Five Qualifiers to Consider Before You Join a Mastermind

Five Qualifiers to Consider Before You Join a Mastermind
Napoleon Hill introduced the concept of a “master mind” in his famous book, Think And Grow Rich. Here’s what he said about Henry Ford’s mastermind:

“Men take on the nature and the habits and the power of thought of those with whom they associate in a spirit of sympathy and harmony. Through his association with Edison, Burbank, Burroughs, and Firestone, Mr. Ford added to his own brain power the sum and substance of the intelligence, experience, knowledge, and spiritual forces of these four men. Moreover, he appropriated and made use of the Master Mind principle.”

Through the ages many great achievers in business (and franchising) have relied on peer or mastermind groups to help them build satisfying and profitable businesses. By tapping into the “sum and substance of the intelligence, experience, knowledge and spiritual forces” of others, many mastermind members go on to build amazing enterprises.

Perhaps it’s time that you join a franchise mastermind, and as you consider the possibilities, here are several things you should know:

1. A mastermind is not for everyone. It’s especially not for people who are “in it” only for themselves. Mastermind members invest time helping each other in a “pay forward” approach. Each member benefits from the creative thinking of all the members. If it’s for you, you will benefit greatly by participating.

2. Participation is required. You can’t pick and choose when you’ll participate in a meeting. Members invest time in you and your business with the expectation that you’ll do the same for them. They want you at every meeting to help them, just as they are there to help you achieve your goals.

3. Implementation is expected. Mastermind members want to see other members to implement what they learn. They revel in the success of a member who put one of their ideas into action and added tens of thousands of dollars to their bottom line. The group isn’t for talkers, it’s for doers. It’s for people who want to generate more revenue and profit.

4. Accountability is part of it. Once you host a mastermind, your “advisory board” (your peers in the group) will help you form an action plan to make improvements in your business. The group expects you to follow through and to report on your progress at future meetings. Most members, in fact, cherish this opportunity to be held accountable by their peers.

5. Confidentiality is a requisite. As a member, you’re in a position of trust. Members open up among peers. Sometimes it’s the only place they can speak frankly about their business and their lives. Each member must honor the confidentiality of the group.

While he wasn’t speaking specifically about a mastermind when he coined his famous phrase, I think motivational guru Zig Ziglar perfectly described a mastermind this way: “You can have everything in life you want if you will just help enough other people get what they want.” That’s a mastermind opportunity. It may be your next opportunity to build the business of your dreams.

John P. Hayes, Ph.D., author, speaker and mastermind facilitator assists franchisors, franchisees and vendors who want to expand their businesses. He has worked with more than 100 franchise companies and has written numerous books about franchising. Learn more about his franchise mastermind opportunities at http://www.FranchiseMastermind.com, where you can also read what many business owners have said about the value of a mastermind

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