Monday, April 25, 2011

How to Accelerate Your Success with a Mastermind Group
Written by Jack Canfield

We all know that two heads are better than one when it comes to solving a problem or creating a result. So imagine having a permanent group of five or six people who meet every week for the purpose of problem solving, brainstorming, networking, and encouraging and motivating each other!

This process is called masterminding and is one of the most effective success tools you can adopt! It is a powerful way to support your dreams and bring unlimited resources to your business and personal life.

Participating in a mastermind group has been critical to me. I can’t imagine achieving all I have without one, and it certainly made my goals happen much faster.

A Process for Accelerating Your Growth

The basic philosophy of a mastermind group is that more can be achieved in less time when people work together. Sometimes called a “dream team”, your mastermind group is made up of two or more individuals who voluntarily come together on a regular basis – weekly, biweekly, or monthly – to share ideas, thoughts, information, feedback and resources.

Your group can be composed of people from your own industry or profession or people from all walks of life. You can focus on business, increasing each other’s income, building a business, raising better kids, or solving a social problem.

Within your mastermind group, you benefit from the other members who empower you and draw out your full talents, resources and abilities. They trigger, stimulate, and motivate you to become all you are capable of being.

Creating Your Dream Team

The key is to choose people who are already where you’d like to be in your life – or who are at least a level above you. In forming your mastermind group, start by carefully enrolling another friendly, on-purpose, like-minded individual. Start by meeting together and then adding other selected, unanimously agreed-upon individuals who will work in total harmony for the good of each other and for the good of the group.

1. Your Dream Team should consist of 4-8 people. Most people find that 6 is the ideal number.

2. Meet weekly, if possible, for an hour to an hour and a half. This meeting must be held sacred as a life-enhancing priority. The meetings should be upbeat, enriching, encouraging and beneficial to each individual and the group’s purposes. I always start our meetings with a prayer or an invocation. You could also start with an inspiring story.

3. Each member must agree to play all out — to openly share ideas, support, contacts, information, feedback, and anything else that will help advance the individual and group goals.

4. Start by having each member share something positive and good that happened since the last meeting.

5. Next, have each member share an opportunity or problem they have experienced since the last meeting and ask for whatever support they would like on it. Appoint a time-keeper to make sure that everyone gets the same amount of time. This is important if you want your group to last. Everyone must get value at each meeting.

6. End by sharing appreciations and acknowledgements.

You’ll find one of the real values of a mastermind group is the accountability factor – other members checking up on you to make sure you meet your stated commitments. It’s one way to ensure you’ll accomplish a lot more!

For more details about masterminding, read Success Principle #46 in The Success Principles book or utilize the mastermind worksheets found in The Success Principles 30-Day Audio Course.

Jack Canfield, America's #1 Success Coach, is founder of the billion-dollar book brand Chicken Soup for the Soul©Inspirational Books)© and a leading authority on Peak Performance and Life Success. If you're ready to jump-start your life, make more money, and have more fun and joy in all that you do, get FREE success tips from Jack Canfield now at: www.FreeSuccessStrategies.com/.

Monday, April 18, 2011

Profits Are Better Than Wages
Written by Jim Rohn

My mentor, when I was 25 years old, dropped a phrase on me that changed my life forever when he said, “Profits are better than wages. Wages will make you a living. Profits can make you a fortune.”

You know it is a bit difficult to get rich on wages, but anybody can get rich on profits. Profits change your whole attitude, even if you start part time—whether it’s part time on your entrepreneurial business, network marketing company or service business.

It can be a landscape business in the summer or hanging Christmas lights in the winter. It can be training, consulting or tutoring. It can be your hobby, such as painting, writing, crafts, woodworking, computers or cooking. But once you start investing even part-time effort into your own business, you will find how much more exciting it is to get up in the morning and go to work on your fortune, even if you’re only spending a few hours a week doing it.

How empowering it is to be able to go to work on your fortune every day rather than going to work to pay the rent. Now it is noble to go to work to pay the rent, but if you could also parcel out part of your time, go to work to make your fortune. Your whole attitude changes. Your spirit changes. It is in your voice. It is in your face. It is in your gestures. And then you can say, “I am now working full time on my job and part time on my fortune because I found a way to make profits.” Wow!

And I will know what you mean.

Jim Rohn, America's Foremost Business Philosopher, reprinted with permission from Jim Rohn International © 2011. As a world-renowned author and success expert, Jim Rohn touched millions of lives during his 46-year career as a motivational speaker and messenger of positive life change. For more information on Jim and his popular personal achievement resources or to subscribe to the weekly Jim Rohn Newsletter, visit www.JimRohn.com.

Tuesday, April 12, 2011

A Novel Idea: Help a Child Start a Business

A few weeks ago I participated in a financial workshop where I shared some ideas and my own personal experience on how adults can help their children start a business.

In the video below, I demonstrate how, with out too much work up front, and with the powerful compounding effect of time, your child can turn a pretty insignificant amount of money into a fortune over time. But what’s important isn’t necessarily the money your child will make; what is important is the individual your child will become during the process of making the money. Watch the video for more details.

