I’ve met several founders and investors who catch heat for offering their expertise in exchange for a fee…
Here’s the problem: The people who criticize this practice have no understanding of time, pricing, and opportunity cost.
As you advance in your field, your relationship with your time changes.
- Early on in your career, your time is worth very little. So, this means you’re willing to give your time away freely in exchange for access and opportunity.
- As you grow into more senior roles, you attempt to leverage your time to ensure that you’re only focusing on the items that have the greatest impact.
- Once you break into the top 10% of your field, a change occurs. Here, you begin to do everything to *protect* your time.
Every week, dozens of people will approach you asking for your time, expertise, or counsel. Many of these are sincere requests from passionate operators, but many more are solicitations from time-wasters.
The purpose of services like MentorPass is not for those experts to make a quick buck from their status. They’d be much better off consulting for some giant firm in their industry at $1,000/hour.
Instead, these arrangements are actually a sorting mechanism.
The fee is used to select for the people who are serious enough about their work to invest the money to learn from that expert.
It effectively filters out anyone who’s attempting to just “pick your brain”.
In fact, I’ve been accepting a few MentorPass calls recently and it’s been a phenomenal way to support a wide range of founders and aspiring fund managers.
To me, the real value is in the opportunity to work with world-class builders. The fee is just to help find those people who are as serious as I am about achieving at the highest level of their respective craft.
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P.S. Want to talk about startups, fundraising, eCommerce, investing, or building a company? 👀
Check out my MentorPass linkedbelow.
https://www.mentorpass.co/me/benzises