A Great Mentor Leads You to Your Success (CFFL 0047)
Jack Butala: A Great Mentor Leads You to Your Success. Why We Can Afford to Give Land Away Every Month. Every single month we give away a property for free. It’s super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don’t even have to read it. Thanks for listening.
Jack Butala: Jack Butala here from Land Academy. Welcome to our Cash Flow from Land show. In this episode Jill and I talk about the qualities you should look for in a mentor and I’ll give you hints here. They don’t host late night infomercials and talk about how to get rich quick specifically in real estate. I’m really excited about this.
Jill DeWit: I agree.
Jack Butala: I have a lot to say about this.
Jill DeWit: That really bothers me.
Jack Butala: This topic came up several days ago, not in a podcast way. We’re both talking about it from I think it was a member had a question or something like that.
Jill DeWit: Right.
Jack Butala: Hey, before we get into this topic Jill, I need to say that we give away a free property every single month.
Jill DeWit: We do.
Jack Butala: Tell us how to register.
Jill DeWit: I’m happy to share this. It’s very easy. Every month, we gave one away just last November. Our winner was Eric Held we just announced that I think it was just yesterday or the day before. Anyway all you have to do to register to get a free property is go to our website LandAcademy.com. Sign up and download our free book E book and as Steven says you don’t even have to read it.
Then you also have to go online and write our iTunes show, this iTunes show, Cash flow from Land. Give it anything, one star, five stars whatever you love. Write a little comment, if your name’s not clear then I can’t tell who it is you can feel free to send me a little email, Jill I rated this show. I love it! I was the one that did, I’m X Y Z land. Just send me a little note to Jill@landacademy.com.
Jack Butala: They’re super simple links and the whole thing should take you thirty seconds. There’s simple links in the text section of the podcast no the matter where you listen to it from.
Jill DeWit: There you go. It makes it even easier.
Jack Butala: Hey have you had mentors in life?
Jill DeWit: Who doesn’t. Oh course. I think we’ve all had mentors in life. Whether we call them that or realize who they were or not. I think everyone-
Jack Butala: I struggled with that word before I wrote the title to this. You think mentor’s correct or is that kind of old school? What else would you call it like teacher?
Jill DeWit: Nah, guide.
Jack Butala: Sensei?
Jill DeWit: What they call, wax on wax off?
Jack Butala: Sensei.
Jill DeWit: Sensei thank you. All right, that maybe a little more accurate. I’m just kidding.
Jack Butala: I left mentor in because everybody knows what it is. I don’t know.
Jill DeWit: We should come up with a new term. I think you’re right there should be a new new term for mentor because sometimes I feel like it’s overuse a little bit. It’s kind of odd.
Jack Butala: Yeah that’s what I mean. It’s gotten to be maybe not such the positive thing that it use to be. Probably because of those late night TV guys.
Jill DeWit: Maybe that’s it.
Jack Butala: Tell us about your whatever we’re going to call it, mentor. Mentors.
Jill DeWit: I’ve had several haven’t you?
Jack Butala: Yeah. I’ve had one in particular that really think had incredible influence and really was very responsible for what happened from a real estate standpoint.
Jill DeWit: Will you share?
Jack Butala: Yeah I will but I want to talk about you first.
Jill DeWit: I’ve had multiple mentors.
Jack Butala: Let’s talk about you Jill.
Jill DeWit: Thanks a lot.
Jack Butala: Go to JustJill.com.
Jill DeWit: That’s not my website. That’s good. I think I tried to get that one and somebody already has it. That would be really good. It’s interesting sometimes you have mentors you don’t even realize they’re your mentor till later on. Then you realize wow I really learned from that person? Then I’ve also had the flip side where I’ve mentored people we both realize later that, wow I got him on that path. I feel great about it. I got to guide someone. Sometimes it’s not right in your face. It’s just kind of happening. Okay, back to some of my mentors. I’ve had personal mentors and I’ve had professional mentors.
Jack Butala: Let’s pick your favorite one because this isn’t a four hour show.
