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Thursday, September 25, 2008

The Diversity in the world of MasterMinds

Guest Contributor: Julia Wert-Marrocco
Julia's Posts - Julia's Blog


For the last 4 months, I have been using one of my fee-based Mastermind Groups as a "test case",(with their permission, of course) to attempt to prove that diverse groups (not industry-specific) are more effective than industry-specific groups. So far, my theory is still simply that: a theory. The sampling is still too small to publish any reliable results. The criteria for "more effective" in a MasterMind Group is also difficult to establish. So the experiment lives on. Counting the ratio of renewals to members is one good way to compare. Survey results are good measures also. I will let you know.

Here is what I observed over the last 4 months with my "test" group of 12 members, who are all in different industries, (one is in a different country):

Approximately 1/2 the group became the "core" who were committed, always showed up on time, took action, made promises, accepted accountability, contributed, and built strong relationships with each other.

1/4 of the group attended about half the time, and regularly gave explanation fo why they couldn't attend. (business conflict, out of town travel, emergency, etc). When they did attend, they contributed and were fully engaged. They just have very busy lives.

1/4 of the group attended the first couple meetings and then just "fizzled out". Stopped showing up.

There seems to be no correlation between the behavioral assessments and who became the "core" of the group. The "core" contains a wide range of age, different upbringings, different spiritual beliefs, and opposing political opinions. I believe that the diversity of the "core" might be what made it so vibrant. I will continue to bring in non-homogenized members and see, ultimately, if what I believe is true.

Each of the core members, at least once during the 4 months said "This Mastermind Group is my life line", or "I don't know what I'd do without the group", etc.

The ratio of re-committing/renewing, however, holds true to my industry specific groups: About 1/2 the people will stay committed and really make transformations in their business and personal lives, 1/4 will come and go, but will be vibrant when they attend, and about 1/4 will just fizzle away.

So, as far as renewing membership, there seems to be no difference in an industry group vs. a non-industry group. It still remains to be seen whether there is a difference in effectiveness.

If you are starting a group of your own, you might consider inviting a few more members than you want to end up with, since after a period of time, approximately 1/4 of your members' commitment will wane and you will have your "core" plus your come-and-go members.

I'd love to know your experiences!

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Name: Evan Carmichael
Location: Toronto, Ontario, Canada

EvanCarmichael.com is the world's #1 website for small business motivation and strategies. Evan also runs a series of successful Mastermind Groups in Toronto for entrepreneurs.




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