I hope you enjoy and please leave me your comments below!



If you cannot view the video please click on this link

I'm so excited to share this information with you. If you have enjoyed the information or feel that it would benefit someone else, please share it. If you have any questions or comments, please feel free to contact me.

Thursday, April 7, 2011

Use Feedback to Your Advantage
Written by Jack Canfield

As you begin to take actions toward your goals, your dreams, you’ll soon realize that not every action will be perfect.

Not every action will produce the desired result.

Not every action will work.

Making mistakes, getting it almost right, and experimenting to see what happens are all part of the process of eventually getting it right.

Thomas Edison is reported to have tried over 2,000 different experiments that failed before he finally got the light bulb to work. He once told a reporter that, from his perspective, he had never failed at all. Inventing the light bulb was just a 2,000-step process. If you can adopt that attitude, then you can be free to take an action, notice what result you get, and then adjust your next actions based on the feedback you have received.

There Are Two Kinds of Feedback

There are two kinds of feedback you might encounter – negative and positive. We tend to prefer the positive – that is, results, money, praise, promotion, raise, awards, happiness, inner-peace, etc. It feels better. It tells us we are on course and doing the right thing.

We tend not to like negative feedback – lack of results, little or no money, criticism, poor evaluations, complaints, unhappiness, inner conflict, pain, etc.

However, there is as much useful data in negative feedback as there is in positive feedback. It tells us that we are off course, headed in the wrong direction, doing the wrong thing. This is priceless information!

In fact, it’s so valuable that one of the most useful projects you could undertake is to change how you respond to negative feedback. I like to refer to negative feedback as information for “improvement opportunities.”

Ways of Responding to Feedback that Don’t Work

Though there are many ways you can respond to feedback, some responses simply don’t work.
  • Caving in and quitting: How many times have you or someone you know received negative feedback and simply caved in over it? All that this does is keep you stuck in the same place. It’s easier not to cave in if you remember that feedback is simply information. Think of it as “correctional guidance” instead of criticism.
  • Getting mad at the source of the feedback: Think about it… How many times have you reacted with anger and hostility toward someone who was giving you feedback and it was genuinely useful? It may temporarily make you feel better to get angry, but it doesn’t help you become more successful in your quest.
  • Ignoring the feedback: We all know that people who turn down everyone’s point of view but their own. The sad thing is, feedback could significantly transform their lives, if only they would listen.
Ask for Feedback

Most people will not voluntarily give you feedback. They are as uncomfortable with possible confrontation as you are. So to get honest and open feedback, you need to ask for it and make it safe for the person to give it to you. In other words, don’t shoot the messenger!

The Most Valuable Question You May Ever Learn

In the 1980s, a multimillionaire businessman taught me a question that radically changed the quality of my life. This magical question can improve the quality of every relationship you are in, every product you produce, every service you deliver, every meeting you conduct, every class you teach and every transaction you enter into. Here it is:

“On a scale of 1 to 10, how would you rate the quality of our relationship (service/product) during the last week (month/semester/quarter)?”

Here are a number of variations on the same question that have served me well over the years...

“On a scale of 1 to 10, how would you rate the meeting we just had? ... me as a manager? ... me as a parent? ...this class? ...this meal? ...my cooking? ...our sex life? ...this deal? ...this book?"

Any answer less than a 10 always gets this follow-up question:

“What would it take to make it a 10?”

This is where the really valuable information comes from. Knowing that a person is dissatisfied is not enough. Knowing in detail what will satisfy them gives you the information you need to do whatever it takes to create a winning product, service, relationship or result.

Is All Feedback Accurate?

Not all feedback is useful or accurate. You must consider the source. Some feedback is polluted by the psychological distortions of the person giving you the feedback. For example, if your drunk husband tells you, “You are a no-good bleep,” that is probably not accurate or useful feedback. However, the fact that your husband is drunk and angry, is feedback you should listen to.

Remember, feedback is simply information. You don’t have to take it personally. Just welcome it and use it. The most intelligent response is to say “Thank you for your feedback. Thank you for caring enough to tell me what you see and how you feel. I appreciate it.”

Look for patterns in the feedback you get, too. As my friend Jack Rosenblum likes to say: “If one person tells you you’re a horse, they’re crazy. If three people tell you you’re a horse, there’s a conspiracy a foot. If ten people tell you you’re a horse, it’s time to buy a saddle!”

For more on Using Feedback to Your Advantage, review Principle #19 in The Success Principles. It’s one of the core principles you can apply to your life.

Jack Canfield, America's #1 Success Coach, is founder of the billion-dollar book brand Chicken Soup for the Soul©Inspirational Books)© and a leading authority on Peak Performance and Life Success. If you're ready to jump-start your life, make more money, and have more fun and joy in all that you do, get FREE success tips from Jack Canfield now at: www.FreeSuccessStrategies.com/.