Join James and Megan as they continue the show theme of Support. On the last episode, they discussed accountability partners. But another form of accountability can come from joining a group of like-minded business people with diverse backgrounds and experience.
Our topic today: Mastermind Groups!
Why join a Mastermind Group?:
- There is great power in connecting with other professionals. We all have unique experiences and talents. We all have things we’ve accomplished and things we struggle with.
- A Mastermind allows you to connect with people so you can share your successes and learn from what others have been through.
- By developing these deep relationships, you have a collection of trusted resources when you face an issue or begin a new initiative in your business. Tap into the wisdom of the group to accelerate your journey and improve your chances of success.
- This is the ultimate in networking.
What does a Mastermind Group do?:
- Mastermind Groups come in many different formats. Some are large, with dozens of members, while others are small with only a few.
- Some meet locally, while others are spread across the world. Even the distributed groups tend to meet in person occasionally.
- Most distributed groups will have online communities to share information, as well as regular group calls. Many will also feature topical presentations from the leadership and other members.
- Most masterminds will have a leadership team, and many have a membership fee (one time or recurring). Paying to join a group has the advantage of helping ensure people are serious and engaged.
- Smaller sub-groups may form to do accountability or to focus on specific topics.
- All members are expected to contribute to the group by sharing their knowledge and time with the group as a whole or individual members. Don’t be a lurker or a leech!
How can you join or start a Mastermind Group?:
- Many business leaders will run Masterminds, because they want and value the connection with others. Even the leaders are expected to be active and engaged participants. Who do you follow that may already have a Mastermind?
- If you want to start one, decide on the purpose of the group. What kind of people do you want to have as part of the group? Do they need to have specific types of businesses, backgrounds, or income levels? Will the group be free or paid, and if paid, how will the money be used?
- Many masterminds use the funds collectively to purchase group resources like books and to fund meetings or events. Others are for-profit ventures, which is great. Just be sure the value is there if members are paying.
- Decide if a Mastermind is right for you right now. Know what you have to offer and what you want to gain from joining.
- Search for a Mastermind Group to join or begin the research to start your own.