This blog post is a couple days behind on my normal publishing schedule, because I was focused on preparing for my mastermind group meeting. This monthly meeting has 5 to 10 business owners in various businesses that gather to be better and get better at what it is we do.
In preparation, I realized the funding model I should use for one of my projects was that used by Texas Capital Bank when they expand to a new city. They gather up the business leaders of the city to invest in that new bank. Now they are motivated to recommend the bank to business associates, customers and suppliers.
I described that model to my mastermind group. When they understood my business they recommended an additional market for the service that could easily increase sales by 50%,
What is so amazing is that people who are already in this business for 10 years did not see this new market. I may not have every discovered it on my own.
The time and money I spend on this mastermind is paid for the entire year by this one idea that is not being employed to date and might not have appeared any other way.
In his 1928 version of “The Law Of Success In 16 Lessons,” Dr. Napoleon Hill’s first law is “The Mastermind.”
Dr. Hill credited much of his success to his first mastermind with Andrew Carnegie, the richest man of his time, and his stepmother who was a constant encouragement.
Hill spent 20 years studying “The Law Of Success” before he had any monetary gain from his study. However, he has been credited with helping to create over one million people become millionaires. Before his death in 1970, his one book “Think And Grow Rich” sold over 20 million copies and to date over 70 million copies have been sold.
I would call that success. Maybe the only thing standing between you and your next level of success is getting in or starting a mastermind.