. Most of our clients in the Tinker Phase start by building a wealth platform, and then they decide to duplicate their current business. Or, sometimes, they start a new one. But they don’t pursue all options at once.
Tinker-level mentorship also includes group support with peers at the same level. Because relationships create opportunities—when you’re ready to receive them.
And in the Thief Phase, a mentor is a trusted confidante.
If you’ve ever heard the phrase, “It’s not what you know, it’s who you know,” then you understand the mindset of the Thief. In this stage, mentors help clients establish an immortal legacy. Your legacy should grow and give after you’re gone, and your mentors should guide you to set up a platform to make that happen.
Are you in Founder Phase, Farmer Phase, Tinker Phase or Thief Phase?
The Right Approach at the Right Time
Good mentors are teachers, coaches therapists and trusted confidantes. Great mentors know how to fill all those roles. But the best mentors know which hat to wear—and when—to move you toward wealth.
Here’s our mentoring team:
All have been trained to be teachers, coaches, therapists and trusted advisors. And all have different personalities because there’s no “one size fits all” when it comes to mentorship. We’re not a call center or a help line or a group of consultants.
We’re smart, caring and experienced professionals who have been where you are now and mapped the Path to Wealth for you.
Book a free call with our team to talk about mentorship here.