Found a mentor that I know personally, but am a little unsure of his terms...looking for advice

83 replies
I've been building my website/brand for the last 2.5 years. I have built up a nice little following in that time (25K youtube subscribers and constantly growing, 400 people per day to my site). I only sell one product from my site, which is a course and I do about $1000 per month, sometimes upwards around $2K in a month from just this one course.

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?

Thanks!
#advice #found #mentor #personally #termslooking #unsure
  • I would just negotiate the offering more until you're both happy.
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  • Profile picture of the author Gambino
    Originally Posted by Bkelly301 View Post

    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.
    Honestly, the only real value I see here is perhaps for the funnel. But, I really can't even say that without seeing anything. If it's a good funnel and it converts then the funnel itself could possibly be worth $5,000 or significantly more. Setting up a site or an affiliate program isn't rocket science. I bet someone on Fiverr is offering to do those things.

    So, $5,000 just to set things up? Depending on the quality of the funnel and what it includes, it could be a good deal or a horrible one - in my opinion.

    Originally Posted by Bkelly301 View Post

    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.
    So, $5,000 to set it up then another $5,000 to teach you how it works? Doesn't really make sense to me. What is he actually doing?

    Originally Posted by Bkelly301 View Post

    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 where I'd tell him to pound sand, if I didn't already. You're going to pay a guy $10,000 (or more if you keep having to pay $5,000 every 45 days for the privilege of working with him) to own half of your business. It sounds like you have a good idea of what you're doing and have a source of traffic you can scale. To me, giving away half of your business and paying to do it would be nuts.
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  • Profile picture of the author Reddevil007
    Ask if if there is a pay as you go option but honestly the 50% profits of what you make to him is scares me too...
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  • Hey Bkelly301,

    Every Mentorship is Unique but results are what count.

    You mention drop shipping stores Plural? You also mention Clicbank that is alot of ground to cover.

    What ever you do try to think ahead...what if....perhaps you want to Flip a store and transfer to new owner.

    You mention 50% of Revenue..is he paying any Ad costs? Can he do an email blast promoting your business?

    I remember a marketer here years ago was doing WSOs and paid for Mentor and now a Millionaire but I do not know many.

    Do you have any recurring added to the mix? Might be good to add.

    Art
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  • Profile picture of the author toydistrict
    50% too?

    Forget it and find someone else.
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  • Profile picture of the author Bkelly301
    The 50% thing is only for things that he helps me to create. He's going to help me setup a recurring monthly membership product, Shopify store, sales funnels, teach me how to advertise and test everything. He knows copywriters and graphic designers and lots of other people in various industries. I don't see myself being able to do all this myself. He will be doing a lot of the legwork and whatnot in setting everything up.

    Anything that I currently have in place now that is generating me income (my course), will remain mine 100%. He's also going to help me to setup sales promotions and giveaways, for which I'd also keep 100% of. He wants to help me to make my initial $5000 back, so some of these email blast ideas are meant specifically for that purpose. The fee is primarily to make sure I hustle and don't waste his time. I asked him the likelihood of me still needing his coaching after the first 45 days, and he said it's not likely that I will still need it (coaching meaning him physically setting up all of the systems)

    So the 50% thing will only apply to things that we create together, and will only go into effect once he has me up to a steady certain monthly income level which is better than my current, non-predictable income. Likely $3K per month is when it would go into effect...which means that I'd be doing better than I am now consistently. Any outside help (i.e. Copywriter) that we use will also come out of his end as well

    Also, I know this guy personally and I trust him. There's no one else that I know personally that does this stuff.

    So with that additional info, does this sound like a not-so-bad deal?
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    • Profile picture of the author Gambino
      Originally Posted by Bkelly301 View Post

      I don't see myself being able to do all this myself.
      That's the key variable that nobody can predict. You kind of have to weigh what you think can accomplish alone vs what you think you can accomplish with him.

      My personal opinion is that none of this stuff is very hard and that most people could grasp it with some effort.

      Originally Posted by Bkelly301 View Post

      He wants to help me to make my initial $5000 back, so some of these email blast ideas are meant specifically for that purpose. The fee is primarily to make sure I hustle and don't waste his time.
      As a skeptic I have to ask, what's in it for him? If he can set up all of this in 45 days and have it making money. And he's going to help you make your investment back... then why is he charging you $5,000 and what does he need you for? Couldn't he just set this up for himself without you?

      Originally Posted by Bkelly301 View Post

      So with that additional info, does this sound like a not-so-bad deal?
      It sounds slightly better, if he's going to be paying for things and actively helping run the business. I'd still pass. But I guess it really depends on how much confidence you have in yourself.
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      • Profile picture of the author Bkelly301
        Originally Posted by Gambino View Post

        As a skeptic I have to ask, what's in it for him? If he can set up all of this in 45 days and have it making money. And he's going to help you make your investment back... then why is he charging you $5,000 and what does he need you for? Couldn't he just set this up for himself without you?
        I understand the skepticism, because I am also having the same types of thoughts.

        What's in it for him: 50% of whatever assets that we create together, which is a steady, recurring thing for both of us

        What's the $5000 for: He can make that in a day through multiple other means. However, if he is going to invest his time into me, he wants to make sure that I'm serious about it. Investing $5K assures that he's not wasting his time.

        What's in it for me: I have 8 months before my kid is born. If I don't get this internet thing up to full time income by then, I'll have to go back to my old job. It's not the end of the world, but I'd much rather make a living doing IM which is why I quit my job in the first place 6 years ago (and slacked off for the first 4 years!). Additionally, I will be getting an education from someone that does this over and over again in many different niches who I know and trust. I could create other websites in the future using this education.

