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Reverse Mentoring for Real Estate Investors
Utilizing current technology, Mentoring can be two-way street. Normally, mentoring involves an experienced full-time Real Estate investor to guide a newbie Real Estate investor. We can flip this relationship and accelerate to express hi-speed lanes. It is not that radical shift in power dynamics. Instead, it puts mentoring on steroids, utilizing new technology and social media to tap into marketing at a much faster pace.
What is normal Mentoring for Full-time Real Estate Investors?
Typically, an experienced veteran Real Estate investor shows the newbie Real Estate investor the basic fundamentals to advance techniques and the secrets of the trade and strategies. Implementing the strategies in real life rather than text book knowledge is the key factor for Mentoring.
What is Reverse Mentoring for Real Estate investors?
Newbie Real Estate investors, who are generally tech-savvy, share their knowledge and experience with veteran Real Estate Investor Mentor. They intend to share their expertise in social media like Facebook, YouTube, Twitter, and blogging to viral marketing. These are very powerful marketing tools when used effectively. They are more sensitive to consumer’s habits, tastes and current trends.
What are the benefits for reverse Mentoring for Real Estate investors?
There are four major benefits of reverse mentoring:
1. Bridge the generation gap to help understand each other
2. Enroll, enlighten and engage each other.
3. Help each other with new visions combined with experience.
4. Gain knowledge from each other in key areas of technology and viral marketing.
What are the challenges of reverse mentoring for Real Estate investors?
Mentoring is a very interactive process, and it has its own challenges due to the individual’s own education, life experience, and ability to communicate effectively.
There are four major challenges of reverse mentoring:
1. Open mindedness, commitment, and flexibility to learn new ways of doing business.
2. Can be logically difficult to explain.
3. Old way of doing things versus new faster instant gratification attitude.
4. Misunderstanding due to generation gap
We all need to understand that E-business is here to help us speed up and become more independent to achieve more in our business. Learning is two-way street, so why not take full advantage of it and remove the intergenerational conflicts.
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An article by Navtaj Chandhoke
Navtaj Chandhoke, Co-Founder of Canadian Wealth Builders. Navtaj is full time Real Estate investor, consultant, Master Coach/Mentor, and author in the field of real estate for more than 30 years in Canadian real estate. Navtaj is also the Founder of Professional Real Estate Investors Group (PREIG) Canada To read more articles by Navtaj Chandhoke |
Topics: Mentoring and Coaching | 2 Comments »
2 Responses to “Reverse Mentoring for Real Estate Investors”
Comments
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August 18th, 2009 at 10:22 pm
A great and interesting twist on the topic of mentoring. Learning is definitely a two-way street. I believe that if a true veteran can be humble enough to seek guidance in challenged areas – a powerful team can evolve. Growth comes from a shared knowledge base.
September 17th, 2009 at 1:10 am
As the old saying goes, “Two heads are better than one.” and more revised versions are “Three heads are better than two” and so on. A saying I like is, “When the student is ready, the teacher shall appear.” Who’s to say that the teacher cannot be younger?
Just last week I learned something very powerful from a young man who is about 16 years younger than I, a lesson he learned from Robert Kiyosaki. He taught me that success is really mostly achieved by a team of people. He didn’t really teach me this, as I have knew about this concept before, but this concept of “team” never really hit home until that night speaking with him. He said to me during our talk, “Ian it we have a good team of like minded people, focused and working toward a common goal it doesn’t matter what we do, whether it’s real estate or some thing else, we can do anything! It was a big AHA for me! The flash of lightning struck and the light bulb turned on!!!
Just recently I also heard Navtaj speak and emphasize the point that there isn’t really such a thing as a “self” made millionaire because for any man or woman to be successful, in whatever endeavor, they were surrounded by a team or had a team working behind the scenes, or a team supporting them.