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The Power of the Mastermind, Part 5: Accountability

By Tom OlsonAugust 20, 2019

This is Part 5 of a five-part series on the Power of the Mastermind. If you have not yet read Part 4, you can do so here.

This is the final article in my five-article series on the power of the mastermind, and I hope you have been able to read the previous four. If not, I recommend you do so right away. To quickly summarize, however: each article focused on one specific power that a mastermind brings to its members. We have talked about focus, million-dollar ideas, important hindsight and warnings, your network, and, now, number five, accountability.

Good Success Requires Accountability

When I started the Good Success Mastermind, I did it because I wanted to create a mastermind specifically for purpose-driven entrepreneurs that wanted to make a difference. I wanted to bring together people willing to use what they have to help their communities. I was so sick and tired of going to masterminds where people just sort of stood up, thumped their chests, and said how awesome they were doing. I tried seminars, but a lot of that is hearing about new programs or products, not working together.

I wanted to help entrepreneurs have a purpose in life and even change direction by figuring out where they are currently and how to get to where they want to go. That is Good Success, and that is why I started the Good Success Mastermind which, by the way, is by application only. You can apply at GoodSuccess.com.

“But Tom, what does that have to do with accountability?” you may be thinking. Well, here is what I experienced in other masterminds: Each quarter, we would all show up and tell people what we were going to do by the next meeting. Then, most people would not get it done and no one ever called them out on it. That is not why you join a mastermind! You join so you achieve greater things. You cannot achieve those things without accountability.

How Truly Effective Accountability Works

Let me tell you something about the Good Success Mastermind and accountability. When you stand in front of a bunch of super-successful entrepreneurs and you say, “I am going to get this important thing done by the next time we meet,” you do not want to let them down.

Why? Well, because if you do not get that thing done, they are going to demand you explain in detail. They are going to say, “Hey, why didn’t that thing get done? Why didn’t you hire a salesperson? Why didn’t you put that system into place? What happened that you didn’t sell the six houses you said you wanted to sell? The market is fine! What happened?”

They will not let you get away with anything. If you want truly Good Success, you have to be willing to be vulnerable enough to let people ask those questions. You have to be willing to be in a position where someone else can hold you accountable. You need that little bit of healthy fear that reminds you, “Hey, if you don’t do this, you are not going to live up to what you said you were going to do.”

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Accountability is Personal & Professional

I will give you an example of accountability in our Good Success Mastermind that will show you how that vulnerability works for the good of your business as well as your personal life, such as your health. We had a member in our mastermind who was nearly 400 pounds, and he was having a lot of trouble as s result. He had trouble getting on an airplane. Trouble breathing. Other problems that affected him personally and professionally.

He told us about his goal to get healthy and he ultimately put the whole journey on social media to help himself stay accountable. He came to the next mastermind stronger than ever, and it showed in his life and business because he had held himself accountable. That accountability is what drove him to finally get healthy the way he knew he needed to.

It is the same thing with my personal passion, to flip the city of Gary, Indiana. I’ve had people say that is just my gimmick or that I don’t mean it, but we are using real estate to have a positive impact in this town. We are bringing investments to the community to help citizens, give the community a better lifestyle, clean up neighborhoods, and improve home values. I put that out there because I want people to question what I’m doing and hold me accountable for actually #flippinggary.

What Are You Doing to Hold Yourself Accountable?

I believe that accountability is the highest power of the mastermind, which is why I saved it for last. If you do not have someone else holding you accountable, you must find someone. You can turn to Good Success or another mastermind. You can ask your parents, your teachers, a coach, or someone else, but you have to be accountable to someone other than yourself. You will never be as successful alone as you will if you have someone to hold you accountable.

I encourage you to find the right mastermind for you. It is an investment of Time, Talent, and Money, but once you make the investment your life and business will never be the same again! For information about the Good Success Mastermind and to see if you may be a good fit for the nation’s elite, purpose-driven business mastermind go to GoodSuccess.com/mastermind.

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