Short Cut to Real Estate Investing Success – Form a Mastermind Group
Posted by admin under: Auction Schedule Jan 26
Mastermind Groups are a fantastic way to get ahead in business.?Napoleon Hill pioneered the idea in his book “Think and Grow Rich”.?It is just one of many powerful ideas from the book and an idea sure to positively impact your income and your business.
One of the Secrets of Success
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One of the most important things you can do to enhance your success in real estate investing is to become a member of a mastermind group.?A mastermind group is a small consortium of like-minded individuals coming together to share experiences for the benefit and growth of each individual member.
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It is extremely important.?Participating in a mastermind group will shorten your learning curve tremendously because everyone will benefit from each other’s experience.?It will also serve as an accountability group to make sure you continue to move forward amidst obstacles.?And there will be obstacles.???
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Unlimited Support and Accountability
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When things are not going so well, the group will act as a support network to get you headed back in the right direction.?You will also benefit from the constant motivation factor added by multiple members of the group.?When one person is experiencing the roller coaster of emotions and veering toward thinking negatively, the mastermind group will be there for support.?Everyone in the group will be like-minded so each person will be able to understand what the other is going through.
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Members do not have to be interested in the same area of real estate investing.?As a matter of fact, you may benefit more if each person focuses on a different niche within the real estate game.?Someone may want to wholesale.?Another member may only want rehab properties.?Then there is buy and hold guy.?What if one person only wants to work short sales??Well, it sounds like the makings of a great group to me.?It will seem like you are all doing deals in the various niches at the same time.?How’s that for gaining experience?
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There are just so many benefits to being a part of a mastermind group I believe it is and absolute necessity.
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How to Form Your Own Mastermind Group
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You don’t have to go search for one; you can form your own.?That’s what I did.?Try to find people that are equally committed to growing their real estate investment business.?The members should be individually pursuing success and only need to look within themselves for motivation.?That way everyone will always pull his or her own weight.?Keeping the group numbers down to six or less will ensure equal attention and benefit to all members.
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Establish the Guidelines
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In the beginning, you will want to establish a mission statement.?Have each individual write his or her own version.?Then, have a meeting about it to share and come to some type of agreement on your mission, as a group, going forward.?
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I suggest you establish rules and guidelines for membership in the group.?This way each person knows what is expected of him or her.?The rules are also there if someone needs to be reminded to pull their weight or in the event you have to oust a member.
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You should also form a meeting schedule.?You could meet via teleconference or in person.?I suggest both.?My mastermind group conducts weekly meetings via phone and at least one in person meeting per month.?We also keep in touch with each other throughout the week.?The interaction has simply been invaluable.
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Growth
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All I can say is forming my own mastermind group has been one of the best business decisions I have ever made.?It has taken my business to another level and still rising.?In fact, everyone in my mastermind group has experienced a boost to their individual businesses.?I know you will experience the same.?
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If you want to take your business to the next level, form a mastermind group.?It may take a second to find the right mix of people but it is well worth the time.?After all, great business owners and millionaires utilize mastermind groups as a major part of their inner circle.?I didn’t make that up. ?Napoleon Hill discovered this for himself during his 20 years of research leading up to writing “Think and Grow Rich.”?
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There is a reason why successful people believe it is essential for success.?Mark this as one of your immediate and mandatory goals.?It is that important.?Then sit back and experience the growth.
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Thursday, January 26th, 2012 at 7:22 am and is filed under Auction Schedule. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.