Anybody with an entrepreneur’s heart enjoys talking with other similar-thinking business owners. A business master-mind group gives you the opportunity to develop close, sympathetic relationships with a small number of entrepreneurs who are there to help you, as well as be given your support in return.
In practice, there’s a strict agenda where everybody in the group gets the opportunity to ask for help from all the others. In this way, you help your fellow group members and they help you too. Let’s explore what makes a good mastermind meeting and also dispel some current myths about what mastermind groups don’t do.
First, a good business mastermind is made up of compatible people who “fit” together. There should be no one in the meeting who doesn’t comfortably fit in. The make-up of the group is ideally based on a set of criteria that members determine. For example, business size or a particular industry might be the criteria for a group. Alternatively, maybe every member is an artist or in financial services, etc.
Second, the group needs a clear purpose. A good illustration could be to help every member to enjoy a lucrative and increasing businesswith Chris Cardell. Or it may be to help each member to double their business every year.
Third, your group will have to write down rules. These should involve subjects such as attendance, contribution, responsibility, having only one topic of conversation at the meeting, providing help for other members, etc. Without rules, you will find that some members will be a little too liberal with their behaviour, turning up only when it suits them, or not get involved when the conversation leaves their issue of Chris Cardell.
Fourth, accountability is key. Nobody like the prospect of public humiliation, and that’s exactly what answering to the mastermind group will be, if you fail to follow through on your actions. The value of public accountability should not be ignored – if you have to explain failings to a single person, that’s uncomfortable. To explain to a meeting of trusted colleagues that you’ve been too busy, or simply forgot, will quickly make you so uncomfortable that you’d rather merely get the work done instead of facing the embarrassment of public humiliation!
Fifth, candidness. If group members are not open enough to share their real thoughts, ideas and strategies that have been successful for them, it will be a hollow and empty experience. Of course, this will be the same for them, too – you have to share your knowledge with your group members so that they get something in return for their own candid help.
Finally, a business mastermind group is not a presentation. Too many of the modern marketers have chosen to abuse Napoleon Hill’s original concept by turning mastermind into a clever marketing phrase. They present a teleseminar where they talk and hundreds of other people are muted, listening to their presentation. This is not a mastermind group, it’s simply a presentation of Chris Cardell.
When you create a business mastermind that follows the principles set out by Napoleon Hill in Think & Grow Rich, you have a great likelihood of being in a meeting that will challenge and extend you. This meeting can be virtual or it can be face to face. Your business will develop more rapidly and your own capabilities will be extended, too. At the same time, you’ll enjoy seeing your fellow group members enjoying success too, a real win-win.