Many years ago I was part of a mastermind where we paid a well-known performance coach to facilitate our group's experience.
In the first call the performance coach assigned the members into buddy teams. This was something new to us as we our current process had been to show up on the calls and conduct our mastermind meeting. So why did we need a buddy? We would soon find out.
To help us get started our performance coach gave us a buddy task.
Each week we were to check in with our buddy for 15 minutes to set an intention for the week and state anything that we needed support around. We HAD to have that call regardless if it was 5 am in the morning or 5 pm at night.
So we all embarked into our buddy calls, religiously checking in each week, else the wrath of our performance coach was to be had by all. (We were all a little afraid of this man, which I guess on some level meant there was no way we were going to fall down on our commitments. But I digress.)
What happened over the course of the next 6 months was truly amazing.
My buddy and I flew into massive transformation and accomplishments. We were both relatively clear on our focus and the weekly buddy calls helped us flush out any issues so we stayed on track. We kept our commitment to our time each week and often talked up to 30 minutes.
The second group of two had decent success. They were both floundering a bit with goals and clarity but managed to support each other on an emotional level. The calls happened about 80% of the time and they often talked up to two hours.
The third group couldn't find a time to talk, were not willing to challenge each other to keep the commitment and actually gave up on the group all together.
Notice a theme here? Not only did regular, committed check-in's with the buddy increase our ability to accomplish our goals but an added bonus occurred. Both of the “successful buddy teams” are still close friends almost five years later.
I've used this strategy with the groups I facilitate (without the coach fear factor) and I've found that the members who truly keep their commitment to a weekly buddy connection propel beyond the members who don't.
I believe that the level of accountability, feeling of regular connection to another "like minded person," and weekly clarity about what's truly important keeps us on track like no other process can.
I hope this inspires YOU to engage a weekly buddy connection too.
We hear a lot about masterminds and why they are important. Between the accountability, creative thinking and eliminating the feelings of isolation that many of us feel as entrepreneurs, a mastermind can be a powerful catalyst for growth leaps.
Napoleon Hill often referenced the idea of the "third mind," that state of creative brainstorming that can only be accessed when two or more people are gathered. What can be born from that "third mind" is the potential for a million dollar idea. A mastermind is typically comprised of people with different experiences, training, business models and ways of solving problems.
When you bring together people with different strengths who have a common purpose, the possibilities are endless. As a matter of fact, I actually seek out members with varied backgrounds and strengths to add to the power of the group.
One of my first experiences of leveraging the third mind was when one of my mastermind partners suggested a way to monetize a particular idea that had been cycling around in his head for months. Another member jumped in and built onto the first idea. Then another member added their twist. The next thing we knew the idea had morphed into a real money making idea that had a plan, action steps and a solid ROI. If the conversation had taken place between just two people, that same kind of thinking would never have led to this idea.
The partner implemented the idea and jumped from $600k/year to $3 million within 2 1/2 years. That's the value of just ONE GOOD IDEA!
I recently saw this "third mind" in action in my Fast-Track to a 6 & 7 Lifestyle Business Mastermind. One of the members had a business model that she couldn't figure out how to make profitable. She loved what she is doing but just couldn't figure out how to get it to break a consistent 6 figures. She brought an idea of transforming her "one level program" into multiple levels. By accessing the masterminds' "third mind" she arrived at an offering that will take her way over 6 figures in the next three months. Could she have gotten there on her own? Maybe. But she arrived at this plan in 10 minutes versus 10 months.
In my experience, there is nothing that can take the place of a mastermind to create the space for that kind of synergistic co-creative processing that leads to new possibilities. If you are in a mastermind, I hope you are creating that kind of synergy. If not, its time to change and get into a group where that energy is created. If you haven't yet joined a mastermind, you are looking at a massive leap forward if you are willing to access the "third mind."
Have you ever been in a mastermind group where the energy seemed to be falling flat? Maybe the group's communication is a bit low, people seem distracted, commitments are not being met or even members just aren't showing up for the meetings.
A stale mastermind can start to have a counteractive impact on your goals, dreams and bottom line. If people aren't engaged, the "third mind" thinking that is created with a fresh, sizzling group can't be accessed.
A few years ago I found myself in that very place. My much loved and treasured mastermind was falling apart and I didn't know how to get them back on track. It seemed that no one was really that excited anymore.
