CREATE RECESSION RESISTANT CASH FLOW._FREE MASTER CLASS.

Live July 23rd with Scott Meyers

How to Find a Mentor to Help You in Your Self Storage Investing Journey

July 10, 2024

Starting a self storage facility can be a rewarding investment, but like any business, it comes with its challenges. One of the best ways to navigate these challenges and ensure success is to find a mentor. A mentor with experience in the self storage industry can provide invaluable guidance, helping you avoid common pitfalls and make strategic decisions that maximize your return on investment. Here’s how to find a mentor and why it’s crucial for your business.

Why Having a Mentor is Crucial

  1. Industry Insights: A mentor brings years of industry experience, providing you with insights that you might not find in textbooks or online resources. They can share what works and what doesn’t, saving you time and money.
  2. Networking Opportunities: Mentors often have extensive networks. By connecting with a mentor, you gain access to their contacts, which can include potential investors, contractors, and other industry professionals.
  3. Strategic Guidance: From choosing the right location to setting up your facility, a mentor can guide you through the strategic decisions that will impact your business’s success.
  4. Problem-Solving: When challenges arise, a mentor can help you navigate them effectively, offering solutions based on their experience.
  5. Accountability: A mentor can keep you accountable, ensuring you stay focused on your goals and make progress consistently.

How to Find a Mentor

Finding the right mentor involves research and networking. Here are some effective strategies:

  1. Attend Conferences and Industry Events
    • Self Storage Association (SSA) Conferences: SSA hosts several events throughout the year, bringing together industry professionals. Attending these conferences can help you meet potential mentors and learn from industry leaders.
    • Regional Self Storage Expos: Many regions host their own expos and events. These smaller gatherings can be more intimate, offering better opportunities for one-on-one interactions.
  2. Enroll in Academies and Training Programs
    • Self Storage Academies: Programs like the Self Storage Academy offer training and networking opportunities. These academies often include mentorship programs or can connect you with seasoned professionals in the industry.
  3. Leverage Online Resources
    • Webinars: Many industry organizations and professionals host webinars. These sessions are not only educational but also provide opportunities to interact with experts. Participate actively and reach out to speakers who resonate with you.
    • Virtual Events: With the rise of virtual events, you can attend industry conferences and workshops from anywhere in the world. These events often include networking sessions where you can meet potential mentors.
  4. Engage in Social Media Groups
    • LinkedIn Groups: Join LinkedIn groups focused on self storage and commercial real estate. Participate in discussions, share your experiences, and reach out to members who seem knowledgeable and experienced.
    • Facebook Groups: There are numerous Facebook groups dedicated to self storage investors and operators. These groups can be a goldmine for finding mentors who are willing to share their expertise.
  5. Utilize Professional Networks
    • Industry Associations: Joining industry associations like the SSA can provide access to a network of professionals. Many associations offer mentorship programs or can connect you with experienced members.
    • Local Business Networks: Don’t underestimate local business networks and chambers of commerce. They often have members from diverse industries, including self storage, who can offer guidance.
  6. Attend Industry Events
    • Self Storage Trade Shows: Trade shows are excellent venues to meet industry veterans. Attend these events to learn about the latest trends and to network with potential mentors.
    • Workshops and Seminars: Look for workshops and seminars that focus on self storage investments. These events often attract experienced professionals who are willing to share their knowledge.

Conclusion

Finding a mentor for your self storage facility venture is a strategic move that can significantly impact your success. By leveraging conferences, academies, webinars, social media groups, and professional networks, you can connect with experienced professionals who can provide the guidance you need. A mentor not only offers industry insights and strategic advice but also opens doors to valuable networking opportunities. Their experience can help you navigate challenges, stay focused on your goals, and ensure your self storage facility is profitable and maximizing its return on investment.

Investing time in finding the right mentor is an investment in your future success. Start your search today, and build a strong foundation for your self storage business.