By Jeff Beals
Napoleon Hill wrote one of the most popular business books of all time back in 1937. It was called Think and Grow Rich, and in the 80 years since it was published, more than 100 million copies have been sold.
Though it was released during the Great Depression Think and Grow Rich remains shockingly relevant for professionals working in the 21st Century. The book was the result of Hill’s 20-year study of highly successful individuals who had amassed great personal wealth.
After studying the habits of exceptional people, Hill developed 13 achievement philosophies that lead to success. One of those philosophies was called, “The Power of Master Mind.”
That’s right…Napoleon Hill invited the mastermind group.
In 2017, sales professionals are joining mastermind groups like crazy. They have become super popular over the past five to 10 years even though Hill wrote about them eight decades ago.
What’s a mastermind group?
It’s a group of professionals, usually about eight to 15 of them, who meet on a regular basis to help each other be more successful in a confidential setting. Leadership can be lonely, because there simply aren’t a lot of places you can seek guidance inside your organization without compromising confidential information or admitting your personal weaknesses.
“The Mastermind principle consists of an alliance of two or more minds working in perfect harmony for the attainment of a common definite objective,” Hill wrote. “Success does not come without the cooperation of others.”
I benefit from membership in a mastermind group. I’m part of a mastermind group of 52 sales speakers/consultants located around the world. We’re ostensibly competitors, but we help each other be successful. We view the world from an abundance mentality, which means we work together to increase the size of the pie rather than fighting for pieces of a smaller pie. Just today, one member of our mastermind group sent a message on our private discussion forum seeking advice as to how she could better serve one of her clients. Several mastermind members chimed in with ideas.
If you are asked to join a well-structured mastermind group consisting of high-quality people, consider yourself lucky. You should probably jump at the opportunity. Actively and enthusiastically participating in a mastermind group is hand-down one of the single best things you can do to up your game and improve your life. Here are seven reasons why:
1. You’re no longer on a deserted island. Once you join a mastermind group, you’re no longer alone. Instead, you’re part of a confidential group of outstanding leaders. Many masterminds allow only one person per industry. That means you can openly share information without your direct competitors hearing about it.
2. You gain transferable knowledge. The legendary businessman Henry Ford visited a beef packing plant in Chicago many years ago. Ford took great interest in the way workers processed the beef from whole carcasses into small cuts of ready-to-sell meat. As he observed, it occurred to Ford that if the process was reversed, all the cuts would go back together to form a whole steer carcass again. The metaphorical light bulb switched on in Ford’s head. “I can build automobiles this way,” he thought. Ford returned home to Detroit and promptly created the famous assembly line.
If your mastermind group includes people from different industries, you can learn amazing ideas and apply them to your industry allowing you to jump ahead of your competitors.
3. You constantly learn new things. In The 7 Habits of Highly Effective People, Stephen Covey advises us to regularly “sharpen the saw,” meaning we take time to open our minds and increase our skills. Your profession is constantly changing; a mastermind group can help you stay on the cutting edge.
4. You develop better habits. A good mastermind is highly supportive yet also holds you accountable. If you say you’re going to tackle a new project one month, your fellow mastermind group members will expect to hear about your experiences the next month. This helps you avoid procrastination.
5. You benefit from a “personal board of directors.” A mastermind group functions as your own advisory board. You can go to them and seek counsel for just about anything. Peer-to-peer advising is incredibly powerful because it allows you to get things off your chest, figure out what to do before you do it and discuss possible outcomes before they happen. Just think how successful you can be when you have a group of people who are invested in your success just as you are invested in theirs.
6. You might find new clients. While this isn’t necessary an expressed benefit of many mastermind groups, some of your fellow members might be ideal clients for your organization. Mastermind members tend to become friends. They bond together. There’s nobody better to do business with than somebody you completely trust.
7. You become more confident. When you have the opportunity to discuss the pros and cons of a potential decision with a group of talented and experienced people, you will carry out your decisions with much more confidence.
While mastermind groups are indeed powerful, don’t join one unless you are ready to give it your full commitment. It does require time and effort. If you can’t find one that suits your needs, you might just start one yourself!
Hey, if you have a leadership position in sales, I have the perfect mastermind group for you! It’s called the “Sales Leader Mastermind Group,” and it kicks off this fall. I will personally lead and facilitate this group along with my partner Beth Mastre. I’m recruiting members for it right now. There are four in-person meetings per year – All the other meetings are virtual, so you can join in no matter where in the world you might be. My mastermind group members will also have their own personal discussion forum.
Sales leadership can be a lonely existence. Joining this group will help you create a stronger sales culture, attract talented sales reps and drive more revenue while you better manage both your personal and professional life. Click here to see an info piece about this mastermind or contact me personally at (402) 510-7468.
Jeff Beals shows you how to find better prospects, close more deals and capture greater market share. Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”
Here’s Why Should You Choose Jeff Beals as Your Next Speaker:
“Jeff Beals has presented four different topics at five of our internal events in 2016. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events in 2017!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY
“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil
I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here. He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard. Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA
“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team