Teaming Up To Make Business Dreams Come True

One of the great idioms of our time claims, “Great minds think alike.” Entrepreneurship expert Evan Carmichael would beg to differ.

Carmichael runs the Toronto Entrepreneur Mastermind Groups, sets of small business owners who meet on a regular basis to collaborate, brainstorm and provide support for each other’s goals. They are part of the growing number of entrepreneurs who are beginning to realize that there is strength in numbers.

“Not all great minds think alike,” says Carmichael. “Our entrepreneurs come from all different walks of life, each with their own unique experiences, and are able to share with each other what they have learned along the way.”

While the concept of Mastermind Groups has recently been enjoying a rise in popularity, it is nevertheless nothing new. Napoleon Hill first described the idea in his 1937 book, “Think and Grow Rich.” Self-made steel billionaire Andrew Carnegie had commissioned Hill to interview the most successful people of their time and discover what were their secrets of success. The one thing they all had in common? Mastermind Groups.

“Mastermind Groups are like having your own personal board of directors,” says Carmichael. “Not only do they help you work out your business model, but they make you accountable for your goals. It’s harder to make excuses for your business when you have to go back and answer to your group of fellow entrepreneurs.”

Masterminding is not just for those business owners who are lost or who lack motivation. Everyone from Henry Ford to today’s multi-million dollar entrepreneurs, including 1-800-Got-Junk owner Brian Scudamore, attribute much of their success to their peer networks.

“Hill used to say that in joining two minds, you would create a third,” says Carmichael. “That is the principle behind Mastermind Groups. You get feedback, support, and motivation from a group of peers who are rooting for both you and your business to succeed.”

The Toronto Entrepreneur Mastermind Groups meet once a month, with scheduled check ups in between. Each meeting consists of a short presentation by a member or a guest speaker on an important lesson learned, followed by discussions among the members of their own challenges in the past month. Feedback is exchanged, encouragement is given and goals are set for the next month. Members also receive exclusive advice and reports from other successful entrepreneurs.

Membership in a Mastermind Group is, however not for everyone, Carmichael warns. “We screen our applicants to make sure they are serious about building their business,” he says. “Members should be committed both to their own goals and to helping the other members of their group achieve theirs.” To this end, members are always from non-competing industries.

“With Mastermind Groups, entrepreneurs get an instant and valuable support network for their business,” says Carmichael. “You learn that you are not alone and that we all face challenges along the way. But, with the joint commitment and shared passion that are found in these groups, you can find solutions to those challenges and make real progress towards achieving your goals.”


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Evan Carmichael is available for an interview. Please contact him at evan@evancarmichael.com.

Evan is an entrepreneur and international speaker. At the age of 19, he became an owner and Chief Operating Officer in Redasoft, a biotechnology software company. The company quickly grew to over 300 organizations as clients, including NASA and Johnson & Johnson, in 30 countries. He started Evan Carmichael & Associates with the goal to give entrepreneurs the Inspiration to follow their passion and the strategies they need to succeed. Evan has delivered over 100 keynote presentations to entrepreneurs in North America, Europe, and Asia. He has been interviewed by newspapers, radio stations, and television stations including The Globe and Mail, CHUM FM, CityTV, Global TV, OMNI TV, Enterprise, and the Toronto Sun. Evan's website, <a href=“http://www.evancarmichael.com”>http://www.evancarmichael.com/ </a>is the world's #1 website for small business motivation and strategies.