Categories
Mastermind

How Do Mastermind Groups Work?

Mastermind Group
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The idea of a mastermind group is a fairly new concept. It’s new despite the fact that self-help author Napoleon Hill introduced the notion several decades ago. The idea just didn’t hit the mainstream until now. This type of group is created to help people manage professional challenges by meeting with others who are in the same field.  

How Do Mastermind Groups Work? 

A mastermind group uses peer support to help members of the group reach their professional goals. When you become a member, you’ll go to meetings that are held virtually or in-person to brainstorm ways to overcome obstacles and enjoy success. 

The master idea is helpful and inspiring because you’ll be connecting with those who are in similar phases of their careers as you. This type of mentoring is successful since it allows you to discuss ideas with people who will encourage you to take steps to reach your goals. 

Group Overview 

People start these types of groups to help themselves and others succeed. Members enjoy support from their peers and receive assistance dealing with career struggles. 

During a meeting, you can expect to talk about work tasks and the best project management techniques. Administrators will give members time to ask questions and answer them. This means that you’ll be able to ask specific questions. 

How to Start a Group 

Ask people you already know to join your group. Consider inviting people who are more advanced in their careers than you are. If your goal is to become the VP of your company, you’ll want group members who have already achieved this level or higher at their company. 

It can be tough to ask people to join, but keep in mind that most people want to help. They enjoy showing others how to do things. Many people also like providing tips on how to be successful. 

How to Run a Group 

To begin and run a group, invite from four to eight people to become members. Most group organizers discover that six is the best number for a group. 

Try to meet every week. Also, set up the group meetings to last for an hour to 90 minutes. These types of meetings are life-enhancing events, so be sure to prioritize them. Group meetings should be positive, supportive and helpful for every member. 

Make sure that every member is willing to share ideas openly and provide helpful feedback. Begin each meeting by having the participants share something good that happened that week. After sharing something positive, invite members to share a problem or an opportunity. End these meetings by offering appreciation for every member and acknowledge their contributions to the group. 

The Benefits of Mastermind Groups 

After each meeting, you may come away with an action plan and a set of steps that you’ll want to complete before you meet with the group the following week. Your group will hold you accountable for completing these steps, helping you maintain the discipline that you need to reach your goals. 

This type of group will keep you on track. If you run into a dead end, your group will redirect you. They’ll also help you make better decisions and guide you toward thinking about the big picture. 

Your Key to Success 

Mastermind groups are the key to many people’s success. By starting or joining one, you’ll have access to career knowledge and receive inspiration, making it easier for you to achieve your goals. If you need help or support, then contact me at the Productivity Intelligence Institute. 

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Entrepreneurship

Will Entrepreneurship Make You Rich?

Make you rich
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These days, entrepreneurs are more iconic than ever. Before modern times, people primarily looked to great generals, brave warriors, generous saints, and daring philosophers for inspiration. However, in this new era of expanding global commerce, successful innovators and entrepreneurs captivate the average person’s attention more than anyone else. 

Intelligent entrepreneurs provide new solutions to the world’s problems and gain great personal wealth in the process. Thus, it’s no surprise that so many people are clamoring to be the next big innovator. However, being an effective entrepreneur isn’t easy. Everyone wants to know how to get rich, but few people are prepared for the challenges that come with running a business. Therefore, if you want to be successful, then you should consider the three following questions before moving forward with any plans to open a business.

Do You Have To Be Born an Entrepreneur?

While some people may be born with traits that help them succeed in the business world, anybody can become an effective entrepreneur with the right skills, knowledge, and attitude. While talking about starting a business is easy, you need to be prepared to persist when things get difficult. Moreover, you must be decisive when faced with a dilemma, and you have to have good social skills to properly hire employees and manage a team. If you find that you don’t adapt well to change or can’t effectively direct employees, then you need to work hard to build these skills. Otherwise, you may want to choose a different career path.

Is Being an Entrepreneur Worth the Trouble?

