I had a great call with an entrepreneur this morning who is having some trouble with his business and being motivated enough to fix it.
I had him focus on business fundamentals — do the math. If the math works and you’ve got the energy then stick with it. However, if the math doesn’t work then cut your losses.
The thing is he told me his mastermind is great. Why didn’t this group of people who knew him and his business well tell him to do the most fundamental aspects of business decision-making?
Because most masterminds suck.
Another example was with a guy who sat next to me at dinner one night at Microconf in Las Vegas. He, too, told me his mastermind was great and named off some really smart dudes who were in it.
I asked him three questions:
1. What is the purpose of the mastermind?
He said that it was to grow his business and be held accountable. He insinuated that massive growth was to happen and he’d been in the group for a couple of years.
Can you guess what my next two questions were?
2. How much did your business grow?
His response was “5%.” That means he most likely didn’t even keep up with inflation let alone achieve any massive growth.
3. Are you doing the things that you tell your mastermind you’re going to do?
He said that he typically didn’t accomplish any of the bigger things he said he would.
So I told him is mastermind sucked.
Well, I was slightly nicer than that.
The two things he said were the purpose of the group were not happening.
This is very common in nearly all masterminds. They lack the backbone to tell people to put up or shut up. Sure, you might get camaraderie and insights that keep you in your status quo, but if those aren’t the purpose of your mastermind then you need to shake shit up.
Read my article on how to run a real mastermind or better yet email me at tim at tim411.com about how to join mine.
This post was originally published in The Forge Facebook group.