At the Bash, marketing guru Joel Cohen and I introduced the concept of a Mastermind Marketing Group as a means to help the attendees stay on track and get where they want to go even faster ... and we decided that we should open that opportunity up to others who, for one reason or another, were not able to be part of the Las Vegas program.

If you are tired of being “good enough,” fed up with being just doing average volume, weary of busting your butt for peanuts, ready to go from ordinary to extraordinary ... and reluctantly facing the reality that those big changes are unlikely to happen without some strong outside support ... then you may be ready for our Mastermind Marketing Group. In addition to having Joel and me as on-board consultants, the Mastermind concept allows you to tap the wisdom of peers with similar goals and to take advantage of the synergy of the group. All of the great fortunes have been made with the support of a Mastermind alliance ... why not yours?

Why Do Top Performers Use Coaches?

When Arnold Palmer needed to tune up his game to compensate for his age, he sought out a 26-year old swing coach. Anybody who follows golf knows the troubles Tiger Woods had with his game after parting with his coach Butch Harmon. We know most athletes in every sport use coaches, personal trainers and sports psychologists. Do independent restaurateurs need coaches too?

Different people have different needs at different times in their lives, but we find that most entrepreneurs share the following six needs to varying degrees:

Being Held Accountable
It's a joke of entrepreneurship that the good news and the bad news is that you're your own boss! Having a coach guide you in committing to doing, changing, testing certain things between now and the next call or meeting, then having you report on those things is guaranteed to improve your follow-through on you own best ideas! In short, accountability automatically improves performance and results.

Being Questioned and Challenged
The more successful you are, the less likely the people who work for you or are around you all the time are to challenge your ideas. It is easy to end up surrounded by “yes men.” The outside coach with no axe to grind can be both objective and frank. He can ask the provocative questions that force you to think through and defend your idea. If you can, that’s valuable. If you can’t, that’s valuable too.

Being Listened To
When you are at the top of your organization, who do you have to talk to about business or personal matters? Where can you dare to “let your hair down?” Who will listen without any agenda? Having a coach with life and business experience relevant to your own, who is personally successful, who can relate to you and who you can relate to is extremely beneficial.

Being Recognized For Your Achievements
Everybody needs recognition and celebration ... but who can you brag to? Certainly not your staff, your competitors or your vendors. Even the mate and the kids can fail to grasp the magnitude of your accomplishments and be disinterested. Having a knowledgeable coach or, better yet, being part of a coaching/mastermind alliance gives everyone an appreciative audience who “gets it,” who understands your accomplishments and is able and willing to celebrate your achievements because they are secure in their own success.

Being Accepted
A lot of successful entrepreneurs suffer silent frustration and loneliness because they think and talk differently from almost everyone around them. Feeling like a fish out of water most of your waking hours is not all that pleasant. That’s why being part of a coaching/mastermind group with like-minded “renegades” is so invigorating. One of the core human needs is to be accepted for who you are, without the need of a mask or cautious editing of what you are thinking.

Being Motivated
Top athletes are paid millions of dollars to play a game whether they win, lose or draw. You wouldn’t think that motivation would be an issue but the truth is that they need a great deal of motivation to do all the behind-the-scenes hard work required for peak performance on the field. Ultimately all motivation is self-motivation but there are definitely contributions made by the people and ideas you associate with, the involvements you’re in and the successes of other you are exposed to.

Why Would You Want a Coach?

If you're like most "normal folks," then time slips up behind you almost unexpectedly ... along with the thought of hurriedly getting your business ready for next year. What are you going to do differently that will make your sales needle rise?

Some are quite content to see a 3-5% annual sales increase ... but there is a small group of renegade operators out there who truly want to make an impact -- an impatient group who understands you only rock once -- you only get one chance at the big reward. They know they could -- and should -- be doing more than they are now and they are tired of waiting for some magical wand to strike them and make it all better. They want what they want ... and they want it now!

Joel and I are looking for a few of these maverick restaurateurs who want to become great to fill out our first Mastermind Marketing Group. We are talking about operators who want to double or even triple their sales and are willing to step off that cliff to see if they can fly. Are you one of them? Are you ready to step out of your comfort zone, find out how good you really are and go on a journey that could change your business ... and your life ... forever?