Many people study entrepreneurship to learn how to get rich, but do entrepreneurs actually bring in a lot of money? The average entrepreneur earns around $72,000 per year, so there might be better options if earning money is your only goal. While that’s still higher than the average yearly income in the United States, many people think that they’ll earn millions of dollars by starting their own business. Still, although the financial prospects aren’t out of this world, owning a business gives you a lot of independence and flexibility. Therefore, before deciding to start your own business, you should carefully think about your values and goals.

Can You Become an Entrepreneur if You’re Not Already Rich?

A startup isn’t going to fund itself. You’re going to need money to pay your staff, market your company’s products and services, and stock up on inventory, so where are those funds going to come from? Starting off with a lot of money in the bank can help, but even if you’re already wealthy, do you really want to self-finance your business? More than half of all new businesses close within five years of opening. Essentially, this means that there is a 50% chance that you will face a personal financial loss if you start a business with your own funds. If this risk isn’t acceptable to you, then you’re going to have to appeal to investors. Investors will probably want some control over the company, so you need to weigh the pros and cons of self-financing and getting money from investors before picking a way to fund your startup.

Take Control of Your Destiny

Entrepreneurship may be the key that unlocks a life of wealth and success. On the other hand, even if you work very hard, there’s a chance that your business will go nowhere, and you may waste a lot of time and money in the process. Still, with the right skills, a good plan, and realistic expectations, you can bring in a respectable income as an entrepreneur. Thus, if you really want to take control of your life by starting a business, then you must work on your weaknesses and come up with sensible goals and a good plan to maximize your odds of success.

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Creating High-Performing Teams

Three Exercises for Creating High-Performance Teams 

Creating High-Performance Teams
1,807 Views

Business is quickly becoming a team sport. Productivity does not come from individuals sitting in cubicles all day. Instead, high-performing teams work cooperatively to achieve their goals.

Some of the attributes of a high-performing team include clear communication, a goal-oriented focus, and trust. If you are lucky, this type of team might fall into your lap. In most cases, it takes time and effort to cultivate a high-performing team culture.

As a business leader, you want to be proactive about developing your teams. Taking time to perform some simple exercises can go a long way in creating high-performing teams at your organization.

1. Creating High-Performing Teams through Storytelling

Human brains are wired to be social. We make connections through eye contact, mirrored gestures, and active listening. Storytelling exercises are a powerful way to develop trust. Just telling the basic outline of your life story requires a bit of vulnerability and openness.

A storytelling session in a business setting should not feel like group therapy. It should be a relaxed way to make connections. Initial sessions might focus on the story of how each employee came to your company. This exercise will give everyone a sense of the skills their teammates have to offer.

Storytelling exercises can be fun as well. Classic games like Two Truths and a Lie are an excellent way to break the ice. In this game, the speaker tells two facts and one false statement about their background. Participants then try to guess the lie. 

We will explore together how to boost career success, financial success, and success throughout all areas of life.

2. An Exercise in Communication and Cooperation

The ability to work together is essential for a high-performing team. Cooperation requires clear communication. Exercises that promote this virtue can be both practical and light-hearted. 

On the practical side, you can have a session where you go around the group and invite members to share their communication preferences. What forms of passing information get them to pay attention, and what styles will make them shut down? 

In a larger group, having the team members arrange themselves into shapes without speaking is a playful exercise. Forming a square or triangle requires some coordination. As a group leader, this kind of exercise lets you see the unspoken dynamics of leadership within the team.

3. Working Together to Set Goals

High-performing teams stand apart because of their ability to work towards a common goal. Goal-setting should be a regular exercise for the group. At the beginning of a new project, having team members share their vision offers a starting point for a collective goal.

As the entrepreneur, you might take it upon yourself to rank goals based on your vision. You will include most goals, but some will have greater priority. In a consensus-driven culture, you keep the discussion moving until you have established a single mission. From there, you will want the group to talk about steps that lead to the final goal and ways to measure performance.

Click Here For A FREE Goal Setting Worksheet and Workshop!