Now I don't know if you are like me, but I counted on my mastermind group to help me connect to out-of-the-box ideas and to keep me on track with my high ROI opportunities. So when my group wasn't working, it meant I wasn't able to tap into the synergy that I thrived in.
So how do you get a deflated mastermind group back on track? Here are four ideas to get that sizzle back.
1. Create a 30 day personal challenge. Have you ever noticed how a short sprint on the treadmill can get your juices flowing quickly? It's the same with a 30 day challenge. Plus it can really boost the morale for the group to see everyone leaping forward with a goal.
2. Change up the agenda. Maybe everyone is bored with the same ole-same ole way of doing things. Change it up every meeting so that things are fresh. If you always do "hot seats" maybe the next meeting should have a theme?
3. Trim the deadweight. Your group may just need to drop the people who are bringing the energy down. The people who aren't engaged will act like a black hole that sucks the good energy right out. If someone isn't showing up at 100%, it might be time to release them and invite new energy into the group.
4. Have a fun meeting. Could you put a little zip in the group by having a fun meeting? Maybe it's time to have a mastermind retreat at a four-star resort or meet for drinks at a favorite restaurant? Putting more social time in place may help people feel more connected to each other and increase the loyalty and commitment to the group.
My group began to thrive again by using two of these strategies. We let go of some members who just weren't willing to play at a higher level and we instituted quarterly "retreats" at four star resorts. Our first retreat was in Vegas at the Ritz Carlton. It was exactly what the Doctor ordered to get us back on track!
Have you ever joined a mastermind group and found yourself experiencing lack-luster results? Or maybe you know someone who complains about the group they are in and how it doesn't meet their expectations.
A few years ago I was in a similar situation where I was in a six figure mastermind group. One of the members, who happened to be my buddy, started to drift off and not engage. I could tell he wasn't really too involved with our calls and his energy was totally off. When I would ask him what he wanted that wasn't happening I could never get a straight answer.
What I finally realized is that on some level, he had inappropriate expectations about how the group should support him.
Just in case you find yourself in a similar situation, here is an overview of what a mastermind IS NOT meant to be.
1. A replacement for your own coach or mentor. Expecting your mastermind group to take the place of your own success coach is like asking a sibling to be your parent. They can often give you great input but it's not their job to help you align all your strategies, habits and mindsets with your desired outcome.
2. Your therapist. If you are expecting your mastermind group to dig into all the nooks and crannies of your lack of motivation or help you overcome the demons in your head, then you will quickly burn out your partners.
3. Your best friends. Now friendships may occur naturally over time. A true mastermind group has a purpose to challenge you and inspire you to grow. You may not necessarily "do lunch" or take family vacations together but your mastermind will have a huge impact on your life.
4. A substitute for your spiritual practice. Many masterminds have a spiritual experience around it but it's not meant to take the place of your meditation or prayer (or however you connect spiritually.) Continuing your regular practice will allow you to deepen your results in all areas of your life.
5. A way to make you do things. If you have a need for your mastermind to get you back on track or challenge you to change your bad habits, you may be in for a disappointment. A healthy group wants you to show up as their equal and someone who will play at their level. Expecting the group to transform you puts everyone in a bad "setup".
There is a saying, "How you do anything is how you do everything." If you come to the mastermind with inappropriate expectations it is an opportunity to reflect on how you are showing up. Be willing to look into what you could do differently (or who you need to be) in order to create those results within yourself. The truest form of a mastermind is to co-create a powerful energy of new thinking and higher possibilities. If one member is bringing their "stuff" to the table, the whole group can be affected.
We've had a few spots open in my VIP Level mastermind group which tends to generate a lot of questions about, you guessed it, why should I join your mastermind?
As I look back over the years that I've facilitated these high end groups, three reasons come to mind that cause a business owner to have a huge jump in income through mastermind participation.
First, being challenged. I remember when I worked for Motorola. The camaraderie of my workmates spurred me to accomplish as much as they did…or more. But when I went out on my own I lost that motivation factor. Being a part of a high level mastermind can do that for you. Just knowing that your partner is working on a seven figure marketing strategy will inspire you to look at those strategies for your business. Who wants to feel like they've been left behind? No one.
Second, collaborative thinking to uplevel your game. Solving problems in your own head poses a problem... it was your thinking that caused the problem in the first place. When you have access to many different people in a mastermind, you overcome that challenge and tap into collaboration. It allows you to access a solution generating energy that can only get created when multiple brain powers are present. You will have ideas revealed to you that you never even thought of before.
