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Why Financial Advisors Should Participate in Mastermind Group Meetings

Posted by Mark Triplett on Tue, Jan 31, 2017 @ 05:13 PM

Humans need a tribe. We are social animals, and most of us need to feel a part of something larger than us to feel OK. We need to know someone has our back. In return we’ll have theirs. As a unit we’ll be secure and succeed. We’ll overcome challenges and achieve great things. 

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Surround Yourself with Achievers

The late Jim Rohn used to say that “You are the average of the 5 people you spend the most time with.” Think about the people you associate with on a regular basis. Are they challenging you to new heights? Are they achievers with a burning desire and a plan? If not, why not? You choose who you associate with don’t you?

Make sure your tribe is made up of achievers. Fill it with people who will challenge you to level up. In return, challenge them to be better tomorrow than they are today. If you are not pushing each other toward greatness, it may be time to introduce new members into the tribe. If you tribe has members who no longer fit, it may be time to disassociate with them as well.

3 Types of Associations

One of my mentors, Darren Hardy, explains that there are 3 kinds of associations.

  1. Expanded associations
  2. Limited associations
  3. Disassociations

Expanded Associations

Expanded associations are with people who are going to drive you in the direction you want to go. They will challenge you to become more and achieve more. They are achievers whom you can learn from, and you are elevated by associating with them.

Limited Associations

These are the people you can enjoy being around. However, they won’t be a catalyst for great change. You may have a pleasant conversation with them but it’s not going to lead to becoming a higher achieving person. They are probably fun to hang out with, and its best to know your limits. The time you spend with them should be limited based on the relationship. For example, maybe you have friends who you can get together with for 3 hours and have a great time, but your not going to go on a 3 day trip with them. That would be too much. They might be your 3-hour friends.

Maybe you have an acquaintance in town who you can spend a few minutes with. You see them at them grocery store, and exchange a few words. They might be a 5-minute association. You can have a friendly conversation for 5 minutes, but they are not really someone you spend a lot of time with.

Disassociations

These are the people in your life who you should totally cut out. For you, and what you want to become, they are bad news. Heck, they may have been an expanded association or a limited association at one time. However, you know that associating with them is bad for you, and negatively affects your desire to achieve. It might be time to cut ties. This can be difficult, but often necessary.

Reach Greater Success Together

I consider myself fortunate. I’m part of a group called Adventure Club. It’s a mastermind group of independent financial professionals driven to succeed. These are my friends. I’ve known many of them for over a decade. I want to see them achieve greatness, and they want the same for me.

We elevate each others game every time we get together. There’s a competitive nature to the group. We all want to beat everyone else to the top. However, we’re all willing, at a moments notice, to reach down and pull another member up. We’re all independent, yet we depend on each other to hold one another accountable.  We’re better together, even though we’re the captains of our own ships.

From across the country, we escape the confines of our offices and travel, amazing-race style, to a destination location. We’re there for business, and of course adventure. We spend hours focused on improving our businesses, sharing ideas and trade secrets that would never be spoken out loud at a big conference among strangers. When the work is done, we play. We don’t golf, or lay by the pool. We seek adrenaline. We all seek to ride the edge between control and chaos. If it doesn’t scare us a little bit, its not a fit for Adventure Club!

I’m usually tasked with finding the location and the adventures. The members will ask, “Where are we going, and what are we doing?” My reply, “Somewhere awesome, and something dangerous.” After all, it’s not Adventure Club if someone can’t fall. If you’re not falling, you’re not trying!


Attending mastermind meetings is a great start, but you can achieve even more success when you have a coach. Click here to learn how an accountability coach can improve your business.


 

Tags: sales management, improved revenue, consistent advisor, business management

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