As an entrepreneur, you have no boss to pat you on the back in your successes and no boss to discipline you in your failures.You are completely responsible for the success of your business.
On of the major benefits of a Mastermind group is being accountable for your actions.
Your Mastermind group should motivate and inspire you into action.Reaching out beyond your comfort zone and achieving more than you ever could alone.
When your Mastermind group challenges you, they will hold you accountable for your actions.This is very important to your business because when you succeed, they will praise you for your success.However, if you begin to fail, they will give you constructive criticism so you can reorganize your strategy or method so you will begin to succeed.
There are few places an entrepreneur can find himself accountable for his actions, a Mastermind group is a great place to receive the benefits of accountability.
Is your mastermind super-charged? Well, if you are growing at the speed of light, feeling challenged to play a bigger game, and thinking of ways to take your business to the next level then yes, you probably have a super-charged mastermind.
But for many people in a mastermind, you might actually feel like Debbie did. Debbie stopped me at a recent event where I was speaking to ask me about my mastermind group. I often will talk about how my own personal mastermind group has challenged me to skyrocket my success. Debbie shared with me that in her mastermind group, she felt stagnant. Often her group, as well meaning as they all were, just went through the motions. Many showed up late to the meetings, didn't have any progress to share and seemed as if they were "on another planet."
Debbie was feeling the pain of a mastermind group in burn out. That happens when people get comfortable and don't feel that challenge to rise to the occasion anymore. I suggested that she "super-charge" her mastermind group.
So what are my 3 secrets to a super-charged mastermind?
First, only allow into the group people who share common values of integrity, connection and win-win outcomes. When your mastermind group hits a lull, it will be the common values that create a foundation to push past the burn out.
Second, have consequences for not showing up, being late, or not accomplishing goals. Human beings are susceptible to the "comfort zone." There has to be something at stake to continue to push past that comfort and continue to grow. Each group member must be aware of the cost of not playing by the rules.
Third, reenergize the group by introducing new players. Sometimes you just have to shake the group up a bit and get fresh bodies (and thinking) into the group.
The bottom line is that your mastermind group needs to stimulate, challenge and inspire you to play a bigger game. If that's not happening, you might need to find a new group.
In Napoleon Hills book "Think and Grow Rich" Mr. Hill says there are two characteristics of The Master Mind Principle -
*Economic
* Mental Energy
The economic alliance is the bringing together of the resources which we all readily understand. Resources such as money, time, experience, specialized knowledge and background.
The "mental energy" is more abstract and not as easily understood. Napoleon Hill makes the statement to explain, "No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind."
Napoleon Hill says there are only two known substances in the whole universe -- energy and matter. The human mind is a form of energy a part of it being spiritual in nature. When the minds of two people are coordinated in a Spirit of Harmony, the spiritual units of energy of each mind form an affinity which constitutes the thought energy phase of the Master Mind ... the "Third Mind" from two.
When I read this in Think and Grow Rich (chapter 9) I got to thinking about the physics of Resonance. When two objects "resonate" they are vibrating at the same frequency and in their combined vibration the energy they produce together grows in amplitude or power. Thus two objects in "resonance" produce a more powerful energy together than they would individually. The combined energy is exponentially stronger and more powerful.
Everything in nature is made of energy and has a frequency of vibration - including thought.
When a Master Mind Group is formed the goal is to create "resonate" thinking so that the energy created by the group becomes exponentially more powerful for the individuals towards a definite purpose or goal.
It is vital that the group be in harmony or there will only be a collaboration of resources and even that will be limited by whatever is not harmonious in the group. Without harmony the group will not generate a highly creative level of thought energy.
For some, I realize this talk of "thought energy" seems weird - but there are studies that show that thoughts are energy - vibrations that can be scientifically measured. There is much more that could be said in explanation of thought energy and different levels of frequency in different types of thoughts...but that's another topic for later.
A truly effective and powerful master mind group must
*be in harmony
*have a definite purpose as a group
As an individual seek to be positive and harmonious with your group. Your contribution to the harmony of the group will exponentially benefit your own goal achievement with more than just shared resources.