How Does It Work?

Here is an outline of the structure of our Mastermind agreement. It lays everything out to be sure that you are clear on your duties and responsibilities and that you understand what you are getting into should you decide to join us .

THE GROUP:
To join the Mastermind Marketing Group, you must first be committed to achieving at least a 200% annual sales growth. A coaching group is limited to nine companies and we will only work with a maximum of two groups in 2007.

WHAT WE WILL DO:
  (a)  We will facilitate the group, keep people on track and enforce the rules. Most of the group policies are spelled out here, but we may establish others from time to time as we or the group deem necessary.

  (b)  We will conduct coaching teleconferences twice a month to handle issues, help you set goals and targets, review progress and suggest course corrections. We will also be available to you for one-on-one troubleshooting advice by telephone or e-mail.

  (c)  We will conduct three face-to-face Mastermind meetings with the entire group to discuss marketing-related strategies, facilitate networking and present new concepts and discoveries. The location and duration of these meetings will be determined as we go along but we encourage you to volunteer to host one of the gatherings. This will give you more visibility with the members of the group which, in turn, should improve the quality of the input you will get (and save you some travel expense!)

  (d)  We will keep an eye on your operations and management activities, including controls, policies, systems and procedures. We will suggest corrective action where we think it appropriate.

  (e)  We will review your marketing materials and activities. We will help you develop an annual marketing plan and provide monthly assistance to keep the plan current.

  (f)  We will take a look at your menus and make recommendations on the design, selection of menu items, pricing, recipes, costing, engineering and the like.

WHAT WE WILL NOT DO:
  (a)  We will not do it for you. Our role is strictly one of advice and counsel to you. If we mutually identify any work that might require professional activities beyond the scope of those previously mentioned, we will consider that a separate consulting assignment. We will not take on any work of this sort without your prior approval of a separate engagement letter clarifying the scope of work, timing, budget and payment terms.

  (b)  We will not sacrifice your business for your ego. We will not fail to tell you the hard truth as we see it and or give you less than our honest feedback on your efforts. In short, we will not pull any punches.

WHAT YOU WILL DO:
  (a)  You will participate in all monthly coaching teleconferences.

  (b)  You will attend all Mastermind meetings.

  (c)  You will stay open to our recommendations and those of your peers, reflect on your options, make your own decisions, set your own goals and put your plans into action. You will track your results and report your progress back to the group.

  (d)  You will make your payments to us on time!

  (e)  You will keep accurate books and records. Books can be kept on a monthly basis or using thirteen 4-week accounting periods as long as you are consistent year to year.

  (f)  You will maintain strict confidentiality about anything that is discussed among group members.

WHAT YOU WILL NOT DO:
  (a)  You will not ask for help but never offer any. You will not offer help but never ask for any. In short, you will not fail to be a full and open participant.

  (b)  You will not lie to us or to anyone in the group, either overtly or by omission.

THE BASE NUMBERS:
For the first year, increases will be calculated on your projected monthly (or periodic) sales for the twelve months ahead. These projections (“Base”) will represent your best estimate of future sales, assuming that the business was operated consistent with past practices and considering the historic rate of increase or decrease from prior years. So, for example, if your sales for a given month last year were $100,000 and historically you had been showing a steady 10% sales increase, we would expect your base projected sales for that same month next year would be $110,000. We need your Base projections before we get started.

To be sure we are on the same page, we also want to see your monthly sales figures for the previous 24 months. If, in our opinion, your Base projections do not appear reasonable, we will try to come to an agreement with you on a set of Base numbers. If we can’t agree, we can’t work with you.

COACHING FEE:
Our compensation for services rendered is 5% of the amount by which gross sales exceeds the projected Base sales. After you have been in the group for over a year, it is the amount by which sales exceed the same period for the prior year. The minimum is $500 a month, payable in advance either by credit card or electronic funds transfer. If you keep your books on a periodic basis, the minimum is $460 per period.

