Wealth Tip of the Day for Monday, October 23, 2006

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Hi this is Diane Kennedy. Today is Day 22 of the 30-day Coundown to the release of my new book, The Maui Millionaires™ that I co-wrote the book with David Finkel. The book is scheduled to be released on November 3, 2006, and from now until then I’ll be checking in every day with a Wealth Tip excerpt from the book, written either by myself or by my co-author, David Finkel.

Wealth Tip 22: Follow the Five Laws for Forming your Mastermind Group

The Five Laws for Forming Your Mastermind

  1. BE SELECTIVE — Character is contagious. Be careful whose character you catch!
  2. EACH MEMBER BENEFITS — No-one will give their full-hearted cooperation over time without getting some tangible benefit in return. Make sure you work to benefit each member of your mastermind group on a consistent basis.
  3. MAINTAIN HARMONY — This is a tall order. A mastermind group with tension or conflict is degraded to a simple committee… The single most important rule to maintaining harmony in the group is that while you can question ideas and input, never question INTENT. If you do, you will destroy the relationship.
  4. COMPELLING AND DEFINITE CHIEF AIM — Collectively create a compelling outcome for the group towards which all of you are fully in agreement on. This direction will focus your collective power and allow you to harness it to awesome effect.
  5. MAINTAIN CONFIDENTIALITY — People will be much more open and cooperative if they feel they can let their guard down and authentically and safely share.

Tomorrow I’ll share with you a simple format to actually run your mastermind meetings.

For more strategies and techniques to get the most out of your mastermind team, including a powerful technique to use your mastermind team to generate breakthrough wealth ideas see The Maui Millionaires™, pp.125-164.

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