It’s Not What You Know, It’s Who You Know!

In business, you often hear the statement “It’s not what you know, it’s who you know!” In the early 1900’s, Napoleon Hill introduced the concept of a mastermind group in his timeless classic “Think and Grow Rich.” He wrote the Mastermind Principle: “the coordination of knowledge and the effort of two or more people, who work toward a definite purpose, in the spirit of harmony.” Hill also wrote, “No two minds come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.” The powerful result of a mastermind group is that there is a synergy of energy and excitement that partipants bring to the group therefore raising the bar by challenging and encouraging other members to create and implement their goals. Being part of a mastermind group has proven to have many benefits to enterprenaurial success:

Idea Sharing, Creativity and Brainstorming

Information is one of the most powerful assets a person can posses and having the ability to leverage other people’s information is exponentially better. Each group member will come with different experiences, perspectives and ideas that will most likely be your next big money making idea. Having the ability to brainstorm and be creative with a group of people all focused on helping you solve a problem is one of the biggest benefits you will experience from a mastermind group.

Accountability and Responsibility

Most goals are not achieved because as business owners, we are not held accountable to anyone to achieve them. It is our business and we want to procrastinate or put task on the backburner because of other operational issues we deal with, which is our prerogative, right? The second biggest benefit of a mastermind group is that they hold you accountable to reach your goals and monitor your actions to ensure you are on the right path. They act as sounding boards, gatekeepers and test groups all the while asking you where you stand with your plan.

Motivational Support

Staying positive and motivated is a big challenge for some business owners especially after the excitement of starting a business has worn off and the business becomes work. Businesses have many different sides to it and not everything runs smoothly all the time. This can be very frustrating and cause many entrepreneurs to become unmotivated. By surrounding yourself with a mastermind group, you will receive positive encouragement no matter how you perform and the active discussions you will participate in will most likely inspire and stimulate you to move forward.

Networking and Business Relationships

A big part of being in a mastermind group is developing solid relationships with your group members. These relationships have been proven to last a lifetime and be the catalyst for millions of dollars. You will form friendships and connections that will provide you more than just business benefits; it will provide you with a sense of belonging and being part of something special.

Additional Resources

In a year where time is money, having access to additional resources is critical to any business owner’s success. By connecting with peers in your mastermind group, you will be provided with access to the resources that others in your group are using to achieve similar results. This will reduce the time required to find alternative solutions as well as the learning curve usually associated with implementing new solutions. Not to mention, you will save time working within a group versus trying to figure something out on your own.


©Kellie D’Andrea & Associates

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