Third, access to the right resources. In my VIP Level group, there have been relationships forged that allow a member to catapult their results forward. Marketing expertise is shared, joint ventures created, accessing knowledge that would cost you thousands of dollars you get simply by asking for help. Again, participating in a high level mastermind causes you to shortcut your learning curve and costs as you move forward at lightening speed.
When someone tells you they've broken seven figures in their mastermind group, now you know why. This kind of success can only be replicated with the power of many successful minds coming together to support you in success. Now I have to admit I'm partial to facilitated groups like I run because you get the best of my coaching AND the mastermind. The important thing is: figure out what works for you and do it.
I've been talking with a friend about forming a new Investment Strategies Mastermind Group. As we mapped out the process we planned to use, it reminded me of the single biggest question I get asked about setting up a mastermind. The question is, "What do we do?" Knowing what to do is essential to having a successful mastermind experience. Especially if you are creating your own self-run group, where group longevity is rare, having structure and accountability can assist in creating all the members
Here are five must-have elements for a successful mastermind group:
- Regular Meetings. Set up a time and date that you will meet regularly. I recommend weekly or every other week. Some find that monthly works best, especially if it is an in person meeting in a big city. When you have a regularly scheduled meeting it allows people to plan their schedules around it.
- Consistent Process. Having a way in which the meeting is conducted keeps order and moves the mastermind experience along. For example, you might want to have a one-hour agenda with 15 minutes for check in's, 35 minutes for hot seats or support for 1 - 2 individuals and then 10 minutes for commitments and accountability. Always appoint one member to be time keeper for each meeting (rotating responsibility is best.)
- Goals Check In. Most mastermind groups are centered on achieving some type of goals. Be sure to have a way of tracking the successes of the group so that members experience accountability to accomplishing their goals.
- Buddy Support. A buddy can be the connection to accountability, support and consistency in between meetings. If you have weekly mastermind meetings you might want to have a 5 minute daily check in with a buddy. If you have a monthly meeting, then maybe weekly check in's would suffice.
- Confidentiality Agreement. Whether written or expressed, the group will accomplish more if there is an agreement around confidentiality that includes: non-compete, non-disclosure of anything said in the group, and ability to process without fear of judgment.
By taking the time up front to establish the group process, you will create strength, confidence and commitment from your group. Good luck!
Recently I was asked by someone if I knew anyone who was looking for a mastermind group. I asked the woman exactly what she wanted from a mastermind group and she replied, "I don't know, I just keep hearing about it and I think I should have one."
I've been masterminding for over 15 years. I've participated in and led probably 12 groups over these 15 years, ranging from spiritually-influenced to self-run to high-end groups facilitated by someone else. Each of these mastermind groups served a particular purpose and it wasn't until I was really clear about what my needs and preferences were that my mastermind experiences began to truly align with success.
Here is an overview of some of the types of mastermind groups that exist and what purpose they serve.
Traditional Masterminds.
Influenced by the popular book, Think and Grow Rich by Napoleon Hill, traditional masterminds are typically formed by a group of like-minded people who want to tap into the power of a "third mind" that is bigger than anything any one member can access alone. Focused on achieving goals, these groups meet to support and affirm your ability to achieve these goals.
Benefits: Typically there is no cost, everyone in the group is considered equal and the group members agree to meet in person or on the phone regularly.
Downsides: Usually one member of the group will fall into the leader role and become the coach or facilitator out of necessity. This changes the dynamic greatly and takes away from the leaders own personal experience. These groups often lack any structure or system to run so unless the group is VERY motivated it will fall apart. If a few members get more successful than the rest, they will usually leave the group as they won't feel challenged.
Spiritual Masterminds.
Usually formed around a church or spiritual group, spiritual masterminds are formed around the power of prayer. Group members bring a challenge to the group and the group's role is to help them tap into a power greater than themselves to access new thinking, opportunities and possibilities to transform their situation.
Benefits: Spiritual connectedness is very powerful for these groups, many times there will be an appointed leader and a set time to meet (although many are run as traditional masterminds.) Many spiritual communities offer a mastermind guide to assist in the process of setting and tracking goals.
Downsides: As powerful as the spiritual connection is, these groups don't typically offer any kind of brainstorming or proven strategies so the person is left to uncover the path on their own.
