If you've seen success in your entrepreneurial endeavors, would you be willing to spend some spare time mentoring an aspiring entrepreneur? By "mentoring" I mostly mean having email conversations when you have time to respond to any questions asked. For example, imagine a young web developer who's attempting to start another business, but wants to avoid mistakes he may not even know he could make.<p>What factors would influence your decision?<p>How much would you charge for your time? What would be expected of the "apprentice"? What would make it worth it to you?
I do this. It's called being an advisor to your business.<p>I charge US$325/hour or take a % in equity (mostly standard vesting terms with a cliff).<p>I work with 3-5 startups at a time. What I do depends entirely on the startup. For some I just end up being a sort of confessor or therapist. For others I participate in strategy meetings, give feedback on products or services.<p>And while I charge, I don't do it particularly for the money. I found that if I didn't charge something, if there wasn't some cost, then my time got treated as an unlimited resource, which it isn't<p>And no, I'm not looking for additional mentees at this time.
You need to do some research! Apprentices don’t pay. You pay them! You teach and offload boring work to them. That’s how it has worked for hundereds of years. Stop being a selfish greedy mortal.
None? Usually if someone asks you to pay them to mentor you that's a complete scam. I think anyone willing to pay for that from some self proclaimed expert has already failed. Advisory shares tied to specific deliverables are different- if a world renowned researcher is willing to help you out and connect you to industry leaders and all then a few advisory aharea to bring them on as a board member makes sense, but that's tied to helping the company.