        It's a risk/investment for sure, but if I don't do this then in 8 months I forsee myself being in the exact same position I'm in now in the IM business.
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    • Profile picture of the author Frank Donovan
      Originally Posted by Bkelly301 View Post

      He's going to help me setup a recurring monthly membership product, Shopify store, sales funnels, teach me how to advertise and test everything. He knows copywriters and graphic designers and lots of other people in various industries. I don't see myself being able to do all this myself. He will be doing a lot of the legwork and whatnot in setting everything up.
      Why would you want to start a Shopify store from scratch when you're currently selling between $1,000 - $2,000 per month of one product from your own site? Seems like you already have the best sales platform for your course.

      If this high-flying coach sees potential in your product, you could probably approach a handful of big hitters in your niche and offer a split of profits in return for access to their lists or joint promotions. All you'd need to do is demonstrate your product's conversion stats.

      Then put aside a weekend to study some paid advertising methods. It won't cost you anything like $5,000 to test and tweak a variety of ads and placings until you find a profitable formula. Then when you have your own list of buyers, start working on creating more products. There's no need to get involved with fancy funnels, multi-product platforms, dropshipping merchandise stores(?) or affiliate programs until you have a range of products to offer. As it stands, all you'd be doing is wasting the next 45 days trying to cover too much too soon.

      It's your money, of course. But ask yourself if you're not so much looking for a coach as seeking a security blanket to cover your uncertainties.
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    • Profile picture of the author savidge4
      Originally Posted by Bkelly301 View Post

      The 50% thing is only for things that he helps me to create. He's going to help me setup a recurring monthly membership product, Shopify store, sales funnels, teach me how to advertise and test everything. He knows copywriters and graphic designers and lots of other people in various industries. I don't see myself being able to do all this myself. He will be doing a lot of the legwork and whatnot in setting everything up.

      So the 50% thing will only apply to things that we create together, and will only go into effect once he has me up to a steady certain monthly income level which is better than my current, non-predictable income. Likely $3K per month is when it would go into effect...which means that I'd be doing better than I am now consistently. Any outside help (i.e. Copywriter) that we use will also come out of his end as well

      Also, I know this guy personally and I trust him. There's no one else that I know personally that does this stuff.

      So with that additional info, does this sound like a not-so-bad deal?

      For all those asking why would you want all that? Diversifying your streams has ALWAYS been a solid foundation. Have a 1 site that sells a 1 product when we are talking about supporting a family thats SKETCH.

      But look at what the $5k is getting you.. just the Shopify that is drawing traffic and converting is probably worth the 5K Solid Copywriters are not cheap. Graphic artists are not cheap Site the funnels, and setting up the website and this and that and the other.. the guy is INVESTING! He himself is practiccing what he preasches and is diversifying - and leaving you to manage over it

      If you have the money.. spend it, everything you are saying is suggesting it is well worth it... And before you know it you will be on tour with him as a success story.
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      • Profile picture of the author Daniel Evans
        Originally Posted by savidge4 View Post

        For all those asking why would you want all that? Diversifying your streams has ALWAYS been a solid foundation. Have a 1 site that sells a 1 product when we are talking about supporting a family thats SKETCH.

        But look at what the $5k is getting you.. just the Shopify that is drawing traffic and converting is probably worth the 5K Solid Copywriters are not cheap. Graphic artists are not cheap Site the funnels, and setting up the website and this and that and the other.. the guy is INVESTING! He himself is practiccing what he preasches and is diversifying - and leaving you to manage over it

        If you have the money.. spend it, everything you are saying is suggesting it is well worth it... And before you know it you will be on tour with him as a success story.

        Good God.

        At least you've got a sense of humor.
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        • Profile picture of the author savidge4
          Originally Posted by Daniel Evans View Post

          Good God.

          At least you've got a sense of humor.

          Seriously.... look up "Build a Shopify Store" click around a bit... the price tags will shock the snot out of you.. $5k is a drop in the hat. I personally build sites that cost more than that.. I build funnels that cost more than that. I develop facebook ad campaign content IE graphics that cost more than that.... in a world where RESULTS IE CONVERSIONS are a given.. 5k is NOTHING. THATS THE REAL WORLD.

          Go ahead and get all this done on Fiver and see where it gets you. Go ahead and take YOUR concepts and ideas and get them built on FreeLancer and see what happens. SUCCESS breeds SUCCESS.. you want success in your life, you have to join with those that are successful - and you know what? IT COMES AT A PRICE.

          My primary business.. I do CRO ( Conversion Rate Optimisation ) My contract payment goes into escro... I have a period of X days to provide an increase of X% or they keep the money and I work for free. ( and in 3 years of this I have not worked for free yet ) This is what is called a performance based contract. Do you think my service are inexpensive? What exactly is that type of guarentee worth? Ill tell you this, $5k is well south of what my clients think its worth.

          There are levels to the game far above what is normally spoken within this forum. There is IM, and then there is big boy IM, and that language is simply not spoken here. I would venture to say that most of the Big guys of Warrior forums Past all pretty much left for the simple fact, they are hanging out with other people that are more aligned with their thoughts and level of business. You can really only answer what niche should I pick so many times.

          Im gald you thought the post was amusing... but honestly I hope no one is laughing at this point.. its just sad really.
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          • Profile picture of the author Frank Donovan
            Originally Posted by savidge4 View Post

            Seriously.... look up "Build a Shopify Store" click around a bit... the price tags will shock the snot out of you.. $5k is a drop in the hat.
            It's not about the price tag. According to the OP:

            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.
            Forty-five days to get everything in place. And "everything" apparently includes setting up dropshipping merchandise stores, affiliate programs, sales funnels and recurring monthly memberships - for someone who currently has the sum total of one product to his name, which has been his sole offering for the last two and a half years.

