Whether it’s 12 Step Programs, Weight Watchers or Jenny Craig, the power to achieve in a group, what is difficult to accomplish individually, is impossible to deny. This is the principle of a Mastermind Group and successful Conscious Entrepreneurs know that they are essential to turbo charge business growth and profitability. Here are some successful stories of entrepreneurs, to help you get an idea on how to be come a successful entrepreneur.
Mastermind Groups create a synergy of energy, commitment and excitement. The beauty of Mastermind Groups is that participants raise the bar by helping each other implement goals, brainstorm ideas, create solutions, and offer mutual support. On this call with Karyn Greenstreet, we explore how Mastermind Groups enhance your business and your life. while creating personal and professional evolution.
What is a Mastermind Group
The idea of a Mastermind Group was formally introduced by Napoleon Hill in Think and Grow Rich:
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony. No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.”
In a true mastermind, everyone gets to participate at every meeting. This synergy of minds creates tremendous value for each member and helps them succeed beyond expectations. It's an environment that helps grow your business and make changes in the world.
Why Mastermind
If you are ready to make BIG changes and to move out of your comfort zone, you're in the right place! If you want to exceed your goals then a Mastermind Group is for you.
- Mastermind groups are intense and intimate. Bring your all to the party!
- Masterminds force you to have clarity. They don't let you get away with not creating the life you want.
- Masterminds help you discover your purpose and embody your legacy.
- Masterminds help you see where self sabotage is at play and how to move past it.
Your Mastermind Group will champion and support you and is guaranteed to push you to your edge.
What You Want to Know Before You Join a Group
Ok, so you're already convinced this is a strategy that will bring out your best self. I can feel your enthusiasm and excitement! But first, here are some things you'll want to explore before you join:
- Mastermind Members. How many people are in the group? Five to eight people is ideal. This gives everyone an opportunity to participate and it's small enough for deep connection and trust to occur. Are there any limitations on who can enroll in the group? Make sure your mastermind members are peers and share common goals based on what you want to change in your business.
- Mastermind Facilitator. How involved is the mastermind facilitator? Have they led other Mastermind Groups? You'll want someone who is present at each meeting and will also provide their expert feedback.
- Mastermind Format. Is it in person or virtual? Is it peer based or are you focusing on a specific topic? When and where are the meetings? Is there a cost, or is it free? Paid masterminds tend to attract more committed members. Free masterminds tend to be more casual. You want to make sure that the privacy policy ensures nondisclosure, too.
Although there is no Mastermind Group police, you do want to participate in a group that fits you and meets your needs.
Three Places to Find a Mastermind Group
Finding a group is easier than you think. Here are three spots to start with: (1) Your favorite guru or mentor. Check and see if they run a mastermind group. Chances are that many of their best clients will take advantage of it. (2) Check out your local MeetUp Groups. Under topic of interest type in ‘mastermind group' and then enter your zip code. (3) Check out available Mastermind Groups at The Success Alliance listing.
If you can't find a local group, don't be resistant to a phone-based mastermind group. They are extremely powerful and effective.
[Tip for Coaches & Trainers: Leverage the built in connection and trust after you've completed a training program and launch a follow-up Mastermind Group for participants to implement the training.]
Ready to Start Your Own Mastermind?
First decide whether you'll be facilitating, participating or both. Give some thought to the kinds of people, and the qualities you're wanting to bring in like positive, creative, detail oriented. You might want to ask potential members to take the Myers-Briggs assessment. Then you'll have a better understanding of the types you'll want to include: the dreamer and the implementer, the visionary and the strategist.
Come up with an agenda for your meeting. Set the ground rules. Decide how you will handle problems like lateness, no participation, or hogging the limelight. Determine whether you'll focus on business topics, or if personal topics are ok.
As the leader, create the agenda and let it run for a few meetings. Remember that a mastermind is a democracy. Check in with your Mastermind Group members and ask, “Is this format working for you, or do we need to adjust?”
For your first meeting try this Agenda:
- Share member wins. Start off with a lightning round of sharing success stories. Make them 1-3 liners of a personal or business success since the last meeting. In this context, Success is what you say it is. It sets the tone for the meeting and makes it all about creating positive change in your life.
- Share progress. Share goals set at the last meeting and report on their progress.
- Hot Seats. Every member gets 10 minutes (or whatever time you decide) where they get to bring a problem they have, a decision they need to make, or ideas they need to generate.
- Set new goal. Pick an action item, for what member will do by the next meeting.
- Share a resource. This is where the collective group experience is priceless. Whether it's a referral for a web designer or a cool technical tool that will leverage your time, share resources that would be helpful to the group.
- Close the meeting with a reminder for the next meeting.
You can get as creative as you like with the agenda, just make sure you have a structure. Don't wing it, or folks will walk away without having their needs met. Mastermind Groups are a powerful model to fast track your personal and professional evolution. It's a high-vibing environment that creates awareness and a-ha's and will propel you into action. Check out Karyn's training, Start a Mastermind Group Today, which begins on Tuesday, July 26th.
Karyn Greenstreet is the President of Passion For Business and The Success Alliance. She is an internationally-known speaker, author, and self-employment expert who has taught business and personal development topics to over 250,000 people worldwide. She is extraordinarily passionate about helping self-employed people to create the life and business they want.