A Passion for High-Performing Groups

The Productivity Intelligence Institute has a passion for helping entrepreneurs develop high-performing groups. If you are looking for resources and advice, contact us today.

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Agile Leadership

What are Agile Leadership Principles?

Agile Leadership Principles
1,269 Views

The idea behind agile leadership comes from the realization that in many cases, managers wind up holding their workers back instead of helping them achieve success. What is agile leadership and how can you bring it into your management style? Here are four agile leadership principles. 

1. Use Action Instead of Words

Lean agile leadership is about more than promoting change, it’s about embodying change. Managers should direct their employees by example and work on developing their skills to inspire others. Gandhi said, “Be the change you want to see.” 

When you embrace agile leadership, you’ll become a humble manager, one who is compassionate and kind. To become an inspiring leader, you may need to make personal changes before guiding others.  

Keep in mind that the human brain has a hunger for relevant information. The brain is forever trying to predict the next thing. It also recognizes patterns so that it can predict what will happen next. When you embrace agile leadership, prepare for uncertainty with meticulous planning. 

2. Practice High Quality Thinking 

Agile leaders practice high quality thinking to deliver meaningful action. Consider problems from different sides, and be sure to accept help from employees who are close to any issue that you’re working on. This will keep you in touch with what’s going on in the workplace. 

To bring high quality thinking into your management methods, set aside time to think and focus on the most important work tasks. It’s time for companies to make sure that agility is at the heart of their business’s culture. Research shows that once teams become agile, they work more quickly. 

3. Embrace Feedback 

Lean agile leadership requires you to embrace effective feedback. For most people, receiving feedback is a negative thing, but leaders who ask for feedback and use it in a meaningful way show courage and lead by example. Agile leaders make sure that they are noticeably responding to the ideas presented by their coworkers. 

To be an agile leader, provide helpful feedback that is respectful and accurate. Feedback is a great way to figure out what is working in the company and what needs to be modified. 

4. People Want Fulfilling Work  

Agile managers focus on developing a common purpose, one that they share with their workforce. Be sure to create a vision of meaningful change. Take the time to get to know your workers. That way, you’ll understand what’s important to them. This will allow you to unify your team. 

A big part of becoming an agile leader is to give your employees control over their work tasks. That way, they’ll have a sense of belonging on the team and within the company. 

Be the Change 

Agile leadership principles will help you be the change that your business and employees need. When you embrace lean agile leadership, you’ll provide your workers with the kind of support that will help them achieve more. If you need help developing agile leadership skills, then contact me at the Productivity Intelligence Institute. 

Categories
Artificial Intelligence

Can Artificial Intelligence Replace Human Intelligence?

Artificial Intelligence Replace Human Intelligence
1,308 Views

Artificial intelligence (AI) is the science of creating smart machines. AI systems use deep learning, data, and machine learning to operate in a way that copies humans. Does this mean that artificial intelligence will replace human intelligence? It’s unlikely that AI will ever take the place of the human brain.

Artificial Intelligence and the Human Brain

AI systems are faster than people. They have better work abilities too. Compared to humans, AI systems provide more decision-making accuracy and feature smart work skills.

Researchers know that humans become smarter through adaptive learning and experience. The way that people learn doesn’t rely on the information or preinstalled data. Yet, AI requires data like this to function effectively.

There are plenty of Hollywood films that show AI taking over the world. This is fantasy. The human brain is complex, with many layers that aid intelligence. Machines cannot match this. For the best results, companies should combine AI with human talent.

Research shows that companies enjoy a higher work performance when their employees partner with AI. By joining intelligence, people enhance their leadership abilities, creativity, and teamwork. Collaboration creates AI with better scalability and speed.

Human brains use a lot more energy to function than computers. A computer system uses around 2 watts of energy while the brain needs about 25 watts.

Will AI Replace, Human Workers?

While some of the latest AI advancements imitate human intelligence, they cannot bypass the intellect of the brain.