            Regardless of the cost, any potential coach claiming that's a realistic target under these circumstances is taking money under false pretences.
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          • Profile picture of the author Bkelly301
            Originally Posted by savidge4 View Post

            Seriously.... look up "Build a Shopify Store" click around a bit... the price tags will shock the snot out of you.. $5k is a drop in the hat. I personally build sites that cost more than that.. I build funnels that cost more than that. I develop facebook ad campaign content IE graphics that cost more than that.... in a world where RESULTS IE CONVERSIONS are a given.. 5k is NOTHING. THATS THE REAL WORLD.

            Go ahead and get all this done on Fiver and see where it gets you. Go ahead and take YOUR concepts and ideas and get them built on FreeLancer and see what happens. SUCCESS breeds SUCCESS.. you want success in your life, you have to join with those that are successful - and you know what? IT COMES AT A PRICE.

            My primary business.. I do CRO ( Conversion Rate Optimisation ) My contract payment goes into escro... I have a period of X days to provide an increase of X% or they keep the money and I work for free. ( and in 3 years of this I have not worked for free yet ) This is what is called a performance based contract. Do you think my service are inexpensive? What exactly is that type of guarentee worth? Ill tell you this, $5k is well south of what my clients think its worth.

            There are levels to the game far above what is normally spoken within this forum. There is IM, and then there is big boy IM, and that language is simply not spoken here. I would venture to say that most of the Big guys of Warrior forums Past all pretty much left for the simple fact, they are hanging out with other people that are more aligned with their thoughts and level of business. You can really only answer what niche should I pick so many times.

            Im gald you thought the post was amusing... but honestly I hope no one is laughing at this point.. its just sad really.
            This is how I am thinking as well. Thank you for your reply .
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    • Profile picture of the author Daniel Evans
      Originally Posted by Bkelly301 View Post

      The 50% thing is only for things that he helps me to create.
      You could minimise the amount he needs to create, by doing it yourself whilst he puts things together.

      Your dedicated time and results will 'prove you are serious', negating the need of an initial outlay.

      Have costs itemized and split down the middle with the 50% of the fundamentals covered up front.

      Upon him accepting this proposal, it proves that you are both serious - as partners.
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      • Profile picture of the author Bkelly301
        A bunch of mixed replies here.....mostly negative, and some I can't tell if they are serious or just making fun of me.

        Reasons my gut is saying to do it:

        1.) I have 8 months to try and get my internet business up to the point where I am making a full-time living because I have a kid on the way. If I don't do it, then I have to go back to my old engineering job that I quit 6 years ago to pursue IM (I spent the first 4 years slacking off, so I'm only 2 years into being serious about this). I don't feel that I realistically could do this by myself in that time period.

        2.) My one product is unpredictable, and alone is not a reliable source of predictable income. I don't really have the time to figure all of this stuff out.

        3.) I have 10K to my name in savings. Once the kid comes, that 10K won't mean jack s***. In my opinion, it's better to risk half of this in hoping that this gets me to my goal in this shortened time period, rather than to play it safe and hold on to this small savings only to end up having to go back to my old job anyway. In short, I'll either be going back to my old job with 10K in the bank having played it safe, or 5K in the bank knowing that I made the wrong move.

        4.) I don't know who on here actually knows what they are talking about and who doesn't. Therefore, I can't trust any of the free advice I'm given 100%. I know for a fact that this guy is successful in IM. The point of this post is just to get other peoples thoughts and ideas about this coaching, and I appreciate the replies very much. However, I know that my $5000 will get me advice from someone that I know is successful.

        5.) I trust him. My band played at his wedding. He is very good friends with my cousin. He even said if this whole thing completely bombs, which is unlikely, then he would give me my money back. It's only a verbal "contract", which doesn't mean anything. But I don't plan on requesting a refund. If anything, I just won't proceed to follow through with the 50% deal if this whole thing flops.

        6.) I pursued him first. He never pitched anything to me prior to me asking him. He said "this is my price if you want me to help you".

        7.) I don't know anyone else that knows about this stuff that I can trust. There may be cheaper "coaches" out there, but I don't have history with them. My gut instinct is that he is not trying to just take my money and run. Rather, he genuinely wants to help me succeed.

        8.) He said that if we can get my list up to 5K to 10K people, and using what he knows...then a conservative estimation would be to expect about $30 to $50K per year from the site per year. 50% of that is better than I'm currently doing on my own. Additionally, the 50% applies only to streams of income that we build together. The stuff I currently have in place is mine 100%.

        9.) For the first months, he will be helping me out in order to help me get reimbursed for the coaching payment (letting me keep 100% of various different sales promotions that we will be testing). He also won't start charging me the 50% until reach a minimum monthly income threshold of $3K.

        10.) At the very least, I will learn a lot no matter what happens. Nothing is to stop me from building another website using this education, since no one owns 50% of ME personally.

        That said, I'm still thinking very hard about it. The $5K is not a concern to me. It's simply an investment that has a risk factor attached to it.

        And regarding the partnership, I'm not signing any contracts without being completely clear and in agreement on the terms.

        I do appreciate all of the replies. I was looking for multiple opinions to help me in making this decision, and this thread did exactly that.
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        • Profile picture of the author Daniel Evans
          Originally Posted by Bkelly301 View Post

          3.) I have 10K to my name in savings. Once the kid comes, that 10K won't mean jack s***. In my opinion, it's better to risk half of this in hoping that this gets me to my goal in this shortened time period, rather than to play it safe and hold on to this small savings only to end up having to go back to my old job anyway. In short, I'll either be going back to my old job with 10K in the bank having played it safe, or 5K in the bank knowing that I made the wrong move.

          Certainly your prerogative, but knowing that $5k is half of your entire savings, the price of this 'coaching' should be primary concern.

