(Sample mastermind plan included)
I don’t know about you, but I am fascinated with old books.
Tomes with yellowed pages, outdated type fonts. Sometimes the books even smell a bit. And you’ll find a low price stamped on them that will bring a wry smile to anyone.
When I stumble across a gem like this at a book sale, I know I’ve found something special. Something that has stood the test of time. That wasn’t thrown out during housecleaning, because the owner knew it was valuable.
Think and Grow Rich
Two such books like this are Think and Grow Rich, and Grow Rich With Peace of Mind, by Napoleon Hill. Hill was the author who was commissioned by steel magnate Andrew Carnegie to spend twenty years of his life interviewing the most successful businessmen of his time. And the millionaire challenged him to tell the world the secrets of their successes.
If you have searched for the secrets of running a business, you no doubt have heard of Hill, who lived in the twentieth century and has influenced millions of people. Both books, as well as others by him, spill the secrets on how to build a business, and how to live a meaningful life.
While I don’t agree with all of his thinking, he generally has touched on a gold mine in the area of personal success. Hill outlines 17 principles of success. They cover areas like having a definite purpose, a positive mental attitude, faith in yourself, and so on. Most of these points are about skills and attitudes. Only one concerns a specific activity. And that is, to form a mastermind alliance, or group as it is called today.
Home care owners and mastermind groups
Mastermind groups of one form or another have helped men such as Andrew Carnegie (steel), Henry Ford (automobiles) and George Eastman (photography) become extremely successful. The mastermind alliance was popularized by Napoleon Hill over the years. He said in a video that a mastermind alliance was “Two or more people working in perfect harmony for the attainment of a definite purpose.” In Hill’s book, Grow Rich With Peace of Mind, the author says that “All great achievements are the result of a multiplicity of minds working together harmoniously.”
He also said that two or more minds become a power greater than individual minds combined. According to Hill, you can achieve more in one year with a mastermind alliance than you can in a whole lifetime working by yourself.
Business people large and small can benefit from such a group. I think this is especially true for the small business owner in which there is only one leader. If there is no partner, he or she needs an equal to share ideas, difficulties, and success stories. Other workers in his organization don’t have the experience, or sometimes even the interest to do so. Mastermind members, on the other hand, are intensely interested in moving their companies forward. They often become friends, and help the others prevent one another from making big mistakes.
Sample mastermind plan
This document will spell out one suggested plan for a mastermind group, and offer ideas about how it is to be conducted. I encourage you to review it carefully. It might be the key to your home care business’s success.
The first step for any new mastermind group is to study and then reach agreement with others upon your principles and move forward.
Here are the principles I used recently to form my own mastermind group.
Purpose. The purpose is to grow “mentally and spiritually” in the words of Napolean Hill. Specifically, we want our businesses to grow so that we may 1) support our families, 2) train our children in what we learn, and 3) pass along a legacy of good deeds toward our clients and others.
Member qualifications and details
- Members should be people running their own small businesses as their main source of income.
- There should be no competitors in the same business among members.
- Members must have annual personal income (AGI) of at least $XXX. (These first qualifications ensure that we are more or less equals.)
- New members will be voted on by the current members of the group. There will be a probationary period of one month for the applicant, after which the permanent members will vote upon their acceptance. It is important that personalities must mesh. It is no disgrace if someone is not accepted into the group.
- The group can aim for a total membership of five, although that can be expanded.
Chairman. A chairman will preside over the meeting. He prompts people to respond, and keeps the discussion on topic. You might want to rotate the chairman each week, or each month.
Secretary. The secretary takes the meeting minutes, acts as timekeeper, sends reminders during the week, and sends meeting minutes to others in the group.
Meeting details. Meetings will be held once a week and last no longer than 1:15 hours. If not held in person, meetings will be held over Skype, Zoom, or other video or telephone connection.
Other mastermind takeaways:
- Communication during the week is important, as in this way we keep the discussion going. A secret Facebook group is a good way to do this. Or just emails for smaller groups.
- It is suggested that we, as the founders, each give this mastermind group a two months’ commitment, and do all that we can to make it work well for us.
- Another idea is that we get together in person every month or two, since in-person meetings have a great impact.
Commitment. To reap the greatest benefit from the group, it’s important that members put a thorough effort into it. This means working on your goals during the week, staying in touch with others, and making any preparations needed.
“Hot seat” meeting format. Each meeting will consist of the “hot seat” system, in which one member brings up a problem that he is having, and the other members will ask him questions and offer possible solutions. The person on the hot seat will agree to work out a solution during the following week. He will give a report at the following week’s meeting about his efforts made in solving his problem.
Each week a new member will be put on the “hot seat” and his problem will be examined and discussed by the others.
First meeting. We can briefly discuss what each of us hopes to get out of the group. The first person on the hot seat might discuss the question, “What is the greatest obstacle to the growth of my company?”
Meeting format
- Purpose. The meeting should open with a single-sentence statement about the purpose of the group. It could be the statement listed under “purpose” above. The group might also open with a prayer, if that is acceptable.
- Elevator pitch from each member, especially when new applicants are present. 60-90 sec. each person.
- Member “wins” (10 min. total) Each person will offer his business “wins” or successes, since the previous meeting. This will serve to pump up the group with enthusiasm.
- “Hot seat” review (5 min.) The person who was on the hot seat the previous week, on the other hand, will report on what he did to solve his problem as then stated.
- “Hot seat” discussion (35 min.) The chairman will introduce the hot seat person, and will describe his problem. Others will ask questions and offer solutions.
- Summing up (5 min.) The secretary will summarize the hot seat discussion, as well as review comments made by each person.
- Offer individual goals (5 min. total) Each of us will offer an individual goal that we have for our business that we hope to reach over the next week.
- Next week’s “hot seat.” The chairman will ask for a volunteer to be in the hot seat for the following week.
Overall temper of the meeting. ➤Stick to the meeting’s “hot seat” theme, but we will have fun, too. ➤We need to be open to the others’ ideas. ➤Confidentiality is important. ➤We need to have a good level of trust. ➤Personal matters should not be revealed outside of the meeting.
Caveats. No one person will be allowed to “hog” the floor. In-depth discussions of religion, politics and other hot topics are to be avoided, since they are a distraction from our purpose.
Help Others. Have a major purpose to help others outside of the group, as recommended by Napolean Hill. He suggests having a regular “personal problem clinic” that would be offered to help others.
Amendments. Any procedure or rule in this group can be modified or added to by the unanimous consent of the group.
What experts say
Mark Weisser (from Meet and Grow Rich, by Joe Vitale and Bill Hibbler, p. 90-91):
- “People have to be matched by personalities and how they blend. You put people together who seem to fit together, and then you let the group dynamics work out who stays and who goes.”
- “One-on-one get-togethers between members and between roundtable meetings is essential to the growth of the personal relationships that make the group synergistic.”
Cathy Stucker (from Meet and Grow Rich, op cit.), p. 176-177:
- “Imagine what happens when you join with several others, all focused on helping each other to succeed.”
- “With all the members focusing on creating success for each other, the energy of the group can create success on a grand scale.”
- “Know what you want from your mastermind and what you are willing and able to give. You may want your mastermind group to provide advice and support in a particular area of your business. Remember that giving is at least as important as receiving.”
Let’s make plans and take our home care businesses to the next level!
