Everything you ever wanted to know about Mastermind groups

If you’ve been wondering what the big deal is about Mastermind groups, here’s your chance to find out.

What is a Mastermind group anyway?

In short, it’s a small group of people who commit to meeting regularly for the purpose of peer support, brainstorming and accountability, and who are emotionally invested in one another’s success. You can find out a bit more here.

Why would you want to join one?

Someone asked me this and I came up with a list of 10 benefits - but I think that for me the top ones are the increased likelihood that I will actually get stuff done (as a result of the extra accountability and support) and the access to other perspectives (getting round my own blind spots), plus that feeling of being lifted up by our shared belief in one another.

How does a Mastermind meeting work?

You may be wondering about what actually happens in Mastermind meetings? There’s usually an initial meeting for everyone to get to know one another, to set guidelines and to come up with focused goals. Then within the regular meetings there’s usually a rotation of ‘hot seats’, where the time is divided equally and everyone takes turns talking about their issue and asking for other people’s perspectives, experiences or advice.

Would you like to set up your own Mastermind, or find one to join?

Here’s how to go about setting up a Mastermind group - there’s a lot to think about and a fair amount of organisation involved - but the rewards are significant too. It’s up to you to decide whether the benefits outweigh the time and the effort that’s involved in doing it yourself. Or whether you’d rather pay someone else, not just to save the time, but also to ensure that the group is well-chosen and well-facilitated, so that attending meetings feels like a gift you’re giving yourself and your business, rather than yet more work on your plate.

How to find a Mastermind group

Finding the right Mastermind group for you boils down to being really clear what exactly you want to get out of being in the group and then either asking around for word of mouth recommendations or googling until you find something that sounds right. Then you need to make sure you evaluate really carefully whether you share the same aims and values as the group leader and members - if not, the whole experience will most likely be frustrating and disappointing.

How is a Mastermind different from 1:1 coaching or online Courses?

What can you get out of joining a Mastermind that’s different from taking part in an e-course or 1:1 coaching? As compared to an e-course, a Mastermind is much more intimate. You all get to know one another and feel genuinely invested in one another’s success. Whereas the difference from 1:1 coaching is that you have access to several people’s wisdom and experience (and networks and opportunities to collaborate or to help to promote one another’s projects) rather than just that of your coach.

The benefits of being consistent – and how a Mastermind can help

Hands down, one of the biggest things that holds business owners back is inconsistent or scattered effort. Mastermind groups can help you to be much more consistent and focused in your efforts. You will have help both in setting your goals and in tracking your actions. And you’ll get a range of ideas and perspectives on how to get unstuck when, as is inevitable, you hit roadblocks or just lose momentum.

A different way to be in business

As solopreneurs, we get very used to diy-ing all aspects of our business and going it alone in all decision making. A Mastermind group gives us our very own Board of Directors, Brains Trust or Steering Group, so that we don’t have to go it alone any more.

Make space for uncertainty

We grow most when we’re feeling uncomfortable or uncertain - but boy, it’s not an easy place to be. Being in a well-curated Mastermind group of supportive members gives us that sense that we’re all in it together and that we can help one another find our way.