Bill Bartmann: How To Accelerate Wealth Creation Through A Mastermind

Bill Bartmann: How To Form A Mastermind To Accelerate Wealth Creation

Bill Bartmann encourages all of his students to have a board of advisors, which is a powerful tool to create wealth and make your business go to the next level. There is something that is bigger and better than a board of advisors and that is a mastermind group. Napoleon Hill, the author of Think and Grow Rich and the Laws of Success, coined this term.

A mastermind is not new; its not a revolutionary idea. Its an old, tested idea which has worked for years for businesses across the globe. Its bringing a small group of people together who want to help each other succeed accelerate their wealth creation.

A board of advisors is a group of people coming to you to help your business. A mastermind group is a group which comes together to help each other. This mastermind group is a powerful opportunity to leverage the skills and attributes of people who have abilities beyond our own.

Napoleon Hill talked about Harvey Firestone, Andrew Carnegie, and Henry Ford getting together once a year to play golf. They would be together for as much as a week helping each other perfect their own business.

Think how powerful that could be. People who might otherwise be your competitors can be in your mastermind group. Its a group of people who get together on a regular basis. When you have a mastermind group, you want to be the dumbest guy in the room, not the smartest.

You want to take the collective intelligence of people in the room to rise to a whole new level. By surrounding yourself with people who know more than you and who want something back, you get a reciprocal trade.

1. It sharpens your business and personal skills because you are bringing people into your environment who are smarter than you.

2. You get honest feedback and advice from people who dont have any skin in the game. When we ask our employees or friends things, we have to wonder if theyre being completely honest. Sometimes, people are afraid to tell us what they really think. A mastermind group isnt afraid to tell you. Theyre willing to share anything with you.

3. We also learn from their experience. Experience is the greatest teacher of all. Its the greatest way to learn. We ought to be able to leverage their experiences by learning from their mistakes.

4. It also makes us accountable. These are the people who can and will hold your feet to the fire. Sometimes, you need that as the boss or the CEO; nobody holds us accountable. In this environment, they do hold us accountable.

5. They provide critical insight. They are seasoned veterans. When they give you an opinion or advice, they know what they are talking about.

6. The last thing a mastermind group will give you is valuable support. They are business leaders in the community, who know things you dont know. How valuable would it be to have them help you? It would be so powerful. A good mastermind group will bring these people together to help you with the issues and concerns in your business.