After almost a year into my tenure with my first Mastermind Group, the members suggested that it would be fun to get together outside of the meetings in a more social setting to get to know each other better and hang out. Sometimes it is fun just to be with other entrepreneurs and have a good night out.
We decided to have a pool night at the establishment of a friend of one of our members and I invited the members from the other two Mastermind Groups to join as well. It was a successful event and we have since gone back.
We are also putting on a special event in June for all three Mastermind Groups to meet with and listen to the advice of the CEO and founder of one of the fastest growing companies in the country. He is sharing his success story and will help the members deepen their business knowledge. The goal of any Mastermind Group should be not only to pull from each other but also from the people who have accomplished more than they have.
I am anticipating a great event and it will be another opportunity for the members to meet and socialize outside of the Mastermind meetings.
If you do not already have some kind of social outing with your group I would suggest doing something fun. It does not have to be too elaborate or expensive. As long as it provides the opportunity for the members to deepen their relationships with each other it will make the group stronger, more committed and have everyone focused on moving forward together.
I was pointed to the Life Two Midlife Improvement blog this morning (I'm not close to my midlife yet) because of a post written by Dave the Coach about who to invite and how to run a Mastermind Group. His advice is:
Who Should be a member?
You want people who have a similar interest. For example, a group of executives starting their own consulting companies.
They should be willing to make a commitment for a year to give a chance for the group to work. Note: It takes at least 4-6 months for the group to really gel and get to a consistent level of performing.
Interview people you are considering. Ask them what they can bring to the group and share what you bring to the table as well.
You all will need to be able to give each other feedback and be honest and willing to discuss when things are not going well. This is the most challenging aspect. And the most rewarding.
This needs to be a group that is passionate about blowing through the roadblocks and really exceeding everyone's goals.
What are the logistics?
I recommend meeting every two to four weeks at the same time. That way you can protect the time in your calendar. It means protecting that time as part of your commitment to each other.
You generally start a meeting with a check-in to share what you need to discuss. That drives the agenda with equal time given. Sometimes, my MM group will devote an entire meeting to working on a single issue for one member. We then make sure subsequent meetings shift their focus to the rest of the group. It is very democratic.
Whether you are mid-life or not, Mastermind Groups are a great way to help you connect with your passions and build a plan to accomplish your goals.
Brian Bartes is a business coach who posted an entry discussing Mastermind Groups to the Networking Business Talks blog. It included 5 steps to creating a Mastermind Group and I thought I would share it for those of you considering creating a group of your own:
1. Form the group. Contact a number of prospective members. They should work in non-competing fields, and be people that will contribute to the synergy of the group. An ideal group size is 4-6.
2. Create a systematic schedule. Monthly seems to work well, and a systematic day and time is best. All members should be dedicated to this schedule.
3. Formulate a plan. A set format causes the meetings to run more efficiently. For example, the first 30 minutes could be open for general discussion. Then, each member could receive an allotted quantity of time (15-30 minutes, depending on the size of the group) to discuss his or her "issue of the month."
4. Include an occasional guest (optional). Some mastermind groups include guests as part of their format. These guests could be invited to speak on a specific topic (e.g., an attorney who specializes in estate planning), or could participate in the deliberate format.
5. Take action. One of the benefits of a mastermind group is built-in accountability. Be certain to take action on the ideas that were generated at the meeting. Furthermore, develop a support structure that includes follow-up reporting at the next meeting. Be certain to report both your successes, and your challenges.
Have you found success creating a group? I would love to hear your story.
I came across a LinkedIn Answers site today about a LA Mastermind Group looking for 2 new members. It got me thinking as to what the best ways are to promote a Mastermind Group.
My first group was started through my existing network of entrepreneurs. They were people who I met with on an individual basis to discuss the idea and see if they had an interest in joining. We had our first 4 members join that group and it has slowly built itself up. We've now created 2 new groups as well.
I think it's a good idea to start with your existing network because you know them and can gauge how well they will work together and what everybody is trying to learn to grow their businesses. You need the right mix of intentions, industry backgrounds, and personalities to make it work.
After creating the founding team of 4 for the first group, we've expanded our promotional efforts to include:
Online - this blog, targeted niche articles on my website, a few related websites that target local groups
Referrals - this is always the best way to drive new members since existing members know who would be a good fit with the rest of the group
Media - I've created an identity as a local expert in Mastermind Groups and have done numerous interviews with the local media about the topic
How else have you promoted your groups or how are you planning on doing it?
After a successful Mastermind Group meeting members usually leave full of energy and ideas and are ready to take on the world. The momentum may last a week or two and then life gets in the way again and you fall back into your normal routine.
How can you keep the momentum going and stay in touch with your group members if you only meet once a month or less frequently?
For my groups, every member is partnered up with another member and they are responsible for calling each other every week to make sure they are both following through on their goals. We have also created a private forum for our members to be able to log in and share ideas / brainstorm challenges between meetings.
A new technique that I recently came across is to have a Mastermind blog where each member is responsible for posting every day what they have done to move forward on their goals. While a daily posting might be excessive for some, it can help you keep on track and make sure your attention does not get diverted when life "gets in the way."
What I've found real helpful and has given me a lot of motivation in my new group is our mastermind blog. We post what we have accomplished day by day. Just that is really keeping me on track. I want to share with my group what I've gotten done day by day. The blog is a great tool for between mastermind meeting.
Make the blog private so no one besides your group can see it. I have my blog professional hosted at my own domain name (TheProsperityGuy.com) but for your Mastermind blog one of the above free blog sites is good because only your group members are going to visit it.
What techniques do you use to stay in touch with your fellow Mastermind Group members?
One of the greatest things about effective goal setting is that when you commit to someone else you are more likely to follow through. When you get involved in a Mastermind Group, make sure that you use your fellow members to hold you accountable to doing the things you said you were going to do.
A great example of this is Naadi Salaam. Naadi is a startup entrepreneur who always wanted to create a company in the hair industry. With the help of a newly formed Mastermind Group, Naadi was able to get the support and ideas she needed to launch her business.
I decided to embark upon the exploration and creation of a mastermind group in order to pursue my life's passion (natural hair and make-up). i'll have to expound more on the mastermind group, but i HIGHLY recommend the book think and grow rich by napoleon hill. since the creation of the mastermind group, 7 weeks ago, i have finally legitimized my hair business and created promotional materials and an advertising plan for the south asian bridal make-up service! ever since i got the ball rolling, it has grown and taken on a life of its own. i am now considering pursuing a home study course in aromatherapy so that i can better understand essential oils and their healing properties, in an effort to grow and expand my business by offering different services and products. i would have never thought that i would have gotten so much out of a simple networking seminar, but i did.
Have you had any similar experiences where your Mastermind Group really helped you get into gear?
Kerry-Ann writes the A Happy Inspired Life blog and recently posted about a new Mastermind Group she was setting up.
There is always a lot of excitement that goes with creating a new Mastermind group - it is the opportunity to find a group of peers that can contribute to your success and hold you accountable to actually following through on what you say you are going to do.
In Kerry-Ann's words:
I was very excited about the thought of being in a mastermind group because I feel the accountability will be in valuable. When it is just me it is so easy to have good intentions but also to let them be swept under the carpet and promise myself tomorrow.
