The Fundamental Principles of Bus - PDF document

The Fundamental Principles of Bus iness Success and Achievement of Masterm inding Mastermind groups were first described by Napoleon Hill in a work commissioned by Andrew Carnegie. Mr. Carnegie introduced Mr. Hill to 500 of the leading businessmen, inv en tors and civic leaders to learn their unique secrets and principles of success. These were condensed into a book called Think and Grow Rich. The major finding s by Mr. Hill were :  All successful people had mastermind support surrounding them  All used the principle massively and deliberately Examples of Masterminding  Ben Franklin (called his mastermind Junto)  Founding Fathers – Declaration of Independence  Aristotle, Socrates and Plato  Masterminding is one of the top strategies of successful people (Boa rd of Directors, Board of Advisors)  Edison, Ford, Harvey Firestone and Luther Burbank (Biologist)  Creating of the Greater Akron Business Conference What is Masterm inding? Hill defines mastermind as the “coordination of knowledge and effort, in the spir it of harmony, between two or more people, for the attainment of a definite purpose.” Masterminding is bringing together multiple perspectives, maturities, experience and wisdom from multiple fields of endeavors. We come together to collaborate, to focus, to combine laser like attention on you, your business, and improving its performance, profitability, and impact. Masterminding is scientific, practical, repeatable, and pragmatic principle, strategy and skill for:  Reaching your goals  Achieving Success  Finding solutions/remedies  Massive Innovation  Business Optimization What is the value of Masterm inding? Multiply and leverage the brain power of the entire group to create opportunities to create revenue and grow your business. What is the Objective Masterm inding? The objective of a Masterm ind Group is to provide advice, direction, constructive cr itique, to evaluate and examine, to reduce risk and cost, and to not go it alone. What are the Benefits of M asterm inding? The benefits of maste rminding ar e simple :  Model others success immediately  Be g uided by a group of mentors who have already where you want to go  Provide exposure to a wide source of ideas  Shorten tim e it takes to take a project from concept to reality  Streamline the problem solving p rocess  Create your own personal board of directors  Create more accountability for your goals  Develop strong relationship s  Make more money and wealth  Share your dreams and desires in a safe mode How Co me More People Don’t Use Masterm ind Groups? Maste rm ind groups require people who understand what they know and don’t know and are open to suggestion s, while accepting help from like minded people. When Masterm ind groups fail, they fail because individuals:  Don’t appreciate the value or understand the im pact a m astermind group can have on their business  Don’t feel they are worthy of being helped  Afraid to share their problems, fearing it will make them less of a success in their own eyes  Think they c an solve their problems on their own  T hink they have nothing to give in return  Are a fraid of people stealing their ideas  D on’t appreciate the perspective, wisdom, or ideas of other people or they think they alone know a better way. Why Do Mastermind Groups Succeed? Mastermind groups succeed if those in the group believe :  Knowledge, information, experience and wisdom are the most important asset s o f a business and understand a n endless source of ideas is the best way to move a business forward .  Both the quantity and quality of ideas are necessary to tra nsform a business.  In the power and perspective and significance of other people will enhance theri own perception of themselves and their business es  When multiple ideas are presented at the same time, they can look at all the hybrids, derivates and tang ential possibilities and ideas  They will be given and the opportunity to take off the blinders  P eople want to contribute and help support others in their commitment to success What are the Critical Success Factors for a Mastermind Group? Certain things must happen for a mastermind group t o be successful. Some factors include:  The diversity of people and opinions (non - competing companies)  Different opinions are critical  They are laser focused on a specific opportunity, problem, or project  People reali zing that every meeting, every perspective is important  Meet on a consistent basis  They have a facilitator – n ot the leader - but someone who keeps the group moving forward and redirects as necessary  Everyone gets something of value  Holding people to h igh standards of excel lence. They demand the best of each individual  Crea te an environment to support them in their quest to be the best You Belong in a Masterm ind Group If: Y ou believe that people are the key to your success and that you can’t know eve rything; you believe that other people can help you leverage experience, position, industry an d career and help each other; you believe that meeting people who you are not normally in contact with everyd ay can h elp you; you are willing to contribute selfl e ssly and candidly. If you answered yes, then Masterm inding is for you ! Praxis Now, LLC · PO BOX 5020 PMB 1101 · Rancho Santa Fe, CA 92067 · Phone (858) 227 - 4971 · info@praxisnow.com © 2011 Praxis Now, LLC. All rights reserved. Do not duplicate.