          $5k is certainly not 'nothing' as someone took the bold liberty to claim - especially in this context.

          That money should mean even more when you have a kid.

          I agree with an earlier post that you could do most (outsourcing for cheaper if need be), if not everything yourself.
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          • Profile picture of the author Bkelly301
            Originally Posted by Daniel Evans View Post

            Certainly your prerogative, but knowing that $5k is half of your entire savings, the price of this 'coaching' should be primary concern.

            $5k is certainly not 'nothing' as someone took the bold liberty to claim - especially in this context.

            That money should mean even more when you have a kid.

            I agree with an earlier post that you could do most (outsourcing for cheaper if need be), if not everything yourself.
            Having predictable, reliable income is my primary concern. 10K in the bank literally means nothing in the big picture of financial security,
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            • Profile picture of the author Daniel Evans
              Originally Posted by Bkelly301 View Post

              Having predictable, reliable income is my primary concern. 10K in the bank literally means nothing in the big picture of financial security,
              I agree.

              What's more important is supporting a kid with guaranteed income.

              Since your venture is far from guaranteed, you should perhaps consider the job you mentioned, safe in the knowledge that you are $5k up (which can buy a whole load of things), but again, that's your prerogative and your responsibility.
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    • Profile picture of the author Freenancial
      Hi, I'd like to add some information here. I work as a mentor (more about the offline business right now... not trying to get customers) and I think that anything more that a 30% is too much... of he wants 50% of the part he's working in... he should do the changes for free... 25%-30% and for a period of time (1-2 years ahead) it could be better if he's charging you for the changes... hope it helps.
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      • Profile picture of the author OptedIn
        Originally Posted by Freenancial View Post

        Hi, I'd like to add some information here. I work as a mentor (more about the offline business right now... not trying to get customers) and I think that anything more that a 30% is too much... of he wants 50% of the part he's working in... he should do the changes for free... 25%-30% and for a period of time (1-2 years ahead) it could be better if he's charging you for the changes... hope it helps.
        You work as a coach. If you don't know the difference between a mentor and a coach, why would anyone think you have any expertise in any subject???
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        • Profile picture of the author Freenancial
          I think I know the difference and nowadays mentoring it hasn't to be for free. The main difference is that with coaching you don't give sdvices or do any other thing than helping the person find his own answer to the problem... in mentor ship you use your skills and experience to tell him what he could do better ... and of course you can charge him for mentoring. Thanks for your comment, but I think sometimes it seems that you have the only truth... and usually there's not such a thing.. mostly when you are not deep in the thing someone else is talking about. Take care.
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    • Profile picture of the author sonic74
      Originally Posted by Bkelly301 View Post


      So the 50% thing will only apply to things that we create together, and will only go into effect once he has me up to a steady certain monthly income level which is better than my current, non-predictable income. Likely $3K per month is when it would go into effect...which means that I'd be doing better than I am now consistently. Any outside help (i.e. Copywriter) that we use will also come out of his end as well
      Hey Bkelly301, that sounds good. So the initial investment is $5000 and for One to One coaching it's not a big investment. I've already paid myself $1000 for coaching material and access for Private FB coaching group!

      You can even replicate the business model after the coaching and grow from your own,right? Keep us posted with any updates.
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      • Profile picture of the author Daniel Evans
        Originally Posted by sonic74 View Post

        Hey Bkelly301, that sounds good. So the initial investment is $5000 and for One to One coaching it's not a big investment. I've already paid myself $1000 for coaching material and access for Private FB coaching group!
        It might not be a big investment for you, but in context it's half of everything he has.

        Regardless, he can post in the future his conclusion.
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        • Profile picture of the author Bkelly301
          Originally Posted by Daniel Evans View Post

          It might not be a big investment for you, but in context it's half of everything he has.

          Regardless, he can post in the future his conclusion.
          It's only half of my savings. I still have 2 other "jobs" - freelance engineer for my old company and a weekend coverband musician. Between the 2 jobs and what I make on the internet, I do okay as a single guy...Not great, but comfortable for myself.

          However, with a kid on the way, I would either need to go back full to my old engineering job, which I really don't want to do or get this internet thing up to full-time, reliable income levels, which is my ultimate goal.

          It's a big investment to me with the potential risk of losing $5K, but it's not something that is going to leave me homeless or bankrupt or anything.
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  • Profile picture of the author techwizard
    Would you accept giving someone 50% Of you earnings and pay him a recurring $5000 if he's helping you make $30K a month?
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  • Profile picture of the author SiteNameSales
    I don't care how talented and experienced this coach might be. There are no slam dunks in the online marketing world. There are so many variables such as sector, product, competition and, undoubtedly, ongoing costs you'll need to deal with before succeeding.

    You may learn a great deal from this coach, but if you are thinking that availing yourself of his or her expertise is going to guarantee a profitable business, you should think again.

    If this coach is as talented as you say he is you should learn as much about his coaching tips as possible. It could be that becoming a coach yourself will be where the real profits can be achieved.
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  • Profile picture of the author OptedIn
    PLEASE - drop the word, "mentor" from this conversation. You are dealing with a 'coach.'

    Mentors assist you without any expectation of financial remuneration.
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  • Profile picture of the author helisell
    Originally Posted by Bkelly301 View Post

    I've been building my website/brand for the last 2.5 years. I have built up a nice little following in that time (25K youtube subscribers and constantly growing, 400 people per day to my site). I only sell one product from my site, which is a course and I do about ........
    I'll give you 20 minutes on the phone as a freebie [you'll have to pm me]

    At the end of that you'll know what direction to take....whether that's with the mentor in question or with someone else or just use my guidance and go it alone for a while.

    Up to you. I don't normally do coaching for my main living so I'm not pitching you.

