Mastery is defined formally as a “comprehensive knowledge or skill in a subject or accomplishment” (Dictionary.com, 2021).
Rembrandt is known as a great Master of art and is one of a few notable artists who have ever achieved that status based on the quality and quantity of his art. Rembrandt is also considered a Master because he taught, mentored and transformed artforms for the ages
Many of us consider ourselves proficient in many areas. Some call themselves experts and demonstrate a command and grasp in music, art, math, science, and sports, but few of us are ever considered Masters. Mastery requires a higher understanding of any discipline and takes time to acquire.
We can master business skills with intensive focus.
Success.com identifies ten key activities to achieve mastery. https://www.success.com/10-steps-to-master-anything/
- Determine the skill you want to master.
- Set specific stretch goals on your path to developing that skill.
- Attach a high level of emotion to your journey.
- Identify the factors critical to success and develop your strengths in those areas.
- Develop visualizations that clearly show what success and failure look like.
- Schedule challenging practices developed by experts.
- Measure your progress and get outside feedback.
- Socialize your learning by practicing or competing with others.
- Continually set higher goals so you keep improving.
- Teach others what you are learning.
ActionCOACH the leader in the Business Coaching industry delivers a powerful program 6 Steps to Massive Business Results. ActionCOACH identifies the first level of business success as Mastery. Without a command, without a full understanding of key areas, business owners will fail to reach their full potential.
Mastery is broken down into four separate business areas.
Destination Mastery focuses on establishing a powerful mission and vision for an organization, setting S.M.A.R.T. goals to achieve objectives and understanding the WHY a business exists and WHY one is driven to success. At this level business owners need to they can clearly articulate an inspirational and engaging vision and mission, they can proceed to Money Mastery.
Money Mastery for a business includes understanding they key attributes, triggers and contributing factors for maximizing cashflow and reducing cost of good sold. This level of mastery includes in-depth study and understanding of the following.
- Cash Management
- Financing and Lending
- Terms and Invoicing
- Accounts Payables/Receivables
- Financial Statements
- Pricing Strategies and Discounting
- Cost Controls and Cost Reduction
- Overhead Reduction and Resource Reallocation
- Sales Forecasting and Revenue Maximization
- and much more…
While most business owners will employ true expertise in these fundamental business areas, it is critical that the owners themselves understand evert area that affect results in each area.
Once a roadmap for a business destination and money mastery are in hand, an owner must shift their focus on Time Mastery. At this level, an owner must focus on planning, delegating and how much self-education and development they are committed too for long-term success.
Once destination, money and time are mastered the last level to master is Delivery. Business owners must ask…How does their organization delivery on the brand’s promise? Everything from supply lines, to delivery services to customer experience must be analyzed to ensure that at every level of your organization the focus is on maximizing satisfaction. The quality of your products and how easy you make it for customers to buy from you are all inherent in this level of mastery.
Every level of Mastery requires study, research, and practice. But to truly call yourself a business master you must also be able to share and educate others. It is through the sharing of your expertise can you ultimately call yourself a master.
After Mastery, the next step in 6 Steps to Massive Business Results explore NICHE. Stay tuned for more information.
Learn more, visit actioncoach.com.