Jill DeWit: You’re such a stinker. Thanks a lot. Mentors are people that I want to emulate. One of them as my aunt. I hadn’t really thought about it until we’re talking right now. There’s a lot of her, her life and her goals and the way that she’s been successful as a woman in business, as a mom, as an individual. She was a mentor for me that I’m kind of now on the show just kind of realizing. I guess that’s my biggest mentor.
Jack Butala: What have you learned?
Jill DeWit: Gosh, calmness. I learned a great way to handle a lot of situations because I would think about what would aunt Leslie do. In business … They both retired at 50. They did everything right. Great business, a lot of work. I learned a lot from her on how to handle things in situations and professionalism and decisions.
Jack Butala: That’s great.
Jill DeWit: A lot of big picture things. Her business is nothing like our business.
Jack Butala: There’s no replacement for watching somebody do that. You can’t fib about it, they’re doing it everyday. They’re living that life. We live in a day and age I think where there are a lot of people who are teaching stuff that they just or they’re mentoring or they’re instructing or … Because of the internet, they have absolutely no business doing that at all.
Jill DeWit: Right. I wrote down three things that are important to me when one choosing a mentor. These all are very very promise … Let me go back. Here’s the three things. The qualities of the person. I have to be on the same page with that person.
Jack Butala: Integrity.
Jill DeWit: Yes.
Jack Butala: I don’t want to put words in your mouth.
Jill DeWit: No just the qualities of the person and what they stand, I guess integrity. That’s important to me. Number two is their experience. Do they have a track record? Are they really doing and can they prove that they’re doing what it is I want to learn from them. Then number three is goals. Have their goals matched my goals so I know that by, I don’t like really like the word emulating but-
Jack Butala: Emulating good. I think it’s a great word in this situation.
Jill DeWit: Okay.
Jack Butala: Anyway, go ahead.
Jill DeWit: Emulating some of their qualities in the ways that they do things. It mirrors where I want to go and it’s going to help me. It’s kind of big picture stuff. Am I not being specific enough?
Jack Butala: No of course you are. It’s fine. Your opinion is your opinion. I just think that that’s how you generally look at stuff, I think it’s great. That’s one of the reasons we’re partners because we look at stuff exactly the same way or have necessarily the same talents in the same area. One of the things for me that I absolutely is imperative for me for a mentor and in a second I’m going to ask you this question.
If you had to choose one right now because maybe you’re pursuing something new in life. I’d love to talk about that. Anyway, one of the things that is imperative for me when choosing a mentor is to show me how to do it. I don’t mean this is all possible. You could have this life too. I just want to puke somethings. There’s so many sources of information that are not credible in life anymore. People are saying you can do it too, all you have to do is put a smile on your face-
Jill DeWit: For $29.95-
Jack Butala: Keep your chin up and go out there and get them.
Jill DeWit: Right.
Jack Butala: I just think … We have a competitor who wrote a book that, I have not read the book but I’m told it’s like that. It’s not about the competitor or any of that, it’s just show me how to do it. Show me some of the tricks.
Jill DeWit: Right.
Jack Butala: Tell me the secret. Save me some time.
Jill DeWit: That true.
Jack Butala: I’ll give you my … You know I’m writing a whole E book about this.
Jill DeWit: Yes.
Jack Butala: Why would you spend some time with a mentor where you’re really going to devote a lot of time energy probably do a lot of sort of the entry level work with this person. Why? Why would you settle for anything less than show me the ropes. Cut me in on a deal.
Jill DeWit: Right. Well then based on that then it should be a two way street too.
Jack Butala: Yeah.
Jill DeWit: Perfect.
Jack Butala: Absolutely. Yeah I think a mentor should talk about how they’ve done it, when they’ve done it, the mistakes that they’ve made. Give us some real world actual advice. I don’t derive motivation from a mentor. I think that’s where some of this goes a little bit different. Like I don’t need any motivation. I think I’m so crazy motivated to do whatever the heck every day. I know you do too.
Jill DeWit: Yeah. I think that’s such a good point that you just made because that’s internal. I don’t think … The best life coach or anything out there, its still got to come from within. I agree with that.
