If you’ve been in business for a little while you may have heard the term ‘mastermind’ a few times. It’s one of those terms that gets thrown around quite a bit and for good reason. If you’re wondering what a mastermind is and why you should be interested in one, here’s an explanation:
What is a mastermind?
A mastermind is a group of individuals who meet on a regular basis (this could be either in-person or virtually) to collaborate and mentor each other to work on their individual goals and hold each other accountable. Many successful entrepreneurs today, from Natalie MacNeil to Amy Porterfield, use masterminds to help grow their business and work on their personal development.
According to motivational speaker Jim Rohn, we are the average of the five people we spend the most time with, so it makes sense to surround ourselves with successful and ambitious entrepreneurs. A mastermind can offer this, providing you’re in the right one.
So, why should you join a mastermind?
This is what I get out of my mastermind (and many masterminds I’ve been in previously):
The group that I am in meets every fortnight via zoom, plus we have a Facebook group where we are in daily contact. My fellow masterminders encourage me and each other, keep me going when I’m going through some challenging times, plus it’s also a place where we brainstorm and get questions answered and offer solutions to problems.
Every time we meet with my mastermind, someone is blown away by the quality of help and solutions they receive to their problems. It never ceases to amaze me how creative we can get, as a group, to tackle someone’s issues in that meeting.
Sometimes we write down our goals only to forget about them and find them at the end of the year, untouched. I’ve been there too and I was always upset about not reaching my goals so with the help of my mastermind I actually complete things because they hold me accountable. At the end of each meeting I have an action plan, with objectives I need to meet before the next meeting. Being held accountable by your masterminders ensures you maintain the discipline necessary to succeed in your business.
Sometimes I have ideas but I’m not entirely sure if I should move ahead with them and I want to run them by someone. My mastermind is always there for me, they give me honest feedback on my ideas or any other part of my business I want feedback on. In a mastermind group we all have the same goal – to help each other grow their business. There is no hidden agenda – everyone is on the same side.
I’ve always been part of bigger programs, sometimes next to being in a mastermind and whilst I love having access to the resources in bigger programs and making connections with lots of people, I prefer to discuss some things with a smaller group. A mastermind group gives me the option to receive feedback on confidential issues or things I’d rather not share or get feedback on in a big group.
Brainstorming new ideas and getting feedback on things I’m working on helps me stay on track, focused and gives me confidence. Often I’m not sure on an idea or direction I want to take, for example ‘should I write about a certain topic’ or ‘what about starting a mastermind’ and my peers help me make decisions that feel good, but also fit in with my overall goals for the year. It’s great to have a group that helps you stay focused, but also challenges you to think bigger and encourages certain actions.
Business success largely depends on relationships.
There are a few lone, amazing entrepreneurs out there, but most successful entrepreneurs would agree, relationships with others and accountability have played a key role in getting them to where they are. It’s definitely true for me.
Are you a solo-preneur working from home and longing for connection with other like minded people?
If you need that loving kick up the butt regularly to keep you accountable and ticking off your to-do list, I welcome you to check out my mastermind.