Category: Mastermind

A mastermind group is a group of people who meet to support one another and learn from each other. And they create better ideas and insight far superior than one person could develop on their on. Great groups include remarkable leaders who are successful and motivated. When group members meet, they work together to solve problems, offer advice and encourage one another to seek their own successes. 

How to Start a Group

If you’re interested in beginning this type of group, start the process by making a list of people who you would like in the group. Consider what you’re looking for in the group. Your list can include people who work in different career fields than you or individuals from your same industry. 

A group of people from different career specialties offer you insight about other industries while those who work in the same industry as you offer inside knowledge. If you decide to start a group with people in your same industry, avoid inviting direct competitors to your group. It’s important for group members to feel comfortable speaking their mind. 

Regardless of the type of people that you choose for your group, invite individuals who offer the most diversity. This will make your group more valuable and help everyone grow. 

Select group members carefully. Be sure to vet everyone. That way, you can avoid “firing” a group member who isn’t good for the group. It’s okay to consider people you don’t know very well for the group but get to know them first. 

Establish rules for the group. Make sure that group members know what to expect. State what the goals and values of the group are to let potential members make an informed decision about participating. 

Possible rules may include: 

• Confidentiality
• No fees for referrals 
• Honoring group commitments 

Confidentiality will ensure that group members feel comfortable sharing information. It’s important to avoid charging referral fees if one member sends business to another member. By not charging fees, members will keep group relationships personal instead of transactional. If you commit something to a group member, be sure to keep it. 

What a Group Will Do for You 

When you become a member of this type of group, you can expect more: 

• Accountability 
• Professional feedback 
• Collaboration 

These types of groups typically end meetings with a plan of action and goals to complete before you meet again. Your group will expect you to reach these goals. When you’re being held accountable, you’ll be more likely to follow through. 

Feedback can be tough to receive, but keep in mind that when people in your group give you feedback, it’s coming from successful individuals who you respect. This type of feedback provides enhanced learning, and it will help you grow. 

Your group is sure to include people who have unique talents, connections and experiences. When you interact and share the challenges that you’re facing, another group member will probably have advice for you on how to deal with it. 

Why Mastermind Groups Work

These groups work because they help members reach their goals. If you need help starting your group, contact me at the Productivity Intelligence Institute. 

The idea of a mastermind group is a fairly new concept. It’s new despite the fact that self-help author Napoleon Hill introduced the notion several decades ago. The idea just didn’t hit the mainstream until now. This type of group is created to help people manage professional challenges by meeting with others who are in the same field.  

How Do Mastermind Groups Work? 

A mastermind group uses peer support to help members of the group reach their professional goals. When you become a member, you’ll go to meetings that are held virtually or in-person to brainstorm ways to overcome obstacles and enjoy success. 

The master idea is helpful and inspiring because you’ll be connecting with those who are in similar phases of their careers as you. This type of mentoring is successful since it allows you to discuss ideas with people who will encourage you to take steps to reach your goals. 

Group Overview 

People start these types of groups to help themselves and others succeed. Members enjoy support from their peers and receive assistance dealing with career struggles. 

During a meeting, you can expect to talk about work tasks and the best project management techniques. Administrators will give members time to ask questions and answer them. This means that you’ll be able to ask specific questions. 

How to Start a Group 

Ask people you already know to join your group. Consider inviting people who are more advanced in their careers than you are. If your goal is to become the VP of your company, you’ll want group members who have already achieved this level or higher at their company. 

It can be tough to ask people to join, but keep in mind that most people want to help. They enjoy showing others how to do things. Many people also like providing tips on how to be successful. 

How to Run a Group 

To begin and run a group, invite from four to eight people to become members. Most group organizers discover that six is the best number for a group. 

Try to meet every week. Also, set up the group meetings to last for an hour to 90 minutes. These types of meetings are life-enhancing events, so be sure to prioritize them. Group meetings should be positive, supportive and helpful for every member. 

Make sure that every member is willing to share ideas openly and provide helpful feedback. Begin each meeting by having the participants share something good that happened that week. After sharing something positive, invite members to share a problem or an opportunity. End these meetings by offering appreciation for every member and acknowledge their contributions to the group. 

The Benefits of Mastermind Groups 

After each meeting, you may come away with an action plan and a set of steps that you’ll want to complete before you meet with the group the following week. Your group will hold you accountable for completing these steps, helping you maintain the discipline that you need to reach your goals. 

This type of group will keep you on track. If you run into a dead end, your group will redirect you. They’ll also help you make better decisions and guide you toward thinking about the big picture. 

Your Key to Success 

Mastermind groups are the key to many people’s success. By starting or joining one, you’ll have access to career knowledge and receive inspiration, making it easier for you to achieve your goals. If you need help or support, then contact me at the Productivity Intelligence Institute. 

What are mastermind groups? A mastermind group is a collection of likeminded people who come together to offer one another guidance and support. Mastermind groups provide many of the same benefits as mentoring, but there are several notable differences. For instance, instead of meeting with one person, mastermind groups include five or six members. Also, when you become a member of a mastermind group, you will be expected to participate by sharing and receiving advice. If you enter into a mentorship situation, you’ll just receive advice.  

What Happens During a Group Meeting? 

When you meet with this type of group, you can expect to brainstorm with other group members. The group may offer an educational presentation, or you could wind up talking about personal issues. 

Mastermind groups are often mistaken for mastermind classes, but this is not accurate. Mastermind groups do not have one teacher who presents a prepared lesson each time you meet. Think of this type of group as a “meeting of the minds.” As a member of one, you’ll be able to speak truthfully and receive the same from other group members. 

Mastermind meetings are not places where people network. You should not expect one-on-one coaching or any other kind of coaching from the group because it won’t have a solo authority figure. The group will have a leader, but this person’s job is merely to oversee community-building within the group. 

Why You Should Become a Mastermind Group Member 

The benefits of mastermind groups include: 

• Being a member of an exclusive community 
• Gaining access to expert advice 
• Collaborating with likeminded people 
• New learning opportunities 
• Promotional assistance 
• Receiving encouragement to think bigger 

Before becoming a member of a group, consider: 

• Why you want to join the group  
• What you want to contribute to the group 
• How the group will help you achieve your goal 

The great thing about mastermind groups these days is that technology has made it possible for anyone in the world to come together on a regular basis. In fact, it may be especially beneficial to join a group that includes people from different parts of the world. 

People think and act in different ways when they are in a group than when they are working on their own. When people are in a group, they work better. It’s invigorating to be a part of a group. Also, when you’re a part of one, you may be more encouraged to develop goals and continue working toward them. 

A New Mentoring Method 

People know that it’s helpful to have a mentor, but it’s becoming rare to have one. Thomas DeLong, a professor for the Harvard Business School, studied professional service firms. He said, “Everyone we spoke with over age 40 could name a mentor in his or her professional life, but younger people often could not.” What are mastermind groups? Mastermind groups are a great way for professionals to gain access to the guidance they need but don’t know how to find.