BSP 077: Mentor to Millions by Kevin Harrington
Kevin Harrington, author of Mentor to Millions: Secrets of Success in Business Relationships and Beyond, is most commonly known as one of the original “sharks” on the TV show, “Shark Tank,” as well as the inventor of the ‘infomercial.’ He has also spent four decades as a ‘serial entrepreneur’ and by writing this book, his focus is helping other entrepreneurs find success through mentorship.
Harrington says that having a mentor – whether in business or in life, can help create exponential effects for the business, which can also add millions of dollars in revenue. As a young entrepreneur, his first mentor was his father Charlie and that continued throughout his formative years. In the ’80s, he came up with a $50 million a year business: the infomercial. By deciding to fill six hours of dead air, he showcased the “As Seen on TV” products, and while successful, it left him strapped for money. He took every money of profit and put it back into inventory. When banks denied him a line of credit, that’s when he decided it was time for a mentor, specifically in the financial industry. Having no skillset in that area, he searched for someone who did – eventually granting him a $3 million line of credit.
Harrington describes mentorship as “free advice,” but it’s more than just advice. He adds, “If you’re going to get a mentor, make sure you’re the mentor’s best student.” It’s not just free, one-way advice. He encourages people to start looking for mentors online, in entrepreneurial groups, and other platforms. However, he says the best place to start is by inquiring within your inner circle. Harrington advises, “The first thing you do is “raise your hand.” However, it goes beyond saying ‘I need a mentor.’ Once you start making inquiries, you must act upon it. Build a symbiotic relationship and take that knowledge and put it into practice.
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