My Worst Investment Ever Podcast Brady Slack – What to Look For in a Coach or Mentor
BIO: Brady Slack is the owner of High Country Finance, LLC, a full-service tax and accounting firm based in Utah in the US. His purpose is to be a resource that helps everyone experience wealth while paying the fewest taxes possible.
STORY: Brady came across a coaching group on Facebook that was good at marketing its coaching package. He was fascinated by the package and bought it for $50,000. While it was a good package, it wasn’t a good fit for him as it didn’t align with his business goals.
LEARNING: Vet the mentor, coach, or advisor before you engage with them. Pick a mentor or a coach who embodies what you want to be. Don’t decide out of desperation or pressure.
“If you’re going to make a decision or buy something, or spend money, go to bed first. If you still feel the same in the morning, do it. But if anything’s changed, rethink it.”
Brady Slack
Guest profile
Brady Slack is the owner of High Country Finance, LLC, a full-service tax and accounting firm based in Utah in the US. His purpose is to be a resource that helps everyone experience wealth, all while paying the fewest taxes possible.
Worst investment ever
When Brady turned 23, he quit his job at an accounting firm and started a business. He didn’t have the expertise or the experience to create an accounting firm, but he decided to do it anyway. A close friend, a successful businessman, told Brady that the quickest way to learn and grow is to hire someone. So Brady started seeking out mentors, coaches, and development opportunities.
Brady connected with a group on social media that asked him to speak at their event. He felt this would be an excellent way to reach more people and boost his business. He later found out the group had an offer attached to the back end of the speaking engagement, including some coaching, marketing and advertising, and websites. This was an even better deal for Brady. This all came as a coaching package that cost over $50,000. Brady purchased it.
While the coaching program was great, Brady soon realized that it didn’t necessarily align with where he wanted to go with his business. It just wasn’t the right fit for him.
Lessons learned
- If you need more financial resources to pay for an opportunity, wait until you have it.
- Vet the mentor, coach, or advisor before you engage with them.
- Before you pick a mentor or coach, define your goals, your intentions, and what you want your outcome to be.
Andrew’s takeaways
- Pick a mentor or a coach who embodies what you want to be.
- You may get less value from a generalist, so go for a specialist in your interests.
- Avoid getting sucked into the flashy coaches on your Facebook feed because those guys are great at selling but not necessarily great at coaching.
- Don’t decide out of desperation or pressure.
Actionable advice
Take time to define what you want out of your venture clearly, and then look for someone who has already done that and reach out to them to mentor or coach you.
Brady’s recommendations
Brady recommends getting as much information and education as possible from the numerous free online resources. Further, vet someone who can accelerate the growth within your venture and ask them to mentor you.
No.1 goal for the next 12 months
Brady’s number one goal for the next 12 months is to get his newly launched software to a point where it pays all its capital back and is profitable.
Parting words
“Just keep going. The road to entrepreneurship or becoming successful is 75% hard work, grit, and determination. The other 25% is just a little bit of luck.”
Brady Slack
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Connect with Brady Slack
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- The Become a Better Investor Community
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- FVMR Investing: Quantamental Investing Across the World
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points
- Achieve Your Goals