Posts Tagged ‘business planning’

Did you know that mastermind groups have the power to change your business and keep you sane as an entrepreneur?

For the last few years, I have participated in two mastermind groups that have made all the difference in my business. One is a mixed group of professional speakers and coaches that is focused on a specific career goal and the other is a group of three women in different industries in which I participate every other week. What I enjoy the most about these groups is that it’s a safe environment to share and get strategy advice about my business.

The History of Mastermind Groups:  Napoleon Hill founded the principle of the mastermind group in the early 1900s. He studied Andrew Carnegie, who was known to use the concept of the mastermind to keep his businesses growing and prosperous. Andrew Carnegie kept 50 men on staff just for the development of ideas to grow his steel business. In 1937 Napoleon Hill wrote the now legendary “Think and Grow Rich” book based on these ideas.

One of the biggest challenges in starting a business from scratch is building all the processes and systems by yourself. You spend a lot of time alone with your endless “to do” list and feelings that can be overwhelming. Even more dangerous to an entrepreneur is the isolation—which is the enemy of all small businesses. Your own thoughts can defeat you in business—quicker than any competitor.

Mastermind groups consist of 4-15 people who meet regularly to talk through issues that may be personal or directly related to running your small business. Masterminds groups function best when participants feel comfortable to share their unique views.

The Benefits of Mastermind Groups 

• Mutual support  Regular people do not understand the entrepreneurial lifestyle.  It is a great thing to be able to lean on other small business owners for support.  There are times when only someone who has walked in your shoes can give you advice.
• Resources  Everyone in your group will have access to a different materials, contacts and skill sets. I’ve often found that when I ask for help in my mastermind groups, those resources that I need are a click or a phone call away. 
• Accountability  Mastermind groups hold members accountable to short and long-term goals. Having regularly scheduled meetings forces you to follow-up on your own action plans for your business because no one wants to be the person at the meeting or on the call who hasn’t don’t their homework.
• Differing perspectives  You can always benefit from someone else’s experience. Your fellow mastermind participants may see issues and opportunities with customers or employees that you would otherwise be unaware of. The other good thing about hearing other’s viewpoints is — you can choose to take their advice or not. Most of the time you will take away nuggets that will improve your situation.

Become Your Own Boss Mastermind Group   If you have been following this resource blog, you know that my mission is to end small business failure. This September, I am launching a new program called the Become Your Own Boss Mastermind Group.  It is an intensive 8-week program where a small group of people, led by me will work together to kick-start or reinvent your small business.

I have created this group coaching program to give you one more leg up as you start your business. As a member of the Become Your Own Boss Mastermind Group you will benefit from all of these services.

Here’s an itemized list of what you’re getting.

• Each class is a 90-minute working call
• An autographed copy of Become Your Boss in 12 Months
• Convenient classes available via phone and Internet
• Unlimited email access to Smallbizlady for feedback on homework
• Access to all class recordings
• Access to private Become Your Own Boss member forums
• Step-by-step outline to action plan to Become Your Own Boss
• Discounts on Smallbizlady’s one-on-one coaching services
• Recommendations on start-up tools that will save you time and money
• A special FREE gift worth $197

You can get more info about the program here:  http://succeedasyourownboss.com/mastermind-group/

I also have a payment plan that can work for your budget.  Reach out to me personally — melinda@melindaemerson.com 

At the end of the 8-weeks, you’ll leave the class with a written ACTION PLAN to start or reinvent your small business.  The program starts Sept 7^th, and we have a limited number of slots left; I suggest you jump on it right away. 

Melinda F. Emerson, known as SmallBizLady is one of America’s leading small business experts. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on small business start-up, business development and social media marketing. She hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs and publishes a resource blog www.succeedasyourownboss.com.  Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010) For more information http://www.becomeyourownbossbook.com 

I recently interviewed Stephanie Chandler @bizauthor on Smallbizradio, my monthly show on #Blogtalkradio about how entrepreneurs can develop multiple streams of income.  Small business owners can grow numerous business lines by taking their knowledge and packaging it for sale in the ways that people absorb information: audio, video and written, of course.  The purpose of Smallbizradio is to create a place for entrepreneurs to learn how to grow a successful small business.  We feature top business experts to bring you helpful information to navigate the obstacles of building a growing business. Smallbizradio is recorded live every 4^th Wed of the month at 1pm ET.  To listen or join in with a question here’s the link http://www.blogtalkradio.com/smallbizradio and the dial-in number is (347) 843-4182 AND PRESS “1”

Stephanie Chandler is the author of four business and marketing books including (one of my favorites) From Entrepreneur to Infopreneur: Make Money with Books, eBooks and Information Products (John Wiley & Sons). Stephanie is also founder and CEO of AuthorityPublishing.com, which specializes in custom book publishing and marketing services.  She is a frequent speaker at business events and on the radio; she has been featured in Entrepreneur Magazine, BusinessWeek, Inc.com and many other media outlets.

Listen to the complete interview with Stephanie Chandler http://tobtr.com/s/1063193

In this interview Stephanie answers questions including:

What types of information products are best and easiest to produce?—Teleseminars, tips booklets, workbooks or in-person classes?

Should a small business be paying attention to the competition?

How do you price infoproducts?

What are some ways to market my info products?

What are the keys to info product success?

Here are links to Stephanie’s books:

LEAP! 101 Ways to Grow Your Business

From Entrepreneur to Infopreneur

The Author’s Guide to Building an Online Platform

If you found this interview helpful, join us every 4^th Wednesdays 1pm ET follow @SmallBizLady on Twitter for details on upcoming guests.

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure.  As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. She has been featured on NBC Nightly News, the Tavis Smiley Radio Show, in the Wall Street Journal, Entrepreneur and Black Enterprise Magazine. She hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs and publishes a resource blog www.succeedasyourownboss.com.  Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)