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. Carmichael’s goal is to give entrepreneurs the inspiration to follow their passion and the strategies they need to succeed. According to Carmichael, most of the work is done from home, and the people they’ve hired out also end up working from home, although they do rent out space to hold meetings with clients.
“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.”
“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.”
The Toronto Entrepreneur Mastermind Groups meet once a month, with scheduled checkups 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.
“We screen our applicants to make sure they are serious about building their business,” Carmichael says. “Members should be committed both to their own goals and to helping the other members of their group achieve theirs.”
“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.” For more information, visit http://www.evancarmichael.com/ or email . HBM
Previously published in the August 2007 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($15.00 for 1 year, six issues). Visit www.homebusinessmag.com
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