Masterminds: Multiplying Business Growth

There is a not-so-secret “tool” I used to grow my business tenfold in the first eight years… and then grow it 20 times bigger after that.

That tool? Masterminds.

Masterminds have played a big part in my success since first joining one in 1992.

Now, you couldn't pay me NOT to be in one. And, if you're serious about growing a business, you should be in one too.

But what makes a mastermind such a powerful tool for growing your business?

Collective Intelligence = More Actionable Insights

As I write this, I am meeting with the high-end mastermind group I created over 13 years ago. It's called Platinum Plus and we meet two or three times a year.

In our meetings, we cover a wide variety of topics. For instance, one of the hot topics right now is artificial intelligence (AI). So we put our heads together and brainstormed the top dangers AI presents to our businesses, the top opportunities it provides, and the strategies we need to stay ahead of it.

And this is just one example of what makes a mastermind so powerful – our collective creative brain power allows us to dive deeper into topics – and get more actionable insights we can use to grow our businesses – than any of us could ever do on our own.

Transforming Your Business through Masterminds

When mastermind members focus their collective creative power on each other's businesses, the resulting impact is simply extraordinary.

If you're facing a challenge in your business, having some of the greatest minds you know all focusing on solving it fills you with an unstoppable confidence that can propel your business to new heights.

Of course, you also get to help and serve other members of the group, as you each lift each other up.

In my mastermind, we've seen entrepreneurs go from earning $100,000 a year to building high seven and eight-figure brands. That's the power of a mastermind.

What Type of Mastermind is Right for You?

Through the years, I've been a member of various types of masterminds. Some were small, tight-knit groups of three or four people, focused on a common business, and connected through regular phone calls. Other groups were slightly larger, and “met” only via email.

There are also lots of in-person masterminds – like Platinum Plus – that are very high-end, requiring significant investment.

The key is to find a group – and format – that works for you… and then stick with it. That's how you cultivate powerful connections that will really help move the needle for your business.

Connections and Creativity

When I started my mastermind, I saw it as a potentially profitable business model… and it is. But the money pales in comparison to the priceless connections I've made and the creativity that these groups have sparked within my business.

My business has evolved continuously since starting my mastermind back in 2010, and that's largely due to the inspiration I get from being in a mastermind.

There's just something magical that happens when you focus the collective brain power of business owners onto your business. Achievements and progress that would take you years on your own can be achieved in months and sometimes even just weeks when you find the right group.

Wherever you are on your business journey, don't travel alone. Join a mastermind. And if you can't find one, why not create your own… like I did.