Food For Thought

Have you ever heard of a business allowing a competitor to come into their physical plant and run their business out of the same physical plant?  Well that is exactly what Mr. Lawrence Hackney owner of the Wood Pit BBQ restaurant did.  A fellow competitor, James Turner, who owned a restaurant and catering business in Newark, New Jersey, saw his business go up in smoke as a result of a fire which started next door to his restaurant.   Mr. Turner had clients like Prudential that he had contacted to serve and no place to do business.

Mr. Tuner first found refuge in a church kitchen in Newark, but it did not have a smoker and his specialty is smoked BBQ.  In stepped a retired municipal court judge, Ernest R. Booker who frequented both BBQ restaurants.  Mr. Booker informed Mr. Hackney of the fire that Mr. Turner had experienced and wondered if he would consider helping Mr. Turner out.  Mr. Hackney reached out to Mr. Turner and said “Listen, I have a barbecue pit and two smokers. You’re welcome to smoke your meats.”  This began an unlikely pairing of two competitors working together in harmony for the better good.  You can read more  about this story at New Jersey.com

Why share this story?  To illustrate a point that we all know about but rarely see in the business world today, genuine care and concern for one another even if that person is a competitor.  As leaders in the organizations and companies which we have responsibility for leading this would be considered counter intuitive, but I would like to challenge you to look at this from a different prospective.  Not the prospective of destroying your competitor but rather partnering and growing with your competitor.

Partnering with a competitor in today’s economy will not only help save jobs and reduce unemployment but it also says something about you as an individual and the mission of your company.  Having more competition in the market place makes our economy stronger and will ultimately result in a wider variety of products going to market.  I believe that we have to stop thinking about limitations as leaders of companies and organizations but rather look at the possibilities of alternatives never attempted before.

Following the example of The Wood Pit owner, Mr. Lawrence Hackney, we all would benefit if businesses looked for opportunities to partner with businesses which may suffer the loss of closing down permanently.  The fact that this is not usually done, but it feels right to do is the reason that we should.  This is why my mastermind group decided to meet at The Wood Pit BBQ Restaurant.   We learned about the story from one of our members Pat Ferdinandi and thought that this would be an excellent place for us to meet.  You see in our master mind group we are all speakers so you might think that we are in competition.  This could not be further from the truth.  We share information with each other in an effort to make us better in our own speaking businesses.

This may sound counter intuitive, but it really is not.  We believe there are a number of clients who can benefit from our individual services and topics.  We improve individually by providing the best information in our own unique styles to our clients.  So we are not really in competition, because we are all individuals with our own unique way of presenting.    The advantage of sharing information allows us to reduce our learning curve through our own unique experiences that we openly share with each other.  This is the same thing that Mr. Hackney did with Mr. Turner.

I would like to leave you with this food for thought.  What kind of city state or country would we have if every business realized that they would benefit from a collaborative working relationship with potentially faltering competitors?  Just take a moment to think about this question.  If you live anywhere near Montclair, NJ I would urge you to visit The Wood Pit BBQ Restaurant.   It is worth the trip, some of the best BBQ I have ever had, and the sauce is out of this world.  Besides, a leader who willingly would help competitor in the same line of business is running a business that we all should support.

Do You Have A Mastermind Group

Do you have a mastermind group?  Not sure what it is? A master mind is a group of like minded individuals who share common interest.  They are willing to meet with each other on a regular basis and assist in supporting and holding each other accountable to reaching their goals.

The best thing is this can be a focused, high energy group that can provide insight that any one individual would not be able to obtain if they were just brain storming alone.  Having other people who share the same interest provides synergy and helps everyone benefit from various points of view on the same topic.

I am a member of a master mind group of speakers who are looking at expanding their impact in the various markets they speak.  We share a number of things in common, we are members of Toastmaster International, we have competed in speech competitions (even competed against one another), and we enjoy sharing information with each other.

The size of the mastermind group is important.  We started with a size of 5 and grew to 7 although we normally have around 5 people attend when we meet do to schedules and time constraints.  Our gender makeup is one female and six males.  One of the things that we enjoy is meeting over lunch and making it a working meeting.  We have selected restaurants which have free WIFI and bring our lap top computers.  This allows us to show our group members specific sites and tools on the internet we use and how they work.

Having a mastermind group is very similar to the study group I had in graduate school.  We want to ensure that the group is successful because our personal success is tied to the group.  We find that each of us has an area of expertise that we have to offer the group and benefit from the open sharing of this information.

Do you need a mastermind group? Only if you are looking to reduce your learning curve by leveraging the knowledge of like minded individuals who are focused on being successful.  And the best thing about the development of a mastermind group is that it is free.  Our payment to each other is our time and open sharing of information.  We like to meet over food because it allows us to develop our relationship with each other and make the work that we do together more enjoyable.

The most important part of development of a mastermind group is the outlook of the members.  Everyone must agree to respect each other’s opinion and be open to comments made by others.  Just like in the development of any group you may experience the various stages of forming, storming, norming and then performing.  If the group members are selected correctly the storming stage should be minimized by the desire for the group to be successful.  It is the need for the mutual exchange of ideas that drives the group.

If you are looking to reduce your errors, help others, open to new ideas, and have a true desire for success then a master mind group is for you.  I encourage you to find out more about it. Start a small group and meet.  If you have a question about how to start a mastermind group please feel free to contact me.  I would be happy to help you.