But with a mastermind group I have to state what it is I want to do this week, knowing that next week I am going to have to report on what I have and have not done. This is a huge incentive to get off my butt and do what I say I'm going to.
Your mastermind group will also support you when things are tough and can be a great place for resources when you're not sure where to turn.
It is so nice to know that some one out there cares and has your back but does not have emotional attachment to you achieving your dreams. They can also help you to see a different point of view and hopefully help you stay light and happy even in the face of difficulties.
What have you found to be the greatest benefits of your Mastermind Groups?
Lisa Egan writes a blog on MasterMinding and is a supporter of having the groups online. Regular blog readers will know that I've touched on online Mastermind Groups before and while I'm still skeptical that they can have the same impact as a face to face meeting, I like to present you with the options and let you pick which option best suits you.
Lisa wrote a recent post highlighting the benefits of the online model:
I demonstrated how a typical mastermind group set-up would operate in our online groups. These are not chat rooms, bulletin boards, or webinars; they are complete home-away-from-home, full featured, multi-media rich spaces where you can conduct every on ground meeting task and then some.
Masterminding online is actually better, faster, more efficient, productive, broader, and deeper. I guess you can tell I'm passionate about this. I absolutely believe in it. Ten to fifteen members in an on ground group cannot achieve the necessary knowledge, and information exchange that is required to be effective in the time alotted for a typical meeting. Being a member of an online group means you have access to your group 24/7 when you need to tap into the mastermind, and as a participant, you can respond when the brainstorm strikes and at your convenience ... maybe after you've had dinner or the kids have gone to bed.
Do any of you have experiences or thoughts of online versus face to face Masterminding?
That's a question we often ask. It's human nature.
If you're a considerate person, you ask it in your head. If you're rude, it's probably out loud.
But it's not necessarily a bad thing.
There's a difference between being selfish and being self-aware. A selfish person only looks out for himself. A self-aware person takes others into consideration, but not at the expense of their own needs.
When you join a mastermind group, it's important to ask, "what's in it for me?" Knowing what you want to get out of the group is as important as knowing what you can contribute.
The Right Fit
Different groups have different dynamics. Often, a mastermind group may evolve into a something other than a textbook group, or may not follow the guidelines established. This is why it's critical to know what you are looking for when you join the group.
Some groups become support groups or bitch sessions. Members may drop out, others stay on but mostly complain. If you don't have a clear goal for your involvement from the beginning, it can be easy to just go with the flow of the group. Rarely is this kind of group helpful to those looking for the true benefits of a mastermind group.
A group may evolve into a jam session or book group. A jam session is where a group folks of a similar craft get together and spends the time working on something - a project, a song, a program. This isn't a bad thing. It's actually very beneficial. I've been involved with groups like this before.
A group that becomes a meeting to discuss personal development books or other resources can be a natural progression of a mastermind group. I've seen it happen. Again, not a bad thing. But if it's not what you had in mind, these types of groups may not provide you with what you're looking for.
The group I belong to currently does a great job of following the core guidelines of a mastermind group. This is what I was looking for in a group. I wrote down goals and had a clear idea of what I wanted to gain from the group - along with what I felt I could contribute. I know at least some of the members did the same. Knowing "what's in it for me" has helped shape the group dynamic. Making it fit the plans we each had in mind.
When you set out to join a mastermind group, have a clear idea of what you're looking for. Ask the other members to do the same, and allow that to be the foundation for the group.
Remember, a mastermind group with a clear vision is formed by individuals with a clear vision. Knowing what's in it for you will help ensure everyone gets what they need from the group.
Starting your own Mastermind can be simple...if you know what your goal is. A Mastermind group doesn't have to be a complicated task. You have to know what the questions are before you can answer them.
What do I want to accomplish?
Who do I want in my group?
Do I want to charge a fee?
What will the schedule be?
Knowing what you want to accomplish is very important. Be specific about your goal for the group. You need to have a plan as to how you're going to reach your goal. It doesn't have to be complicated. It could be as simple as picking a topic to discuss. You are the leader of the group as far as the structure is concerned. You are not the boss however. You are there to guide your group, to help them work towards their goals.
The members of your group will set the tone for your meetings. The process by which you invite new members is up to you. You set the guidelines. Flexibility is also important. You never know how a person will conduct themselves. If you feel a member is not contributing in a way that is helpful to the entire group don't be afraid of asking them to leave the group. There are also people who will surprise you as time goes by. The person who you thought may not be right for the group could turn out to a valuable asset. Be patient, look beyond the person's obvious behavior. What you find may surprise you.
Charging a fee is a personal choice. You may just want to cover expenses or build a fund for future events. Building a fund is also a good way to provide tools for your group. It could be a personal development book to help your group between meetings or a practical guide to help your group reach specific business goals. The amount of the fee is also a personal choice. The amount of the fee will have an impact on the accessibility of the group for some people.
The schedule for the group at first will be something you need to decide as well as where it will be. Whatever you decide it doesn't have to be written in stone. Remember flexibility is important. As your Mastermind grows you need to do what's best for the group. Although every member is important you won't be able to accommodate everyone. That's where you come in as a leader and make the final decision.
Starting and maintaining a Mastermind group does require dedication. Don't start one if you're not willing or able to follow through. Understand what is involved and that people will be counting on you for guidance. Every member contributes to the group but you as the leader are the glue that holds everything together.
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
You've heard the expression "two heads are better than one."Imagine how powerful it can be to have an entire group of people focusing on a question or problem you have.When you have a cohesive mastermind group with people who are truly invested in helping and supporting each other, the results are amazing.The whole truly is greater than the sum of the parts!
In recent mastermind meetings, I have experienced this power.It is great to be a part of something that feels so wonderful and meaningful.When someone presents an issue or problem, you can feel the energy build as the group begins to brainstorm and share ideas and suggestions.One idea builds on another, creating a fabulous array of possibilities and opportunities.I find the creative process helpful to me even when we are discussing someone else's issue.
It is during this brainstorming that the magic of masterminding develops.It is important to create a safe atmosphere in your mastermind group so that everyone feels good about participating in this process.When it is your turn to present a problem or question to the group, it is important to be open to all the ideas generated by your mastermind group.Keep an open mind and don't judge any ideas (at least not yet, you can filter through them later).Let everyone participate and recognize that all ideas are important and have value in the process.
When you are brainstorming to help another member, listen to your intuition and honor your inner wisdom by speaking your ideas - even if they seem silly.Try not to censor your ideas.You never know how your idea might spark another person or how your idea could be built upon to create a great solution.So be active and make suggestions - every voice in a mastermind group is important.Remember... the whole is greater than the sum of the parts!
Over the next week I will be in New York on a mini vacation. Thank you for your continued support and readership! I'll be back on the 19th and will return to my regular posting in the blog!
If you read Reg Gupton's recent post on "Secrets to a successful Mastermind Group meeting format" you will notice that one of the key ingredients to his groups is coming up with 21 ideas to solve one of the group member's problems.
I brought this idea up to one of my groups on Thursday and they loved the idea. We're going to be doing a slightly different format where we allot 30 minutes to brainstorming. Since many of the members want an opportunity to brainstorm their problems, we're going to give 2 members 15 minutes each to present a problem and then have the group come up with as many ideas as possible to help solve the problem.
