While on Twitter recently this tweet appeared in my timeline by former real estate magnate, now “Shark” investor on ABC’s Shark Tank, Barbara Corcoran:
“Mentors are over-rated. I’ve been a mentor to more than 70 businesses I’ve invested in on Shark Tank, and the most successful listen and then do what they please.”
I retweeted along with my own comment:
“Interesting. Wouldn’t have expect to read something like that from her.”
Not that I know her personally. I don’t. But I certainly have a great deal of respect for her business acumen and leadership. As such, her statement certainly surprised me.
Just to clarify, what surprised me was not the part that that said, “the most successful listen and then do what they please.” I would expect that. I would hope that.
No, what surprised me was her conclusion: “Mentors are over-rated.”
Now, as we’ve often discussed in this space, we don’t necessarily know what another person means by what they say. However, I’m not sure how else to understand, “Mentors are over-rated.”
You see, in my opinion (which, of course, is the opinion of a person whose net worth is significantly less than Ms. Corcoran’s) 🙂 the fact that her most successful protégés listen to her (and — I assume — pay close attention to her counsel) and then ultimately make their own decisions takes nothing away from the value of her mentorship.
If she expected them to do whatever she told them to do she would not be their mentor…she would be their boss!
Effective mentors advise, guide, challenge, and sometimes even directly coach. But their ultimate desire is for their protégé to be independent and able to succeed without them.
I personally don’t see anything over-rated about that.
What do you think?
To listen to my interview with Dondi Scumaci, a woman I consider to be one of the business world’s top mentors, listen this archived episode of The Go-Giver Podcast.
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Phew, this is quite a bold statement from her and I completely disagree. Mentorship is the perfect balance between being “bossy” and following a “laissez-faire” attitude. Speaking from personal experience, I am really thankful that I had a real mentor in my very first job.
Fred, thank you for your feedback!
Coaching and mentoring is its own discipline and art…giving advice is just a piece of this giant cake. Furthermore, in business, i get it, we have to give respect to high net worth entrepreneurs…but bank accounts and other success measurables rarely convey that someone is a great mentor. We like the idea that super successful people should be the one’s teaching others…we like the sense of security and credibility that comes with it, but the fact is, mentoring is a passion. Consider sports…how often do the very best players become great coaches? Furthermore, “mentoring” is about giving people your most precious resource…your time…its about really listenning, digging deep to understand, and helping others unleash their potential. These Sharks…I think they bring capital and contacts to the table, and their communication is mostly soundbites. As you said…we have to define a thing before we can measure its value.
Jon, many thanks for your thoughtful and very insightful comments. Much appreciated!
I agree with Jon. “Defining a thing” is something I took away from my studies with Tony Robbins. Too many use the same words but hold different definitions of them (which causes chaos and confusion).
Jon your deep look into mentorship is one I share. It really comes from inside us and being able to listen deeply, then ask good questions in order to offer what is valuable for that situation and that person.
Well, I respect all of the Sharks! I do have to say though, that my mentor, his words, and his belief in me, help me to keep going when things look dark. He once said, “You should never underestimate your mentor’s belief in you.” Just knowing that there is another person on the planet, that believes in me, despite my flaws, means a great deal to me. My mentor’s support, wisdom and guidance, guide me on my path, and light my way. And of course I will make my own decisions and I will make mistakes. My belief is that my mistakes will be lessened by lessons learned by my mentor, if I choose to take in his own experience. Thank you Bob, I appreciate you posting this. I love your teachings, & love all of the Sharks as well, as I have learned much from them as well!
Thank you, Connie! Greatly appreciate your kind words and insightful feedback. Thank you for sharing your personal experience with us! I love it!