    Why would I do this? I'm 66 years old, successful online for 15 years and happy to give a bit back.
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  • Profile picture of the author Kay King
    If you are convinced this coach is as knowlegeable and successful as claimed, and if you can afford to pay this rate...might be a good idea.


    My own concern is whether you are ready to move to this level. You've been on this forum for 5 years - plenty of time to add additional products - to learn to build a funnel, etc. Several times people have suggested adding more products and you have sort of resisted that idea.


    I'd take hellisell up on the offer above to help clarify your plans. Truth is, many who will post in a thread like this are not earning the $1k you are right now.
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    • Profile picture of the author OptedIn
      Originally Posted by Kay King View Post

      Truth is, many who will post in a thread like this are not earning the $1k you are right now.
      Sadly, many are not earning $1, but they're more than happy to provide a litany of suggestions.
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  • Profile picture of the author GordonJ
    Originally Posted by Bkelly301 View Post

    I've been building my website/brand for the last 2.5 years. I have built up a nice little following in that time (25K youtube subscribers and constantly growing, 400 people per day to my site). I only sell one product from my site, which is a course and I do about $1000 per month, sometimes upwards around $2K in a month from just this one course.

    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?

    Thanks!
    Fast forward a year, your babe is a few months old, are you covered for his/her's health needs? Does your old job provide that? Just something to consider, because even with a ton of money a month coming in, you're going to have expenses, so make sure your IM efforts can replace any "benefits" a job might afford you.

    OK. IF you did affiliate marketing, as many here suggest, you'd get on avg. 50% of the sale, right?

    So, if your coach can help you make an extra 1500 to 2k a month, you've doubled your current income right?

    Is there a time line? I'd also take Helisell up on his offer, talk to several people BEFORE you make your decision, but put a deadline on it and MAKE A DECISION.

    All the advice here, isn't getting you down the road is it? As Kay pointed out, you're not new to all this, and your work habits are established.

    I will tell you what you won't have in 8 months, and that is as much TIME. Your time is going to be stretched out, so maybe the job for a year would not be a bad thing. No one can tell you what or which decision is right for you, only you can decide what you want.

    I don't see a downside in this, IF, you are able to follow directions and stick to whatever plan you two agree on, and if this is just one more revenue stream and you work to create others you own and control.

    IT often begins and ends with the answer to a simple question: WHAT DO YOU WANT? Once you have your answer, then the decisions become easier because they either take you toward your goal or away from it.

    If you have until the end of the year to make a decision, go ahead and get some more feedback and talk directly to people. Then pull the trigger without second guessing or regret. Live with whatever you decide.

    Good luck.

    GordonJ
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  • Profile picture of the author Shaz Khan
    [DELETED]
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    • Profile picture of the author OptedIn
      Originally Posted by Shaz Khan View Post

      Hi,

      Greetings of the day,
      Please buy an ad or at least a signature link.

      Reported as SPAM!!!
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  • Wow.

    Go with your gut!

    If it were me, I would not give away equity unless the terms were different. I certainly would not pay him to take half my site. I would want him to work for his equity, so I would not pay a fee for half the equity... and, unless he really is the real deal, I would not let more than 49% go.

    Another idea would be to pay his fee and give him 50% of the net income for a defined period of time (say, a year or two). Under this scenario, you keep all your equity.

    I repeat... go with your gut!

    -Scott
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  • Profile picture of the author tryinhere
    Originally Posted by Bkelly301 View Post

    In addition to that, he charges 50% of whatever the site makes. !
    Don't Walk, Run Away

    Go and buy Russel Brunson's book dot com secrets and do a bit of study yourself for a few bucks delivery on the book.
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  • Profile picture of the author hardworker2013
    I would not take up that offer, that amount seems a bit too high for me. I know lots of top coaches who offer similar 1 on 1 coaching for half that price. Worst yet he wants 50% of your sales? My advice to you is to run as hell! You should do your own research to find who the top coaches are and what they bring to the table.
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  • Two questions for you:

    1. Do you realize you are every forum member's dream? Looking at your progress over the years is actually impressive in a real world (not guru earn a million by lunch on Friday crap).

    Trying this and that, asking about this or that, putting it into play, seeing if it works, etc. until now when you have a steady income. Most people here go a lot longer than you did until getting consistent income. Most people here will never reach the levels you've reached. Most people will never make a single dime online.

    2. Look at your pattern. Look at the questions you have asked and new techniques you've tried, etc. step by step. Do you really think you need to spend these big bucks to take the next step? You said in a previous post that you could figure out anything and you had plenty of time. What are you doing with your time to actively promote since you are doing this FT?

    I am not saying don't use the coach. I'm saying if you've come this far, couldn't you do a little more, add some more traffic, make a few more $ monthly, etc. step-by-step like you've done the last couple of years. Only you know the answer to that.

    Your progress should be faster to get to the second $1000 a month because now you have a foundation of happy customers, a product, site, knowledge, etc. in place. Then you build on that and take it step-by-step to the next thousand.

    At the same time, at some point you'll hit your ceiling of knowledge, resources, money, time, etc. and you will need help in the form of employees, outsourced people, advisors, etc. But are you at that point yet?

    Good luck with whatever you decide.
    Mark
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  • Profile picture of the author Brent Stangel
    you're not so much looking for a coach as seeking a security blanket to cover your uncertainties.
    ...and this "coach" knows that.

    IMO they are trying to take advantage of you.

    Everything you say they will do (funnels, ecom, etc.) is really simple stuff. You seem to not want to expend any more effort than you already have.

    You don't build a list, you don't add more products to your line, you don't promote affiliate products, etc.

    People on this forum have given you excellent advice but have you implemented any?

    I say, pay this joker and then come back in 90 days and tell us how that worked out for you.

