I am a strong advocate of mastermind or peer mentoring groups for every one. In fact, I have participated in a mastermind group or two every year in the past 20 years. A mastermind group is your Success Team, Board of Advisors, and Confidant. Together you work together for your collective success.
Whether you want to grow your career, advance your business, initiate changes in your department or keep yourself accountable to your goals, a mastermind can help you. The father of the mastermind, Napoleon Hill (and author of Think and Grow Rich), described a mastermind group as
“The coordination of knowledge and effort in a spirit of harmony,
between two or more people, for the attainment of a definite purpose.”
In an article, “The Benefits of Belonging to a CEO Group”, author Christopher Haan discussed how a peer mentoring group can help you manage your business and your better. The same can be said for managing your career. In his article, Haan states that participants in a mastermind or peer mentoring group must be ”active participants …– doers, not just listeners”. Mastermind participants who are CEOs, executives, or leaders participate because they are most likely not always going to hear what they need to hear from employees, the Board of Directors or colleagues, he says. “They come because people will tell them what they need to hear, not just what they want to hear. They really like having an objective sounding board of CEOs whose only agenda is to help you and your business get better.”
How does a mastermind group improve your business or career?
When you join a mastermind group you have an opportunity to join a select group of motivated and dedicated business leaders who are open and willing to take the steps toward collective success. Each participant brings their knowledge, skills, experience and insights. They also embrace the concept of sharing & supporting each member of the group. Receiving honest, frank feedback is not always what you want to hear but when given in a supportive environment, it allows you to seek solutions to turn negatives into positives, gain insights into how others perceive a situation or brainstorm new ideas.
A spark sets you in action, allowing you to gain velocity and sustain momentum.
Virtual or In-Person
There are a variety of different mastermind groups available for entrepreneurs, professionals, CEO’s and more. Each group brings its own culture and can be run in both facilitated and non-facilitated formats.
Virtual groups offer you the ability to connect with others in your city, province, state, country or globally all from the comfort of your home or office. There are great time savings because you don’t have to travel to the meeting location. Technology allows groups to video-conference together and improve the connectivity over telephone calls alone. Not meeting in person takes self-discipline to turn off your cell phone, email notifications and any other distractions. A mastermind only works when every member of the group is fully engaged and involved.
I have loved my virtual groups. My current mastermind team is global. We meet via Zoom.us because members of our group live and work in the USA, Canada, the Netherlands and Hong Kong, Each of us are business owners or senior managers, some in similar fields, others very different. It is the distance geographically that works to our advantage as we are better able to share our approaches and we learn the differences between cultures, specialties and more. The bond we have created and the support we each garner has helped members grow their business, write a book, take action on a dream to spend a month in Peru, and connect with new opportunities that may have passed by otherwise.
In person groups offer participants very focused meetings where you can connect in-person with other participants. For some, this format works much better than a virtual group. I have participated in this type of mastermind as well. In fact, I really enjoyed getting together with my mastermind team. We created a great environment to share and gain the support we needed to really step up into new arenas. A face-to-face group does have some drawbacks — most importantly is that everyone must live in the same geographic area and you have to allow extra time to travel to the meeting location. Timeliness is also critical – Time is money! Respecting each other enough to arrive on time, stay focused on the topic at hand, and being willing to discuss the “hard” areas will make this type of group a valuable addition to your business or career.
Facilitated or Self-Run – There are two different approaches to mastermind groups. Some groups are self-run, usually with one or two members taking on the role of leader. Many self-run groups have a loose agenda and experience a shorter lifespan. I have belonged to several self-run masterminds in the past two decades and two of them have survived for more than 10 years, although a few members came and went. the core remained in place thus offering stability.
On the other hand, facilitated masterminds offer members an opportunity to focus on their business or career. Rather than having to organize and lead the group, energy is spent on participating in the mastermind. The facilitated meetings generally have a fee attached and the facilitator will organize and lead the group, keep everyone on schedule and help coordinate resources, guest speakers and screen new members.
To Retreat or Not
In many facilitated mastermind programs, an in-person retreat is included. A retreat usually include only the mastermind participants. Others may invite other people to participate to ensure the group size will maximize the benefit a retreat can create. A Retreat may include fun activities, guest speakers, learning sessions, mastermind “hot seat” sessions and more! Getting away from your daily routine to focus on what’s important to you, and interacting with other motivated and supportive individuals make these retreats, in my opinion, the most valuable part of a mastermind.
Few things can accelerate you toward your goals faster than a mastermind group. Michael Hyatt
Take the next step
If you are ready to take action and ignite your career or business and reach new goals, a mastermind group maybe the solution for you! As a mastermind facilitator, I bring groups together who are at the same phase or have a common focus, In September 2016 I will be hosting a virtual mastermind. The Gold Spark Mastermind is a 6-month program designed for experienced managers, executives, entrepreneurs, CEO’s. Groups help to create their own mastermind culture. Members also have input into the approach, topics, schedule and format.
Three options exist —
- Mastermind alone,
- Mastermind + Retreat or
- Mastermind + Retreat + 1:1 Coaching
As a member of a mastermind you will be supported in your goals and accountability is a built-in component of each group. You will receive a Mastermind Success Tracker, access to monthly book reviews, expert interviews or tele-seminars for added support.
If you have questions, book an Ignite Session with me and we can explore this option for you.