Do you ever feel like you’re working in a vacuum? Are you alone, unsupported, lacking resources, and frustrated with your results? Would having a little more confidence, fresh perspective from a positive team, a push forward when you’re stuck, and confidential support help you in launching your business?
That’s exactly where I was a six months ago. Making a decision to go new directions in my business felt overwhelming. I was extremely excited, but the sheer amount of work, mixed with distractions and doubts, left me wondering if I was on the right track. Then, I found the keys to unlock my business potential. First, I found mentors, and, secondly, I joined a mastermind.
The results have been measurable and the synergy and dynamics of the group have produced momentum for all of us. It’s been a delight to watch my Mastermind team members implement and launch their businesses and marketing funnels. And I’m getting amazing benefits as well.
What is a Mastermind Group?
- First, it’s a place where like-minded, committed people come together for a designated time on a regular basis. (We meet via Skype for 60-70 minutes every week, since we’re spread out from the USA to the west coast of Australia.) Groups can meet monthly, bi-weekly, or weekly for up to 90 minutes.
- A Mastermind is limited in size to optimize engagement and effectiveness. Ideally, no less than 3 and no more than 8 members allows everyone the time to share, but produces enough synergy to create results.
- A Mastermind provides a safe environment to bring your ideas, questions, and what’s working and not working in your business, knowing that it’s shared in confidentiality and non-judgement.
- Masterminding produces a synergy of ideas and resources through collaboration and support, both individually and as a group. It’s often referred to as a “third mind” that comes out of collective interaction.
- Accountability from a Mastermind group propels each member forward in their business momentum at a faster rate than if that person were on their own.
- A Mastermind helps members find the answers to obstacles they encounter with objective and honest questions, discussion, and feedback.
- Masterminding develops more confidence in individual members through offering sincere encouragement and caring about their success.
- Masterminding values the individual member’s strengths, goals, and intentions while participating in shared goals for the group as a whole. In other words a win/win for everyone!
- Masterminding often produces the results and benefits found in personal coaching without the expense. It’s also a great adjuvant to paid mentoring and coaching to give the extra support while implementing plans.
- An effective Mastermind will have clear objectives that have been determined by shared collaboration. (We created a Mindmap to help us determine our objectives.)
- A Mastermind should be fun and energetic, with good facilitators to keep us focused on the objectives, but without a set “leader” who has his/her own agenda and doesn’t allow interaction and participation by every member. If needed, any member of the Mastermind could facilitate.
What Masterminding is not.
- It’s not “group therapy” or a place to bring your emotional problems for healing.
- Its purpose is not to “network” although shared resources and collaboration do take place and JV (Joint Venture) partnerships are frequently formed in Masterminds.
- It’s not as much about “brainstorming”, but goes beyond that to tap into the wisdom of the collective group.
- A Mastermind is not a place for the half committed. The benefits of a Mastermind come from the trust and energy that comes from regular and committed participation.
Masterminds are not forever.
They typically have a specific purpose and time frame. It’s better to end a Mastermind once those objectives have been reached rather than allowing it to die a slow death due to the changed commitments and direction of its members. Reevaluate the objectives and commitment of group members every 3-6 months. Some may wish to leave and others could potentially join…or a new Mastermind could develop.
Not every Mastermind Group is a success.
That’s okay. Don’t quit participating because your first few attempts have failed. Give it all you’ve got, and if it isn’t working out find another or start a Mastermind Group of your own.
There is no need to do business on your own. Everyone does better when they have a supportive team to encourage and push them to success. Masterminding can be the secret key that gives you the competitive edge and energy to propel you forward in quantum leaps. It’s a great way to leverage your time and resources and is the perfect fit for those who want to build their business by design.
Are you part of a Mastermind? What has it done for your business?
Have you had challenges in finding or developing a Mastermind?
Please share your stories!