Dr. Bob Clarke

Using a Mastermind Group to Grow Your Home Business

Students of business, regardless of their level of formal education, seem to always be searching for the latest and greatest management fad to help achieve more profitsand more success. Frequently though, there is great wisdom to be found in less-contemporary teachings as well. One such example is the Mastermind Group, a group of people sharing a common goal, and sharing insight and wisdom in their pursuit of it.

It seems that every week there is a launch of the next "can't miss" business or marketing tool in network marketing. New and experienced marketers alike chase the latest fads in the hope that they will provide "the answer" to all the problems they are experiencing in their business. But sometimes the answer can be found by looking to the past. Take, for example, the concept of the Mastermind Group, first described by Napoleon Hill in his classic work, Think and Grow Rich. Here, Hill described the Mastermind concept as "the coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony...No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind."

What is a Mastermind Group? It's simply a group of people sharing a common goal, and sharing insight and wisdom in their pursuit of it. In the case of a home-based network marketing business, each person in the group will most likely be pursuing their own individual goalsand businessbut will benefit from the shared experience and expertise of the others.

Starting a Mastermind Group to support your network marketing business is relatively straightforward. The group size can vary, but most experts agree that the optimum size should be between three and six people. Mastermind Group meetings are usually held weekly, and last for approximately an hour or two. Obviously flexibility is the key, but these guidelines are fairly standard. Often the person who founded the group serves as the coordinator and arranges the logistical details of the meeting. The coordinator of the group is usually the one to determine the time and location for the meetings.

But because all of the group members are considered equal, there is no appointed leader. Rotating the leadership responsibilities to a different group member each week is considered to be the best strategy. The agenda for the weekly meeting is up to the discretion of the weekly leader, but typically starts with each group member summarizing their specific goals, accomplishments, and challenges. And this is where the synergies of the group come into play. In a situation where the whole is clearly more than the sum of its parts, the group brainstorming is where the magic occurs. Some Mastermind Group proponents suggest that the entire process of sharing and discussing should be carefully structured. Others feel that a more free-form approach is recommended. Regardless of how you choose to approach it, a Mastermind Group should unquestionably become a part of your overall home-based business success strategy.

Article Tags: Twork Mark

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR