7 Benefits of the 9th Step to Riches

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Ten years after graduation, the average doctor remembers half of the information they knew at graduation. Essentially that leaves them only half as qualified to do their job. Part of that is forgetting or not reviewing material, part of that is not knowing the material in the first place, and part of that is not keeping up with the ever-changing field. 

We are in the same position.

How many times have you come back from a seminar, set your notes off to the side to get “around to them” later, and suddenly it’s been three months and not only have you not looked at them again, but they are buried under a pile of other material that you had set off to the side to look at later?

Your goal should be to review important notes, books, and DVD’s at least once per year. As you know, my friend and ETR editor Craig Ballantyne has a set of Guiding Documents that he reviews every day. That’s because he sees the value in regularly studying the most important material in his profession. Summarize your notes from seminars and find a way to incorporate regular review sessions on an annual basis, if not more often.

It’s quite shocking how much information you miss the first time around. That’s why one of my personal goals is to reread one book that I already own for every new book that I buy.

But the real key is whether or not you are sharpening your own tools by attending seminars and reading books in the first place. You should be working with a business coach that can help you with the vision and implementation of your career and entrepreneurial strategies and tactics. You must get involved in a coaching group or Mastermind.

My friend Bedros Keuilian writes in his Success Codes (one of Craig’s Daily Guiding Documents), “The fastest, easiest and most direct way to success is to model it. Don’t try to recreate the wheel. Instead, surround yourself with people who are already achieving what you want. Get coaching, buy into mastermind groups, and model success.”

These are your first steps to bettering yourself, building wealth, and growing your riches. You must be retaining information and growing your education – otherwise you are forgetting and becoming less and less qualified every day – just like the doctors I described earlier.

Education is a constant flux. You are either putting more material in and growing, or you’re not learning and thus you’re shrinking. If you shrink, your opportunities in life shrink. Your odds of getting a promotion decrease dramatically. Your business stagnates. Worse, if it doesn’t grow, it often dies.

“You are the average of the five people you spend the most time with,” said Jim Rohn, legendary coach and one of my favorite business authors. I agree. Statistically, your income and health will reflect the average income and health levels of the people you spend time with the most. That’s why you need to mastermind with those who attract wealth, not those who attract poverty.

The definition of Mastermind from Think and Grow Rich by Napolean Hill is “an alliance of two or more minds that create a friendly environment to gather, classify, and organize new information for fast and effective implementation. You cannot do it by yourself. Hill listed The Power of the Mastermind as the 9th step to riches that was common amongst all of the millionaires he studied when writing his book.

Seven benefits of this 9th Step to Riches are:

  1. Brainstorming with positive like-minded thinkers and achievers.
  2. Being listened to and helped by more successful peers.
  3. Being motivated and challenged – and held accountable – so that you take action.
  4. Being accepted – rather than ridiculed or ostracized by small-minded people.
  5. Being recognized for your achievements by others that praise and support you, and that can identify with your accomplishment over trials and tribulations.
  6. Being in a safe environment to share confidential information.
  7. Being amongst intelligent coaches that have fresh eyes to see opportunity and objectivity to give you important feedback on your vision and actions.

That’s the Power of the Mastermind. That’s why I’m in one, Craig is in one, and we’ll both likely be in Masterminds for the remainder of our working lives.

Don’t try to go it alone. Take advantage of the Power of the Mastermind. Take advantage of the teaching, the coaching, the listening, and the motivation that others want to give to you. This is the best environment to harness your intense desire so that you can achieve what you want in life.

NOTE:

If you are interested in attending a Mastermind with Craig Ballantyne to help you build your online business, please email Support@ETRHelp.com.Craig’s next 1-Day Mastermind session is happening Wednesday, September 10th in Las Vegas.

Ed. Note: Alwyn Cosgrove is the owner of Results Fitness, Santa Clarita, California’s Number One Fitness and Sports Training Facility. He is a regular contributor to Men’s Health magazine and the co-author of several workout books, including his latest, “The New Rules of Lifting for Life” with Lou Schuler.

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  • anglophone

    I appreciate this but wonder what if one of the five people is a close relative who hangs around and has achieved nothing but takes everyone down? Do you rid yourself of the aged person who wants everyone on a poverty level such as his? No encouragement or ambitions except for beat up old cars etc meanwhile I am succeeding in a small business.

    • ttcert

      Why would you hang around this person?