The longer I have been in business, the more that I have realized relationships are a massive key to success. I first started this real estate journey with my head down and focused solely on the next deal. This worked while I was flipping and buying small rentals. A lot of deals got done and great progress was made, but I wasn’t creating a sustainable business. It was just a hustle.
As I continued to grow, however, I noticed that a lot of my success hinged on other people. You see, as an individual running a track race, you can only sprint at full speed for 200 meters, but with a team of 8, we can go on at top speed for a mile. In fact, the world record 8x200m relay is 1:18.63 and the world record 1,600m is 3:43.13. The individual time is amazingly fast, but the team could have run nearly 3 miles in the same time as the individual!
Over the last several years, I have purchased a large amount real estate through the valuable relationships that I have been a part of. Through focusing on building relationships, I have watched my business and personal growth flourish. It’s not only me. I have spent a great deal of time interviewing business owners on my Pillars of Wealth Creation Podcast and find that everyone that I interview mentions relationships as a large factor for their success.
This is exactly why I changed my Multifamily coaching program over to a mastermind. Not only is there a massive amount of education, but there is collaboration with other people, that are going in the same direction. This allows for some amazing learning and business opportunities for those willing to open themselves up.
Napoleon Hill, author of Think and Grow Rich, says that a Mastermind is the “Coordination of knowledge and effort, in a spirit of harmony, between two or more people for the attainment of a definite purpose…No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind….When a group of individual brains are coordinated and function in harmony, the increased energy created through that alliance becomes available to every individual in the group.” Mr. Hill is a huge advocate of mastermind groups and growing your network, understanding the collaboration and knowledge that can be harvested.
The great thing about being a part of a group that is all focused on similar goals is the collaboration and knowledge. Partnerships can be formed to take down deals, introductions can be made to help fill in key team members, motivation and accountability is naturally provided to drive others to their goals and ideas and knowledge is shared to expand your business reach. Just like the relay race, knowledge and collaboration is bundled together to push oneself further, faster and more profitable, all while making less mistakes.
I’ll leave you with the 10 reasons why joining a mastermind (or several) is valuable:
- New Ideas
- Collaboration and partnership
- Combined knowledge
- Cross promotion
- Strategy sessions
- Develop positive habits
- Access to more resources and others networks