    Brent
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  • Profile picture of the author ryanbiddulph
    Hi BK,

    Do you trust him enough to give him half ownership of your site? If not, I'd move on to a mentor you'd trust and also, who would not own half your site. Tons of those folks out there.
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  • Profile picture of the author writeaway
    If he can't agree to MINIMUM RESULT THRESHOLDS, don't do it.

    Thank me later.

    You have to INCENTIVIZE him to do his best.

    Otherwise, $5K to a topnotch guru/proven producer is CHUMP CHANGE / an afterthought

    No wonder, few "mentored" marketers ever make it big (in a verified way!)
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  • Profile picture of the author Daniel Evans
    Unfortunately, the 'Big Boy IM' which you've felt compelled to fabricate and present, does not prove that anything will be a success and the value of $5,000 to the individual in question is not for you to stipulate. Your business too is unrelated.

    If you feel your language isn't spoken here, and no-one is quite at your level, because they simply don't buy into mania and delusion, then it's your prerogative to explore other channels and express yourself there. Meanwhile, the realists will gain a chuckle at the claim, the liberties of assuming of monetary value, the boasting and the attempts at one-upmanship, since that's truly the 'sadness'.
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  • Profile picture of the author savidge4
    lets forget about the money for a moment... there are bigger issues at hand here.. lets talk leverage for a moment. The macro question at hand here is who is mentoring who.. a strange question to ask I am sure many are thinking.. Bkelly is going to layout $5000 for an IM specialist that is basically offering all of his resources and knowledge to "Help" him out. Think about that for a moment.. again THINK about that for a moment.

    SO.. I will play the part of the IM specialist here... Bkelly is a musician by trade.. He has what many would consider a successful self built online business that relates to music. For ME personally.. perspective through my window... My wife runs and Ebay / Amazon sourcing and arbitrage business. We have netted 7 figures this year - good stuff. One niche in particular we stay away from is the mutli billion dollar a year music niches. We simply do not understand enough of the nuances to make a stab at it.

    I am going to more than assume.... the properties that the Im specialist will build will be a niche that Bkelly will have a passion for.. something that he can help in building and expanding... and building and expanding REQUIRE at the very least SOME amount of knowledge and I might suggest that in the Evergreen that is MUSIC.... it will take MORE THAN some.

    The Im guy is saying he wants to set this up that the overall project pays for itself... translation is Bkelly has the KNOWLEDGE and the IM guy has the experience. This has JV written all over it.. a 50 50 partnership in the end both sides are equal in what they bring to the table. The initial $5k is the IM guy ensuring Bkelly has skin in the game, because the only way this will work is if Bkelly participates.

    So to Bkelly.. If what I am reading between the lines is true... The leverage here is actual in YOUR court, and I would suggest working out a 50 50 for the first year, 60 40 the second and settling in on 75 25 the third and then out.

    If what I am reading is not correct... You need to think about your passions and your happiness.. do you want to pedal crap from China for a living and hate it, or do you want your livelihood to be an extension of YOU and your passions? Push for the properties to center around the music Evergreen. YOU will win, and your Coach will win in the end.
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  • You talk about spending the $5000 and still having $5000 left in savings if it goes bad. Do you know how the expenses are going to be paid for paid traffic, funnel software/automation, costs of creating the next product, or whatever else he would recommend? Have you discussed this aspect?


    Mark
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  • Profile picture of the author SiteNameSales
    "I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite." - G.K Chesterton
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  • Profile picture of the author Bkelly301
    Thank you all for the advice and opinions. I have decided to move forward with him. We have discussed the terms, and everything is all good.

    I will be sure to report back with the results either positive or negative.
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  • If my eyes weren't bulging at the $5k price-tag upfront (red flags for me, I could see paying 30% of the total end cost upfront, but no way am I paying 100% full upfront for a service I haven't received yet), and say I loved your work enough to pay an additional $5k 45 days later, I would definitely draw the line at taking any percent of my profits/customers. I'm paying you to get me more customers, so if you then try to take 'commission' from those customers, I'm kind of back at square 1 anyways so what was the point? If I am making $100 a month, and you bring me up to making $300 but then gouge me $150.. I've essentially paid you a premium rate for an extra $50? I could have just worked a little harder through Social Media Marketing and achieved better results, for free! (I used small numbers in my example to keep my point simple - it's not about the numbers I used but the message I'm explaining)

    He sees your potential and is trying to take advantage of you're inexperience in marketing - probably thinking that if you're going to agree to the first $5k, you're desperate enough to do anything. Prove him wrong.

    However, I have no idea what a funnel is, so maybe I am completely off base with my opinion. Still though, for him to even ask for that much of your brand is red flag number 2 for me honestly.
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  • Profile picture of the author Volt
    If you really really want his help and not learn all by yourself I would pay him the 5k for the 45 days and see what he does.
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    • Profile picture of the author Bkelly301
      Originally Posted by Volt View Post

      If you really really want his help and not learn all by yourself I would pay him the 5k for the 45 days and see what he does.
      Yup already done. Any contracts moving forward after things are setup and in place are TBD.

      The 50% deal means we would be business partners - I'd be the content creator, which is my strong point and he would be the marketer. We would create products and optimize sales funnels together, but we would each have our own job to do in making that all happen. We would both equally split the costs to run the business too (i.e. advertising)
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  • Profile picture of the author Kay King
    I have no idea what a funnel is

    But you are giving advice on a high end coaching programs for a specialized niche? The OP will do much better with a coach than with forum help at this point. He's not a newbie - has a product that sells - has made a decision. Look forward to seeing how it works out for him.
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  • Profile picture of the author Zachary S
    So you are going to pay him, to help you establish an online business which you will operate and work on (That's OK), but you're also going to pay him 50% on whatever you make whenever you make it EVEN if he stops coaching you? Sounds like complete f***ery to me. Don't go for those terms. Never give out royalties like that. There are people who are better off than him and they may charge for mentorship but never will they take royalties from you whether it's during or after the coaching is over.