Business Masterminds.
A business mastermind is hosted by a leader who facilitates a mastermind experience for their group. There are two key types of business masterminds: mastermind only and coaching masterminds. The mastermind only groups are the like a traditional mastermind but led by a neutral 3rd party. A coaching mastermind is hosted by a trained coaching expert who facilitates an experience where brainstorming, strategizing and support occurs.
Benefits: Business masterminds are usually by application only so it reinforces a certain standard or level of success in the group. The 3rd party facilitation ensures that regular meetings are set, accountability is in place, and that all participants are equals. If coaching is included, the participants will get valuable support to overcome stuck spots swiftly.
Downsides: These groups usually require an investment to play with other big players that you wouldn't typically have access to. Is that really a downside though? I think not, but I had to put something in this category.
What sets your mastermind apart from every other friend, advisor and support system? The fact that it is a group of individuals who come together to create a special bond that challenges each person to play their biggest game ever. I just got back from facilitating a mastermind retreat for my platinum level members (all of who are over six figures) and realized that one of the greatest a-ha's each member walked away with was where they were playing small. We get used to seeing our world through our own filters. But in a safe spaced designed to encourage breakthroughs and new possibilities, you can tap into a whole new world by seeing who you are through other people's possibilities for you.
For example, one member had become quite focused on a business offering they just knew was perfect. As the mastermind held this person to their goals, values and priorities, the member found that they were giving away a lot of value without being compensated for it. Taking that program to the marketplace the way it was would have spelled burn out and overwhelm. The mastermind was able to brainstorm a powerful program that aligned with the member's value, priorities and goals.
So how does a mastermind help you play bigger?
Here are four of the ways that a mastermind can help.
1. Spotting being busy versus being productive. It's an insidious habit to just be busy. It's hard to recognize when you have fallen into the habit. Your mastermind can help you identify if you've fallen back into the busy trap and get you back on track.
2. Recognizing if you are playing small or getting in your own way. After a while, the group gets to know you and your patterns. They can quickly and easily spot an attempt to play it safe.
3. Role modeling what's possible. Inevitably, some of the members will be focusing on different or more advanced opportunities. By doing so, they are providing a bigger game to shoot for. For instance, two of the members of my Platinum group are now focused on working less and building more "lifestyle" into their life. The rest of the group lit up and became so energized that they began to reorient their own game so that lifestyle was a part of the vision.
4. Holding you accountable. You really want to have a group who does more than just show up and brainstorm with you. You want them to want your success for you just as much as you do. Having a group buddy or a way to track accountability helps.
Tapping into the power of a mastermind is life-changing. I personally have benefited for over 15 years and see how others lives are changed through the mastermind process. Most importantly, if a mastermind is leveraged properly, you can find yourself light years ahead by simply showing up with other's who are committed to playing a big game.
Is your mastermind super-charged? Well, if you are growing at the speed of light, feeling challenged to play a bigger game, and thinking of ways to take your business to the next level then yes, you probably have a super-charged mastermind.
But for many people in a mastermind, you might actually feel like Debbie did. Debbie stopped me at a recent event where I was speaking to ask me about my mastermind group. I often will talk about how my own personal mastermind group has challenged me to skyrocket my success. Debbie shared with me that in her mastermind group, she felt stagnant. Often her group, as well meaning as they all were, just went through the motions. Many showed up late to the meetings, didn't have any progress to share and seemed as if they were "on another planet."
Debbie was feeling the pain of a mastermind group in burn out. That happens when people get comfortable and don't feel that challenge to rise to the occasion anymore. I suggested that she "super-charge" her mastermind group.
So what are my 3 secrets to a super-charged mastermind?
First, only allow into the group people who share common values of integrity, connection and win-win outcomes. When your mastermind group hits a lull, it will be the common values that create a foundation to push past the burn out.
Second, have consequences for not showing up, being late, or not accomplishing goals. Human beings are susceptible to the "comfort zone." There has to be something at stake to continue to push past that comfort and continue to grow. Each group member must be aware of the cost of not playing by the rules.
Third, reenergize the group by introducing new players. Sometimes you just have to shake the group up a bit and get fresh bodies (and thinking) into the group.
The bottom line is that your mastermind group needs to stimulate, challenge and inspire you to play a bigger game. If that's not happening, you might need to find a new group.
