How to Make Exponential Progress in Business

Sometimes, the most difficult part about being in business for yourself is holding yourself accountable to accomplish your purpose. When you’re the boss there’s no one looking over your shoulder to see if things are getting done. Also, it can be challenging to think through your ideas and figure out what direction to take next.

Growing your business and achieving your goals is often the biggest challenge small business owners face.

As an entrepreneur, you know all (or almost all) of the things you need to do to make your business successful and prosperous.  For example, you know you should:

  • Keep your website up to date
  • Network strategically
  • Have a plan for marketing your business
  • WORK your marketing plan
  • Stay abreast of trends in your industry
  • Outsource non-revenue generating tasks
  • Keep your financial records in order
  • Invest in continuing education opportunities
  • Apply what you learn

…and the list goes on.

How do you know what projects to tackle first? What are the exact steps you should take? Which ideas make sense to pursue and which should you ignore? This is where working with a coach and tapping into the support of a mastermind group comes into play. Having high-level support might be the missing piece between where you are now and taking a quantum leap forward in your business.

The basic principle of a mastermind group is that like-minded professionals join forces and commit to helping each other accomplish their goals.  As a group, you celebrate each other’s victories and offer support to help each other achieve specific goals.  One of the essential players in a successful, profitable mastermind group though, is a strong leader.

The leader of the mastermind group should be someone whose success you admire.  In other words, they need to be successful themselves first to be able to give you the direction you need to create the same type of success in your business.  Think about it, would you want to learn from a ski instructor who’s never been on the slopes?

Here’s what you want to look for in a potential mastermind group:

  • A strong, seasoned and dedicated leader that has created the same results in their business that you want to create in yours.
  • A group of like-minded professionals – While they don’t all have to be from the same industry, it helps if there is some common ground for support and they are at the same general place in their business.
  • Regular access to the leader and other members – A forum is a great way to interact with the group and get fast answers to your questions.  It needs to be a safe place, where no question is off limits.  You also want to have regular interaction with the group through virtual and live meetings.
  • A structured program designed with your needs in mind – Having structure is necessary to ensure that each individual receives what they need.  There needs to be clear expectations for the leader and each group member, which creates a supportive environment where each entrepreneur can thrive.

There are many benefits to participating in a mastermind group.  First, you receive unconditional support in your business from people who know and understand what you are going through. While your family may be cheering you on, even the most supportive family can’t understand all the moving pieces in your business.

Second, you have friendly yet professional accountability.  While you won’t get beat up over not accomplishing your goals, a trusted mentor will help you identify why you didn’t reach your goals and then help you overcome those challenges.

Third, you get real life education while avoiding common pitfalls.  Working with a successful person as the mentor of the mastermind group will save you time, money and needless aggravation. Their insights and experience will help you avoid common pitfalls and give you the support you need if you’ve made a few mistakes.  Working with someone who has “made it” is a great motivator and will keep you inspired.

At the end of the day, you are still solely responsible for your success.  However, that doesn’t mean you have to do it all yourself.  Consider joining a mastermind group to reap the benefits of collaboration and help you leap ahead towards accomplishing your business goals.

If you are interested in participating in a mastermind experience and taking a BIG step forward in your business, share with me your name and email address and I’ll put you on the VIP Notification list for my next LIVE retreat coming up in a few months!

Comments

  1. Hello, Sydni. I can share some examples of progress in business. I have been in the home-based business industry for 30 years, owning AA-1 Designs since March 2008. After investing in a $500.00, 3-day workshop, creating an e-zine, and becoming a referral source, community collaborator, fundraiser, affiliater, and mentor (all since 2008), in March 2012 the Business and Professional Women’s Club/North to the Future Chapter (BPW/NTTF) selected me as their Entrepreneur of the Year Award. I felt humbled and grateful at the same time. This week I’m a guest speaker on the SBA Entrepreneur Mentor Month program. I will be sharing how important it is to invest in your business and yourself. This is my way of giving back.

    Besides my business, I also volunteer in my community when I’m not working. One of my volunteer positions is a grief facilitator with Hospice. I have learned to use this skill in my business. After my clients and I get to know each other and they feel more comfortable with me, they tend to confide in me about their parents’ illnesses, deaths of relatives and friends, and their own issues. I use my skill as a free service to my clients. This shows how my company, AA-1 Designs, is different from others and provides a benefit to partner up with AA-1 Designs. I am proud to say that people feel AA-1 Designs is a one-more safe place in the community to talk.

    So besides having fun selling containers to organize desk tops and closets with quality designs, I am also helping people while they go through personal tragedy. This balance helps build the business and build better relationships.

    Thank you for your time in reading this long comment. Take care. Happy Spring from Alaska! Rosella Young, AA-1 Designs, Invest in yourself!

    • Thank you for your awesome comment Rosella! I SO appreciate your willingness to invest in yourself and love how you give back to others. You provide a great example that we can all model. Thanks for all that you do! 🙂