I went to my Mastermind Group meeting yesterday. I didn’t really think that I had much to discuss. Boy, was I wrong.
All I wanted was a quick approval on the artwork for my new business card. I thought this would take about 60 seconds. Thirty minutes later, my card was totally redesigned.
The members of my Mastermind Group questioned the specific message that I wanted my card to convey. They had me remove three logos that were on the back of the card. My web address was removed since it is part of my email address. Other irrelevant information was removed, so I could use a larger font for the remaining data. Then, they had me add two sets of credentials behind my name; information that I took for granted but would be valuable to a potential client.
My business card was less cluttered, easier to read, established immediate credibility, and was laser focused around the value that I deliver to my clients. The new design was fantastic!
I regularly help clients with their marketing tools, but I was so close to my own situation that emotion got in the way. The Mastermind Group saved me again.
My Mastermind Group is made up of seven business professionals. Once a month, we come together for our regular meeting. Each time we start off by going around the table to give a quick recap of our “numbers” for the month. We openly share all profit and loss numbers.
If there are any other exciting events in our lives, we mention those too. Then, we move on to the next part of our meeting.
The main portion of our meeting is comprised of each member taking a turn to discuss any issues they face. Someone might discuss a personal problem. Someone else may talk about a marketing program that they want feedback on. We’ve discussed profit sharing programs, product development, mergers, collections issues, sales tactics, getting children into college, and more.
Our mastermind group has turned into an indispensable, fast track business and personal growth tool. We help hold each other accountable so that we achieve our desired results.
Major corporations have a board of directors. The President of the United States has his cabinet. Independent business professionals and small business owners need a Mastermind Group to give them the high-powered leverage that the big boys have.
My Mastermind Group has been meeting regularly for eight years. We’ve worked together and watched all of our businesses grow many fold. There isn’t one member that would give up their spot in this group.
Here are four steps that will help you establish your Mastermind Group and put you on the fast track.
Choose Your Members
Find four to six people you feel comfortable with. You can all be in the same industry, or not.
Some people can’t get past the competition barrier. Cavett Robert used to say, “Don’t fight for a bigger piece of the pie. Make the pie bigger.” I like to work with members of my industry. It’s very productive. I have helped people set up groups across industry lines and they’ve been equally successful.
Create a Set of Guidelines
We are very simple. Our policies are:
Everything we talk about is confidential.
New members must be approved by everyone in the group.
Set a Regular Meeting Schedule
We meet on a monthly basis for eleven months of the year. Once a year we go on a two-day retreat and work on our yearly strategic planning.
Have a Set Meeting Format
People need to know what to expect when they come to a meeting. Have a format and a timetable and stick to it. Conversations naturally wander. Keep everyone on track and focused.
When it’s someone’s turn to speak, all conversation should be about that person and their issues. It’s their time!
Celebrate Everyone’s Success
My Mastermind Group is a place where we can share our successes. It’s not bragging in our group. It’s expected!
When we close the big sale, we let everyone know. I just received an email today from a member that told me about a huge book deal she received. Hurray!
Napolean Hill first mentioned the Mastermind Concept in his book “Think and Grow Rich.” It is a power tool, one that every business professional should have as part of their success arsenal. It will help you move to a new level of accountability and results.
Start your Mastermind Group today and you will be on the road to Build a Better Biz!