I have been considering getting a mentor for a while now to help me with the marketing aspect - advertising, setting up a funnel, setting up multiple income streams. I can make cool videos and all, but I really don't know marketing. I know that I can maybe learn all this stuff myself overtime, but I'm really trying to make a full time living happen within the next year since I have a newborn on the way.
I know a guy who I've watched blow up in the IM world over the last 6 years. He is a friend of my cousin. He is pretty high status, and travels all over the country giving seminars and what not. Making $30K per month to him is not unusual.
I like the guy and trust him. However, I'm a little uncertain of his terms. I don't know what the usual "going rates" are for this type of thing. I messaged him on Facebook and asked if he would be interested in mentoring me. He took a look at what I currently have going on, and he was interested in working with me.
His price was $5000 upfront for hands-on coaching in getting everything set up - funnels, strategy to get people into the funnel, setting up dropshipping merchandise stores, setting up an affiliate program on Clickbank, etc.
This coaching would last 45 days, and this should be sufficient to get everything in place. After the 45 days is up, it would be an additional $5000 if I would want to continue having him to coach me. Honestly, this is about the price I was expecting for someone of his caliber, so I'm not shocked by these numbers.
In addition to that, he charges 50% of whatever the site makes. Now, I haven't talked specifics yet, but essentially he would become half owner of my website. This is the part that concerns me. On one hand, he'd be taking my site to levels that I likely wouldn't be able to achieve on my own. On the other hand, it's still my brand and my knowledge and ultimately my time in the ongoing content creation.
So I'm wondering what you guys that have experience with mentoring/coaching think about this?