As a group expect and cultivate a powerful thought energy that is create by your harmonious group that will impact the lives and goals of the individuals.
Before any new member is accepted in one of my Mastermind Groups they must submit a one page overview of their business which will be reviewed by the group. The one pager typically covers the candidate's business experience and shares some personal information their own skills and background.
This overview is submitted to one of the Mastermind Groups who will review it and decide if the candidate should be invited as a guest to the next meeting.
As my groups develop and get more mature, each one takes on its own personality depending on members in the group. They start to decide what characteristics they are ideally looking for when recruiting new members.
On Thursday evening, my third Mastermind Group named itself The Visionaries (instead of PMG-3 which stood for Peer Mentorship Group #3) and we discussed the profile of a new potential member for the group. The group named itself The Visionaries because each member had big visions and dreams for where they wanted to take their companies. They, therefore, also want to bring on new members who share the same philosophy.
A suggestion from one of the group members was to ask new candidates to share with them on their one pager what their 3-5 year vision of their company is. Where does the candidate see herself going? This way the members can decide if the candidate had a big vision and would be a good potential member in the group or not.
I thought it was a fantastic suggestion and will be implementing this rule for all my groups. Any new candidate now who submits a profile to be reviewed by one of our three groups has to include in that profile a 3-5 year vision of where their company is going.
The strength of a Mastermind Group comes down to the people in the group. Anything you can do to improve the chances of getting the right people will make the experience more pleasurable and valuable. I am looking forward to implementing this new tactic and helping my groups attract more ideal members!
One of greatest fears as a newly-trained business coach (that's the mid-90's by the way) was created around the concern I felt when clients either didn't contact me or make any demands on my time and ability.
"After all" I would tell myself "they are paying fees and I'm doing nothing to earn those fees."
Over time, my fear would settle into a deep paranoia - convincing me that it would only be a matter of time before the clients rose up as a body, accused me of being a charlatan and asked for a complete refund of fees.
So I found myself reaching out to them, asking "why haven't you called or emailed me. Why didn't you send a weekly email report, why didn't you join our bridge call?"
I find myself repeating this pattern in the context of our 2007 Dental Mastermind group - 18 principals paying £6,000 each for quarterly meetings, weekly email reports, a monthly call-in day (30 minutes on the phone with me), unlimited email access to me, an on-line forum and a monthly bridge call.
Surprise, surprise.
1. All 18 attend the quarterly meetings; 2. Maybe 20% bother to send any email; 3. Maybe 20% bother to complete a weekly progress report; 4. Maybe 20% attend the call-in days and bridge call; 5. Maybe 10% (!) have bothered to access the forum and post questions or answers.
So my paranoia began to settle in again a few weeks ago - OMG, they are all going to cancel!
But they don't and they won't.
Because they are getting what they want - rather than what I want to give them.
1. 80% of them are perfectly happy to invest £6,000 in quarterly meetings and a very occasional email or call; 2. 20% of them like to dip their toe into one or more of the extra services; 3. And my work schedule is delightfully clear - helping me to help those who need me NOW.
So if I were starting this year's group again - I would still offer all of those knobs and whistles - but I would manage my expectations as far as the take-up is concerned and make it very clear at the start that, like a gym, the facilities are there but if you don't use them, there are no refunds - not that anybody has ever asked for one.
When it's quiet they are happy - they will soon tell you if they are not.
And every now and then there will be evidence that they do actually see you as their coach - such a Saturday morning, when one of my Masterminders called me in dire straits because 2 important team members had resigned on the same day and he was feeling abandoned.
I had a 5-hour drive and a hands-free phone - he had a crisis - we chatted for an hour - and I probably made my year's fee in that call.
We all agree masterminds are rewarding and necessary to grow and expand. What we can learn from others is invaluable. Although everyone is ultimately responsible for their own success, teamwork is essential. Are you taking full advantage of your mastermind?
