In this episode, Mak talks about the term “Masterminding. He goes deep into the aspects of Masterminding and how it affects our business and personal lives.
Origin of the term “Masterminding.”
[0:18]
Masterminding is a very popular concept. The term was coined by one of the greatest thinkers, and his name is Napoleon Hill. He has written numerous books and very noteworthy books.
[0:50]
This term gets used more or less in the business lingo or the organizational context of entrepreneurship. At its core, the concept is really all about two or more people coming together for a common purpose to achieve something that’s the greater good. The idea is that when two or more people come together, whatever you achieve is something that’s more than the sum total of what those individuals can achieve in their own respective way.
Masterminding in our Life
[1:47]
There are at least maybe two or three distinct phases in our life. When we take a look at our childhood, our parents came together and formed some kind of alliance to raise us as their kids. No success is possible unless and until the husband and wife are working together to raise their kids.
Alliances in Masterminding
[5:07]
The masterminding incorporation really had to do with being able to form alliances with the different groups across functional groups and forming stakeholders, and making sure that there is a communication strategy. There’s a program management strategy, there is a logistics strategy, and there is a risk management strategy. This is all form of masterminding to make sure that we’re keeping all these people.
Giving back to the community
[5:54]
Mak is part of many nonprofit groups. He has been fortunate enough to co-found a nonprofit to give back to needy charities and needy communities. A handful of them came together with the common goal of giving back to the community. Today, they are in the fifth year, and we’re able to raise more than $50,000. All that money is going back to support tribal kids’ education.
[6:36]
Another concept of masterminding where Mak and his team together to give back to the needy communities is entrepreneurship. He’s distinctly noticing that he’s wearing three different hats as a part of the masterminding thing, one is Master, the second one is student, and the third one is peer to peer.
The Master
[7:04]
“Master” is really all about Mak becoming a guide and the navigator to business owners. Wherever they might be struggling with their website strategy, their social media, their digital marketing strategy, or in the form of creating their branding, driving leads, generating leads driving traction, he has become the Master.
The Student
[7:37]
In some cases, he has become a “Student” where he has many different mentors, and they are able to pinpoint some of the gaps and misses in his journey. There is give-and-take, and the idea here is that he’s able to avoid mistakes that he should not be making that they have probably already made, and they are able to guide him.
The Peer to Peer
[8:08]
Peer to peer is yet another form of masterminding. Mak formed great alliances and became friends with great entrepreneurs. They were able to share that same creed, same bond, same struggle to a great degree, and were able to give back to each other.
Beyond Success
[8:46]
The notion of masterminding is much broader and much deeper than just applying to entrepreneurship or business success. It goes many ways beyond it transcend beyond the business and beyond the corporation’s success. It can readily percolate into your family or other facets of life.
