I made a promise to myself this year to work really hard at getting better as an investor and person. Last year we spent a lot of time, energy and resources going to real estate expos where “investors” go to learn. What did we learn from that experience? Most people don’t take action and you begin to see the same people at these expos. I decided that wasn’t helping us grow and we needed to make some other investments in ourselves as those typically pay off the best anyway given that we are massive action takers.
So, I decided it would be good to invest in a mastermind group. I sought out a couple of different options in terms of different investment strategies and found the most diverse to be Investor Fuel. I just went to my first meeting with the group and I was blown away. Being an entrepreneur / business owner can often be a lonely way of life. You can feel like you’re isolated on an island and no one understands. Most of my family and friends are not entrepreneurs so it’s good to surround yourself with a family of other people that understand. They’ve been through the hard times, they’ve discovered systems that help grow their business and most importantly, they can give you honest feedback about your business that you may not even recognize because you’re too close.
Spending 4 days in Salt Lake City in February is not what I’d call a great idea. It was freezing cold, but I’m so glad I went because I brought back actionable strategies that we can use in our business. I forged new relationships with investors that will likely become partners. Most importantly, I felt like the dumbest guy in the room and I consider that to be a great success. Anytime I can get around people that are way smarter than me, I get really excited because it means I’m going to be presented with ideas and opportunities I wasn’t able to come up with myself. That is the stuff that gives me the juice.
The question then becomes, how do I know what kind of mastermind is right for my business? I think you need to look for a group of givers. People that aren’t just there to take your best ideas but are there to genuinely help you without expecting anything in return. People that practice the law of reciprocation. Beware of groups that are there to pitch you something. The group should never be about selling you more education or programs. That’s not a mastermind at all. Gauge the temperature of the success of the group. Talk to other members before you go to see what value they get from the group.
Commit this year to start spending time with people that help you go next level. Commit to getting around people that keep you humble and pushing you to want to do more. That’s where growth happens. If you have an interest in a mastermind group like Investor Fuel, send me a message and I can further share my experiences with you.