Entrepreneurs who failed to lead a mastermind were making “at least” a six-figure mistake, a millionaire businessman warned yesterday.
Canadian based best-selling author and creator of Mastermind to Millions, Jay Fiset, said the small-group collaboration model could even benefit business owners in the startup phase.
Speaking exclusively to MindShift.Money, Mr. Fiset, who this week leads his signature training in Phoenix, Arizona, said masterminds gave businesses leverage.
“If you do not have a mastermind as part of the model by which you share your intellectual property, training, expertise and community—it’s at least a six-figure mistake,” he said.
“I’m also a fervent believe that the most powerful position is to actually bookend it, because I think all of us should be in a mastermind that sharpens our leading, learning and edge and all of us should lead one.
“And if you do both those things, both of those pieces I think it actually makes a million dollar difference in most people’s lives.”
Mr. Fiset said entrepreneurs wanting to start a mastermind could either leverage their own expertise and talents or collaborate with others to create a powerful sphere of influence.
He said influence—which could be gained through community, engagement and reciprocity—often trumped results, experience and expertise.
“You can launch a fantastic mastermind borrowing people’s expertise and influence as anchor members,” the father-of-two said.
“If I was to do a mastermind that related to money for instance, I don’t need to be a money expert, I can bring in (MindShift.Money founder) Dr. Tony Pennells.