Jack Butala: I don’t understand a life coach thing either. I mean I get the model is a life coach or a sounding board? Is your closest girlfriend a better life coach than the one that you hire?
Jill DeWit: Sometimes.
Jack Butala: It’s the same thing.
Jill DeWit: I think it is.
Jack Butala: I don’t think your closest girlfriend is a mentor at all. I don’t mean you specifically or any specific girlfriend. That’s not what I mean. I just mean like a close friend is what I mean.
Jill DeWit: A close friend can be a mentor. If you’re talking about life experiences you can learn from them. I have a number of professional women who are my close friends and I am sure that we walk away from lunch having some really good ideas about how we’re going to go back handle a certain situation on both sides.
Jack Butala: Jill has a friend and I’m not going to name any names, has a friend who later in her life from an age standpoint got the motivation I don’t know where probably from her husband or some other place to crack the Wal-Mart wall get into the buyer’s scenario in there to get baked goods and a bunch of other stuff in there and she just killed it.
Jill DeWit: Right.
Jack Butala: You talk about your aunt retiring at 50 which I think is personally nuts. Anybody that retires at 50. She did it when she was a lot older than that, your friend.
Jill DeWit: Right.
Jack Butala: That’s when you’re smart.
Jill DeWit: This what I’m talking about. I never really thought of her directly as a mentor but I’m sure we both mentor each other in some of these situations.
Jack Butala: I had a mentor, in high school we had some pretty substantial family tragedy. One of my best friends, his father who owned several companies and he stepped up and said, “Look how can I help, do you need some money or what do you guys need?” I said, “No, I would love to have a job where I could learn how to do some of this stuff.”
Super long story short, for several years during summers and even part of a college I worked there. It was not a high paying job in anyway. I just learned that you can own companies and start companies and you can take on partners and kick out partners. Just the whole mechanics of how it all works and the value of real estate specifically apartment buildings and a lot of stuff. I had access to him. I ran a business ideas by him. After college I went on and did other stuff. What a crisis experience.
Jill DeWit: That sounds like a version of when you and I talk about your Rich Dad, Poor Dad-
Jack Butala: I have not read that book.
Jill DeWit: I know you haven’t read that book.
Jack Butala: I really need to read it.
Jill DeWit: You do. That person that you described to me fits the mold of one of those individuals in that story and it’s beautiful.
Jack Butala: The other thing that I wanted to mention about mentors is that you don’t want to get so wrapped up in who you are learning from that you just take everything in what they are saying and that’s it. There are several things and I think they’re kind of bad habits that picked up through that specific situation.
Jill DeWit: Really?
Jack Butala: I had to … I still-
Jill DeWit: Really? Can you name one?
Jack Butala: Yes. I’ll give you one. This guy was so high up in this company and he earned it.
Jill DeWit: Okay.
Jack Butala: He really earned it. He did everything right. Back then he went and this is long before the internet. Back then he got great grades in college. He did everything down an accounting path that you should do.
Jill DeWit: Okay.
Jack Butala: Great grades in college. Went to work for the big six or whatever was back then. I think it’s the big 3 now. Put a few years in and ultimately had a client and ended up purchasing at a ridiculously reduced price they’re whole freaking company.
Jill DeWit: Got it.
Jack Butala: His approach was delegation delegation delegation and bring people in. I learned kind of the hard way that you can’t just delegate everything. You got to do stuff yourself. You got to get up in the morning and do some stuff. Even the stuff you don’t want to do.
Jill DeWit: Right, I agree. Until sometimes you’ve reached that point maybe that was it. You saw him at that level that he was. You didn’t see all the work that went in to get him to that level. Maybe he did the time you just hadn’t seen it.
Jack Butala: I still think it’s important to really … There’s a CEO quality that’s really appreciated. There’s a terrible CEO quality out there and I’ve seen both. He had that kind of walk around companies and motivated everybody and was good at it. I tell you, he did not want to work. I think there is a motivational CEO quality that’s great.
Jill DeWit: Right.
If you have any questions or comments, please feel free to email me directly at steve@LandAcademy.com.
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on iTunes.