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Henry Ford, while appearing as a trial witness, was badgered by an attorney who tried to discredit his testimony by calling his education into question. Mr. Ford was asked a few questions about American history which any high school student could easily answer, and when he did not know the answers, it placed the attorney in a most advantageous position, until Mr. Ford stated that he was successful man, responsible for a great number of people and in control of a great deal of power. He had little use for such knowledge, and if by chance he need it, he had at his disposal people who could get him the answers to those questions in minutes. Bravo!
In Henry Ford‘s retort, there is a valuable lesson for every one attempting become financially independent. That lesson is commonly known as the Mastermind Principle. In short, it means having at your disposal a body of knowledge in human form which you can consult when the need arises.
Here’s an example: A doctor tends to earn a substantial amount of money his job, and is faced with the harsh reality that he can never be as well informed about his job as he’d like to be. So to manage his affairs, he has an accountant, investment advisor, a banker and a stock broker. And to help him in his job, he consults with specialists, other general practitioners, talks to hospital staff and consults with the most brilliant men in his field whenever the need arises. These people are his mastermind group, and they provide him with the information he needs when he needs it reducing his need to spend great amounts of time hunting up this information for himself.
The importance of such a group in your life is not to be underestimated. If you intend to operate your own business, you MUST have a mastermind group if you are to learn and grow with the fewest setbacks.
The formation of your mastermind group requires nothing more than the establishment of contact either for business or social reasons with the people who have the knowledge you will need to draw upon to help yourself. The selection of the mastermind group is somewhat more difficult, for you must choose the finest people you know in every field you wish to have. Never, ever shoot too low. When you approach these people, tell them exactly what you want to accomplish, why you have contacted them, and offer them any help they might need that you are able to give in return.
You will generally discover that the old saw is true: the bigger they are, the nicer they are, and the more willing they are to help others. Chances are excellent that they had to do the same thing you’re doing in their climb to the top and are ready to return the favour. By the way if you find your first few contacts bring you no results, perhaps you had better evaluate your choice of role models and your motives for choosing those particular people.
Mail order people especially should establish mastermind groups with other mail marketers. Don’t be secretive about your techniques, facts and figures, especially in your advertising.
Wouldn’t you love to swap facts and figures in person or in personal letters with people at least as experienced as you? You can imagine the savings in investment in new programs alone, since you’ll be able to find out from others how they have done.
The worst thing you can do once you’ve established the mastermind group is not use it. You have flattered a number of people by asking for their help. Do not insult them by not taking advantage of the situation.
Make a commitment to offer the same help to others once you have made The climb to the top is said to be a lonely one, but it should never be that way. It’s easier to pull things than push them, and believe us when we tell you the climb will be a lot easier if you can get people who have already made it to the top!