GLOSSARY
1-3-5 GPS: A one-page business plan that defines your 1 primary goal, 3 priorities to make the goal happen, and the 5 steps within each priority.
25 in 5: Growing a chapter from 15 to 25 during the 5 week launch phase.
45 Day Game Plan: Sponsor 3 other people into Master Networks and watch all the orientation videos in Master Networks University in your first 45 days, and you’ll receive $300!
Affiliate Rewards: Our national revenue sharing program where members are rewarded for sponsoring others into Master Networks.
Agenda: The tool used to run a Master Networks chapter meeting. Found in the Hub under Resources>Monthly Meeting Resources.
Ambassador: A volunteer position where the person agrees to assist the regional partner in leading growth in a region.
Application Fee: There is a non-refundable, one time application fee of $200.
Area: A designated geographical area for which an Area Director is responsible.
Area Director: A paid position within Master Networks where the person assists in growth, running, and launching new chapters within a region.
B.O.N.D.: The acronym by which we build long term, trusted relationships and network effectively; Build on Common Interest, Occupation Exploration, Needs Discovery, Develop Opportunity
Brilliant in the Basics: 10 statements of excellence for Master Networks members and HQ.
Chapter: 15 or more members of Master Networks who meet weekly and run the Master Networks agenda.
Chapter Forming: A group fewer than 15 that are working towards being a fully launched chapter.
Chapter Launch: Once a chapter forming reaches 15 members, they may be granted permission to officially launch.
Chapter Leadership: There are many positions of leadership available within a chapter. The main positions are President, Vice President, and Secretary.
Chapter Meeting: A chapter meeting is an hour-long weekly meeting of local Master Networkers. It starts on time and ends on time. In those meetings, we participate in a rotating agenda that focuses on training, business showcases by various chapter members, and breakout training where members can talk to each other about the principles they’re learning. And as we work together in chapters, passing referrals to each other and scheduling face-to-face meetings, we B.O.N.D. and build lasting relationships of trust.
Chas Wilson: President and Founder of Master Networks.
Commitment to Culture: The Commitment to Culture is essentially an agreement by members of Master Networks to treat other members with integrity and respect
CONNECT: Our annual convention; a 3-day event with keynote and breakout speakers from around the country. CONNECT was created to help entrepreneurs network with each other, get some great personal development and business training, and come away with the tools and motivation they need to design a legacy beyond their business.
Core Group: A group of 5 or more members who are working towards building a new chapter.
Dashboard: The first thing you see when you log into the Master Networks Hub (masternetworkshub.com). You'll see menus for everything from DirecTrack to Reporting, login buttons for MNU and our store, a rotating announcement carousel, and the real-time leaderboard.
Dave Jenks: Dean of Master Networks University
Deactivation: The process of ending a membership within Master Networks. Deactivation can only be done by the person whose name is on the membership.
DirecTrack: Our national directory and the tool used to report numbers and attendance. This can be found in the Hub (masternetworkshub.com).
eWallet: The vendor used to pay out Affiliate Rewards.
Exclusivity: Each chapter is industry exclusive, meaning there will only be one of each defined vertical in that chapter.
Face to Face (or F2F): The purpose of a F2F in Master Networks is to use B.O.N.D. and develop long-term, trusted relationships.
five + one: The backbone of Master Networks is the book Five Plus One: The Entrepreneur’s Formula for Success, written by our president and co-founder, Chas Wilson.
Friend of Master Networks: There’s a membership option called Friends of Master Networks. This is for our members at-large, who travel so extensively or have other obligations that prevent them from attending chapter meetings on a regular basis. Friends of Master Networks retain all the benefits of being a member, including the database they’ve built up in our forthcoming app and collecting affiliate rewards, but are not bound to attend one chapter.
Guest: Anyone attending the chapter meeting who is not a member of that chapter.
HQ: Master Networks Headquarters
Inner Circle: The highest level of coaching available in the coaching program.
