Sunday, December 14, 2008

Business Owner: Are You Terrified of the Sharks You Cant See Coming

If you are a the owner of a small business its not hard to imagine yourself all alone in a tiny boat, rowing steadily across a calm lake.Everything seems fine - and yet you keep looking over your shoulder, when you know you should be focusing on the future, wondering if there is something you havent thought of.

Things seem to be going smoothly - but theres a dark shadow in the water behind you that you cant quite make out.What is it Why do you feel so uneasy Are there assumptions about the business you havent tested thoroughly

Suddenly you hear the sound of a helicopter overhead - you look up - and in its doorway - you see a familiar face.

Its someone you know whose opinions you trust - waving down from their birds-eye-view - yelling "there are sharks in the water" and lowering a bucket of shark repellent.

In fact every time you look up you see another trusted advocate - someone with a valuable perspective as well as your best interests at heart.From that moment on your decisions regarding the directions you take and the preparations you make - are made with confidence

Typically entrepreneurs and owners of small businesses are forced to make critical decisions alone.

They often feel that they dont have anyone to talk to about their business.There may not be anyone around who knows what needs to be known in order to make the right decisions.And in some cases the things the business owner knows for sure - but has never verified, are simply wrong.Decisions made without testing the underlying assumptions often result in the destruction of the entire business.

When business owners and entrepreneurs join mastermind peer groups they find a very powerful and easy to manage process that creates an atmosphere of support and success that is impossible to duplicate.These types of mastermind peer groups have been around for almost a Century and, because of virtually free long distance calls and the Internet, they are a growing business phenomenon being used business businesses of all sizes for problem solving, inspiration, and motivation.

Instead of making decisions alone, with a mastermind group of 3-7 individuals who come together on a regular basis - decisions are made with much more accuracy.For small business owners who are members of the same industry and the same trade association - the mastermind peer group made up of members spread all over this country is an excellent resources for decision making with confidence.

It is a well known fact that the vast majority of all new businesses fail during the first few years.When the economy is in turmoil the rate of failure goes up even more.And even those who survive the critical two years face dramatic challenges when they attempt to move beyond the sole proprietor survival mode to that of a company with employees and all sorts of other business-as-usual tasks required for them to be taken seriously by their competitors, their bankers, and their vendors.

Mastermind peer groups are made up of people bonded together to work on a common objective, giving each member confidence - safety in numbers of years of experience.These mastermind peer groups are a great way to leverage the intellectual capital and personal networks and procedures the other members have spent years developing.They are a great source of encouragement during hard times too, when the groups are formed by business people dedicated to supporting each other in all kinds of weather.

Successful businesses have a "long view" as well as immediate tasks to face and fires to extinguish.Successful business people understand that having a team of advocates - comprised of individuals with no axe to grind and no hidden agenda, to develop ideas and move forward with quickly, is key to their success.In addition to the networking effect, a peer-to-peer mastermind group helps them constantly educate themselves, expose themselves to new ideas, and implement what they learn.When they learn from others who have demonstrated long term success in the same industry, the value of the lessons is directly relevant to them.

There is no doubt that being a part of a successful mastermind group can be an invaluable and enriching experience, both personally and professionally.There is also no doubt that business mastermind peer groups are also the best way to network with others, create synergy and collaboration of between business owners in an open, supportive environment.Simply put, a peer to peer mastermind group is based on the concept that two heads are better than one, and five to 10 heads yield exponentially more significant results for everyone involved.

Look Out There really are sharks in the water and the best shark repellant will be provided by the members of your peer to peer mastermind group.
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