On Saturday, September 22nd, 2018 nine female pharmacists met in Nashville, TN to spend a day together working ON our businesses and identifying ways to support one another.
Masterminding is a concept made famous by Napoleon Hill’s classic “How to Think and Grow Rich“.
A mastermind group is a peer-to-peer mentoring concept used to help members solve their problems with input and advice from the other group members. The concept was coined in 1925 by author Napoleon Hill in his book The Law of Success, and described in more detail in his 1937 book, Think and Grow Rich. In his books, Hill discussed the idea of the Master Mind, which referred to two or more people coming together in harmony to solve problems.
Recently, small business owners have taken this concept to a whole new level in the “facilitated Mastermind”.
A facilitated Mastermind is a formal meeting of entrepreneurs who come together to help each other with their businesses.
The best facilitated Masterminds are between 6 & 8 people, diverse enough to support each others strengths and weaknesses and homogeneous enough so that the business owners are at similar points in their business journey.
I, myself, have been involved in Masterminds throughout my business journey.
In 2016, I participated in a 6 month Mastermind with other women with online businesses.
In 2017, I participated in a 9 month Mastermind with other women with 6-figure businesses which were both online and brick and mortar.
And this year in 2018, I’m working directly with two other business owners one male, one female who are at the 7-figure business level in hopes to learn from them and grow the impact of the Pharmapreneur Academy.
Pharmacy’s First Formal Mastermind Event
The Female Pharmapreneur Business Development Retreat was pharmacy’s first (to my knowledge) facilitated Mastermind ever.
Represented by our group was 8 states: Arkansas, California, Colorado, Georgia, Kentucky, Missouri, Oklahoma and Tennessee.
Also represented was various specialties, from compounding to non-profit to insurance payers to naturopathic medicine.
It was truly a very special group and something I hope to offer again in the near future.
I also want to thank Live Oak Bank for sponsoring part of this event and for sharing information with us on the various opportunities for investing in our business and calculating a return-on-investment.
The structure of the day’s agenda:
- 8:00 – 8:30 Introductions and Breakfast
- 8:45 – 9:45 Setting Big Annual Goals
- 10:00 – 11:30 Prioritizing Quarterly Strategic Objectives
- 11:45 – 12:30 Working Lunch Provided by Live Oak Bank
- 12:45 – 1:15 Measuring Monthly Metrics and Creating Weekly Action Steps
- 1:30 – 4:30 Facilitated Masterminding
Upon completion of the Workshop, each attendee was presented with their own copy of the 2019 Business Development Planner, now available on Amazon.
Our Homework for the Retreat was to:
- Schedule a CEO Day before the end of the year
- Set a Big Annual Goal for 2019
- Make a strategic plan for Quarter 1 of 2019 to get started towards our Annual Goal
Also, we committed to staying focused on actions that move us closer to those goals and give us permission to say “NO” to opportunities that don’t align with those goals.
As nine women gathered together, we felt the power of diverse backgrounds, diverse ways of thinking and the collective power of the Master Mind.
It was truly a magical experience and something I plan to offer again in 2019.
If you’re interested in our next event, let me know and I’ll add you to our waiting list.
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