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mastermind group
brick and mortar
based business owners
important decisions
local university
time commitment
Home Based Business Owner Mastermind Teams
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Have you heard the word "mastermind" group or team lately? Sometimes the word gets bounced around with both positive and sometimes negative responses. Truth is.... it can prove to be your greatest business asset or a waste of your valuable time. Not much in between to consider for the busy entrepreneur.

Home based business owners as well as brick and mortar retail business owners can benefit from a well thought out mastermind team. Doing your "own" thing is great but input from other business executives can be extremely valuable when making important decisions about the future of your business.

Unfortunately, my gut feeling says there are very few Mastermind groups. I'm not sure of the reason but there is a time commitment from everyone who is willing to participate on your team. You might agree to meet weekly with your team or every two weeks as necessary. You decide if this makes sense for your business.

Your investment of time and energy can payoff big for your entire team. Careful selection of your team members is critical to your success. Internal executives should be involved in most or all of your meetings with the firm's mastermind team. Don't leave your executives on the outside when they are important to your growth and future success in the marketplace.

Research what others are doing with their mastermind team. How do you begin the process? Is there a particular background or expertise required? Maybe 5 or 6 is a good number to consider inviting from the business community as potential mastermind team members.

Another option to consider is the local university, to inquire if they have a formal system to be involved with the local business community. At the University of NC Charlotte there is the Ben Craig Center [BCC] which provides lots of expertise through their connection with the university. After writing this it prompted our inquiry with the University and the BCC to tell us about their current involvement with the local business community.

How do they evaluate their successes? Their failures? Whom at the university oversees the incubator system at the BCC. Are university students or graduate students involved?

If you have deep pockets then you can hire the necessary legal counsel and accounting expertise but every new business does not start off with excess cash. There are services and valuable guidance available through the Small Business Administration for both financial and advisory guidance. Usually, a large number of the SBA counselors are retired business executives in a group known as SCORE. Worth checking out!

As you know, our focus remains on the home based business owner. Our goal is to encourage everyone to build a Plan B for financial security. It takes little money to learn the insiders track to Internet Marketing and training from the experts. Remember, YOU are your own security, not your boss or employer. Join us in our effort to put America and the World workforce back on the right track for success.

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