This year’s Maui Mastermind Wealth Summit was amazing. Feedback from participants (including several 3 and 4-time participants) called it the “Best Maui Ever!”
I wanted to share my personal top three lessons from Maui with you in the hopes that my insights will spark you to new thoughts about building your business and your wealth.
My Top 3 Lessons from Maui 2009
One: As your business approaches or reaches Level Three, shift to building your business to fit your lifestyle.
We all recognize that in the early stages of launching and building a business it requires a lot of care and attention and energy. It’s like a child in a certain way.
But as you grow your business to the point where it is an established success, make sure you shift your focus to having your business fit your lifestyle, not letting habit dictate that you fit your lifestyle to fit your business’s needs.
I had a great conversation during one of our lunches at Maui about this with a couple who had spent the prior several years building a very successful Level Three business. Their business was generating several million dollars net profit each year, but they still found themselves doing the business like they always had – focused and hard working. But they had reached a point where they could change.
The results? I talked with Rob 2 weeks after Maui and he and his wife had already planned out how they were going to reduce their working hours in HALF immediately.
So many entrepreneurs succeed, but forget to transition to enjoy and savor the success they had worked so hard for by making their business fit their lifestyle, not the other way around.
Two: There is no shortage of opportunity or good ideas in the world: the only things that hurts people is a lack of focused, expert feedback.
The week was filled with so many brainstorming, masterminding, and small group sessions where I saw a host of new business ideas.
The biggest thing I saw was how when you took your business idea and got feedback from experienced entrepreneurs who had done it themselves time and time again, that these ideas had a power that was so much more than the isolated initial idea.
For example, take Tom, an attorney who participated in Maui has a huge development project that he is working on (a $500 million development project near Branson, MO). Bill Shopoff (Maui Advisor; www.Shopoff.com) gave Tom a powerful funding strategy that was such an improvement to what Tom’s original founding idea was that it might very well make the difference between success and failure.
For Bill the idea only took 2 minutes to share… two minutes and 20 years that is. Two minutes to tell Tom, but 20 years of experience to learn the idea to begin with.
Don’t go off and do your business in isolation. Get your advisor team together and leverage their strengths to your passion and drive. The combination is unstoppable.