Mastermind – Quite Possibly your Business’s Most Effective Growth Strategy – Smart Business Thinking

Smart Business Thinking by Jim Whelan

Mastermind – Quite Possibly The Most Effective Business Growth Strategy – Smart Business Thinking

CEOs and entrepreneurs focused on improved performance frequently are alone. They should investigate a mastermind group because it connects them with like-minded people. Otherwise, it’s easy to get isolated and stray from business basics.

Mastermind is outlined in Napoleon Hill’s book Think and Grow Rich. Hill studied the richest men of the early 1900’s and wrote the book detailing his observations. 

One of the common practices of those wealthy men was that they took part in a mastermind, helping each other solve problems.

The following are three elements of a mastermind group. Providing an idea of how they work and whether or not they might be for you.

1 – A Mastermind is about helping each other solve problems and move forward in their goals.

A mastermind group is not a networking group, a support group, or an advisor board.  

2 – A Mastermind generates ideas and resources.
A Mastermind uses the education, experience, and influence of the others in the group. When a committed group of business CEOs gives their full attention to one person and her strategic goals, all kinds of ideas are generated. Resources and connections are often discovered in the process.

3 – Masterminds are effective because you expand beyond your old limits.

When you join a Mastermind group, you know it’s not going to be about staying in your comfort zone. In fact, this is one of the biggest reasons people want to take part in a Mastermind! They know that success rarely comes from inside their comfort zones.

The Bottom line?
A mastermind alliance takes effort, commitment, and leadership. As in every endeavor, the results are proportionate to the involvement expended. It is only for those who see the possibilities.

Jim is an expert business coach and a respected advisor to management and financial executives. He draws on his long-term business leadership background to help CEOs grow revenue, increase profits, improve performance.   

Conquer That Dreaded Fear - Smart Business Thinking

Conquer That Dreaded Fear - Smart Business Thinking

The other day I had coffee with Brenda Teal, Founder of The Teal Center for Therapeutic Bodywork, Ltd (client) a massage therapy practice in Arlington, VA. Brenda expressed a fear like many CEOs and solo business owners - the fear of speaking in front of an audience. Usual symptoms are

·      Sweaty palms

·      Shaky hands

·      Sleepless nights

·      Dry mouth

·      Racing thoughts

·      Pounding heart

·      Forgetting what you had to say

 If you hit a bump in the road when you're asked to speak, Toastmasters is the resource to turn to. It is a non-profit organization committed to helping people eliminate fear of public speaking. 

Toastmasters International is a world leader in communication and leadership development. Members improve their speaking and leadership skills by attending one of the clubs.

 In Arlington VA there are 25 clubs to choose from. The meetings typically last one hour and are designed to support all levels of speakers.

Membership in Toastmasters is one of the greatest investments you can make in yourself. At $36 every six months, it is also one of the most cost-effective skill-building tools available anywhere.

While there are no guarantees in life, I promise, after three months, you will loose the butterflies and you will be on the way of being comfortable standing st the podium.

Full Disclosure – I am a member of the Challenger Toastmaster Club in Arlington. I have been a Toastmasters member for 15 years and have marveled at the progress many people have made overcoming their fear of speaking.

Bottom Line?

Get yourself to a Toastmasters meeting.

Invest $6 per month in your self-improvement

Check out Toastmasters International to find a club near you.

Jim is an expert business coach and a respected advisor to management and financial executives. He draws on his long-term business leadership background to help CEOs grow revenue, increase profits, improve performance.   

What’s the distinction between Vision and Goals?

 Vision -in a strategic plan is a crystal clear picture that provides strategic direction of where you want your company to be in the future.  

Crystal Clear - "In three years we are the company's top producing region” – with that focus there’s no doubt where they’re headed. (Notice I said “are” not “will be” – more on that later)

No marshmallows -  "to attract customers we will offer superior service"- you’re doing What to attract Whom?

 Goals - Are the action plan of specific accomplishments that fulfills the vision.

Specific Accomplishment – “We will increase sales to Fortune 500 companies 10% each year for the next three years.” That provides sustainable growth.

Marshmallow - "we will raise our sights to improve market share". Really! What does that mean or accomplish?

Any company that has a definite objective and has thought through the means to achieve it is well on the way to success.

Jim is an expert business coach and a respected advisor to management and financial executives. He draws on his long-term business leadership background to help CEOs grow revenue, increase profits, improve performance.