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Tapping the Power of the Mastermind

By Stephen Tweed  IMG_3262

What’s the fastest way to grow your business to the top tier of home care?

Hang out with other leaders in the top tier.

I’m writing to you from Phoenix, Arizona where we just finished the spring meeting of the Top 10% Mastermind Group sponsored by the Home Care CEO Forum. For the past three days, 18 CEOs and COOs from 11 home care companies from across the country met to discuss the major issues they are facing. The group is limited to 12 companies who do not compete with one another.

Like most of you, the biggest challenge these home care leaders are facing is The Caregiver Recruiting and Retention Crisis.  Half of the first day was devoted to conquering this crisis.  Other topics the group attached were:

  • Key Performance Indicators
  • The Caregiver Quality Scorecard
  • Pay scales and the role of pay in recruiting
  • Organization structure and allocation of office resources
  • How to increase short term sales and cash flow during a slow period
  • Issues with various forms of payment – checks, credit cards, and ACH
  • How to stay top of mind with potential clients who will need service six months from now
  • How to handle client rate increases

The second day of our mastermind meeting is a day for learning about leadership.  This group studied the results of our 2016 Home Care CEO Leadership Study.  We examined the lessons for leading home care into the future.

The we talked about role clarity for each job in your office, using our Role Clarity Worksheet.  We also talked about the importance of Role Clarity in recruiting and selecting office team members.  The group participated in an exercise to create role clarity for the job of External Recruiter.

This group will meet again face to face in September. They have asked if they could visit one of the members of our largest mastermind group, the Top 5% Group.  We’ll work with one of the members to set up a field trip for this group to visit one of those agencies.

Who is in your Mastermind Group?  St. Louis 2 - Small

I first learned about the Power of the Mastermind from colleagues in the business of professional speaking.  Through our National Speakers Association, Elizabeth and I have belonged to several mastermind groups. We have received ideas from our mastermind groups that have turned into millions of dollars of revenue for our speaking and consulting businesses.  We’ve been able to measure the direct dollar Return on Investment from belonging to a mastermind.

While you may not have a formal mastermind group, who are the other business owners or leaders who influence you. Whether directly or indirectly, you are learning from others.  Have you stopped to really think about who you exchange ideas with, and how that has helped you grow your business?

What if?

What if you formalized that relationship? What if you became a member of a Home Care Mastermind Group?  Through the Home Care CEO Forum, we have introduced the mastermind group concept to this industry.  Currently, there are five groups operating with about 47 companies participating.

There is still space available in a few of the groups.

If you are serious about taking your business to the next level, and you’d like to interact on a regular basis with other owners and CEOs of non-competing home care companies of about your same size, you may want to consider becoming a member.

For more information, Register Today. We’ll send you the details and let you know about which groups you might fit into that have openings available.

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