EP 073: Our Dream Panel of Advisors

I’ll never forget the experience of hiring my first mentor.

I had seen this guy popping up on my social media.

Every week he would release a video. 

He had this way of describing the exact problems I was dealing with and could accurately articulate how I got these problems.

It was like he was talking directly to me.

Like the videos were just for me.

Eventually, I was so convinced he understood my problems and I felt that he could help me…

So, I reached out and enquired about his mentoring program.

I got on a call with him, and just as I expected, he had a similar business to mine.

To no surprise, he had been through the same thing and knew how to overcome what I was facing at the time.

I asked him when we could start working together and what it would cost.

When he gave me the price, I nearly fainted.
Kidney prices…

Then he said something I’ll never forget.

Only idiots attempt to grow a business by trial and error.

The smart ones do this. 

 – Find someone who has done it

 – Pay them

 – Model what they have done

The trial and error approach is slow and expensive, and mentors are cheap and offer quicker results when you measure it this way.

I looked at how much time and money I had wasted in business “trying” to get things to work.

I couldn’t argue with his point and signed up for the program

Which ended up being a great decision.

Since that day, it has been my approach to not only business but to life.

Find someone who has done it and pay for the shortcut.

Anyhow, in this week’s episode of the podcast, Grant and I build our dream panel of Mentors / Advisors.

We go into 

 – Who we would have on our panel

 – Why we picked them

 – What we would hope to get from working with them

Take note, as there might be hints on what to look for in your advisors.

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

Episode Highlights:

00:00 Welcome to Business and Investing
03:00 Analogy in designing a panel of advisors 
06:11 Getting people with different skills and opposing views 
07:48 Who’s advising you today and the roles they fill
10:03 The people you have around you makes all the difference
10:32 Dream Advisor: Keith Cunningham 
14:25 Exercise caution when taking advice from other people 
16:45 Dream Advisor: Carl Icahn
21:04 Why you don’t need a ‘Yes Man’ as an advisor
22:58 Dream Advisor: Howard Marks 
29:20 Dream Advisor: Stephen Schwarzman
33:00 Gaining access to your advisor’s network 
34:20 Trend spotting 
35:23 Dream Advisor: Peter Attia 
40:05 Dream Advisor: Tony Robbins
44:17 Dream Advisor: Kim Kardashian 
49:30 Avoiding bias 
51:10 Dream Advisor: Ray Dalio

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