Distractions are an everyday part of life. They can turn into quite an obstacle if you let them. Do you turn off all distractions when you are participating in your mastermind?
There was a study done on the effects of distraction that had some interesting results. Three groups of people were administered a test. One group was given a desk and chair and the test. The second group was put in front of a computer and given the test. The third group was drunk. All groups had a limited time to take the test.
Not surprisingly the group with no distractions came in first. The group that came in second was the ones that were drunk! The simple distraction of emails coming in and different headlines on the computer screen had dramatic results.
Turn off all distractions:
·Don't worry about the appointments you have tomorrow
·Don't worry about what might be said next, pay attention to the conversation at hand.
·Don't think about how the information will impact your bottom line
·Don't multi-task
Sometimes you may not have control over what's happening in your environment. You can put yourself somewhere quiet. Ask the kids to take the dog for a walk. Turn the ringer off on your phone (you can always call them back) Turn off the tv and the radio. Background noise has more of an effect than you realize.
Take full advantage of your mastermind group by giving it your undivided attention. Missing the smallest things can have a huge impact.
This afternoon, I sat in a Teleclass where Kim Fulcher interviewed Barbara Sher about this book. Many of the audience members commented that they could totally identify with what she wrote. I bet some of my readers can, too.
According to Barbara Sher, scanners are creative thinkers who have an insatiable desire to learn and explore new things. They are usually multi-talented quick learners who are drawn to many interests all at once and want to do everything they are interested in. They get bored easily by repetitive or routine activities. Many scanners appear unable to make up their minds about what they want in life, cannot get started, or cannot finish what they started. That's because the "rewards" they are after in each activity they pursue might be very different from most people can understand. Once they get the "reward" they want in a particular activity, they would lose interest and move on to the next new thing. Because they are drawn to so many things, and they don't want to just choose one thing, some of them end up not doing anything at all. It's like "I won't do anything, if I can't do everything". It's worth noting that although many scanners have ADD/ADHD (including Ms. Sher), it's not the same.
In the book, Ms. Sher identifies 9 types of scanners: Double Agent, Sybil, Plate Spinner, Serial Specialist, Serial Master, Jack-of-All-Trades, Wanderer, Sampler, and High-Speed Indecisive. Most scanners are a mix of two or more types. For example, I can see myself as a Serial Master in some areas, and a Sybil & a Sampler in other areas.
The exciting thing about this book is, Ms. Sher not only identifies the traits of each type of scanners, shares many stories of people she has worked with, but also offers many tools, strategies, Life Design Models and ideal careers for each type of scanners. Guess what careers she recommends for Serial Masters? Career/life coach, motivational speaker, talent agent, teacher, and athletic coach. Hey, I guess I'm on the right track! Coaching certainly allows me to combine many of my passions and interests, and offers enough challenges, variety, and learning opportunities to keep me interested. If you think you might be a scanner, I highly recommend that you check out this book. It's a fascinating read.
One of the success strategies Ms. Sher offers in the book is what she calls a Support Team, which is essentially a Mastermind Group. In her first workshop years ago, after teaching goal-setting techniques, and asking participants to map out their action steps, she set up Support Teams with groups of 6 people. These teams were supposed to set up nightly phone calls and weekly meetings with each other, so they can cheer each other on, keep each other on track until they reach their goals. She has found such teams extremely effective and successful. As she states, "Support combined with accountability creates a Real Deadline".
Isn't it so true that when we make a commitment to someone else, we are more likely to stick to our commitment? That's the power of accountability (which is a crucial component in the coaching process too). A Support Team (Mastermind Group) provides the structure, support and accountability that are so critical for scanners' success. In the Teleclass today, she mentioned the Support Team too, and said that some of the teams she set up lasted as long as 12 years. That's quite remarkable considering that most scanners can't stick to anything for long, which I think is evidence that mastermind groups obviously work very well for scanners (and anyone else, really).
So, what are you waiting for? Pick up a copy of Refuse to Choose!, hire a life coach (contact me for a complimentary coaching session), and join a mastermind group, if you have not done so. You can also check out BarbaraSher.com and GeniusPress.com for an online forum and more resources for scanners.