The brain collects knowledge using a sense of understanding, reasoning, experience, and logic. How people experience feelings impacts a brain’s ability to learn and become smarter. This is something that AI cannot copy.

Neuroscience is the reason why AI is as advanced as it is. Those who build AI systems use neuroscience for inspiration. AI systems are modeled after human intellect. They also feature networks that mirror the brain’s structure.

Despite the human brain being irreplaceable by AI, advanced technology can replace some work tasks. For instance, once an AI system shows that it can operate a truck safer and better than a human driver, trucking companies will switch to AI.

There are many benefits to using AI in trucking. An AI system will never become distracted by another driver, operate a vehicle drunk, or speed. The system can also drive for 24 hours without becoming tired.

Human Intelligence is Endless

For AI to take the place of the human brain, technology must learn how to sort out the different kinds of human intellect. People are teaching machines how to apply what they learn in real-world situations. However, AI will need to equal the frequency of the human mind to replace it.

AI can mimic how people operate, but it cannot make rational decisions. To make rational decisions, AI requires evolution to manage what people consider common sense.

Contact me at the Productivity Intelligence Institute if you need help combining AI and your workforce. I can help you bring them together.

Categories
Mastermind

What are Mastermind Groups?

Mastermind Groups
1,217 Views

What are mastermind groups? A mastermind group is a collection of likeminded people who come together to offer one another guidance and support. Mastermind groups provide many of the same benefits as mentoring, but there are several notable differences. For instance, instead of meeting with one person, mastermind groups include five or six members. Also, when you become a member of a mastermind group, you will be expected to participate by sharing and receiving advice. If you enter into a mentorship situation, you’ll just receive advice.  

What Happens During a Group Meeting? 

When you meet with this type of group, you can expect to brainstorm with other group members. The group may offer an educational presentation, or you could wind up talking about personal issues. 

Mastermind groups are often mistaken for mastermind classes, but this is not accurate. Mastermind groups do not have one teacher who presents a prepared lesson each time you meet. Think of this type of group as a “meeting of the minds.” As a member of one, you’ll be able to speak truthfully and receive the same from other group members. 

Mastermind meetings are not places where people network. You should not expect one-on-one coaching or any other kind of coaching from the group because it won’t have a solo authority figure. The group will have a leader, but this person’s job is merely to oversee community-building within the group. 

Why You Should Become a Mastermind Group Member 

The benefits of mastermind groups include: 

• Being a member of an exclusive community 
• Gaining access to expert advice 
• Collaborating with likeminded people 
• New learning opportunities 
• Promotional assistance 
• Receiving encouragement to think bigger 

Before becoming a member of a group, consider: 

• Why you want to join the group  
• What you want to contribute to the group 
• How the group will help you achieve your goal 

The great thing about mastermind groups these days is that technology has made it possible for anyone in the world to come together on a regular basis. In fact, it may be especially beneficial to join a group that includes people from different parts of the world. 

People think and act in different ways when they are in a group than when they are working on their own. When people are in a group, they work better. It’s invigorating to be a part of a group. Also, when you’re a part of one, you may be more encouraged to develop goals and continue working toward them. 

A New Mentoring Method 

People know that it’s helpful to have a mentor, but it’s becoming rare to have one. Thomas DeLong, a professor for the Harvard Business School, studied professional service firms. He said, “Everyone we spoke with over age 40 could name a mentor in his or her professional life, but younger people often could not.” What are mastermind groups? Mastermind groups are a great way for professionals to gain access to the guidance they need but don’t know how to find. 

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Cultural Intelligence

Why Is Cultural Intelligence Important?

Cultural Intelligence
1,100 Views

The world is becoming more and more interconnected. As a consequence of this, people from a variety of cultures, ethnicities, religions, and nationalities are working with each other every day to bring the greatest products and services to the global market. You want your enterprise to remain competitive. Thus, to stay on top in the modern business landscape, you should consider the following benefits of improving your firm’s cultural intelligence.  

