Is there a secret tool to help your business flourish?
Yes- it’s called a Mastermind Group
Dear Fred and Lyna:
I have been struggling with several issues with my business and desperately need help. One of my friends told me that I should join a Mastermind Group. Do you think this would help and how do I go about finding one?
Little Rock, AR
Fred: Hey Lyna, this letter is right up your alley. I didn’t even know about this concept until you mentioned we should join one for our business.
Lyna: Well Fred, I’ve been in 3 Mastermind Groups in the last 12 years and each one has really helped me find clarity and create some huge transformations in my life.
Fred: That sounds pretty powerful. How did they do that?
Lyna: Well, my Mastermind Groups were made up of 6 dedicated people. We brought our own business backgrounds and life experiences to the meetings, which were held every week by phone. Not only did we celebrate each other’s successes; we helped set out goals for each of us to accomplish before the next meeting and kept each other accountable.
Fred: If there were 5 people who expected me to do work I promised to complete by a certain time, it might cure any excuses that arise to procrastinate. I wouldn’t want to let them down- or lose their respect.
Lyna: And yet there is no judgment made among the group. However, by not following through on doing what you need to make your business a success, how effectively would you contribute in helping me find ways to grow mine?
Fred: has that ever been an issue on one of your groups?
Lyna: Actually. The first group I took part in met locally. There was one member of the group that never did her “homework” and eventually would complain at each meeting about how everyone was making huge accomplishments with their goals- but her. Eventually she stopped coming.
Fred: OK, so how do you find a Masternind Group? And how do people get selected to join one?
Lyna: I was very fortunate to be part of a mastermind 8-week class. About 100 people were in this class and as the weeks went by; we were interviewing each other to find the 5 people we wanted to work with.
Fred: What kind of people were you looking for? Where any of them personal friends?
Lyna: If you understand that a Mastermind Group can help you overcome past tendencies that kept you from succeeding. You will realize that having someone who knows you and all your past faults could be a bad decision.
Fred: Do you have an example to explain this?
Lyna: Yes- in my last group, two close female friends joined the group. A few months later, one started reminding the other of her bad work habits. This affected the whole energy of the group. The badgered friend finally dropped out and also stopped talking to her friend.
Fred: So whom would I want to Mastermind with?
Lyna: People who are highly motivated. Positive and want to better their business as well as help others find ways to grow theirs.
Fred: I wouldn’t feel comfortable with a competitor.
Lyna: Look for people you meet at group functions or even networking web sites. Or put an ad out and interview those who respond.
Fred: So what are we waiting for? Lets find us a Matermind Group!