I'm looking forward to an exciting meeting next month and potentially making Reg's suggestions a regular part of our meetings!
Once you have decided to create a Mastermind Group, you need a plan for how to conduct your meetings to gain the full power of the synergy of like minds.
The format of my Group meeting has evolved over time. We started with no plan and struggled for some time as you might expect. We didn't know how to use the intellectual power we each believed was in the room. There was no structure. Lots of talking and banter. No solutions.
We put the power of the Group to work to solve the question "what is the best structure our sessions?" We brainstormed, tested and found the plan outlined below works very, very well and has for many years.
The meeting begins with 2-3 minutes per person during which each reports on successes they have had since the last meeting. It gives us a chance to be acknowledged and encouraged as we make progress toward our stated goals.
Then we negotiate for time in the rest of the meeting. Each person brings a challenge if they have one. We simply divide of the remaining meeting time among the members with a question. Not all participants will have things to talk about at each meeting. Some questions have more urgency than others. We learned that we can work with different priorities.
The member with the question moves to the front of the room and writes down their question on a flipchart. We often spend a few minutes making sure that we are focused on the "correct" question. It is surprising how many times we assist by refining/reframing the question. Often the member lacks insight into the nature of their true problem.
It is critical that the question is succinct and properly worded. If we frame the question incorrectly, we will not provide the help that is requested.
Once the question is framed, it is written on the top of a flipchart page. Then the member numbers down the left side from 1 to 21.
We then begin brainstorming, offering solutions to the problem as stated or actions to be taken. The member with the questions only job at this point is to act as a scribe and write the solutions offered. We continue brainstorming until we have completed the full list of 21 solutions.
As you might expect the first dozen or so are too easy. When it gets difficult the creativity really begins. The best solutions generally happen after solution #16 or so. When the contributing members have to really think and dig, the breakthroughs occur.
The person at the board then chooses 2-4 items to complete or work on over the next several days or weeks.
Use this structure for your meetings and watch the productivity soar. I guarantee it.
Even at times when our family income is at an all time high, I'm always on the hunt for great free resources. But when does it make sense to pay to participate in a mastermind group, no matter what your income level?
I've participated in both paid and free mastermind groups. In analyzing these experiences for this article, I was surprised to see the distinct differences in group dynamics that had been affected by whether or not the members paid to be there.
Perceived Value :: Generally speaking, something that is free is inherently valued a bit less than a service that is paid for.
Giving vs. Getting :: When individuals pay for participation, that also signals that they have made a contribution to the group. This may steer participants into focusing more on "What will I get for my money?" vs. "What can I offer this group?"
Investment vs. Reward :: Participants will always get more out of a mastermind group when they put more into a mastermind group. Investments of time, money, emotions and knowledge can all produce the same great results as long as the level of investment is high.
Coaching vs. Masterminding :: True masterminding is when a group of equals get together and offer each other input. Group coaching is when a group is led by an expert. Sometimes, a mastermind group is a cross between the two. It's an important consideration in determining what the group members are getting and giving to each other, compared to what they are expecting to receive from a facilitator with more knowledge than the rest of the group members.
The least successful mastermind group I participated in was in a relatively expensive program with very successful entrepreneurs. We all valued each other's input immensely, but I do believe that the level of monetary investment cancelled out some of the critically needed investment of emotional support and knowledge contribution from the participants.
The most successful mastermind group I participated in was part of a paid series of programs, and the cost of the series was the same if you went to one program or all programs. Thus the participants only joined the group if they had the emotional desire and commitment to growth necessary for the group to flourish, as well as a financial investment which increased their perceived value of the program.
When to Pay :: My own personal criteria for what makes a good financial investment in a mastermind group is whether or not the group will be led by, or have access to, experts in my field. These are people I would consider more "mentors" than "peers". This would be considered a little more of a cross breed between group coaching and a mastermind group - and usually well worth the price!
When to Not Pay :: When I am with a mastermind group of people who I would consider very successful, but nonetheless my "peers", I feel I am able to contribute more expertise and advice, which is equally important to growth. Yet in this environment, I would prefer not to put myself in a position to pay for giving lots of advice. In this mastermind model, I believe that a financial investment can do more harm than good.
An alternative to the last suggestion would be to have the group members pay funds towards a group bank account, in which the funds could be used for social gatherings, philanthropic work, or as an incentive pool for goal achievement.
The Mastermind Groups that I run each have members from different industries. If you're in the same business, or closely related, you cannot get into the group. The reason we set it up this way is that a) you don't want to share secrets with your competitors and b) chances are you know how things work in your industry - it's better to get ideas from people in different industries to learn how they do things.
There is an alternative way of thinking, however, for many groups where they set up a Mastermind Group for a particular industry. One recent blog post I came across highlighted this trend as the author, Glen Hopkins, shares advice on setting up a Mastermind Group in the technology sector:
One of the best ways I have found to create a mastermind group is through networking. The more you get to know like-minded people in your industry, the better the chances are of forming a powerful mastermind group.
For example, if you are an Internet marketer like me, you might want a computer programmer, a graphic designer, a copywriter and a sales professional in your group. This way, each of you can approach a challenge from a different perspective and offer valuable insight that the others would never have seen.
I suggest you do some research and learn as much as you can about mastermind groups. Start by networking and meeting with other people. Once you've formed a group, you should meet with each other once every week or two. This can be done online or via the telephone.
A mastermind group gives you a way to learn, understand and apply much more than you know now and at a much faster rate than trying to figure it out yourself. Nobody knows it all, that's why entrepreneurs need to help each other by forming mastermind groups.
One of the greatest benefits of a Mastermind Group is taking advantage of the opportunity to re-commit to the goals you set out for yourself. How often have you made a goal and not followed through because "life" got in the way?
When you commit to others and you re-commit on a regular basis you are far more likely to follow through. Philip Humbert highlighted this issue in a recent post in the Boatrocker's Blog:
RE-COMMIT TO YOUR GOALS EVERY DAY!Every day, remind yourself of your priorities and re-commit to them.For some this means time to meditate or pray.For others, it means a quick call to their coach, a friend, or members of a mastermind group.I encourage clients to start their day by writing a brief statement of where they are going and what they value in life.
Every day, 1001 minor tasks and distractions will interrupt you.The phone will ring, the boss will give you a “special” project, the kids will interrupt.Life will get in your way.Count on it!Plan for it and innoculate yourself.Every pilot and ship's captain knows that winds and currents will take them dangerously off-course.This is a natural process, something they know about, expect and plan for.It is not a surprise or source of frustration!Every day, plot your location, check your direction, and make sure you stay on course!It only takes a few minutes, and it is essential.
I came across an interesting blog this morning called Kevin Thompson Uncensored. His most recent post discussed how he went over to a friend's house to help him brainstorm ideas for his window cleaning business. By putting their heads together they were able to create a new program for his friend, Louis, to get more clients for his business:
And this is where the "Mastermind Principle" came into play.
We asked ourselves this one simple question:
How can we add so much value to this program that when presented to the client, they'd immediately think to themselves, "I'd be crazy not to take advantage of this".
