These mentors are professionals who have already achieved the goals that I have set for myself. Of course, a mentor can advise you when facing new challenges. But they can also be a great moral support during difficult times, which are part of an entrepreneur's daily life. In my case, being a mentee allowed me to avoid making serious mistakes. In fact, I estimate that these bad decisions, if they had been made, would have cost my real estate development company at least $80,000.

Two years ago, I had the chance to meet Guy Baillargeon , a lawyer by training and real estate consultant, during a coaching session on real estate flips. He gradually became a mentor who advised me on several occasions. I would also like to share with you some of his advice from a book he co-wrote with Bruno Rako entitled 107 principles for investing in real estate in Quebec .

Subdivide tasks

In this book, the authors state the following principle: before carrying out a large-scale business project, it is preferable to use a Gantt chart . It is a tool used in planning and management to visualize over time the various tasks that make up a project.

In my case, I broke my flipping project down into four stages: prospecting, buying, renovating, marketing, and selling. This gave me a lot of confidence. Frankly, going from flipping $300,000 houses to flipping $1,000,000 houses initially seemed unrealistic in my situation. By using the Gantt chart and assigning a completion date for each stage, this ambitious project suddenly became realistic. It just goes to show that the only limits that exist are the ones we impose on ourselves.

A good deal is always made when buying

Another principle of the book that is worth its weight in gold is this: a good deal is always made when you buy. In real estate, this means buying a property below its market value. Through training, I have learned to find good business opportunities through creative prospecting methods rather than buying a property at market value.

Having made this costly mistake early in my real estate career, I've learned that it's better to be patient and diligent than to buy just for the sake of buying.

A good network

That said, my favorite principle in this book is the importance of cultivating your network of contacts in business. Indeed, the quality of your network is in some way a reflection of the value of your company. This is why the richest and most influential people in this world are also surrounded by people who have been successful in their field of expertise.

Everyone has the ability to build a professional network, but it’s just as important to nurture that network. And before you receive, you have to give. One way to give back to your network is to recommend our contacts to others who may need their services.

Aside from mentors and quality contacts, there is a lot that can be learned from literature, or through the use of audio and video tools. In fact, one of my favorite hobbies is reading self-help books. From Tony Robbins to Dale Carnegie , authors not only give me extra motivation, but also help me develop techniques to improve my confidence, productivity, and many other aspects of my personal life. These authors, to name a few, have become valuable advisors over the years.

So I encourage you to start looking for mentors who can help you achieve your personal and professional goals. I have found that most successful business people are often willing to help new entrepreneurs because they know how important the support of a colleague is to a career. Prominent producer, host and publisher Oprah Winfrey said that a mentor is someone who helps you find hope within yourself.

Looking back, I've found that I've made the worst business decisions when I've asked for advice from inexperienced people. When faced with a new challenge, I now call my mentor to ask for his advice.

I must mention that it is important to choose your mentor carefully. The latter must have your success at heart, first and foremost. This person will have a direct influence on the achievement of your objectives. It is therefore necessary to choose an advisor whose actions are congruent with his teachings. In the jargon, we say that this person " walks the talk ".