And, YES! you should earn bundles of money. You know your stuff. You’ve been around a while. Being a professional online mentor is a natural for you.
How much can you earn? Well, one woman I know charges $30,000 per year per client. For that fee they get prompt personal access to her advice every single day of the year. If that sounds annoying to you, just image how much money she is making with only ten clients, and this woman is not the most expensive mentor in the market.
And that, too, is the biggest drawback, i.e., the time commitment.
Generally speaking, the more you charge, the more access you are giving to your time. Sure you can make loads of money, but consider first if this is the route you want to take.
So What Is An Online Mentor?
There is a big difference between a coach and a mentor.
I am a coach. I help you solve very specific issues. We do not typically meet one-on-one, but via other means. I am available for personal one-on-one, but within defined limits.
A mentor is a different keg of fish. A few years ago mentors were really big in the business world. The idea was to find someone higher up who could help you along on your own career. These career mentors didn’t charge anything, their reward being that they could build up a support network among the junior level execs.
That business structure doesn’t work online. You won’t need junior execs backing you up in order to succeed. But if you have experience and knowledge to share, you may want to take on a few mentees. (mmmm — Is that as word?)
The Secret To Success
To be successful as a mentor, there are several things to check.
First, make sure a defined clientele is there. If you could use some help defining that client base, take a look at the free masterclass on Finding Your Ideal Client … And Thousands More Just Like Her.
Next, define what you can, and cannot, do to help your clients.
You could be working with someone in the brick and mortar business world, perhaps someone looking to change jobs or change careers. Or you could be working with someone online, someone who needs a set of skills or contacts that you can provide.
Identifying your services is tricky in a mentor/client relationship. When your client is paying thousands of dollars a month for your services, she is likely to want a guarantee of success. Few of us can guarantee success, but if you can, do. Ultimately, it comes down to trust. Does she trust you to take her as far as she can go?
This leads us to the most important consideration: Make sure this is someone you can honestly work with. There can always be personality glitches, so make sure the camaraderie is there.
Set your own limits. Several years ago I stopped taking on anyone who called herself a “life coach” because we couldn’t define who her client base really was, so she simply was not successful. But then I met a “life coach” who worked with military wives, someone who had been a military wife for decades, someone who knew how to reach them, and we formed a long wonderful relationship.
Building Your Client Base As A Professional Mentor
Email marketing just does not cut the mustard here. A Mentor/Client relationship is a personal relationship, so building your client base is dependent on being able to make personal contact.
Be a speaker at any and all conferences. Speakers are assumed to know their stuff, so go strut yours!
Write a book and go on a book tour. You may need to set up the publication and the promotion yourself, but this is a great way to find clients.
Put together conferences, whether online or in person. The weekend or week-long conferences will really spotlight your authority.
Create a whole series of interactive webinars where viewers can ask you questions.
Get others to recommend you, either as joint venture partners, or as colleagues. A personal recommendation is still the strongest advertising out there.
Building a client base for a mentor based business is probably no harder than building a client base for any other business. You simply have to know this this is what you want to do.
So what’s stopping you? Go for it!