Mastermind Groups - A Way To Avoid Trouble

I was reading an article today in BlackEnterprise by Bill Lynott on ways to avoid trouble - Six common and costly management mistakes -- and advice to help you avoid each one. They included:

• Don't do it all yourself.
• Address problems with unsatisfactory employees immediately.
• Don't introduce your business as minority-owned.
• Be cautious about hiring friends or family.
• Focus on customer service.

And my favorite:

Don't be too proud to ask for outside help. Entrepreneurs tend to be independent thinkers, observes Bailey. "That's why they are often reluctant to reach out to others for help in areas where their own experience is lacking." Forming a peer group of five to seven successful business owners (Bailey likes to call it a mastermind group) is an excellent way for a business owner to benefit from a no-cost advisory board.