Characteristics of Entrepreneurs in My Platinum Mastermind
Last week I was in Atlanta, Georgia (USA) for my first face-to-face meeting with my Platinum Mastermind Group.
For a $20,000 investment, we get a monthly coaching call and also get to meet face-to-face three times a year.
We had a total of 16 entrepreneurs gather for an intense, two-day session where we shared and brainstormed ideas.
I had an awesome time, but aside from the few, big aha moments that I experienced, what really made it special was the people.
It’s always inspiring to be surrounded with people who are entrepreneurs. People who understand the sacrifices that entrepreneurs must make.
I don’t have to explain to them why I don’t watch TV, why I’m so anal about my time, why I need challenges, or why I could never stop working.
Everyone in the group “gets” entrepreneurs like us.
It was also inspiring and encouraging to know that no matter what type of business you are in, the key characteristics to successful entrepreneurs are the same.
At the Mastermind meeting, each of us was put on the “hot seat.” We had to stand in front of the room where we were grilled for 45 minutes about our business.
We had to present our business and ideas, and we could ask for advice and help.
The rest of the group would then openly share their thoughts.
The best part was that the feedback was honest and direct. That meant that sometimes the feedback wasn’t what you wanted to hear, but that is the whole point!
We had over 16 businesses present, from owners of a kettlebell training class, to a truck painting shop, to an orthodontist who created a side business that went from zero to $3 million in less than three years! (This was in ADDITION to his original $1 million dollar orthodontist practice where he just shows up once a week!)
During the two days, I could not help but notice five characteristics common to successful entrepreneurs.
1) Relentless Self-Development and Avid Readers
This was one of my favorite parts of the event, and I discovered new books to read. I immediately purchased on my iPad these two books that were highly recommended and repeatedly mentioned: “Mastering The Rockefeller Habits” by Verne Harnish, and “American Icon” by Bryce Hoffman.
Every one of these entrepreneurs were SUPER busy between juggling the responsibilities of having businesses and family life, but they all made time to read and learn.
They are not just listening to audiobooks, reading blog posts, and watching Youtube videos either. Those are important activities, but these entrepreneurs are READERS.
They were relentless readers who read, underlined, studied, and then strategized to apply the lessons they read and learned.
2) Being Part of a Mastermind
These successful business owners are all part of at least one, paid mastermind group.
Free networking events are helpful, but we all know there is no “free lunch.” We get what we pay for.
To get your business to the next level, you have to be part of a group of people who are more successful than you. If you are interested in a Mastermind, I recommend you check out my Mastermind groups and request an official application.
I get tremendous value from my Platinum Mastermind, and it is totally worth every cent of my $20,000 USD investment.
What I’ve learned in three months would have taken me years to learn if I just tried to find the knowledge in books. That’s not to mention the networking and relationships that are developed in these sessions, too.
3) You Must Be Good at Sales
If you want to earn the big bucks, you must learn to sell.
Every one of these business owners was excellent presenting and selling themselves. Even when they weren’t intentionally selling, they had a magical way for you to like them.
That’s one of the best parts of getting started in your entrepreneurial career in MLM.
Like Robert Kiyosaki says, network marketing is a free business school where you get to learn and sharpen your sales and marketing skills.
4) All Businesses Require Marketing
One of the most interesting parts of the sessions was the marketing strategies that each owner implemented to generate a consistent flow of prospects into their business.
Whether it is online or offline, each business was always marketing.
If you are an MLM distributor and want to learn some basics on marketing, check out my blog on the Seven Marketing Questions for You to Think About.
This is another reason why MLM is such an awesome starting point for hungry entrepreneurs who are eager for multiple streams of income. MLM is a great launching pad because, to be successful, you must learn how to market and sell yourself.
Before I started my MLM business over 10 years ago, I had no clue of what marketing really was.
However, thanks to the network marketing profession and how it pushed me to get better, I went out and learned how marketing works. Today have one of the top MLM training blogs in the profession.
5) All Successful Entrepreneurs Are Givers
There is a good book called “Give and Take” by Adam Grant that emphasizes that every successful person, regardless of their industry, is a giver, i.e. someone who gives more than they take.
This special group that I hung out with proved the book right. They all believed in the Law of Abundance, that there is plenty to go around.
During each one of the hot seats, every one of the business owners freely gave advice and strategies. Some of the feedback given to other businesses was SUPER good, things I can implement immediately in my business as well.
What’s Next for You
My next Platinum Mastermind calls are in April, May, and June. Then we have our next meeting in July. I have tons to accomplish before July arrives since I’m accountable to this group. I need to show results!
The accountability and the pressure that the group gives to me is another reason why I invested $20,000 USD into a mastermind.
If you are looking for a Mastermind group to join, check out my Mastermind groups and submit an application.
Go over the five things that I just went through and ask yourself, what is your attitude toward these five characteristics?
What would it take for you to adopt all five characteristics?
If you want success, you have to do what successful people do, so start taking action today!
P.S. I’d like to share with you a Positive Force that will not only help you stay motivated but become successful in MLM.
I’d like to introduce to you my Simon Chan Insider’s Circle.
My Insider Circle was designed with one purpose in mind – To empower people of any skill level to increase their results in Network Marketing.
As a member of my Insider Circle you’ll be exposed to the most current strategies and tactics that the most successful network marketers are using.
Your monthly trial will provide you:
Insider Circle Newsletter
Delivered to your door each month with important network marketing training. (This is physically delivered and NOT emailed)
Weekly Group Coaching Call
90 Minutes, approximately 50% advanced training on various network marketing topics, 50% question / answer.
Insider Restricted Access Website
A portion of www.simonwchan.com website contains past issues of the Insider Circle Newsletter, articles, special news, recorded coaching & Q&A calls with Insider Circle Members, even advance “works in progress”. Only Insider Circle Members are given the access codes for this website.
Special Free Call-In Consulting Times
Once a month receive special call in hours where you will be able to call and consult with me on the topic of your choosing.
Access To A Private Facebook Community Filled With Other Network Marketers That You Can Network With
Opportunity to be Admitted to Mastermind Groups
All my popular Mastermind groups are now closed. But if you work hard and perform well in my Insider’s Circle, you will have an opportunity to be promoted to either the 5 Star Mastermind or Advanced Diamond Mastermind Coaching Programs