Let me know what you think. I'd love to hear from fellow scanners!
Have An Area For Members To Share Resources Between Meetings
6 months into my first Mastermind Group I asked the members what I could do to make the groups even better. A common response was having an area where they could connect with each other and share resources in between meetings.
In our meetings the members are frequently referring to contacts, websites, tools, books, and other information that have helped them grow their businesses. They recommend the best places to go, the best people to use and the best ideas that they have leveraged.
The members loved the wealth of resources. The problem was if you did not take down the information on the spot it would be lost. Members would often email me asking for the name of website of an item that was discussed at a meeting three months ago.
We solved this problem by creating a section in our members only online forum off our website. Each member now gets a login and a password that gives them access to the forums. After members share their valuable tips in the meetings they can post it online for everyone else to refer to at any point in the future.
Some of the three groups that I run use this feature more than the others but it has proven to be an effective way to keep all of our information together and have it as a place for people to come back to and connect with in between meetings.
The tools are free to set up and are fairly easy to use. I would recommend that every Mastermind Group have an online tool for the members to share their resources with each other and add more value to the group.
While filing paperwork yesterday at home, I ran across an article I had kept for probably 10 years on my bulletin board. (There's no date on it so I'm not sure how old it is.) It is entitled "Quit Dreaming." The author is writing to potential writers. He says to quit dreaming about putting your opinions down and to concentrate on writing practical stuff, like news reporting. That would be more attractive to an editor than opinions and fiction.
As the years passed, I had forgotten the content of the article and only could see the title from my desk. I began to put my own connotation on the words "Quit Dreaming." They would be as follows:
Quit dreaming and get in there and make your dreams come true. You are not getting anywhere just sitting with your head in the clouds. The world is accomplishing things; why shouldn't you? If you want to be a writer, contact editors with queries and suggest ideas. You've had some success; don't stop there. You can do more. Maybe it's time to write a book; quit dreaming and think about the types of books you like to read. Biographies? OK, what person would you like to write about? What angle would you take? Do research and see if there's an interest for this type of book.
Those types of thoughts have been mine for several years now, especially within the last year as I quit my job to become a full-time freelancer.
And yet, since I've joined a Master Mind group and listened in-depth to motivational speakers, they all say, "Keep Dreaming! Make a storyboard of your goals and put it in front of you daily. Make a list of things you'd like to do in your lifetime. Some of them may take a while to happen, but keep thinking about them and dreaming of them and most likely, they will come true."
To me there is a big difference between the first article I had read and the admonitions from the speakers I've listened to. The writer of the article wanted his readers to find a way to get started in the writing world. He believed fiction was a dead end and didn't want his readers to get discouraged at the disappointments to be found there.
But the point of a Master Mind group is to dream whatever you want and to try to make it come true. Of course, this should all be done with the purpose of helping, and not hurting, humanity and self.
My Master Mind group is helpful at keeping me on track. They don't allow me to get discouraged and push me to Think Big! They know I want to send $10,000 to a children's home in this year. I've been able to send part of that amount so far. With half of the year 2007 left to me, I'm dreaming I'll make that goal. I'm praying for it and I know God will honor that. Meanwhile, I'm working my tail off to make it come true.
The Mastermind Groups that I run typically have between 4 and 8 members. We start with 4 as a founding group and build up to a maximum of 8. You want enough members so that there are a number of opinions to solve the members' challenges but not so many that the individual members do not get enough time to talk about their problems.
Adding new members can be a tricky process. You always want to make sure that everyone is compatible because if two members are constantly add odds with each other it will bring the whole group down. Here is what we do when a new member is interested in joining an existing group.
1) Face to face meeting I personally meet with every candidate face to face at a local coffee shop. I want to make sure they understand the concept of the Mastermind Group and that they are not there to just sell their services. While many sales do happen between members, the point of the group is to have an advisory board for your business rather than a group of people to sell to. I answer any questions they might have, learn about their businesses, and see if there might be a fit with one of the groups based on my knowledge of the members and the various challenges they are facing.
