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What is a Mastermind Group? A Definition
I have been part of a mastermind group, and have run mastermind groups, since 1994. They have profoundly shaped my life and my business, and I'm a successful in business and life because of my participation in mastermind groups.
So, what is a mastermind group exactly?
Mastermind groups offer a combination of brainstorming, education, peer accountability and support in a group setting to sharpen your business and personal skills. A mastermind group helps you and your mastermind group members achieve success.
Participants challenge each other to set important goals, and more importantly, to accomplish them. The group requires commitment, confidentiality, willingness to be creative and brainstorm ideas/solutions, and support each other with total honesty, respect and compassion. Mastermind group members act as catalysts for growth, devil’s advocates and supportive colleagues. This is the essence and value of mastermind groups.
What a Mastermind Group is NOT
- It's not a class. While your group can vote to bring in guest speakers and teachers occasionally, the main focus of a mastermind group is the brainstorming and accountability support among the group members.
- It's not group coaching. Mastermind groups are about the MEMBERS sharing with each other, not about the facilitator coaching individuals in a group setting. You get everyone'sfeedback, advice and support.
- It's not a networking group. While you may share leads and resources with each other, it is not the main focus of the meetings. However, through your connections with other members, you will find plenty of joint venture opportunities, lead sharing, and professional networking.
NOW THAT YOU HAVE THE PROPER DEFINITIONS!!!!
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7 reasons why you should call US!
1. You’ll be part of an exclusive community. Joining a mastermind typically involves you being invited by the members or going through an application process. The other members need you just as much as you need them, so quality of experience and knowledge is crucial to all involved.
2. Advisement. Once you are involved in a mastermind, that feeling of “being alone” while running your business is gone. The other members of the group turn into business advisors of sorts and vice versa.
3. Collaboration is the name of the game. You may find someone in the group that is a perfect fit to work on a project with you. Or, you may be the perfect person to help another member as well. The group works together collaboratively, to achieve more together.
4. Extend your network. Joining a mastermind expands your network exponentially and rapidly. If you are in business, you know how important your network is. By joining a mastermind, you instantly add to your network and typically gain the networks of those in the group with you.
5. New learning. Everyone in the mastermind is unique in skill, experience and connections. By interacting and sharing your challenges, it’s almost certain that someone in your mastermind will have a solution for you and you may also be able to offer a solution, connection or tactic to help another in the group.
6. Cross-promotion. When you join a mastermind, you will most likely find ways to help each other by utilizing cross promotion. Finding ways to help each other through promoting to your respective networks.
7. Think bigger. Being in a mastermind will truly give you a Master Mind! You can’t help but think bigger and stretch beyond your boundaries when surrounded by amazing people doing amazing things.
Masterminds are incredible and can do wonders for your business as well as for you, personally. Growing in a group is not only more effective, it’s quite a bit more fun!
Stephanie Burns is the founder and CEO of Chic CEO - a free resource for female entrepreneurs looking to start a business. You can follow her on Twitter at @StephanieABurns or Chic CEO at @ChicCEO. Im following this CHIC!
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