Entrepreneurs Need a Mastermind
What exactly is a mastermind group? A mastermind group is a place to learn, teach, receive and give support, and brainstorm. The members of the group also provide accountability to each other. They often have weekly or monthly meetings.
A mastermind group might be industry specific or diverse to draw wisdom across multiple business models. Either way, a mastermind can supercharge your business success.
Mastermind groups are not a new concept; they were originally made popular through
Napoleon Hill, the author of Think and Grow Rich. The Mastermind concept was inspired by Hill’s many conversations with the highly successful businessman, Andrew Carnegie, who attributed his entire fortune and success to his Mastermind group. Jim Rohn once said, “You are the average of the five people you spend the most time with”. Who you spend your time with influences the person that you will eventually become. The same applies to your business, as well.
What to expect in a 90 Min Mastermind Session?
- Check-in. Discuss a business highlight or win you’ve had in the last 30 days?
- Accountability. Identify what is the most important steps in growing your business and build a strategy to accomplish these milestones. Regular check in on the progress of your goals. Did you do what you said you were going to do at the last session? Are you ahead, behind, or on pace with your number one strategic priority? Success is built on the follow up and follow through…
- Perspective. What progress do you need to make on your strategic priority in the next 30 days? What has to happen for that progress to occur? Do you have any blocks? How to overcome your own blocks and see how to safeguard your business from the pitfalls that others are experiencing. A wise man learns from his own mistakes, but a genius learns from the mistakes of others.
- Action items. Reverse engineer the process of success. Based on the perspective you received today, what are you going to do and when will you get it done by?
- Content. Value. Value. Value. Information and insights to make your business(es) better, faster, and more efficient.
Consider these benefits of a mastermind group:
- New ideas. Two heads are better than one. Ten heads can be even better. If you need help finding a solution to a challenge, a mastermind group can be a great help.
● You can also learn from each other. Everyone in the group has something to teach the other members.
● Focus on quality over quantity. Seek a high-quality group with high-quality members.
- Support. Do you need emotional support or encouragement? Do you need an expert to help you with something? A mastermind group can provide that, too.
- Access to new partners. Maybe you need a business partner or a loan. Mastermind groups often have members that are looking for opportunities.
- Social circle of like-minded people. Many of your mastermind group’s members will be just like you. You all have a lot in common. You can add significantly to your social circle by joining a group.
- A new level of thinking. A mastermind group can expose you to others that have achieved much more than you have. All of a sudden, your goals might seem a little small and conservative. You will strive for greater levels of success when you are part of a mastermind group.
- Accountability. Everyone in the group knows what you’re working on. They’ll hold you to your plans. More importantly, you will hold yourself to higher standards.
There are many mastermind groups already in existence, but it is important to find the right group for you. Take a look around and find the group that meets your needs. Mastermind groups are often hosted by a Mastermind coach or facilitator, and there is usually a cost to join—which is not a bad thing. When there is skin in the game, you are more likely to show up for yourself and your business. After all, “there’s a difference between interest and commitment. When you are interested in doing something, you do it only when circumstances permit. When you are committed to something, you accept no excuses, only results.” Art Turock
Once you establish that level of commitment, A mastermind group can greatly speed up your progress, regardless of your stage in life or business. Get started with one today!
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