Napoleon Hill, in Think and Grow Rich, taught us that a mastermind can cause you to think bigger and challenge yourself to play on a whole new level. Having a mastermind group is becoming more and more common place for business owners. So why does it work? Here are five ways a Mastermind can help you grow your business.
1. See your opportunities from a different perspective. We often get blocked in our own way of thinking. A mastermind can help you see opportunities from a fresh point of view.
2. Get challenged to play bigger. When you see other people creating big business success, something gets triggered that makes us want to kick our game up a notch.
3. Be accountable. Often we can let ourselves down but to let a group of peers down is unacceptable. A mastermind group is a great forum for knowing that someone will notice if you don't complete your action steps.
4. Access to your peer's resources and referrals. What is a proven resource worth to a business owner? It's priceless. Referrals to tried-and-true resources save time, sanity and money. A mastermind group forms a very tight connection. The commitment to each other's success becomes the bond. You will get access to referrals you won't get any other way.
5. Feel connected to people who "get you." Entrepreneurs just want to feel understood. When you are in a group of your peers who "get you", your confidence increases and so do your results.
I've been in mastermind groups for over 15 years. My first mastermind experience was with a group of friends back in San Diego, California where we focused on things like manifesting our marriage partners, finding our career paths and attaining our dream homes.
About five years ago I realized that as an entrepreneur, I needed something more. So I began a new kind of mastermind group that was focused on the challenges that all small business owners face: thinking bigger, moving past fears, learning from others what works in marketing and sales, etc. I quickly realized that I craved my mastermind time as a way to leap forward in my thinking and results.
Today, in addition to being a part of a mastermind for my business, I now also run mastermind groups for my clients. During our last Business Accelerator Mastermind Retreat in Phoenix, Arizona, some of the members were talking after the event about why it works. Here is a recap of the Top 5 Reasons a Mastermind Helps Them Thrive:
Brainstorming is more effective with more than one brain. Often our thoughts are limited to our current and past experiences. When you tap into the power of group experience, opportunities are unlimited.
You can't hide with in person accountability. When we follow our same old routines, it is easy to slip into the habits that have kept us in our current challenges. When you have a retreat to prepare for and you know that people are going to be listening to your updates, it's like a kick in the pants to remember to stay on track.
Other people's ideas can stimulate a healthy challenge. It only takes one new idea to put you on track for million dollar results. When you listen to how others think and strategize, it can help you grow and expand your "box" as well as challenge you to play a bigger game.
The realization that your obstacles are shared by many. It can be comforting to know you aren't the only one who has struggles and challenges. Many times a fellow masterminder's breakthrough can be exactly what you needed to hear.
Overcome isolation to thrive with connection. Dan Kennedy says, "Being an entrepreneur is the loneliest job on the planet." Most of us work alone from home. A mastermind can be a powerful way to stay connected, overcome isolation and a springboard for taking your business into new dimensions of success.
I've had a number of people contact me from Mastermind Groups that are failing and what they can do about it. Most of the time it's because they have the wrong members in the group and conflicts arise.
This morning I came across a blog entry by Melanie Benson Strick where she discusses some of the common pitfalls of Mastermind Groups and how you can avoid them. I found it very useful and thought I would share some of the key points:
Most Common Mastermind Challenges
The group gets comfortable and doesn't motivate each other for greater results.
Someone in the group feels like the unwilling mentor and leader and spends more energy 'pulling the group up.'
A member starts showing up late, missing calls or is routinely disinterested.
The mastermind becomes a social club and loses sight of the original charter or focus.
It's not challenging you in a good way and everyone in the group is grating your nerves and you hate going to the meetings.
How To Ensure A Successful Group
Elect 'roles' that each member of the team will hold. For instance, time keeper, note taker, meeting scheduler, mediator, etc.
Have written guidelines and agreements for how your program will be run. Include things like confidentiality, timeliness, regular meeting schedules, etc.
Bring in an outside facilitator or join a third-party program. A few years ago, my group joined a three month intensive program. Boy, were we on fire!
Identify written goals and check in with each other regularly. I suggest at least once a month.
Uplevel the game - create unique challenges to each other to achieve more. Create some stakes that everyone can have fun with. This works well when someone needs to handle an issue or energy drain - like clutter.
Do you have any other suggestions for creating a successful Mastermind Group
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.
Guest Contributor: Melanie Benson Strick
