In this post I’ll be talking about how to use a mastermind to grow your business. Mastermind’s were apparently the secret of Andrew Carnegie’s huge success in the steel industry in the 19th Century. He then passed on this secret to Napoleon Hill in his personal development masterpiece – Think and Grow Rich.
Use a Mastermind to Grow Your Business
A mastermind is really simple. You get together with a few people you trust and you talk about how you can grow your businesses. This has a dramatic upturn on the business if done right.
Why does it work? It works because when you sit with a group of your peers – other business owners you know and trust – on a regular basis you get powerful insights. Many business owners have few people at work who they can talk to on an equal basis. Spouses and partners are often not as engaged as we would like. Coaches and consultants have a habit of being yes men.
In contrast your peers tell it as it is. In many cases they will have faced the same problems that you face. They will have found solutions. They will share that knowledge for free. So long as you do too.
A mastermind is thus a great way of getting on point feedback and advice that gets your mind focused on solving your most pressing problems. As the relationship and trust builds between partners in a mastermind it becomes even more effective. Like whisky masterminds get better with age.
Why Masterminds are Good
I’ve been (me being Denis Oakley) in a mastermind with Dan Dass, Marc Allen, Ronan Leonard and Jimmy Dalgleish for a couple of years now. To start with I was a bit awed by their knowledge and how easily they seemed to have solved many of the problems that were affecting my business. After a while I realised that they were similarly awed by my skills and experience.
Over 18 months we have built a deep level of trust between us and whilst we haven’t kept score recently the benefits of a once/week meetup are conservatively $250,000 between the 5 of us. That’s new business generated and costly failures avoided.
It’s also great to have all four of them hold me accountable. I’ll tell them a goal that I am working towards and the next set of actions required to complete it. Invariably someone will hold me accountable a few weeks later.
How are you getting on with that Denis?
It’s a horrible feeling when I realise I’ve dropped the ball and have to confess that I’ve failed to meet my stated goal in front of the group. After that happening a couple of times I now hit my goals on a far more regular basis.
What I have Learned from Using a Mastermind in my Business?
Ronan asked me this very question today. I answered
I found my voice. Two years ago i was aware that I had a stack of talent and experience. I wasn’t going anywhere with it. That’s because I kept everything in my head and as doodles on a napkin. Joining a mastermind got me to talk about my goals and activity. The more I talked the more coherent I became. Then my business did as well.
And sometimes when I kept quiet I learned a lot as well. 🙂
How You Can Use a Mastermind to Grow Your Business
Ronan, as he is the Mastermind Guy, is running a moderated mastermind for the next 3 months. I’ve worked with him now for two years and his impact on my business is huge. I’d encourage you to have a look at his offer and sign up. It’s brilliant. One thing though – the $500. The course is free. The purpose of the $500 is to make it painful for you to quit. The longer you hang in there the better it gets. Remember that whisky!
Final point – if you signup I don’t benefit in other way other than Ronan giving me a big smile at the next mastermind and saying
Final beta call for our Elite Mastermind.
The Magnificent 7 Business Owners 13 week Mastermind challenge
Over 13 weeks 7 lucky business owners will get to work ON their business. This Mastermind will cover off all aspects of business including mindset, new growth opportunities, marketing and tracking your success. It will run over 13 weeks starting late June.
WHAT YOU WILL GET
- Weekly 1 hour Mastermind sessions virtually to work on your business
- Help, advice & support to solve your biggest business challenges
- Expert advice & tutorials around mindset, business growth and marketing strategies
- Multiple tools and resources to help you achieve your growth
- Accountability Partners to help you achieve more
This challenge is for business owners who want to grow their business but have recently lacked some focus or ideas around what to work on next to get the extra revenue their skills deserve.
WHAT IS REQUIRED FROM YOU
- Commitment to turn up to a 1 hour video conference call each week (Tuesday 9.30am Melbourne time)
- Minimum 2 years in business
- Willing to work ON your business not just IN it
- Be an authority in your field/niche
- Complete some basic work each week and report on
- Escrow $500 deposit – We require some skin in the game (Deposit is 100% fully refunded when you complete the challenge)
- Film a quick “1-2 minute results testimonial” at the end talking about what you achieved.
1st group session will be starting – Tuesday 26th June 2018