Making $10,000 In 3 Days

I came across an interesting blog today called "Life Strategies For Today." Today's post was on "Mastermind Your Way To Success."

In it, the author asks what Mark Victor Hansen, Robert Allen, Anthony Robbins, Andrew Carnegie, Henry Ford, Thomas Edison and Ben Franklin have in common - the answer being they all participated in Mastermind Groups.

The author goes on to discuss a Mastermind Group experience and how one particular group works that I thought was worth posting:

In groups of 6-8 we brainstormed how to raise $10,000 in three days. The ideas were mind boggling. As we got more and more excited, our ideas became more and more bold. One group said they weren't stopping at $10,000. They wanted to raise $1,000,000!

I have been in my mastermind for a year now and I couldn't be happier. My business has hit an all-time high. And I credit the habit of masterminding with the lion's share of my success. Here are some of the qualities that work for us.

Keep the number small. My group is 4 people but we could comfortably increase to as many as 6.

Meet regularly. We meet by phone once a week to go over successes and challenges. Plus we put one person on the hot seat for special focus. Then we also meet in person for an all day retreat a minimum of 3-4 times a year.

Don't make anybody wrong. There is no such thing as a bad idea. As soon as you begin attacking the creativity of the mastermind, the ideas will shrivel up. Keep the brainstorm going and you'll be astounded at the new levels of insight you reach.

Treat each meeting as if you paid $100,000 a year to be a member. A mastermind meeting isn't a coffee klatch. The only way it can truly be effective is if everyone takes it seriously and shows up ready to focus.

A word of caution - be very picky about whom you choose to make this commitment with. You will likely be together for a long time. Make it a goal for 2007 to be a part of a mastermind team.

Who You Hang Around With Matters

Alexis Neely writes a blog on family wealth planning. A recent post of hers discusses the importance of surrounding yourself with people who will support your goals and initiatives.

She writes:

When I started making changes in my thinking from negative, limited thinking to positive, abundant thinking, I too changed the people around me. And, when I wanted to make more money, again I found people who were making the kind of money I wanted to make and spent more time with them.

She also brings up the story of Mark Victor Hansen, author of the famous Chicken Soup For the Soul series:

I heard a story about Mark Victor Hansen, I believe. He was making about $2mm a year and had hit a ceiling. He was talking with someone who told him - look at the people around you. And, each of them was making around $2mm/year. Mark joined a mastermind group with people doing what he wanted - making $20mm a year and fairly quickly he broke through the barrier he had previously been experiencing. So, look around at the people in your life and consciously spend more time with people who have what you want.

One of the main benefits of being in a Mastermind Group is surrounding yourself with like-minded people who can help you achieve your goals and get you to where you want to be. If you're joining a group or starting your own make sure to carefully select the members so that they will be complimentary to your success.

Getting the right people is something that we take very seriously in our groups. We use a 3 stage screening process to make sure that the member is qualified and will be a good fit for the group. Make sure that you screen your fellow members and that they will be able add to your success and you to theirs.