What's the difference between Mastermind Groups and 1 on 1 Coaching Programs?

Guest Contributor: George J. Sierchio
George's Posts - George's Blog

Any kind of coaching or use of an outside advisor is a great idea for advancing your business and staying at the top of your game but there are many choices in how you do it. Much depends on what your goals are as well as how you particularly respond to getting help.

Some people would rather the total privacy of 1 on 1 situations. Of course you will certainly pay for that kind of luxury, but it's well worth the money for the results you get. The coach you are working with is completely dedicated to you during your time together and their only goal is to move you from point A to point B in the straightest line possible every time they interact with you.

Your coach should have a lot of connections so to put you in touch with to attain your goals, but unfortunately there is no true networking aspect to 1 on 1 training.

Some people like a group setting for the camaraderie and networking with trusted individuals. This group is made to be a board of directors (that can't fire you) and a sounding board all in one. The facilitator, who should be a business coach/advisor, also puts their 2 cents plus in and keeps the others focused on the concern on hand.

Some groups are set up for only those in a certain industry and others are a hodge-podge of different industries. Either way, these groups are not made to promote conflicts of interest. If it's a local type face to face group, nobody will represent the same business that you do. A larger geographic group that meets only a few times at a central location or those that meet regularly by phone may have some overlap, but the geography should avoid a conflict.

As a matter of fact an overlap in a geographically diverse group could be a great thing to find out what others that are in your field have done to get past the problems you are having. It's all about openness, sharing and keeping a lid on everything said. Your fellow members will adhere to these rules or they will not be welcome in the group.

On another note, brainstorming and networking is the key to a group run by a coach versus just you and a coach. In additional, a well facilitated group also has a much desired educational portion to it that you often don't see in a 1-on-1 setting.

By the way, the beauty of a well run Mastermind Group is that you will have 1 on 1 opportunities and pay much less for it since it comes as a package deal. Can you really beat that kind of ROI?

Don't forget how lonely it is at the top. A dedicated group can do wonders. It certainly does for me.

If you haven't done so already, look for a group to join as we come to the end of 2008 so that your 2009 gets a true jump start.