And let me tell you, that’s when we came up with some incredible ideas.
You see, when you ask yourself the right questions, you'll come up with the right answers... every time.
And when you do this with someone else (which is called masterminding), you come up with a whole lot more right answers.
Where things used to be a struggle - now they are accomplished with ease.
Where cashola used to be tight - now it flows like a fire hydrant
You can accomplish great things with the help of like-minded people, and when you begin using the power of the mastermind, you'll do more, go further and have more abundance that you ever thought possible.
In one of my Master Mind groups recently, we had to make some decisions about the future of our group because the logistics and format were not working for the majority of us any longer.We were each courageous enough to bring our concerns to the table and at the same time, open to hearing others' ideas for resolution.Rather than feeling as if we were each alone with this problem, we brought it up for group discussion, heard others voice the same concerns, and then found the perfect compromise.In this case, we've gone from meeting bi-weekly and rotating to each others' homes at lunch time to meeting monthly at one person's home for dinner with email contact in between to remind each other we're holding their goals and intentions in mind and supporting them from afar.
It was such a great example of effective team dynamics, it made me think of the conventional work teams and issues that prevent effectiveness and positive outcomes many times.What if all work teams could be this effective? What needs to change?
For one thing, individual agendas. Realize that a group should come together for one purpose, that of accomplishing a goal, or in the case of Master Minds, to share and support each other.Secondly, honesty and the ability to hear other opinions is crucial. There's nothing beneficial about holding back opinions or harboring resentments just because we're afraid to bring something up.That's where trust and openness toward other team members comes in.If we make efforts to know people better, approach our work with an attitude of camaraderie and enthusiasm, team mates pick up on this and join in the fun and we move together as a unit in accomplishing our goal.
So here we were, a small group of people of the same mind, able to work out our issues in a way that was agreeable to everyone.We experienced the importance of being honest with each other while compromising for the betterment of the whole. We trusted each other and found a workable solution and everyone was pleased with the outcome.
Take lessons you experience in your Master Mind groups to work with you. Apply some of the same kindness, compassion, consideration and teamwork there.See how your work life changes for the better!
Often in business there can be the assumption made that people who do well have done it alone. We have been trained to think that the CEO has all the answers and should not need to ask for help.
In reality, however, the opposite is usually the case. Business owners who have the greatest success are usually the ones who admit that they do not know everything and look to experts and their peers to get advice and support. This is the power behind the Mastermind Groups.
The Essential Business Coach blog touched on this issue in a recent post:
In his work, Napoleon Hill talks about what he calls a 'mastermind' group. This mastermind group is made up of like-minded people who meet to talk about business concerns and find their way through in achieving business outcomes.
In this way, the most successful business people always have people around them. They have trustworthy people around them who enable them to think through the problems that they face and help them hone their business ideas.
You do not have to be alone in business.
Get the right people around you that you need to succeed. Get yourself a business coach and a range of mentors who will help you with your business success.
I learned to drive a farm tractor at an early age.I was ten years old when Dad allowed me to drive the "Cub" to mow the grass.The Cub had a manual transmission and selecting the right gear and operating a clutch smoothly were the challenges of the job.
I got very good at it and was a smooth operator knowing when to change gears and how to avoid jerky starts and changes.
When I was old enough to drive a car, manual transmissions were still common, but on their way out as the preferred transmission.Eventually, most transmissions in vehicles became automatic.
The automatic transmission makes life easy and comfortable while driving a vehicle.
As a parallel, we often get our personal and business lives set in automatic for ease and comfort.The problem with running in automatic is that we lose the feel of what the process of change involves.There is no thought about the need for shifting gears because all of the decision making is predetermined.
The benefit of meeting with my mastermind group is that I can get out of automatic and go back to "manual" thinking.As the group discussion involves reasons for shifting thinking, either up or down, I mentally smooth out my business ride. From first gear to overdrive and occasionally to reverse, the shifting process makes the difference and breaks the limitations of running in automatic.
Get the feel of driving your business back by relearning how to shift mental gears.
One of the ongoing challenges of any Mastermind Group is keeping everyone engaged and the momentum going between meetings. It's easy to get very excited at the meeting itself and generate a mountain of ideas. The challenge sets in after the meeting to keep that momentum going.
As the founder and facilitator of my groups I'm always looking to make sure we have the right members at the table, that everyone arrives on time, that the momentum carries through between meetings, and that there is group accountability. It is for these reasons that I have never cancelled a Mastermind Group meeting... until last night.
Yesterday afternoon, Toronto got hit with a major winter storm. The city was pummelled yesterday by 10 centimetres of heavy snow - whipped into a horizontal blizzard by gusting winds - along with sheets of freezing rain and thunder and lightning. As if that wasn't enough, winds clocked at more than 50 km/h outside tall buildings created devastating wind tunnels that knocked pedestrians off their feet. Taxi drivers were quoting a $100 flat fee for a ride out to the airport, more than double the normal rate. If you could find a cab in the first place.
With more than half of our members living outside the city, it would have been very challenging for them to safely come to the meeting and make it home without facing dangerous driving conditions.
What we did:
The snow started coming down at around 2:00pm, with a 6:30pm start time, it didn't give much time to act.
Each member was emailed and then called. Messages were left on multiple phone lines for the members I couldn't reach.
Members will stay with their current partners and email me updates on their goals so we can add it to the system.
Members will also get an extra month added to their membership so they are not penalized for the poor weather conditions.
Everyone was understanding and I will be connecting with each member next week to discuss their goals. You never want to cancel a Mastermind Group meeting but sometimes there are circumstances beyond your control that force you to act in the best interest of your members.
I'm looking forward to connecting with the members face to face next month!
Mastermind groups come up with new, fresh, thought provoking ideas that sometimes make my head swivel.
Some ideas are small, some are big, and some of them are off the wall!
Out of all of these great ideas, very few Mastermind groups follow through with their ideas. What? Isn't a Mastermind group supposed to come up with new ideas?
Yes. However, once you have all these great ideas, you have to act on some of them and develop them into your business or business model. I have seen too many groups not do anything with them. They just sit there on a sheet of paper, never to be looked at again. But all the members will go home and say "Man, we came up with some great ideas today..."
Here's a simple guide to what my Mastermind groups go through:
1. Brainstorming: Come up with 20-30 ideas and write them down on a sheet of paper. It doesn't matter where the idea came from, what it's about, or how silly it seems. All ideas have a place in business, it's just finding where they fit.
2. Think it through: Take some of the best ideas and develop them more. After you have your list of 20-30 ideas, agree as a group to evaluate 3 or 4 of the ideas. Find out how it can be implemented into someone's business by either a new product, a new service, or a new process to make business easier. Write this down and incorporate it into one of the group memebers business plan.
3. Take action: Finally, you have this new idea and you've put it into your business plan, what to do now? Take action! Utilize this new product, service, or strategy. That's what this is all about! See how it works for a month. Then evaluate if it's working as planned. If not, go back to the group and let them have feedback and modify it a little. If it's working, let the group know and everyone will be excited that their idea brought results.
Too many times I have seen Mastermind groups not do anything with the ideas that they've thought of and discussed. The best groups follow through with their ideas and turn them into action and results.
