Don't go it alone in life or in your business

This Blog is geared to helping you run your small business. We post informative articles, links and share ideas and tips on how you can succeed. Being in business can be somewhat challenging at times and we are here to help you meet those challenges head on!

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Who is on your team?

This month, I have become present to the importance of having a team to support you in your business venture...in fact, having a team around you in whatever you are taking on that's big is almost mandatory. If you're having a baby, you have a doctor, a gynecologist, your friends and teacher from the prenatal class and so on. If you're taking it on to take off weight you've got support from a nutritionist, a doctor, a personal trainer and or the team at weight watchers as well.

Having a team is vital to your success. In biblical times, Moses had Aaron, Jesus had the disciples...Noah had a bunch of animals, but we won't go there this time...

The lesson in this newsletter is the importance of having a supporting cast around you to help you run and grow your business.

There are 4 key types of support in the business world.

The first is a mentor. A mentor relationship is with someone that's in your field, is successful in the field and is open to counseling you or guiding you once a month about your business and the direction you're taking it. One way to access a mentor is to talk to the trade association that's connected to the industry or field you're in. In almost every industry there is a trade association and what you want to do is ask the director of the trade association who the top 5 most successful business owners are in your industry. Once you've got that information and those contacts you then want to call each owner and see if they would be open to mentoring you.

Usually, when people are successful, they are all too happy to share their advice. Why? Because it's something to be proud of and it's an honour to share it!

A good mentor relationship is one that's done over the phone once a month. You have to be respectful of the other person's time. It's not out of the realm of possibility to send a thank you card and a gift certificate to your mentor as well...once in a while. Showing appreciation is always a good thing.


The second type of support you can have is a mastermind group. Your mastermind group can be made up of professionals in your industry or it can consist of a variety of business people from different industries.

The idea of a mastermind team was developed by the "grandfather" of the personal development movement, Napolean Hill. He felt the power of 5 or 6 minds were better than 1. One of the first mastermind groups included Ford, Firestone and Edison...quite the mastermind team to say the least.

When choosing your team you have to be with people you trust, who have the same goals and who can help you get to where you want to go. A typical mastermind meet up is about 2-3 hours a long and it's a chance for you to brainstorm, test, work through challenges and then get the advice and insight from 4-5 other people in your group.

I personally don't like a group that's more than 6 people or the meeting can take all day.

You can make your meeting fun, by having a nice breakfast, lunch, or maybe have a book review, share online resources, best practices. In my mastermind group we did experiential dance, that allowed us to get into our bodies...once we did dancing, we then created a vision board...my vision board had pictures and words cut out from magazines that resonated with me. I then glued each picture and word onto a bristol board.

My vision board reminds me of what I want to achieve for my life and business.

A mastermind group has to have respect, trust, cohesion and good communication. I recommend you meet once a month to keep the flow going.

Your mastermind group isn't about you getting psychological help, it's about getting support, ideas, action steps that you can take for your business venture. Yes, some emotional issues may come up...but remember you are with business people not a psychotherapist or psychologist. Keep the meetings more about the task at hand rather than making them more personal.

A mastermind team can be a great support mechanism for you to put into action in your business venture and the ideas and the encouragement you get is invaluable. Heck you might even get to dance like I did in a couple of my meetings and anyone who knows me...can tell...I am no "twinkle toes" but I did have fun and let loose for a while.

Sometimes you need to let loose and play even if it's during a work day.

Another support system to put into place is an advisory board. An associate coach of mine, Tanya Geisler teaches her clients about the power of an advisory board. Tanya leads entrepreneurs to have access to their very own advisory board. The difference between a mastermind team and an advisory board is that the advisory board focuses solely on you. Whereas a mastermind team is a shared focus. Log onto Tanya's site and check out the work she does helping small business owners start their own advisory boards... http://tanyageisler.com/board-of-your-life/

Another advisory board is an experience I had this past week. On Thursday, I met with 4 senior business executives this week and they helped direct me and give me ideas, advice and feedback on my business. I went in totally cold, not knowing what to expect. I did go in with some key areas I wanted to discuss and I got 90 minutes of ideas, counseling and advice to put into action immediately. I also became clear about the most immediate next steps to take and engage in.

I met with this very unique organization called A-S-E. (The Association of Senior Executives) and for $90 you get to consult with 4 very astute professionals about your business. I had a 90 minute meeting with them and walked away with some ideas that had never occurred to me before...check them our at www.a-s-e.ca

These seniors have made their living and it gives them a chance to be vital, give back and make a difference, plus the advice I got was really very amazing.

Finally as far as advisory board goes...to quote my friend Tanya...when she helps to lead and facilitate an advisory board...here is what's possible...

"Imagine a brainstorming session dedicated to your unique values, your particular brilliance. Involving people who know you well and will applaud your success. An Advisory Board from your very own life that comes together for one single purpose: to help you land somewhere new—lovingly and safely.

Board of Your Life is not for the squeamish—it’s for people who are ready to take the reins of their life and become “unstuck”. Are you ready"?

An advisory board helps you discover pieces to your puzzle.






Our last support system is a board of directors. How many of you know what that is? Better yet, how many of you have one? I have a feeling that not a lot of business people have one of these. You are in charge of putting together a board of directors...even if your company isn't on the stock exchange, it's vital that you share the state of the nation as it were about your business venture.

A typical board of directors consists of your lawyer, banker, accountant and another business colleague. A typical board of directors meeting has you take these 4 professionals for dinner twice a year to share what's going on in your business.

Since you've got 4 very differing people at the table with you, you will get very interesting feedback. One from a financial perspective, one from a management perspective, one from a legal perspective and one from a banking money management perspective. All with contacts and experience that is crucial to your success.

Make sure when you meet twice a year with your board of directors, that you take them out for dinner...

Success...isn't that what having support is all about? Isn't that what we all want for ourselves?

We want to feel we've made a difference, that we're free from worry and financial stress, that we are living our best possible lives.

There are more support systems for you to access...in Toronto you can connect to www.enterprisetoronto.com

In Durham region it's the Business Advisory Centre at www.bacd.ca

In Peel it's the Small Business Service Centre Brampton and there is one in Mississauga too...just google these and you will get access to some terrific "free" help for your venture.

Richmond Hill and Vaughan has small business service centres too that can help you grow your business as well, in fact in Vaughan log onto http://www.centrebusiness.com

So as we head into spring and a new business quarter, get the help you need in your business. Don't go it alone, because quite frankly you're playing with matches if you do.

We all need the help and ideas and encouragement to move forward.

If you're wanting that for your business I will be launching the "E-Circle" and beginning guided and facilitated master mind groups in May. My colleague Danielle Di Prizio and I will be leading these sessions in May, s o if you're interested email me at thecoach@smallbusinessbigideas.com

Until next time, take good care, go in peace and strive for balance.

Cheers/David Cohen

Here is a video to remind you about the journey to your own personal success...Enjoy!

David