Within ten days of the end of an accounting Period, you will send us the sales results for that Period. The balance of the coaching fee is payable when we receive your periodic sales results. If gross sales do not exceed the Base, your total fee will just be the amount of the minimum. Our Canadian friends will work in CDN$ and just pay the US$ equivalent.

An arrangement like this makes all of us highly motivated to achieve massive sales growth. The big question is whether it is worth five bucks to you to get an additional $100 of unexpected new sales, particularly if you acknowledge the reality that you probably won't actually see that increase without some ongoing support. Setting it up this way, your fee comes entirely from "found money."

DEFINITION OF GROSS SALES:
Just to be clear, the term "Gross Sales" means the total actual sales of the restaurant from all sources (F&B, retail, catering, etc.), less sales taxes or other taxes collected from guests.

CANCELLATION:
This is an open-ended month-to-month arrangement. You can drop out of the deal any time you don’t feel you are getting value, if we are not doing what we said we would do ... or if your gross sales do not exceed the Base for three consecutive periods. Likewise, we will ask you to leave the group if you are not participating, if you are not doing what you said you would do (like attendance or meeting your goals) ... or if your gross sales do not exceed the Base for three consecutive periods.

Once the Agreement is canceled for whatever reason, that’s it -- you can never be part of another coaching group with either of us. This provision may sound harsh, but the reason for it is to create some pressure for you to work around your personal obstacles, stick with it and really make this work. At the least, this kicker should make you think long and hard before you give up on the Mastermind idea.

ACTION REQUIRED
If all of this sounds good and you agree to these terms and conditions, please confirm your interest in being part of the group by return e-mail. If you are not interested in being part of a group like this, please let us know that as well so we won’t keep bugging you about it.

The choice to make the leap into a program like this is just another decision you will have to make in the normal course of business. An inclination toward decisive action is one of the keys to freeing up your time and achieving the goals you set for yourself. Not making a decision is, in itself, a decision and you will find it very profitable to stamp out procrastination wherever it appears in your life.

Don't let yourself waffle on this decision, either. If you still have questions, ask them so you can make a choice and move on to the next item. We have had several exchanges with various people on the details of the Coaching Group and we thought perhaps our responses might help you clarify things in your own mind.

Frequently Asked Questions:

Q: Is the fee $500 PLUS 5% of net increase above base?
A: The $500 is an advance against the 5% above Base. The 5% incentive is on any amount above Base, but bear in mind that this year's windfall will become next year's Base so any increases will be measured on top of that. If you doubled or tripled your volume next year as a result of being part of the group, would you begrudge us our 5% ... or be grateful for your 95% (which is probably 2/3 pure profit)?

Q: How much time will be required of me during this process? I am not limited in any way but I want to prepare accordingly.
A: As far as anything we have planned, there is a 60-90 minute teleconference every other week plus the three meetings. Anything above that (one-on-one counseling, plan implementation and the like) is your call.

Q: In regards to the three mastermind meetings, how long do they last, how long will I be gone for each meeting? If I decide to proceed I have no problem hosting one or all of them. Although I'm probably not your best bet being in such a small town.
A: At the moment we anticipate the meetings will last a day and a half, but the group may decide to make them longer. In any case there will probably be at least two nights of hotel involved (unless you host the event). The size of the town really isn't that much of an issue, but proximity to an airport, meeting space and hotels rooms are all factors we'll have to consider in picking the locations.

Q: I would like my managers and my partner to be part of all this. Can I do that?
A: Outside of the three group meetings, most of the coaching happens on the two monthly teleconferences. You are welcome to have anyone you like listen in on the calls, but for practical reasons only one person can speak for the company. We have kept the group small to be sure that everyone gets all the time they need to deal with their issues and that can't happen if we have 75 people who want to speak every time we get together.

Q: I know the program can be continued past the first year but how long after that is available? Since times are constantly changing I may opt to partner with you in longer terms.
A: The relationship will last as long as it is productive for both of us. I am sure there will come a time when I will want to reduce my schedule but by then there will be others who can keep things going.

