- Are you the type of person who has great ideas but who finds it hard to put them into practice?
- Do you lose focus easily?
- Would you like to get out more of yourself and your plans?
I do, but I also know how tough it can be to keep going, especially if you are on your own. I believe that we are capable of much more if we receive ideas, advice and support from others. And with others I don’t necessarily mean a group of friends or family but a group of likeminded people – your own Mastermind Group – with whom you have a more professional relationship.
What is a Mastermind Group?
A mastermind group is an alliance of two or more individuals who dedicate themselves to reach a specific goal. Examples of a specific goal are writing & publishing a book, launching a new business model, becoming financially free etc. Participants challenge each other to create and implement goals, brainstorm ideas, and support each other with total honesty, respect and compassion. Everybody is a catalyst for growth, a devil’s advocates and a supportive colleague at the same time.
Napoleon Hill, author of Think and Grow Rich, first defined the mastermind as a “coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”
Benefits of being part of a Mastermind Group
- You have a dedicated team around you that will help you to reach your goals.
- You get different perspectives, input and feedback.
- You have access to new resources and networks through group members.
- Inspiration and motivation.
- You will be held accountable for your promises and action points, which will keep you going.
- You will save time and energy since you don’t have to do everything yourself.
- Moreover, chances are big that you will enjoy the time spent with your Mastermind Group big time!
How to set up a Mastermind Group?
You can look for people whom you know (from your network) but also whom you don’t know (e.g. through Meetup). Mastermind Groups ideally contain between 4 to 6 people but less or more is also possible.
Before you start, it is important that you establish guidelines together with everybody for how you will operate with each other (not putting down other speakers, bringing solutions instead of problems, mutual respect, trust etc.). It is also important to determine a focus for the group and for each meeting. Discuss how you would like to benefit from each other and what you expect from each other.
How does a Mastermind Group work?
Mastermind Groups can meet in person, on the phone, through Skype, or via online message boards. It is up to the group members to decide how, where and how often they would like to meet. From my own experience I can tell that regular meetings in person (e.g. once a month) increase the commitment and trust within the group.
The agenda is also up to the group members. Each group needs to decide on accountability structure and way of working. The more honest everybody is about what works for him or her and the more responsibility everybody takes, the bigger the benefit for the group!
Who make good Mastermind Group members?
- People who have a similar interest or motivation (e.g. writing a book, launching a new business model, becoming financially free etc.).
- People who are committed to themselves, their goals but also to the group.
- People who would like to learn from and become inspired by others.
- People who are willing to share their knowledge, network and/or experience with others in order to help them reach their goals.
- People who are positive about the future.
- People from a similar success level.
- People who dare to ask for help.
This, however, does not mean, that group members should have the same knowledge and background. On the contrary! The more diverse a group is in terms of experience and expertise, the better for the group! So instead of forming a group consisting of only direct mail marketers or only credit risk managers, it is advisable to have different expertise on board.
My experience with Mastermind Groups
I have been part of a Mastermind Group since April of this year and I love it! We are 5 people from totally different backgrounds, age groups and expertise. Next to our wish and goal to become financially free, we have amongst others a big passion for food. Therefore we decided to combine the necessary with the pleasant and to have great food when we meet. Even though some of us live 160 km away from each other we meet every second week in person. Once a month we meet at home of a member who will prepare a delicious lunch for the group. During lunch we have our brainstorm or knowledge sharing session and after lunch we work for a few hours behind our laptops and help each other out with questions. In the weeks we don’t meet in person, we have conference calls through Skype.
I can really recommend everybody to find or form a Mastermind Group of your own since it is so much more effective, rewarding and fun to work on yourself and on your goals. It is like having your own group of trustees!
So if you are not yet part of a Mastermind Group, don’t be shy or proud and go and actively look for your Mastermind Group! You won’t regret it.
If you are member of a Mastermind Group already, I’d love to know how you have organized your group and what your experiences and tips are.
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