Darryl Dioso, a member of one of my Mastermind Groups invited me to be an expert for a LinkedIn question on Mastermind Groups. The question was:
What about mastermind groups? Do you have experience with them in your work or personal life and what successes did you achieve? Share your victories. (View the responses)
I answered the question using examples from my own groups. This was my first LinkedInAnswers that I have answered. Has anyone had experiences using LinkedIn Answers?
Pull together a somewhat like-minded group of folks. Throw in the collective desire to succeed. Now, combine that with the fact that most success-oriented people tend to want to reach out and help others, and you have the real power of a Mastermind Group.
Everyone has different reasons for joining a Mastermind Group. The knowledge and wisdom of the group, to me, is the biggest benefit. The ability to think with different minds is priceless.
Many Brains = Many Perspectives
If you have a magnifying glass focusing the Sun, you'll eventually get a flame. Add more lenses, and the flame comes faster. I experienced this first hand during a recent Mastermind Group meeting.
One member was looking for some options and guidance on approaching an influential person with their product. It was almost as if you could hear the gears turning as the members brainstormed ideas. Some were good, others were brilliant. Listening to the multiple brains tackle a challenge from different directions was incredible.
Each person had a different perspective on how to approach the goal -- perspectives that fed one another, and sparked other views. Ideas became refined, and polished by the group. Others were discarded respectfully.
The many minds offered more than just ideas. It created hybrid ideas that a single individual may have taken days or weeks to find out, alone.
Sharing knowledge is one of the many benefits of being part of a Mastermind Group. The opportunity to gain other perspectives - to think through other minds - can be a valuable tool for success.
Ellesse Chow writes the Goal Setting College blog. Her recent post 5 Tips to Daily Motivation discussed how to stay on top of your goals every day and move forward to achieve success.
Four of her tips are:
Develop an Energy Plan
Setup Little Reminders on Your Goals & the Whys
Listen to Success Motivation Cassettes, MP3s or other Materials
Visualize Living Your Dream Everyday
The 5th point involved Mastermind Groups and I thought I would share it with you:
Connecting with Your Mastermind Group Regularly
Napoleon Hill first brought forth the concept of a Mastermind Group in his 1937 classic Think & Grow Rich. A mastermind group is simply one that is made up of 2 or more people having a common goal. These people can be from different backgrounds and possess skill sets that help to provide leverage in the pursuit of your own goals.
In my opinion, if you're able to connect with a bunch of like minded folks and form a mastermind group where you're able to learn and tap on one another's knowledge, you'll be able to reap great rewards, one of which is constant motivation and encouragement from one another. For instance, if you're interested to learn public speaking, you can sign up for a toastmaster club within your vicinity. Mingle around and network, you'll likely find some folks very willing to share their knowledge and tips with you. Who knows, you may be able to team up with anyone of them to participate in a public speaking contest!
Nowadays, it's also very common to find online forums or communities of all sorts where you can register with so it's no longer just the conventional club that we're referring to. Just do a search in Google and you'll be directed to the forum of your interest. But remember, whether is it a brick and mortar special interest club, online forum or any group of friends with similar goals, it's important that you maintain the frequency of such contact. Too long a lapse is unlikely to bring any substantial leverage. Contribute your knowledge, experience and encouragement just as when you're receiving. Only then, you're truly living the spirit of Napoleon Hill's definition of the "Master Mind".
Reverse Mastermind? Okay, let me explain. The goal of being in a Mastermind group is to grow as a person. Groups with a specific purpose such as Entrepreneurs looking for ways to expand their business still incorporate personal development into their formula. They realize their business will only grow as fast as they do.
Different groups have different schedules for meetings whether it's once a week or once a month. What about the rest of the time? Personal development is an ongoing journey. Who are you surrounding yourself with on a daily basis? Who are you listening to?
As we grow we begin to see things differently. The people around us don't always understand what we're doing or why. Often times they try sabotage our growth. They aren't doing it on a conscience level but because they are stuck in a different mindset. It's very easy to lose our focus through the opinions of other people.
Often times we try to explain ourselves or get the other person to understand what it is we're trying to accomplish. Personal development is a choice that we cannot make for other people. The only thing we can do is distance ourselves from them. You may ask "How do I do that?"
You don't have to cut yourself off from everyone you know. We get comfortable being around certain people even though we know they are not on the same path. The thing is something begins to happen as we grow. Our internal change begins to grow outward. People can feel the difference when they're around you. For some that difference is unsettling.
You will begin to notice a "drifting apart" happening. That is a normal progression. Don't try to change it. There will be some people that you have to be around like family, just be aware of the time you spend with them. Keep your mindset in the right place. As you continue to grow you will start to attract like-minded people. People who are drawn to the positive energy you put out. I'm not talking about some strange mystical occurrence. Like Attracts Like. It's that simple.
Your weekly or monthly meetings are a great way to hone your focus. Re-energize yourself. Life is full of challenges. Your Mastermind can give you the energy to meet these challenges head on. Don't wait for your meetings to pursue your goals. Take action every day. Leverage what you learn and apply it to your everyday life.
Khiem is the blogger behind Kiss n' Tale. His most recent post was on How to be Happy and Change your Life. In it he has 8 strategies including:
Spend more time doing what you want and what you like.
Relax! Concentrate on what you can control, not on the things you can't control.
Love yourself.
Show some self-respect.
Act on opportunities that present themselves to you.
Be grateful.
Do more, think less.
And my favourite, in at # 8 is:
Surround yourself with people who inspire you. Whether they are friends, family, lovers or mentors, find people who can help you develop and expand your horizons. Humans are a social specie. We like to exist for people and through people. Be independent in your desires and wants, but become interdependent in executing and achieving your goals. If you've read "Think and Grow Rich" by Napoleon Hill, create your Master Mind Group.
Most of the Mastermind Groups that I've seen involve each member of the group coming to the meetings with different goals and challenges. They are hoping that through the collective experience and wisdom of the other members, they will get answers to their questions and strategies to help them move forward.
In reading the Transforming the Planet blog this morning I came across another use of a Mastermind Group - have everyone come together for the same purpose and same goal. As blog founder Julian Murphy puts it:
Recently I took part in a 'mastermind group' experiment. Mastermind groups are groups of people who come together and focus their energies on the accomplishment of a certain goal or outcome. The idea is a group comes together with a certain outcome or desired state. The group I worked with set the intention to see $25,000 come to the International Institute for Global Leadership in order to fund the project over the coming months. How? Well that's the funny part about setting the intention, the 'how' is not something that has to be known. All that must be known is the desired result. The details of how the outcome is brought about is left open, as putting limits on the method of deliverance can often get in the way of the result being achieved. Set the intention and each day spend some time visualising the desired outcome and soon enough the method of achievement will become clear.
Has anyone else had success with this kind of Mastermind Group?
Having created our latest Mastermind Group of 18 dental practice owners in January, we are beginning to see the group emerge and evolve.
Our first meeting in January followed the usual format of a working dinner on Sunday evening, a few social drinks in the bar and a full day meeting on the Monday.