Improve Workplace Harmony

Cultural misunderstandings are very common in the modern workplace. However, some basic sensitivity training can give employees the tools and knowledge necessary to avoid offending their fellow workers. Such training is very easy to conduct and doesn’t cost much, but it can make a huge difference for everyone in the firm. At the end of the day, your company will always benefit when employees understand and respect each other’s cultures. 

Understand Customers and Markets

The same product can perform very differently in different countries and regions for a variety of reasons. Moreover, a product’s success is heavily tied to its marketing. If a company does not understand the general cultural norms of every one of its markets, then its products may underperform or even offend certain demographics. By understanding the different cultures and groups of people in all of your markets, you can tailor your firm’s message and effectively appeal to a broader range of clients.

Maintain a Good Reputation

Customers don’t want to do business with a company that makes cultural faux pas. People around the world value equity between different groups more than ever. Thus, it’s important for everyone in your company to be aware of their biases so that the firm can project an image of acceptance and inclusivity. The public will notice and appreciate a brand that treats people well across all cultures, and they’ll also notice the companies that don’t make an effort. 

Impress Qualified Talent

Employees are the backbone of your firm. Without qualified employees, your company simply can’t compete on a global scale. These days, workers don’t have to settle for organizations that don’t respect their cultural values. Consequently, if your company doesn’t make a strong effort to appeal to individuals of many cultures and social groups, then it will miss out on the best talent. Eventually, this will cause the business to fall behind the competition. Your next employee of the month could come from anywhere in the world, so it’s vital that your firm’s recruiters and HR professionals are well-versed in the norms and values of as many cultures as possible.

Strengthen Your Business With Better Cultural Intelligence

All kinds of markets continue to expand across the globe every day. If you’re not doing everything in your power to boost your firm’s cultural intelligence, then your company won’t be able to keep pace with the evolution of global commerce. Unless you want your company to fall behind, it needs to strengthen cultural awareness at all levels of the business. With good cultural awareness, your company can serve its customers more effectively than ever and make the world a better place for everyone.

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Actionable Insights

Leveraging Actionable Insights To Win More Business 

Leveraging Actionable Insights
1,159 Views

As an entrepreneur, you run into new challenges every day, which may make it difficult to expand your business. Naturally, you want your enterprise to grow, but broadening your business’s reach isn’t a walk in the park. Nonetheless, achieving sustainable growth isn’t impossible, and you can win more business by leveraging the following actionable insights.

Set Smart Priorities

Some matters are more urgent than others, and you should know which projects will bring the greatest benefits to your enterprise. Before assigning tasks or tackling any work yourself, you should have a good idea of where your business stands. What are the closest deadlines? Which projects need the most attention? Once you understand these broader aspects of your company’s operations, you can break them down into smaller tasks, delegate work, and set meaningful target dates. In turn, your clients will be more satisfied with your company’s work, and you’ll have more time and resources to market your business to new customers. If you’re not sure where to start, then you should sit down with relevant managers and department heads to assess the state of your business’s operations.

Analyze Existing Data

Data is invaluable when trying to establish patterns and understand trends in your enterprise. Luckily for you, your business has been generating useful data since its inception. Bank statements, time sheets, receipts, HR files, calendars, and any other written records count as data. By analyzing this information closely, you may notice patterns that may not have been so obvious before.

For example, after checking your HR records, it may become clear that the company experiences a ton of employee turnover in the summer months. Such a labor problem would surely affect your business’s efficiency and make it difficult to reach new customers. However, upon uncovering this information, you would be in a better position to gather more information and come up with effective solutions before the issue arises again.

Maintain Contact With Clients

A loyal customer is more profitable than a new customer. However, you can’t take long-time customers for granted. If they’re not satisfied with your enterprise, then they probably won’t have a difficult time finding another company to work with. Therefore, you should make sure to regularly check in with your clients to see how they’re doing and ensure that their needs are met. Your clients will enjoy knowing that you care about them, and they’ll also be more likely to reach out to you in the future whenever they require more goods or services. Moreover, your customers may give more feedback if you maintain more consistent contact, and your business can gain actionable insights with this information. 

