Monthly Archives: November 2010

Do You Know This Shortcut To Growing A Profitable Business?

I bought a book twenty five years ago for my business library that has been an exceptional investment.

 

The book's pages are dog eared from use over time and filled with pencil and ink notes.  I paid $8.95 for it; its value to me now is at least ten thousand times that.

Each chapter is filled with sound business advice on how to improve your business and your personal lives.

Chapter 9 has been particularly helpful for me and I'm sure its contents could be the boost your business needs.

It's all about the value of being a member of a MasterMind group.

Don't be alarmed. A mastermind group is not a collection of white coated evil scientists plotting to take over the world.  It's a group of forward thinking individuals who agree several minds working on a problem or goal is far better than just their own.

 

The author describes a mastermind as "a coordination of knowledge and effort, in a spirit of harmony, between two or more people for the attainment of a definite purpose"

 

More simply stated, a mastermind group is a collection of like-minded individuals interested in improving their businesses and themselves by meeting on a regular schedule and capitalizing on the collective thinking of the group.

 

I've been in a mastermind group for over five years. The benefits I've recognized:

 

  • Fresh thinking and discovery of new possibilities for solutions to problems
  • Shared business experience between members
  • Staying positive and continued pursuit of goals
  • Shortens and flattens the learning curve
  • Accountability for your performance to the group

Distance prevents our group from meeting face to face on a regular basis, but an easy conference call at a scheduled time solves the geography problem.

 

Your mastermind group could be two to eight people. More than eight in a group can be troublesome to manage. You might seek help from your group for the following subjects:

 

  • Raising prices
  • New Programs or Services
  • Handling Difficult Employees
  • Launching marketing programs
  • Getting organized

 

If you're aim is to do great things with your business in 2011, start working on joining or forming a mastermind group now.

 

Oh, I almost forgot, the book I mentioned is "Think and Grow Rich" by Napoleon Hill. It was first published in 1937. It is the grand daddy of most business books published since.

 

If you don't own it, get it. You won't be disappointed.

 

 

Decide and Conquer

  

Have you ever noticed most successful people are fast decision makers?

 How did they get that way?

 They didn't learn it in their formal education years when most teachers cautioned them to think before they speak, recheck their math test answers and proofread their essays.

 They didn't learn it from life guidance offered by analog wired Grandpa short circuiting in a lightning fast digital age.

 And they didn't learn it from advice volunteered by their conservative friends with traditional jobs and linear careers.

 They learned it from their internal voice of experience. A voice from within that speaks more confidently with each passing year. Often a whisper, it speaks for your internal processor to make split second decisions with amazing accuracy.

 

 

  •  That colt is going to be a top performer; buy him now.

 

  •  This guy can't be trusted.

 

  •  She'll go two thousand dollars lower on her price.

 

Without consciously thinking through and analyzing stored facts and experiences, your gut knows precisely what you should do. 

 

But conventional wisdom, the obstructionist, begs for more facts, proof and guarantees, just to be on the safe side and you delay your decision. Often the delay results in no decision or missed opportunities.

 

And squelching a deserved "I told you so", your gut listens yet again to your over-thinking brain rationalize another failed decision as "better safe than sorry."

 

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