To ensure that everyone had a voice, we split into two equal groups on Monday morning - after an inaugural session of all 20 (18 clients and 2 facilitators) we split into two board rooms and began the process of discovering more about each group member and addressing their business concerns and challenges on the day.
Since the meeting in early January, we have listened to feedback, positive and negative, from group members.
On the positive side they have overwhelmingly enjoyed the "tribal" element of the group - new relationships with clinical and entrepreneurial peers.
On the negative side, we were called to account because of the complete absence of an agenda for the first meeting.
Therein is a paradox.
We have facilitated Mastermind Groups for 4 years now.
In year 1 we had a strict agenda and clients told us that they felt too restricted.
In year 2 we had no agenda and clients told us that there was too little organisation (they came unprepared to the meetings).
In year 3 we tried a morning of structure and afternoons of free-flow - the clients told us that we had the balance about right.
In January we made the mistake (with a bigger group, 2 facilitators and a new dynamic) of leaving the day free to assess their needs.
A timely reminder that they want structure first (I suspect to give them a sense of being led) and then free-form (to stretch their wings).
Next meeting will be re-organised that way.
A pleasant surprise has been the success of our email group for MMG members only.
UK dentists are not as IT- savvy as their North American colleagues.
After a few test emails had arrived in everyone's in-box, they seem to have captured the potential.
Now - we are witnessing a healthy correspondence which focuses on practice management issues but is also drifting into questions on clinical equipment and procedures.
As facilitators, we can stand back from this conversation - largely because as a non-dentist I don't understand it (!) but also because they are quite happily chatting amongst themselves now but crediting us with forming the community.
One of our MMG members wrote to me a couple of days ago:
I am certainly grateful of how membership of your M.M.G. opens other doors and carries a currency with other coaches/groups and am becoming aware of the esteem that other people regard you with.
Now that's a very nice compliment for me - but also demonstrates another benefit of the MMG. This client had expressed an interest in building an investment property portfolio and, through the MMG, was introduced to a wealth coach, who is now working with him. I know the wealth coach, I introduced the first client to her some years ago!
The new introduction has been made without my knowledge - but I am still seen as the "source". My credibility grows - my client tells his peers how useful his relationship with me has been - and so the business snowball rolls.
Having found success with our email group - we are now looking at turning that into a properly managed forum, so that clients can follow the threads of individual conversations.
Oh - and did I mention the golfing group that spontaneously formed before our first meeting (at a leading golf hotel) and is now arranging further sporting encounters?
In honoring the Chinese New Year, I always go to my children's schools to give presentations, which include story-telling, crafts, videos about New Year traditions, and at the end the children get to do a little lion dance with a small lion head I have. It's a lot of fun for the kids and teachers.
One of the most popular stories I tell is the legend of Chinese Zodiac. This year, as I was telling the story, I thought of the valuable lessons we can learn and apply to mastermind groups.
The legend has it that Buddha was not feeling well one day, and the fairies were trying to cheer him up by inviting animals from all over the country to come to a party for Buddha. Thirteen animals were invited, including the cat and the rat, who lived on a farm together and were best friends back then. The cat wanted to take a nap, and asked the rat to wake him up when everyone was ready to leave. However, the rat did not wake up the cat, and the animals left without the cat. It was unknown whether the rat forgot, or purposefully did not wake up the cat.
So, all 12 animals got on their journey to see Buddha. When they were near the Buddha's house, they came upon a river. Now, the rat couldn't swim, so he begged the ox to carry him across the river. The ox was strong and kind, and he gave the rat a ride. They both got over the river safely, and the rat quickly jumped off the ox and was the first animal to reach the Buddha's house. The ox came in second. Buddha decided to name the 12 animals as the Chinese Zodiac to represent each year.
It was said that cat and rat became great enemies since then, because the rat cost the cat the opportunity to be one of the 12 animals of the Zodiac.
Now, what does this legend have to do with mastermind groups?
I think it's extremely important to pick and choose who you invite in your mastermind group. It could make all the difference in how successful your mastermind group is, and how successful each of your members in achieving his/her own goals.
Obviously, you would want to include more "ox" people in your group, i.e. those who will give you a lift and carry you through challenges, so that both of you will arrive at the finish line and achieve your goals.
Beware of the "rat" people who appear to be your friends, but would abandon you or sabotage you when the going gets tough, or because they are only concerned about their own success.
You might consider some of these characteristics when selecting your mastermind group members:
People who are "givers" rather than "takers" People who will get along and collaborate well with others People who are open minded People who respect differences and other viewpoints People who are committed People who communicate well People who are creative, innovative thinkers People who share and/or support your vision and core values
The biggest asset of mastermind groups is the people. By being selective about who you include in your mastermind group, you can greatly enhance your masterminding experience and success.
I was emailed this morning about the ManifestLife blog and an entrydiscussing How to Accelerate Your Success with a Mastermind Group.
In it, the author shares 6 tips for building your dream team and running a successful meeting. They have a slightly different format than what I use but I thought it would be worth sharing:
1. Your Dream Team should consist of 4-8 people. Most people find that 6 is the ideal number.
2. Meet weekly, if possible, for an hour to an hour and a half. This meeting must be held sacred as a life-enhancing priority. The meetings should be upbeat, enriching, encouraging and beneficial to each individual and the group's purposes. I always start our meetings with a prayer or an invocation. You could also start with an inspiring story.
3. Each member must agree to play all out & to openly share ideas, support, contacts, information, feedback, and anything else that will help advance the individual and group goals.
4. Start by having each member share something positive and good that happened since the last meeting.
5. Next, have each member share an opportunity or problem they have experienced since the last meeting and ask for whatever support they would like on it. Appoint a time-keeper to make sure that everyone gets the same amount of time. This is important if you want your group to last. Everyone must get value at each meeting.
6. End by sharing appreciations and acknowledgements.
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.
There are some very good reasons to not join a mastermind group. I'll share my 3 favorites with you.
1) You want to always be right - If you're only looking for validation that your ideas are good ones, then a mastermind group isn't for you. Expect that others will disagree with you about your ideas, in a constructive way. But if you need to ALWAYS be right, stay away from a mastermind group.
2) You're afraid to succeed - If success is something that scares you, then don't join a mastermind group. You're going to succeed in a mastermind group if you put the work into it to give status updates, to pick a group that supports your mission, and a group that has strengths different from yours.
3) You don't want to help others - If you're into being the "lone ranger" and don't want to help anyone else grow, then don't join a mastermind group.
Are any of these 3 going to keep me from joining a mastermind group? Absolutely not! In fact, I realize that I am wrong often, I look for success, and I love to help others.
So I'm still on the lookout for 1 good reason to prevent me from joining a mastermind group. Until I find it, I'll continue to be part of an amazing group of people that give me FAR MORE than they get.
[Phil Gerbyshak loves to achieve more and to dream more, and being part of a mastermind group helps him be more than he ever thought possible.]
It is important to set up ground rules when you start a Mastermind group. Having ground rules in place before the group starts is a good way to minimize or avoid trouble down the road. The Mastermind group (7 members) that I started has the following ground rules that we all agreed to before we began our first meeting.
Ground Rules - Start meetings on time. In the interest of keeping our calls to 75- 90 minutes, we won't backtrack to fill in a member who is late. If someone knows they will be late, they will inform the group or group leader.
