The wealthiest people in the world belong to a collaborative group of like-minded, complementary professionals in pursuit of the same end objectives in their respective industries. You should be doing the same thing in your law firm.

After studying the successes of other great business leaders in the 19th and 20th centuries, Napoleon Hill concluded in Think and Grow Rich

Analyze the record of any man who has accumulated a great fortune, and many of those who have accumulated modest fortunes, and you will find that they have either consciously or unconsciously employed the “Master Mind Principle.”

Today, we call this a mastermind group.

Maybe you have heard about it and brushed it aside, thinking it would not have any real impact on the success of your law firm. You could not be more mistaken. If you are not using the mastermind principle in your business, you are spending far more money and time building your business than you need to be.

Consider the following:

  1. A local marketing mastermind collaborative is a group of complementary professionals who serve the same group of people in the same community (i.e., parents with small children in Silver Springs, MD, small business owners in Orange County, CA, or people gearing up for retirement in Hermosa Beach, CA, etc.).
  2. Ideally, the mastermind group is made up of 4 to 12 members, depending on the nature of the group. It is called a “mastermind” because everyone brings their own unique genius to collaborate on a strategic, streamlined, automated marketing plan that is far more comprehensive with less effort than anything you could do yourself.
  3. The end result of a successful local marketing mastermind collaborative group is an increase in clients and a decrease in marketing costs (and time!) for your law firm. Your collaborative splits the investment and creation of joint campaigns, and everyone reaps the rewards.
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