I came across a press release today from the National Association of Women Business Owners who are recruiting for a Mastermind Group initiative.
There are two things that I liked about this release.
The first is that they outlined some of the benefits / criteria for joining which were: --wish you had a board of advisors whose expertise and advice you can trust --welcome support from like-minded business owners --wonder if you're making the right business decisions --would like to grow your business but aren't sure how --want to feel re-energized and motivated
The second is the way that they recruit members. They hold an event to introduce the Mastermind concept to people. It's over breakfast where everyone pays for their own meal. Reservations are not required and it's a chance for the potential members to meet the organizers and understand how it works.
I always do my meetings one on one after the candidate has had a chance to review the website. I find that is it more personal and easier to screen to see if the candidate would be a good fit or not but this is an interesting approach and one I thought worth sharing!
Ralph Zuranski did an interview with Dave Kekich, co-founder of Exceptional Producers, Inc., the country's largest life insurance master general agency, which raised $3.1 billion of premium income for First Executive Corp., co-founded a national financial services company and arranged venture capital funding for private companies for 11 years.
In it they discussed the benefits of Mastermind groups:
Ralph Zuranski: How important is it to have trusted friends and a mastermind group to bounce your ideas off?
Dave Kekich: I don't think it is essential, Ralph, but it is a huge advantage. You need to select very carefully who that mastermind group is going to be, though I think you want people who have been selected carefully, who are in tune with their goals, not necessarily their skills, or their experiences, because you want to have a wide variety with different disciplines in there. I think those people do have a huge advantage.
Ralph Zuranski: How do they make a positive difference in your life?
Dave Kekich: For the amount that I have done, they validate or correct my ideas, people to bounce ideas off of, and then I get ideas and inspirations off of them. And I think mostly they give me someone to answer to, and that is a very big, overlooked advantage to mastermind groups.
You basically come out in public and you expose your ideas and dreams and aspirations and your goals to other people. And there is a certain amount of peer pressure to implement your ideas at that point.
It is real easy to have goals and ideas and to keep them to yourself and die with them. But when you start sharing them with other people, it puts a lot of pressure on you.
I'm always on the lookout for new articles that discuss Mastermind Groups. I'm fascinated by the different ways people are using Mastermind Groups to help achieve their goals.
I came across a resource that I foolishly overlooked before: my own website.
We have over 800 authors now writing for the site and many of them have already covered Masterminding and the benefits. From a simple Google search, here are some of the articles already on the site:
One of my resolutions/goals for 2007 is to start a mastermind group. ... So how do you start a mastermind group? How do you choose whom to invite into your ... www.evancarmichael.com/Starting-A-Business/841/Mastermind-Your-Way-To-Business-Success.html -
Sometimes called a "dream team" your mastermind group is made up of two or more ... You'll find one of the real values of a mastermind group is the ... www.evancarmichael.com/Entrepreneur-Advice/565/Two-Heads-Are-Better-than-One.html
What exactly is a mastermind group? I have heard that term many times but I ... If you want more information I recently set up a Mastermind Group Blog that ... www.evancarmichael.com/Forums/viewtopic.php?p=520
A powerful strategy, first defined by Napoleon Hill in his classic book, Think and Grow Rich, the mastermind group is simply a group of like minded people ... www.evancarmichael.com/Business-Coach/143/Ten-Simple-Ways-To-Increase-Your-Business.html
In every successful business I have ever known about, or read about, a formal or informal mastermind group has been in place. In view of that, ... www.evancarmichael.com/Sales/499/How-to-Gain-Introductions-to-New-Client-Groups.html
Membership in a Mastermind Group is, however not for everyone, Carmichael warns. "We screen our applicants to make sure they are serious about building ... www.evancarmichael.com/Press/Teaming-Up-To-Make-Business-Dreams-Come-True.htm
Several months ago my mastermind group was talking about backing up their computer files. One member of the group actually took his back up disc to another ... www.evancarmichael.com/Business-Coach/107/Planning-for-the-Unthinkable.html
Ryan Mercer wrote a great article on the Importance of Masterminding. In it he outlines what Mastermind Groups are, how members can get the most out of their experience, and what the top 10 benefits are of joining a group.
He also provides 7 suggested guidelines for how a Mastermind Group should be run. They include:
1. Invite the 'givers'. In other words, create good company and be in good company.
2. Coordinate in the spirit of harmony. Complaining or whining, arguing with or negating anyone else's ideas is not productive. Gently remind people to express positive solutions.
3. Plan a mastermind session bi-weekly or once per month, and make them fun. Try lunches, dinners before or after the weekly conference calls when the energy of the group is naturally high.
4. Start each session with a time "Good News", Success Stories, or Joke of the day, from the group or even Chicken Soup Books. This generates incredible synergy for the group.
5. Encourage team members to determine their "Top Challenges." One person can facilitate and lists the challenges out on a board, overhead, or shared electronic media.
6. Let the group prioritize and take a vote on each of the challenges listed by asking the question: "How many of us would like to focus on this one first and work on it until it's resolved?" And then take a vote. Do that for every challenge down the list.
7. The facilitator can then asks the group, "Who has any experience that can help with this challenge?" Then, brainstorm all of the solutions on the overhead/board/media.
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.