Q: How do I know that I will get value from the group?
A: What you get from the group is really up to you and how willing you are to actually push your limits and take action. We can tell you that the folks who were with us in Las Vegas came away with an entirely different commitment to their operations (as did the two of us) -- and that was the result of just a short exposure to the energy of the group. The biggest factor in whether you get value or not has more to do with your own commitment than anything else. Our job (and that of the other group members) is to keep you focused and help you get past the sticking points that have always stopped you before.

Q: I am very interested in joining the Mastermind Marketing Group. However, I think that the base payment of $500 per month is a little steep, at least for the beginning. I am more than willing to join this group and pay the 5% of the amount by which gross sales exceeds the projected base sales. I just think that after joining this group I won't be able to see results until at least a month or two into the year, so I really will not be able to afford this payment until after my sales begin to increase. Could we work something out?
A: The job of the group is to help you see results immediately, but the percentage will not start until your second month in the group. It takes a few weeks for any program to show results, but we will not let you coast, even during the first month. If you don't have an urgency to grow sales immediately, we will not let you into the group to begin with.But I understand that this is all a new idea and new ideas are always a little scary, so let me put this into perspective.

For us to earn $500 you only have to generate $10,000 a month in new sales ... between two restaurants! That's an additional $1250 a week each or an average of just $180 more a day in both units. I can tell you how to easily get much more than that out of just ONE of the restaurants ... and how to get it in January when everyone else is crying the blues!

However, if you are just concerned about generating enough extra money to cover the minimum, this is not the group for you. We want you to look forward to joyfully paying fees of $5000 a month ... because that will mean that you have an extra $95,000 a month in new sales!

Among other things, the purpose of the minimum is to be sure you are committed to taking Massive Determined Action, an essential part of the process of doubling or tripling sales. Without something invested, it is too easy to slip back into your old patterns and that definitely will not serve you. If you "can't afford" to front the $500, even better -- it will make you hungry to stop screwing around and really get busy (which, of course, you will have to do to see a 200-300% increase). In this game, impatience can be a good thing.

Part of our role in the group is to hold your feet to the fire and help you re-discover that part of yourself that achieves greatness. We wouldn't be doing our jobs if we let you waffle at the get-go. This is the sort of "tough love" you can expect from us. If you are not ready to run with the big dogs, you need to find another race.

Q: I am a big fan of the coaching concept on all levels. That is what successful managers should be doing for all employees, but who does it for the manager/owner? (You apparently!) Your program is compelling and I find the terms reasonable but I think this may be more than I can commit to at this time. I think it better to wait until I am ready rather than squander the opportunity. We are just getting back into the business after an extended career diversion with the purchase of a successful local restaurant. I think a coach would be a real benefit from Day One, but I don't want to bite off more than I can chew.
A: If you acknowledge that this what successful managers should be doing, when exactly would you like to be successful? Personally I can't think of a better time to have a support group than when you are getting it all up and running. My guess is that the group can help you get more done in less time and keep your sanity in the process ... but it is your business, your life and your choice.

------------------------

If you think you have the courage to get your ego out of the way and do what it takes to achieve greatness, let us know and we’ll send you information about what we have in mind and how it works. But please, don’t waste everybody’s time if you’re not serious.

If you want to join us, we need to hear from you. Vacancies come up from time to time and the group is already in operation. Not to decide is a decision. Thanks for your interest in the Mastermind Marketing Group. Please call either of us if you have questions. We look forward to taking the next steps with you.

PS #1: Part of the secret of The Silver Bullet is an inclination toward taking immediate decisive action. So you are at a crossroads. It can either be business as usual ... and you know what this is likely to bring you ... or a (slightly scary) leap into the rare air of Massive Determined Action and Mastermind Support. It is your business, your income and your life. Choose wisely!

PS #2: Once the initial Mastermind Group is filled, we will start a waiting list and add new members only as vacancies arise. We have considered starting a second group at some point, so some spots may open up when we do that, but the Mastermind will always be a very small group to permit everyone sufficient time to address their various issues in depth. In any event, future vacancies will be filled from members of the Peak Performers Group, so it will be virtually impossible to start right off in the Mastermind Group. All this is a convoluted way of saying that if you want to get into "the good stuff" without waiting, you had better make your move right now.