Mentors and Masterminds- Why You Need Them

Whether you are marketing your new book, or trying to break the $10 million annual sales threshold in your current business, you can take your success to new heights if you have the right advisers in place. Whether you talk about Benjamin Franklin, Andrew Carnegie, Henry Ford, or Thomas Edison, one thing they share in common is that they surrounded themselves with great advisers. What about you? Who can you turn to for sound advice about your business and marketing plans?

A mentor is someone who has been there before and is willing to show you the ropes so that you can learn to get there too. He or she invests time, energy and effort in giving you sound advice. They recognize the formal mentor relationship and are willing to shoulder the responsibility to take you under their wings.

Napoleon Hill said, "A master mind alliance is the coordination of knowledge and effort, in a spirit of harmony between two or more people, for the attainment of a definite purpose." He was absolutely right. A mastermind group provides a similar function as a mentor with some significant differences. Where a mentor relationship is usually one-on-one, a mastermind group consists of multiple people all working to help each other. Where the mentor relationship is generally one-way, the mastermind group is a group of equals all coming together for the mutual purpose of helping each member in the mastermind group.

The main benefit for establishing a mentor relationship or a mastermind relationship is to open your eyes to new opportunities and new ways of expanding your business. It's a way to tap into the experience that exists beyond your own. Used correctly, these relationship can shave off an amazing amount of time on your road to success and can save you a tremendous amount of money by pointing you in the right direction the first time.

Regardless which relationship you decide to cultivate for your business, you will have your responsibility to give back. In the mentor relationship, your mentor will tell you up front what he or she is looking for from you. In the mastermind relationship, you will need to share your experiences for success, and sometimes even failures, to help others in your group succeed by learning from you. But if you get it right, and find the right mentor or mastermind group, you will have a huge weapon in your arsenal for success.

In choosing a mentor, you need to choose one who is utterly committed to seeing you succeed. You need to find one who understands what's required of a mentor and one who makes himself/herself accessible to you. This person needs to have succeeded in an area you want to see success in. This is the person who is willing to take you under their wing give you the kind of attention, lessons, and advice that others generally don't have access to.

In choosing a mastermind group, you need to find people who have achieved success and are willing to share their secrets of success. All members must be willing to be available when other members have major questions concerning their business that they need guidance on. The mastermind group has a shared purpose, a common plan, and is backed by a commitment to harmony (but members should always speak freely ). You can discuss things like your growth objectives with your mastermind group and they will give you feedback and solid advice. You will want to establish a regular place and time for your mastermind meetings, and choose the participants based on trust, knowledge, ability, personality, and willingness to cooperate. Remember, these are people that want to see you succeed, and can directly or indirectly contribute to your success.

Thanks to Dwayne Gandy founder of Power Train for his info on mastermind groups. He is definitely one I speak to often to bounce business decisions off of. In fact, there are quite a few people--many who are reading this now--who I know that I could go to if I had a question regarding my business. I know first hand how powerful having the right masterminds and mentors can be. If you don't have yours established now, you are missing out on much of your potential success.

Tony Eldridge