How To Use This Secret To Grow Profits
Posted on February 22, 2008 by
Adie 
General, Promotion 
1 Comment
It was the late Napoleon Hill with his ‘Think And Grow Rich’ to introduce this secret that introduced this concept to the masses. Unfortunately for entrepreneurs, still many haven’t read his book or after reading it, applied this secret.
This secret is a mastermind group.
Unlike you hear from so-called internet marketers who form joint ventures and a close group of friends, a mastermind is pure business and not meant to be ‘fun’. It’s aimed at producing results for the participants and that’s the only reason people should come together at such a meeting.
After applying the secret of masterminding I’ve found great successes, hidden money in my business and utilized strategies unheard of in my industry to instantly crash the competition.
The true power lays in how the group is build and how meetings are done. Building a group isn’t like bringing a group of internet marketers together and have them talk about marketing on the internet. It’s about bringing successful entrepreneurs, consultants and advisors together that all work in a different industry, on a different type of work or job.
The moment you fill your group with those kind of people you have many different minds to tap into. Many entrepreneurs or marketers think the same, so you need to find the people who think differently from you.
Next to that it’s all about what you do during a meeting…
Here’s my personal success formula for Mastermind meetings: first open the meeting with a small motivational speech. Try to include some results from participants in it, and give thanks to everyone that contributes. Then present the main case. One participant who’s business is in desperate need for improvements. Work this out as a case study and take at least an hour to give advice to this person. Afterwards open the table and give everyone five minutes to discuss one problem with the whole group.
By keeping control of the meetings you also control the outcome. Every meeting you should help one participant, and in turn they will feel obliged to contribute. Never forget the principle of ‘you can only reap what you’ve sow’.
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The value of having opinions from people with different backgrounds often goes unnoticed. People tend to only network with those in the same industry as themselves. The drawbacks of this are obvious.