- End meetings on time. We are all very busy and time is precious. In order to keep the meetings to 75-90 minutes we will need to keep to a time schedule (10 minutes per person) so that we can end the meetings on time.
- Absences - Notify the group if you will miss a meeting.
- Time limits. Each group member will have 10 minutes at each meeting. We will need to have a timekeeper at each meeting to keep us on track. If someone needs more time at a particular meeting it is possible to ask for another person's time.
- Confidentiality. We will all agree to keep the details of each meeting confidential. If we choose to share our own experiences in the group we can; however, we are not allowed to share details about another member's experience.
- Order of participation. We will rotate alphabetically the order of participation to make sure we are clear about who's turn it is.
- Respect. Only one person talking at a time. We will respect the person talking by listening and not interrupting.
- Leaving the group. If a group member wants to quit the MM group he/she will let the group know ahead of time.
- Terminating membership. If the group feels that a member is not participating, the group can decide to terminate the person's membership.
- Adding members. Before adding any new members, the group must unanimously agree to do so.
Meeting format Each person will have a turn to share and get feedback at every meeting. We will each have 10 minutes of mastermind time. During our ten minutes we will 1) update the group on our wins/progress, 2) ask for assistance/answers/support, and 3) announce our new goals. We will stick to 10 minutes per person.
These ground rules are just one example ground rules for a Mastermind group. You may want to use something similar or create your own from scratch. The important thing is that everyone in the group agrees to the ground rules. If you started your group without ground rules, it's not too late... you can create the ground rules and implement them now.
My MasterMind group is just getting started but I feel we've already made great strides. We three met during a writer's group monthly last summer. At each meeting we chatted with each other, discovering each other's interests in writing and our present careers.
Tammy is a counselor with a new parenting product to market for families. Laurie is a lawyer with dreams of publishing a young adult novel and a book about parenting based on Socrates' teaching. I am a full-time freelance writer with over 1,000 stories in magazines, books, and newspapers. I like to write travel articles, essays, and profiles of people.
Our writing interests vary, but our passion for success is similar. We all want to see our dreams come true. We plan to work hard and help each other by sharing advice and resources. Recently, we met at Tammy's office and watched "The Secret," which Laurie had purchased and already viewed. She had also read the book. She believed it was worth our time together to view it. after watching the DVD, Tammy and I agreed.
"The Secret" is a DVD describing how a person can begin changing his or her life for the better by changing her thinking. It features Jack Canfield (Chicken Soup books) and others who teach what the secret is that will help people live happier lives. I watched Oprah's show on February 8, 2007, as the people involved with "The Secret" talked about it. It was terrific.
I had already begun using the principles from "The Secret", which were first referred to in the Bible in Philippians 4:8: "Finally, brothers, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable-if anything is excellent or praiseworthy-think about such things."
It is a good rule and has helped me stay positive in difficult situations.
At our next MasterMind group we plan to share our newest steps to reaching our goals. Next month, I plan to have some sales to major magazines under my belt, made possible with the helpful suggestions of my Master Mind buddies.
What steps are you taking to reach your goals? I suggest you read the book of Philippians (4 chapters) and watch The Secret. Following the principles in each will help you find happiness.
Ever since I first seriously started working with a coach back in January of 2004, I've been keenly aware of the power of the pain vs. pleasure principle.
Simply stated, we will always do more to avoid pain than we will to gain pleasure.
In fact, my own coach was masterful in helping his clients to make changes in their lives - changes they hadn't been able to make for years. Indeed, lifetimes.
His approach was simply to get them to see that it was more painful to not change than it was to change. Usually all it took was a bit of the "Dicken's Process" - as in Scrooge. Scrooge would never change simply by looking at the pain in his past or present. It was the pain of the future, of seeing the consequences of holding onto his old ways that was the leverage he needed to make a shift - and it was a big shift indeed.
In the mastermind groups I have both run and participated in, we use leverage as a tool to maximize our success and productivity. But sometimes the suggestions our colleagues have made to help us grow our businesses are a bit painful to implement.
Write a business plan in a week?
Make 500 cold calls?
Send out 50 press releases?
Yet when we put leverage in place, we make it much easier to commit to getting the stuff done - Recent examples include:
"If I fail at meeting my commitments, I will..."
Give each mastermind group member $100 (or $1000 - whatever is painful to you!)
Go without TV for a month
Sign the title of my car over to my mother-in-law
Some members don't like using painful leverage as a tool, but can still benefit from the principle by using the flip side - putting rewards in place for getting stuff done.
Although I've received the most benefit out of utilizing leverage in a true mastermind group setting, I recently started a kick off to the week on eMoms at Home as a benefit to my blog readers (and to myself!). Monday Motivation Day is when we all commit to finishing a task by the end of the day, and put some leverage in place. Its simple community-building fun as we support each other in getting rid of procrastination and getting a great start to the week. Feel free to join us!
I was reading the Secrets To Success blog and found an interesting post mentioning 5 ideas to help you start a Mastermind Group. The ideas included:
1. Determine the size of group, and carefully select members. The group size should feel comfortable. Not too small and not too big. Select members for your group who will actively participate and bring value to the table.
2. Decide the frequency of meeting and agenda for each meeting. One group I was in had a very formal agenda for each meeting, with a specific topic for discussion. Another was less structured, yet focused. Determining "the rules" ensures that everyone in your group is accountable for success.
3. Be clear about expectations for attendance and behavior. Success comes from 100% participation. Without a rigorous commitment, the group will lose its power and sense of importance.
4. Always strive to be of service to others. Focusing on others first is the surest way to get the most out of your group. You will gain a great deal from participating in the group you help create, by choosing to give before you get.
5. Forget everything I just said, and build your inner circle organically. While I believe in the power of having a group that is committed to one another, I also believe in the power of one-on-one relationships and the advantages of hand picking your team over time. Honestly, either approach works. Perhaps you decide to have both.
It was a beautiful spring day about 15 years ago.As I walked down the hall in the real estate company where I worked, I was approached by Mike, a colleague.He asked me if I had a moment.Certainly was my response.Mike was an associate in the firm who I respected and valued. He was positive in attitude and active in his business. I enjoyed his company.
He asked if I was familiar with Think and Grow Rich by Napoleon Hill.I was and it is still one of my favorite books of all time.
Mike said that he was beginning a Mastermind Group based on his recent reading of Hill's book.He wanted to know if I was interested in helping create and participate in a group.I asked who else was being invited. He mentioned a few names of folks who I knew and several who I did not know.We chatted briefly about his plans and the day and time of the initial meeting.I was in.
Since that fateful day, I have constantly been in a Mastermind Group and plan on being in one forever.
What to watch out for.
I often begin my personal invitations just like Mike did. I ask if the person if familiar with Hill's book.I am continually surprised by individuals who have never heard of nor read it.In my opinion it is a must read for everyone.And I mean everyone.
I ask if they are interested in joining a Mastermind Group as described in Hill's book. If they ask general questions about size, structure, meeting time, meeting length etc, their questions are answered. If they are interested and agree, we are off to the races.Too many questions are not good.I don't want to have to persuade them.If they need to be sold, then we may do not have a good fit.Being open is a key as is trust.