    Sounds like a guy who is more concerned with making a quick buck rather than help you manage on your own.
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  • Profile picture of the author The Postman
    Originally Posted by Bkelly301 View Post

    I've been building my website/brand for the last 2.5 years. I have built up a nice little following in that time (25K youtube subscribers and constantly growing, 400 people per day to my site). I only sell one product from my site, which is a course and I do about $1000 per month, sometimes upwards around $2K in a month from just this one course.

    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?

    Thanks!

    Not a bad deal at all man. I got coaching from Jermaine Griggs when I first started... Best money I ever spent.



    Hiring a coach doesn't mean you stop learning. It just means you can shave off alot of wasted time by knowing exactly what works and doing it.
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  • Profile picture of the author ehlee
    Good decision. You analyzed the pros and cons. Then made a decisive decision. It's not a lot of money for an online venture or business.

    Wish you success!
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    • Profile picture of the author OptedIn
      And still people don't know the difference between a mentor and a coach. lol
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      • Profile picture of the author ehlee
        Originally Posted by OptedIn View Post

        And still people don't know the difference between a mentor and a coach. lol
        How about the difference with a consultant?
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        • Profile picture of the author OptedIn
          Originally Posted by ehlee View Post

          How about the difference with a consultant?
          I give up. How about it?
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          • Profile picture of the author ehlee
            Originally Posted by OptedIn View Post

            I give up. How about it?
            Mr. Big Frank...

            Of course I know the difference between mentors, coaches, consultants and gurus. I was asking you a legitimate question.

            Btw How's your diabetes? Hope you're in good health Mr. Big Frank.

            Ethan
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            • Profile picture of the author OptedIn
              Originally Posted by ehlee View Post

              Mr. Big Frank...

              Of course I know the difference between mentors, coaches, consultants and gurus. I was asking you a legitimate question.
              Really? You just said you know the difference. :-)

              Btw How's your diabetes?
              Battling my congestive heart failure to see which will actually kill me. Neither of them seem to know that the kidney failure has taken the lead. lol

              Hope you're in good health Mr. Big Frank.
              That ship has sailed, but I'm in excellent spirits. That's all that matters.

              Cheers.
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    • Profile picture of the author purdue512
      Fascinating discussion. I know he already decided to drop the $5k and the deal is done.

      Things I'm wondering:

      1) Are you co-located so you can physically sit down together? In my mentoring relationships, that is critical for trust-building

      2) Agree with above, sounds more like a coach than mentor.

      3) How many other people did you talk to (on the phone or in person) before making the decision?

      Curious.
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    • Profile picture of the author Kay King
      It's not a 'mentor' - it's a 'coach'.


      Quite often a new marketer proposes a 'deal' here. They want free coaching in exchange for "50% of my profits". They are generous with profits they have not yet earned.



      A coach charging 50% of only the profit generated THROUGH the coaching - is taking a chance on the student. 50% of nothing is nothing.
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      • Profile picture of the author OptedIn
        Originally Posted by Kay King View Post

        % of nothing is nothing.
        About the same % of effectiveness as most of the so-called, 'coaching' out there.
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    • Profile picture of the author savidge4
      I would say in this case it is neither a "Mentor" or a "Coach" and it is a "Joint Venture" or a partnership. One side is going to do content creation and the other is going to do the internet structure stuff. both are in it 50 / 50 for advertising expenses and the like.
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      • Profile picture of the author OptedIn
        Originally Posted by savidge4 View Post

        I would say in this case it is neither a "Mentor" or a "Coach" and it is a "Joint Venture" or a partnership. One side is going to do content creation and the other is going to do the internet structure stuff. both are in it 50 / 50 for advertising expenses and the like.
        Well, put! My post was to highlight what it wasn't - not what it was. lol
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    • Profile picture of the author Frank Donovan
      The OP stated back in post #43 (13th Dec) that he was going ahead with the deal. Always helps to read the thread before commenting.
      .
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  • Profile picture of the author KIORTY
    It seems quite right to me because many people work exactly like that, they like earning big money in the Internet and are not going to reduce their payments ) but there is always a chance to find a cheaper but less experienced guy
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  • Profile picture of the author chuckholmes
    I would at least get a quote from 2 or 3 other potential mentors to see what their terms are. This would definitely give you some perspective, if nothing else. And on the flip side of the coin, I would never give anyone 50% of my website just for mentoring me. Just my thoughts.
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  • Profile picture of the author fk1t
    wow, very tough situation. I immediately feel for the 50% profit part. I instinctively feel that is too greedy. Your "mentor" wants to turn you into his own passive income stream without doing any work beyond the initial setup. I have a feeling he is legit, but he might be starting with a high initial offer, and is expecting you to negotiate downward from the 50% mark. You'll have to use good judgement on how you justify what a "fair" percentage is. In a way, it makes sense that you owe him a percentage because without his knowlege and help, you would not increase profits. The devil is in the details.

    Personally, I don't want my business bleeding 50% to some guy who feels entitled to it just because he "helped" me. It doesn't sit well with me and, just on THAT, I would not go with the mentor at all.
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  • Profile picture of the author RuthFrench
    Take your time in such matters!
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  • You are basically trying to buy money.....good luck. Rarely works out.

    With the 50% future profits he is asking for far too much imho.

    I hate to bring this up.....but can he replicate your business? What would stop him from doing so?
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    • Profile picture of the author Bkelly301
      Originally Posted by offmarketinvestor View Post

      You are basically trying to buy money.....good luck. Rarely works out.