Introduction: Shorter than a sound bite; name, business, and either slogan, value proposition, or offer.
Launch Phase: Once a chapter has reached 15, it is eligible to launch. The launch phase is the first 5 meetings designed to get the chapter off to the best start
Leadership Retreat: Twice a year gathering of regional and chapter leadership from across the country.
Logo Authorization: The process by which a member may gain permission to use the Master Networks logo.
Master Chapter: A chapter containing a minimum of 25 members.
Master Networks: Master Networks is a relationship-based networking business. Members meet weekly in one-hour, high energy meetings that start on time and end on time. They receive training in business and personal development, and are given the tools they need to form long-term, trusted relationships.
Master Networks University: MNU is an extensive set of courses based on five + one: The Entrepreneur’s Formula for Success, written by our CEO, Chas Wilson. It covers all the topics of five + one, including Thinking, Targeting, Tracking, Timing, Team Building, and the master skill of B.O.N.D., as well as several other courses to help the entrepreneur make the most of their business and themselves. MNU also has training on how to run a chapter and on what it takes to fulfill a chapter leadership position.
Mastermind: A Mastermind is an exclusive 2 to 3 day seminar taught to a small group of motivated students who have gotten through the application process.
Mastery: The Mastery Program is more than a coaching program. What we discuss are principles we live by and principles that we run our businesses by. The foundation of the Mastery Program is the Five Plus One Mastery Playbook. There are also weekly calls with our head coach and assistant coaches and exclusive access to the Mastery Facebook page.
Medical Leave of Absence: An option that will allow you to suspend your membership for 30 or 60 days when dealing with medical issues for you or an immediate family member. Commonly referred to as leave of absence or LOA.
Member: A person who pays monthly or annual dues to be part of Master Networks. Memberships are owned by the person in whose name the membership is in, regardless of who pays for the membership.
Mission and Vision: We are a membership network of learning-based, service-oriented entrepreneurs and business leaders. We meet in local chapters, powered by national and regional platforms, to connect, share, and prosper.
Monthly Dues: The monthly dues for Master Networks are $75. They are paid by auto charge on a credit card provided by the member.
Now Make Good: The second book written by Master Networks president Chas Wilson.
Referral: Sharing contact information with another Master Networks member of someone you know who needs and is interested in their product or service; the referral should be expecting the person you pass the referral to to contact them.
Region: A clearly defined geographical area, usually led by a regional partner.
Regional Partner: A partner with Master Networks who is responsible for growth and management of a region.
ROI: Return on investment; calculated by take home pay earned from a referral or Master Networks relationship, not the full value of the transaction.
Showcase: A showcase is your opportunity to take ten minutes to present yourself and your business to your chapter. It should include:
Your background
Your business’ background
Success stories
Call to action
Sound bite: A sound bite is a short statement that briefly describes who you are and what you do. The information should be intriguing enough to encourage people to ask follow up questions.
Sponsor: A sponsor is the person that was most influential in a Master Networker’s decision to join Master Networks.
Stars: Affiliate stars are earned for every 4 people a member sponsors into Master Networks
The Hub: Members-only website that has all the resources a Master Networks member could need -- DirecTrack, our national directory and referral and F2F tracker; all the resources you need to participate in and run a chapter meeting; and so much more! Log in at masternetworkshub.com.
Training Tidbits: Short training used in every chapter meeting provided in the Back Office or through the Training Tidbit book.
Transfer: Changing from one chapter to another.
Transmittal: Monthly account statement detailing the income, expenses, and payments for the region.
Verticals: Narrowly defined occupations used to define exclusivity in the chapter.
Visitor: Someone not a member of Master Networks who was invited to attend a meeting.
Why Statement: Our mission is to lead a movement of learning-based, service-oriented entrepreneurs and business leaders. Our commitment is to educate, equip, and empower our members so that they are inspired to create and design a legacy beyond the business.