The Benefits of Building, Joining or Growing a Mastermind Group

Marketing Podcast with Bill Hibbler

Mastermind Groups

photo credit: learningexecutive via photopin cc

Anyone who has read Napoleon Hill’s often cited business classic, Think and Grow Rich will be familiar with the business use of something called a Mastermind Group. Hill’s book recounts how many successful business people rely on a small, tight-knit group of advisors to help them build their businesses.

I’ve long been an advocate of assembling some form of a group of peer advisors, board members or customer collaborators to help you grow your business. As an entrepreneur or CEO you often lack both the filter and the sounding board you need to see things bigger ways.

The right mastermind group can provide these benefits:

Accountability – Simply stating your goals and objectives to a group that intends to hold you accountable for your stated result can have the kind of pull that keeps you focused on meeting your goals

Growth – Many mastermind group members form strategic business relationships that bring additional revenue streams and growth opportunities

Specific knowledge – A group comprised of people from different backgrounds and industries can help you fill gaps in your own knowledge and provide very specific help

Resources – Your group members may very well end up loaning and providing the kinds of resources and introductions that can help you get to the next level in your business

New perspectives – Sometimes having someone from outside your industry question your long held beliefs or suggest innovations from a new point of view can prove very helpful

Support – As a group forms a very close common bond this can be a great place to go for support when you have a troubling business issue

Energy – Simply having a team that understands your objectives and helps you celebrate your wins can be very energizing

There are any number of organizations formed specifically for the purpose of helping people join mastermind groups such as Convene, Vistage, The Alternative Board and EO to name a few. But, you may also find that assembling your own team based on common interests, beliefs, goals, expertise and chemistry is a great way to go as well.

Most industry associations have some form of group opportunity for their members.

Technology and global reach make this an even more desirable option today.

There are many ways to form Mastermind Groups. You can stick the classic style of frequent meetings focused only on goal support or you can create looser, less formal groups that come together to offer routine advice or even collaboration on a common project.

My guest for this week’s episode of the Duct Tape Marketing Podcast is Bill Hibbler, co-author of Meet and Grow Rich: How to Easily Create and Operate Your Own “Mastermind” Group for Health, Wealth, and More

On the show and in his book Hibbler shares his experiences as a participant in a number of Mastermind Groups over the years.

Probably the best nugget I took from this interview was that if you are forming your own group you want to move slowly in the act of recruiting members because chemistry and long-term commitments are crucial for a tight group to form if that’s is your goal.

I believe that every small business owner should find or form their group or network and commit to using this resource as the significant growth tool it can be.

Are You Sending the Message You Want to Send?

Marketing Podcast with Nick Morgan

You’ve probably come upon some variation of the Ralph Waldo Emerson quote – “Your actions speak so loudly, I can not hear what you are saying.” 

Power Cues

photo credit: greggoconnell via photopin cc

When it comes to speaking in public, leading teams or even having a personal conversation, we communicate a great deal about how we are feeling and thinking through non-verbal cues.

Most of the time we are not actually aware of the fact that, no matter our words, we may be sending a very strong message of confusion, fear, angst, doubt, self-importance or disinterest. Now, of course the good news is that we also be sending messages of authority, love, kindness, empathy and trust.

It’s one of the reasons why emails are often misinterpreted. We get so good at understanding through cues when someone is teasing, being sarcastic or genuinely trying to help.

The key is to become aware of the non-verbal things we do, quite often out of habit and deeply engrained thought patterns, so that we choose cues that allow us to communicate our true intent.

My guest for this week’s episode of the Duct Tape Marketing Podcast is Dr. Nick Morgan, one of America’s top communication theorists and coaches and author of Give a Speech Change the World, Trust Me and Power Cues: The Subtle Science of Leading Groups, Persuading Others, and Maximizing Your Personal Impact

Morgan has made a career out of helping speakers and executives break through some of their deeply held beliefs in an effort to more effectively lead, communicate and influence.

Let me quickly point out that none of this work has anything to do with using non-verbal cues as a way to manipulate. Morgan’s work and teachings are all about being your best self by bringing your words and actions together so that you are more clearly understood and heard.

For example, if you’re in a leadership position and it’s not something you’ve always been comfortable with, you may be sending that signal to those you are charged to lead by the way you stand and speak.

Once you become aware of the ways people send cues, you may also be more equipped to read cues sent by others. Imagine listening to a potential client’s concerns through this filter. You may likely be able restart a conversation when you better appreciate what a prospect is really saying by reading visual clues along with words.

Power Cues is a fascinating guide into the subtle and not so subtle things many people do to mix and confuse their message.

Pick this book up today and start becoming much more aware of the message your body sends and you’ll be much more prepared to be heard.

Success Is Often Mostly About Context

This post and podcast are drawn from Duct Tape Selling: Think Like a Marketer - Sell Like a Superstar on sale globally May 15th. Marketing Podcast with John Jantsch On a cold January morning in 2007, a hidden video camera…

Read More

Is Networking a Waste of Time?

Marketing podcast with Derek Coburn The simple answer to the question posed in the title of this post is - maybe. Networking is actually one of the most powerful strategic activities you can engage in if you do it right.…

Read More