Jim Ackerman, President of Ascend Marketing, Inc., gives new meaning to the phrase, “put your money where your mouth is”. Learn how his mastermind group has raised the stakes to hold its members accountable.
Accountability Is Key
Our long-time Mastermind Group operates on the premise that it MUST produce progress. So we hold each other accountable like this…
Late to a meeting = $10 fine
Failure to submit monthly goals = $10 fine
Failure to submit a quarterly goal = $10 fine
Failure to accomplish monthly goals = $10 fine for each goal missed
Failure to accomplish quarterly goals = $25 fine for each goal missed
Our group meets once a month and includes local participants as well as some from out-of-state, who call in on speakerphone or Skype.
The system makes you choose your goals carefully. It also makes you commit to accomplishing those goals.
Once or twice a year we all get together for a dinner or other activity, financed by fine money. (We eat well.)
The system also makes you choose your fellow members carefully. Our group has a maximum of 8 participants at any given time. We choose carefully who we invite, looking for candidates with complimentary skills who bring something unique to the table, and who will make both the commitment and a contribution. Candidates are vetted and voted on before an invitation is issued.
The system has been incredibly powerful for all of us.
How do you hold each other accountable in your mastermind group?