Win More Business by Taking Advantage of Data

Information is now easier to gather than ever before. Thus, if you’re not currently leveraging all available data to improve your enterprise’s productivity, then you are wasting a valuable resource. The modern business landscape is more competitive than ever, so you need to stay at the forefront of your market by capturing valuable data and making full use of it.

Categories
Projects Programs and Portfolios

Expert Interview with Rich Maltzman

Rich Maltzman, PMP
966 Views

Today we are speaking with Rich Maltzman, PMP, co-author of several books on Project Management, including the Cleveland Award-winning Green Project Management, and most recently, Bridging the PM Competency Gap, co-written with Loredana Abramo, PMP.  The two co-authors offer assistance in PM competence building via their consultancy Continuous Learning Environment (CLE Advisors).

Loredana Abramo, PMP® Worked 25+ years in 4 continents, Deployment lead engineer, operations and services readiness manager, PMO deputy director, senior quality PgM



Rich Maltzman, PMP, has been an engineer since 1978 and a project management supervisor since 1988, including a two-year assignment in the Netherlands in which he built a team of PMs overseeing deployments of telecom networks in Europe and the Middle East. His project work has been diverse, including projects such as the successful deployment of the entire video and telecom infrastructure for the 1996 Summer Olympic Games in Atlanta, and the 2006 integration of the program management offices (PMOs) of two large merging corporations. As a second, but intertwined career, Rich has also focused on consulting and teaching, having developed curricula and/or taught at:

  • Boston University
  • Merrimack College
  • Northern Essex Community College
  • University of Massachusetts– Boston
  • Clark University
  • Benedictine University’s Asia Institute (Shenyang University of Technology)

Rich has also professionally developed project management professional (PMP®) exam prep courseware, including exams and books. He even edited and was “the voice” for a set of eight audio CDs—a major part of a PMP prep course for an international company, for whom he has also facilitated PMP exam study groups. Rich was selected for the modeling team for the fourth edition of the PMBOK® Guide published by the Project Management Institute (PMI) and contributed to the chapters on quality and risk in both the 4th and 5th Edition, and provided input for the 6th Edition as well.

Rich has written and presented papers at international conferences of PMI and IPMA (International Project Management Association), and the Conference Board in South Africa, The Netherlands, Costa Rica, and Mexico City as well as the PMI Congresses in North America.  He also presented, on request of the Government of Malaysia, at their Green Technology conference in Kuala Lumpur in 2013.

Rich’s educational background includes a BSEE from the University of Massachusetts–Amherst, and an MSIE from Purdue University. In addition, Rich has a mini-MBA from the University of Pennsylvania’s Wharton School and a master’s certificate in international business management granted jointly from Indiana University’s Kelley School of Business and INSEAD of France.  Rich received his PMP in 2000 and was certified by Change Catalysts as a CQ Certified Change Management Professional in 2015.

Rich has co-authored two other books – Green Project Management (CRC Press, ©2010, Cleland Award Winner) with David Shirley, PMP, and Project Workflow Management with Dan Epstein, in 2014.  A new book, Driving Sustainability Success in Projects, Programs and Portfolios, published in October 2015 by CRC Press.  J. Ross will be publishing another book, co-authored by Rich and with Loredana Abramo, PMP in late 2016, Bridging the PM Competency Gap.

Rich blogs regularly at earthpm.com and at “People, Planet, Profits, and Projects”, in the “Perspectives” section of projectsatwork.com, a PMI web site.

Categories
Projects Programs and Portfolios

Interview with Stuart Easton – Strategic Alignment Really Matters! 

Strategic Alignment
944 Views

Stuart Easton is the CEO of TransparentChoice and is a veteran of the software space. His background includes stints working on reporting and data analytics and he is passionate about improving business outcomes for his customers. Stuart lives in the UK and enjoys hiking, mountain biking and playing with his kids. This recording will be our 3rd discussion, and we have a lot to chat about, so let gets started.