What is a mastermind group? The concept was introduced by Napolean Hill in his 1930s book, “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 [the master mind].” (Source: SuccessAlliance.com) It is basically that concept that 2 heads (or in this case 4-6 heads) are better than 1!
My mastermind groups are a group of 6 women who meet twice a month. At these meetings, each member has the floor for 10 minutes to provide an update on their business and pose questions to the group or get thoughts and feedback from the group. At the end of the session, each member commits to a few items that they will be accountable for by the time the next meeting roles around. Each group is moderated by me to ensure that the group stays on track and as a result, participants also benefit from my personalized coaching and mentoring. I am offering these groups both locally and virtually and the next round launches in September!
In the entrepreneur world, most successful online and small business gurus credit masterminds with helping them to propel their business. Why? Here are three powerful ways you can benefit from being part of a mastermind group:
1.) Sounding Board For Ideas
Many of us solopreneurs work in a vacuum, developing ideas and executing with no real feedback from the outside world. At times that can be productive but other times that can be detrimental. Being a part of a mastermind, you have a built in advisory board to bounce ideas off of. You can get feedback, pose questions, and hear outside opinions.
2.) Gain Unique & Different Perspectives
One of the best parts of being part of a mastermind group is the fact that you have 5 fellow entrepreneurs who ideally have compatible and complimentary strengths/experiences but also bring different and unique skills to the table. Not only can you bounce ideas of one another but you can get entirely unique and different perspectives on whatever challenges you are facing or programs you are working on. Someone in your group may have a strong marketing background or have faced the same customer issue that you are facing – you will directly benefit from others’ experiences and expertise.
One of the best parts of being in a mastermind group is it forces you to remain accountable to yourself and your group. Ideally you leave the group each month or week with action items or goals that you will accomplish before your next meeting. Verbally stating these items and committing to your group helps you to stay on task and ideally motivates you to crush your goals and to do list.
My next groups launch in September, commit by August 20th to join my next in-person or virtual group!