      With the 50% future profits he is asking for far too much imho.

      I hate to bring this up.....but can he replicate your business? What would stop him from doing so?
      No, I'm getting someone that I trust to help me build a sales funnel. That's the main thing.

      He can't replicate my business because he doesn't know how to teach what I teach. I'm not in the MMO niche.
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  • Profile picture of the author Sujon22102
    You mention 50% of Revenue..is he paying any Ad costs? Can he do an email blast promoting your business
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  • I just came across this story that should give you some inspiration and even insights about taking it big. He teaches bass guitar and has 30,000 members. Note: I'm not affiliated with that site and don't know anyone involved and get no benefit from posting the link here. I just read the story and thought of the OP.

    Mark
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  • Profile picture of the author LEE BYRON
    If I were you , I only negotiate with him about the offer instead of letting him become shareholder of my business.
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  • Profile picture of the author taridan
    If you ask me, I think you should go for it. No amount is too small for mentorship.
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  • Profile picture of the author jeandevenish
    Just go ahead, 50% could be something fair enough if the chances of scaling your business are great. Normally with coaches, you get more than you paid for. Especially when you know that they talk the truth.
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  • Profile picture of the author Jamel Hassell
    I think the mentor you are pursuing is a smart negotiator. You on the other had should not give up ownership of your website for a 5000 dollar coaching fee and lessons.It is not like this guy is an investor buying into your company.

    Secondly.I want to know how much do you consider to be enough to sustain you and your family ? Next year is around the corner.
    Lastly...mentors do not wave magic wands .You still have to learn and put in the work .
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  • Profile picture of the author Rs RizVi
    Truly, the main genuine esteem I see here is maybe for the channel. In any case, I truly can't state that without seeing anything. On the off chance that it's a decent channel and it changes over, the pipe itself could be worth $5,000 or fundamentally more. Setting up a site or an associate program isn't advanced science. I wager somebody on Fiverr is putting forth to do those things.

    All in all, $5,000 just to set things up? Contingent upon the nature of the pipe and what it incorporates, it could be a decent arrangement or an appalling one - as I would see it.
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    • Profile picture of the author GordonJ
      Originally Posted by Rs RizVi View Post

      Truly, the main genuine esteem I see here is maybe for the channel. In any case, I truly can't state that without seeing anything. On the off chance that it's a decent channel and it changes over, the pipe itself could be worth $5,000 or fundamentally more. Setting up a site or an associate program isn't advanced science. I wager somebody on Fiverr is putting forth to do those things.

      All in all, $5,000 just to set things up? Contingent upon the nature of the pipe and what it incorporates, it could be a decent arrangement or an appalling one - as I would see it.
      The singer, not the mystery meat like meal served by poor people. Other channels, tuned into, especially those of esteem and decency, fill the pipe with Fiverr advanced scientists.

      Also, his decision has been made, and he's now implementing and following instructions, but, alas, I...sans sig file, wonder about what channel I'm listening to. And it is a vision or auditory one, or more etheral, tuning into the Universe. I don't know, at times like this I tune into Princess Balestra for clarification.

      The OP asked and rec'd all the opinions he needed to make a decision, what you would do seems, at this time, to be not only spurious, but out of tune to the channel you're on.

      But, I could be wrong.

      GordonJ
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  • Profile picture of the author goodgirlafia
    sounds like a good idea and good prospects.
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  • Profile picture of the author ecomgalore
    I would not do this deal. I would use a big portion of the 5k into actual ad spend on FB or Google. It honestly sounds like you have untapped goldmine. If you have an email list, you should be promoting sales.

    Also, it doesn't sound like you or your friend have any quantitative goals set. I mean, for all we know he could set up your funnel, spend your ad budget, and not get you anymore sales.

    There's a ton of things you can do to make more money. Sprinkle affiliate links into your course where it's relevant. Retarget subscribers who haven't bought via Facebook. Reach out to neighboring youtubers and collab. Get more intimate with your email list, send them on a 3-1 content to promotion ratio.

    Getting set up with clickbank literally takes 2 minutes or any other affiliate for that matter.
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  • Profile picture of the author William Rose
    Dear Bkelly,

    I have understood your point.
    I am a freelance, a business owner and part-time mentor. I suggest, DO NOT AGREE TO ANY PARTNERSHIP. Just take his service or any else service, against of money.

    DO think twice before proceeding.

    All the best.
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  • Profile picture of the author amuro
    I will say every coach has his or her own unique teaching style regardless of their success.

    It is just a matter of whether you are comfortable or not comfortable with it.

    If you are comfortable and money is not an issue, go ahead and invest.

    But if you are not and money is, then perhaps you may want to consider.

    Or learn on your own by -

    1. Reading books of already successful people

    2. Subscribe to their email list, study how they write emails besides what they write about, read their blog posts, watch their videos and even attended their webinars.

    3. Invest in some of their low-to-middle ticket programs and then

    4. Share with others what you learn, benefited or pros and cons of those.

    This is what I do and modeled upon others.
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  • Profile picture of the author salsym
    Originally Posted by Bkelly301 View Post

    I've been building my website/brand for the last 2.5 years. I have built up a nice little following in that time (25K youtube subscribers and constantly growing, 400 people per day to my site). I only sell one product from my site, which is a course and I do about $1000 per month, sometimes upwards around $2K in a month from just this one course.

    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?

    Thanks!
    Being a partner and being a mentor are two different things. If I were you, I won't agree to his terms and conditions. Either he charges his fee for being a mentor or he asks for a stake in your business for all his expertise. He can't ask for both. Better search for more options as far as mentoring is concerned. If you have a budget for $10000, you can even approach giants like Neil Patel.
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