Highly successful entrepreneurs understand the value and importance of investing in their future growth and profitability.

I believe in every situation there is the “current” you (and your business) and there is the “future” you and business you want – your Dream Business. The fastest way to go from your current situation to your Dream Business is to buy speed. That’s right – you can buy speed, or the proper terminology would be you can “invest” in speed.

If you want to get somewhere faster, ask someone who has made the journey before you for the best route! I’m not at all a fan of reinventing the wheel, and my ego is such that I don’t care who gets the credit for the idea or roadmap as long as I get where I want to go faster.

There are many places in your business where investing comes into play, but no area is more important than in coaching or masterminding.

Whenever I’m speaking to entrepreneurs and mention masterminding, I get sometimes get questions about accountability groups and how they differ or are similar to a mastermind group.

To be blunt, most accountability groups are “feel good” sessions. I understand the need for them. Bill Glazer, the past president of Glazer Kennedy Insider’s Circle and one helluva a marketer, once said that being an entrepreneur is the loneliest job on the planet. Bill is correct; it is lonely, and that’s one of the reasons that entrepreneurs like to be part of various groups.

But there is a major difference between being in an accountability group and being in a paid mastermind group. One of the big differences between investing in a coach or mastermind group versus your no-cost accountability groups or non-paid mastermind groups is that paid mastermind groups are run or led by an experienced coach. Successful entrepreneurs/coaches will (or they should!) “get in your face” and occasionally deliver what I call “tough love.”

By and large, accountability groups are feel good sessions whereas investing in the right business coach will accelerate your growth. You’ll feel tough love, but you will ultimately feel good about your success. Invest with the right coach or mastermind and you are purchasing speed.