By Stephen Tweed
Are you the owner, CEO, or COO of a private pay in-home care company providing between 5,000 and 8,000 hours of service per week? Would you like to connect with other CEOs of non-competing home care companies in the same size range? Would you like to meet with those other owners a couple of times a year to share ideas, solve problems, and support one another?
If so, you may be a candidate for a brand new Home Care Mastermind Group being organized by The Home Care CEO Forum. This will be “The Top 7% Mastermind”.
The Top 7% Mastermind Group
According to the 2017 Home Care Benchmarking Study from Home Care Pulse, the median sized private pay home care business generated $1,620,000 in revenue. The 90th percentile company generated $4,870,000, and the 95th percentile company generated $6,855,685. That would make agencies in the to 7% companies that generate about $5.5 million in revenue. This new Home Care Mastermind Group will be for up to 12 independent agencies who generate between $5 million and $8 million in revenue, and who do not compete with any other companies in the group.
The Benefits of Being in a Mastermind
The term was first coined by Napoleon Hill, author of Think and Grow Rich. Hill defined the “Master Mind” as a “coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.” The Master Mind concept was inspired by Hill’s many conversations with the highly successful businessman Andrew Carnegie. Importantly, Carnegie attributed his entire fortune and success to his mastermind group.
Having been part of several mastermind groups as a professional speaker and author, and observing the results of our Home Care Mastermind groups over the past four years, here are some of the observable benefits of being a mastermind member:
- Sharing Ideas – at each meeting, members bring ideas and information about the specific topics on the agenda. In the home care mastermind groups, our topics tend to focus on three areas of the business; sales and marketing, recruiting and retention, and operations and automation.
- Solving Problems – at each meeting, members bring their biggest challenges and other participants offer suggestions and proven strategies that have worked for them.
- Support – members support one another and serve as a sounding board. It can be lonely at the top of a large, fast-growing home care company.
- Resources – each member has their own database of people and products that can help you solve a problem or improve a process. Members are ready and willing to introduce you to someone who can help you solve your problem.
- Accountability – your mastermind group will help you keep focused and accountable to reach the goals that you have set for yourself and your business.
Probably the most notable Mastermind group was known as “Uncommon Friends”; Henry Ford, Thomas Edison, Harvey Firestone, Charles Lindbergh, and Dr. Alexis Carrel met regularly at Edison’s winter home in Fort Myers, FL. Ford like being with Edison so much that he bought the home next door, and today the Edison Ford compound is a museum dedicated to their lives and their accomplishments.
If you would like to apply for membership in the Top 7% Mastermind Group, click on the LINK and complete the short form. We’ll send you a link to our Member Profile Survey, and invite you to our next online video meeting.
The Top 5% Group
The Home Care CEO Forum was created by Leading Home Care in 2013, and organized the very first Home Care Mastermind Group called “The $5 Million Mastermind”. This group has met twice a year since then, and has now been renamed “The Top 5% Mastermind” as all of the members are in the top 5% of home care based on annual revenue. This group of 12 companies range in size from $6.5 million to $25 million in revenue. This group is full, and we have created a waiting list of companies who would like to become a member. (This group’s next meeting will be in Honolulu, Hawaii in April 2018 at the office of one of our member agencies)
The Top 10% Group
In September of 2016, The CEO Forum organized the Top 10% Group made up of companies generating between $3 million and $6.5 million in revenue. This group currently has ten companies, and has openings for two more. The Top 10% Group will hold its next face to face meeting in Albuquerque, NM in March of 2018. For that meeting, the group will visit the offices of one of our Top 5% member companies. The Top 10% Group is planning their Fall 2018 meeting in Honolulu as well. To apply for membership in this group, click on the LINK.
The Strategic Growth Mastermind Group
In October of 2015, three companies met in Louisville KY to organize the Strategic Mastermind Group. These are agency owners providing between 1,500 and 3,000 hour per week, and who would like to qualify for the Top 5% Mastermind. members of this group has measured significant growth in the past year, and several are on track to hit their goal. The Strategic Growth Group has seven member companies and has space for 12. If you own a company generating between $1.5 and $3 million in revenue and you would like to connect with other owners of similar sized, non-competing companies, you can apply for membership in this group. The Strategic Growth Group will hold their spring meeting in New Orleans, LA in March of 2018
As a reminder, no one care join a group if there is another company in that group who serves your local marketplace. That’s one of the reasons we are forming the Top 7% Group. We have agency owners who would like to be in the Top 5% Group or the Top 10% Group, but they are in the same local market as someone else on those groups. To apply for membership in the Strategic Growth Group, Click on the LINK.