2) Written, one page overview Assuming they are interested in joining a group and I think they would be a good fit, the candidates would prepare a one page overview of themselves and their businesses. It usually comprises of a background on the entrepreneurs, their relative skills, company histories, and a list of the challenges they are currently facing. This one pager would then be shown to the members of the Mastermind Group with the best fit. The existing members read the overview and discuss if they would like to learn more about the potential member. Some of the usual issues that come up are if the new member is a potential competitor / client / supplier of an existing member, if the new member can add value to the discussion, and if the industry that the new member represents would be a missing knowledge base for the existing members.
3) Trial meeting If the existing members agree to learn more about the new potential members, they are invited to a meeting as a trial. The new members have to sign the non disclosure agreement and they participate in the meeting as a full member. They get to meet the existing members and see how the meetings are run. They then get the opportunity to discuss their companies and the challenges they are facing to get the feedback from the other members. After the meeting is over I will follow up during the week with both the new potential members and the existing members. If everyone agrees that the new members brought in value then they are added. Similarly the new members have to have found value from the meeting and from the existing members to want to stay.
The key I have found really is the screening meeting at the coffee shop. I do most of the eliminating because I know what the groups are looking for and who makes a good member. By the time the new members get to submitting the overview and coming to a trial meeting they are usually accepted in the group.
Here's a great exercise to share with your Master Mind group that came from Jack Canfield's fabulous book, The Success Principles. The purpose is to clarify the vision you have for your life:
On a piece of paper, write down at least three things you want to achieve in each of these seven areas: Financial, Career, Recreation, Physical Health, Relationships, Personal, and Community. Let your mind relax and open up to answers that perhaps you've forgotten about that still are truly dreams you want to achieve. When complete, review your vision daily, once in the morning and again at night before going to bed. This will keep your mind focused on your vision so that aspects of it can begin to manifest.
Taking it one step further, he says to "share your vision for maximum impact", perhaps with a friend whom you can trust to be positive and supportive of your dreams and goals. Upon facilitating this exercise with a class this week, I thought "what better way to share and utilize the power of a Master Mind group?" Why not do this exercise individually and then take turns sharing a particular area with the group and ask for their support while you work toward achieving it? Just like a supportive friend, a Master Mind group will hold your goals in mind and even offer ways to help you make them come to life. By sharing your vision with supportive people, your own belief that it can actually come to fruition becomes that much stronger.
Yet another powerful case for Master Minding - getting a vision of what you want out of your own head, onto a piece of paper, then out among a group of people who only want the best for you. Let them help you realize your dreams!
A week ago I spent 3 action packed days with my 11 member mastermind group in the Ritz Carlton Hotel in Montreal.Two members live in the U.K., the balance live in Canada or the States.We get together twice a year for three days sharing the common expenses of a hotel meeting room and administrative costs. Everyone pays their own way and we splurge on a comfortable meeting place because environment matters.
It's a serious investment of time and money and a serious group attending.However, our serious sides are tempered during our meetings with laughter and as later, as we get together for dinner even more laughter with occasional moments of silliness.We are immersed in our work together with few distractions from the outside world.I don't bother reading the newspaper or even watching the weather forecast.
We've evolved into a tight group.And, what happens in mastermind stays in mastermind.
Because of that, it's an open forum.Wide open as in closet skeletons sometimes rattle, blood pressure elevates and tears leak.And that's all good because we're self employed and we push ourselves and our fellow group members.
All of us have 101 good reasons not to attend a mastermind group meeting, including time, money and lack of support for our businesses while away.
We have one good reason to attend.
Success.
Hang out with the best in your field and watch your business grow.
EvanCarmichael.com is the world's #1 website for small business motivation and strategies. Evan also runs a series of successful Mastermind Groups in Toronto for entrepreneurs.
Guest Contributor: Damon Clifford
. I first heard of this book from another coach I was working with last year. She is a "scanner" and could see the same quality in me. After reading the book, I have to agree with her.
