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Mastermind Groups Should Be in Your Success Toolbox!
I often recommend that small business owners and entrepreneurs have three key tools in their "success toolbox": a coach, a mentor and a mastermind group. I've covered coaching and mentoring in another article and on my web site. Let's explore the role of mastermind groups in helping you to set and achieve your goals.
Mastermind groups are small (6-8 people) and made up of peers and colleagues who are on a similar path as you. Most groups are not local because this helps you avoid the potential issue of working on ideas with competitors. So instead, groups meet by phone for an hour or 90 minutes monthly to do goal-setting, brainstorming and to review action steps.
Mastermind group members should be working in a similar role (entrepreneurs, online marketers, freelance writers, etc.). This allows for an effective exchange of ideas and information that everyone can contribute to. They should also be of an equal experience level to prevent experienced members from feeling there is no value in the group and less experienced members from feeling lost or intimidated.
Mastermind group members must be able to keep their commitment to the group! This is crucial. They should also respect the other members' privacy and be prepared to commit to an ongoing appointment for group meetings and value that time. To hold members accountable to keeping appointments, some groups charge a fee.
When joining a group, inquire about the facilitator. This person's primary role is to ensure conversation continues, stays on track and everyone gets involved. The facilitator is not a teacher and should not be doing coaching. They can certainly offer opinions if asked, but that is not their primary purpose in the group. It helps to have someone who is trained in group dynamics and/or has facilitated before.
Part of the early purpose of working with a mastermind group is to determine your personal value system. This is the foundation on which your goals are built. Your value system is made up of the "must haves" in your life, and that of your family's. It may be more money, but it may be more time. It is different for everyone. The other members have to understand your values to help you make sure your values and goals are not conflicting.
After value systems have been defined, mastermind groups should begin setting their individual goals. It is crucial that group members are capable of BIG dreams, bigger than they've had in the past and dare to say them out loud! Goals should be actionable with target dates that are short-term. They must mesh with values. The group will hold members accountable who's action steps and goals routinely go unmet and ask them if this is truly something they want.
When you gather a group of driven, engaged individuals you have access to more resources, ideas and contacts than you would on your own. This is the hidden power of joining a mastermind group! They also help you identify, and remove, stumbling blocks you might have missed on your own.
Mastermind groups are a key component to radically increasing success, as YOU define it!
About the Author With 30 years of consulting experience, Steven Schlagel provides training and coaching for startups, entrepreneurs and small business owners. Check his site for more articles to increase your success!
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