In celebration of National Small Business Week (May 12th-16th) we sat down with five members to hear about their story, passions, impact, and businesses. The third member featured in our interview series is Barbara Eldridge, President & Founder of Mind Masters. Barbara started her business over twenty two years ago and has been an active Hera Hub member for nearly a year and a half. Barbara, is one of twenty recipients of San Diego Metro Magazine’s prestigious award, Women Who Impact San Diego, and will be featured in the magazine’s May issue.
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What was the inspiration behind your business?
When I owned my first business I experienced the need to have the same benefit of support that large company CEO’s had of discovering what works (and what doesn’t) from one’s peers, leveraging the skills and education of others, and having the kind of connection time with other business owners as a way to leap forward in my thinking and results. I founded MIND MASTERS because all small business owners, working alone, need a sounding board, a forum, a resource for their ideas. I wanted MIND MASTERS to become their Advisory Board – a resource often not available by virtue of the fact that these are indeed ‘very small businesses’.
How has your professional background prepared you for entrepreneurship/your small business?
My experience in marketing, leadership and management positions with nationally recognized multi-million dollar companies inspired me to look into being in business for myself. I purchased a distributorship with Success Motivation Institute that enabled me to market training programs in planning and management to hundreds of small business professionals. I became a member of SMI’s elite President’s Honor Club, which recognized excellence in sales and client service development. As a business owner experiencing the challenges others face in an ever-changing market place gave me the desire and experience to start Mind Masters.
What is the most rewarding part of owning your own business?
As I facilitate the dynamic, powerful resource of business owners who meet to challenge and support the accomplishment of each other’s personal, professional and financial goals, they challenge me to learn and grow along with them. They embody the qualities that make the extra ordinary possible for all of us.
What is the greatest challenge?
Staying up with all the technology so I can encourage and introduce new ideas to my groups of business owners.
What is your life’s greatest passion? Purpose? How does your business align/support this mission?
My personal purpose is to continually maximize my own untapped potential for concentration, creativity and learning and in the process help others to do the same. The mission of Mind Masters is to provide a system that encourages, challenges and stimulates personal, professional and financial growth and supports the changes necessary for success.
What about your business are most proud of?
Over the last 22 years I have facilitated the growth and development of over a thousand small and micro/entrepreneurial businesses. The Mind Masters program has stood the test of time with entrepreneurs around San Diego County with a client retention level each year of over 85%, business owners stay involved an average of 2 to 5 years. While most business failures happen within the first 3 years, my clients, active and inactive, are still in business AFTER 5 years or more successfully. As first year clients, 80% of the businesses see a 25-35% increase in sales directly related to the Mind Masters program.
What is your business’ future?
In conjunction with a non for profit organization focused on programs for returning Veterans, we have introduced a “Mind Masters” type program to support Vets who want to enter entrepreneurship. Everything being proposed by other programs emphasize jobs. The Veteran Entrepreneurs Today program is reaching out to those who want the freedom of business ownership. Our first program is scheduled for July.
Learn more about MIND MASTERS by clicking here, also feel free to give MIND MASTERS a ‘like’ on their Facebook page.
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Barbara Eldridge’s interview is part of Hera Hub’s Small Business Week Feature. San Diego is home to some incredible small businesses and we are proud to say that many of them are Hera Hub members.