New people are told that we are both on probation for 2-3 meetings.They can drop out with notice and no reason. We can ask them to leave with the same courtesies, notice and no reason.It is great to have a "getting to know you" period on both sides.There might be a fit or their might not.Fit is critical.
What I have learned
Find folks who are positive in their attitude toward life and business. Some are not.You are going to be spending lots of time (hopefully) in a relationship with those in your Group.Some things can be changed in ones life.Changing one's attitude is often a struggle and takes significant energy and focus. Choose your members wisely.
One of the major attributes that I seek is clear thinking.Clear thinking is very, very important.The invitees do not have to be geniuses.They just have to be positive, well spoken and clear of thought.Being well-read does not hurt either.
It does not matter, in my opinion, if they are in your industry.There are some potent advantages in having people in your Group who don't do what you do for a living.They can bring an outside perspective to your thinking.We often are blinded by the "normal" way of doing things.Outside observation can be and often is very, very powerful.
There will be lots and lots of give and take at Group meetings.Some of the conversation can be highly emotional.Certain individuals do not take criticism, even well meaning, very well.They believe that the only good ideas are their ideas.Watch out for folks like this.
Another consideration is to agree on the position held (or likely to be held) by the members.Are you going to restrict membership to for example, all entrepreneurs, or business owners.Or are trades-people, non-professionals ok too?You must reach an agreement and stick to it.In my opinion clarity of thinking is more important than job position.
What else
We have found that members must commit to the process and the Group.What goes on at Group meetings is extremely personal and private. Confidentiality is everything.Nothing leaves the room. Nothing.
Commitments must be kept to one's self and to the Group.Committing to be on time is very, very important.The meetings start at the time the group agrees upon.Period!
We also have a commitment to respect each other.No petty conversation or gossip.This is a professional group.
If you invite the correct people who are a great fit for the Group, you will form lasting friendships and move your life and business to new levels of success and achievement.
Krishna De writes a blog to help companies brand themselves and develop more business. Her most recent post dealt with how authors can effectively create and promote their books. In it she lists 5 key suggestions:
Create a powerful vision
Make the book real
Work with a coach
Impose a deadline
And the one I enjoyed most:
Mastermind with others - join or create a mastermind group with others who either have published their business book or who are writing their book. A mastermind group is great for support, advice and accountability so that you get your book written.
It just goes to show that whatever field you're in, whatever you are trying to accomplish, the Mastermind principle can be applied to help you follow through on your goals and achieve success.
I can't imagine going the "entrepreneurial route" all alone!Sounds like a contradiction in terms, but here's what I mean:while still building my own business and wearing the many hats until able to hire staff, my Mastermind groups are my cornerstones, my trusted advisors and sounding boards during this time of working alone.
I have had the good fortune of belonging to three different groups in recent years, two of which are still very important pieces of my life.The first was comprised of fellow church members where we supported each other in our life goals (mine at the time revolved around leaving my stable job and launching a business); the second is one with four of my colleagues from across the country in the career development field; and the third is a very small group of high-achieving women striving for continued success.One met weekly at the same location; the others meet bi-weekly via phone and in our homes.
My advice to entrepreneurs, especially "solopreneurs", is to find or start a group of "like minds" - those doing what you do or what you want to do and have similar philosophies and goals as yourself.Look for people who inspire you, make you think, and who are committed to their personal growth.Not only that, make sure they are committed to coming together on a regular basis to support you and others who share the same intentions. Not only do I have the Small Business Administration, the Chamber of Commerce, Community Colleges and other associations and entities dedicated to my success as a Small Business Owner, I have my own Mastermind groups to lend me personal expertise, opinion, and resources. They are my friends, my confidants, and my small company's advisory board!
Whether it's the fear of cold calling, being rejected by a client, or delivering a poor presentation (among many, many others!) every entrepreneur has their own set of fears.
A big challenge is that it is often these fears that hold us back from accomplishing the goals we set our for ourselves. We often under perform not because we're not capable of reaching great heights but because we are afraid.
This is where a Mastermind Group can help. Having peers support you, believe in you, and push you to be the best that you can be is a tremendous asset every entrepreneur should take advantage of.
As Cari Vollmer points out in the You got the power! blog:
Don't let your fears and doubts sideline you.
Have you had this experience: you set a goal for yourself, begin taking action to achieve it and then suddenly get stuck in fear, worry and doubt? What do you do when that happens?
Unfortunately for a lot of us we do one thing - we quit. We let our fear get the best of us and we bail. And when we bail we beat ourselves up, feel terrible and stay exactly where we don't want to be.
What's the solution? It's common to be faced with worry, fear and doubts on the way to your dream. It happens to everyone! One of the best ways to stay on track is to surround yourself with a support system, such as a mastermind group, coach, and/or supportive friends and family.
By doing so you create an environment that supports you and your dream. Even if the going gets tough, your support system will encourage you to keep going.
I was reading Confessions Of An Entrepreneur this morning and came across a new post on Mastermind Groups. It discusses the importance of brainstorming and accountability as well as lays out a sample agenda for your Mastermind Groups.
On Brainstorming:
Spend a set amount of time brainstorming new ideas. If you meet weekly, have a place to jot down these ideas as they come to you throughout the week and share them with your mastermind group weekly. If you have a phone or pda or mp3 player that has a recorder built in, this may be an excellent tool to use especially if you are in your car a lot. You'll see something or think of something as you drive and won't safely be able to write this down, but if you have a digital recorder of some sort, use it to make yourself a note... or even call your voicemail and leave yourself a message. Not every single idea will be something you act on or will ever come to fruition, but your million dollar idea shouldn't be one you don't remember because you didn't make a note. So, weekly brainstorming, like 15 minutes... whatever, but make this a part of every mastermind.
On Accountability:
I am a starter... not a finisher. I have about 4-5 pretty solid ideas about how I could make a lot of money. However, the ideas alone without the actual "do" part are worth very little. That said, the mastermind is great if you set specific goals of who will do what and set a date for the completion of those goals. As much as I'm a starter, I'm a doer when others are depending on me. With the mastermind, I will have some accountability where as an individual, I'm too lenient on myself and don't demand of myself all that I could and probably should. So, for most entrepreneurs, the mastermind opens up the accountability avenue and also will many times introduce someone into the mastermind who is the finisher and could make up where (in my case) I lack.
Sample Agenda:
- Welcome - Vision (re-affirm the vision / longer-term goals) - Updates / report on previous week's goals / accomplishments - Brainstorming / idea sharing - Application to existing project (new ideas / tweaking) - Determine goals to be achieved during next week / month, etc. - Accountability: who is responsible for what? - Refreshments
My mastermind group meets every Friday by telephone.The discussion is focused and we get much done in our hour long scheduled meetings.In between the intensity, there are moments of laughter, a little gossip and some conversation of questionable relevance.
Although the chit-chat is not strategic, the in between chatter is relaxing and serves as a tension reliever and warm up for any heavy discussion that follows.
The in between concept also carries through the week.As our members think about what has been said at the past sessions, new ideas and revisions of old ideas are passed around during the week in short e-mails.Announcements, breakthroughs and breakdowns are also relayed via e-mail.
The "in betweens" are what makes a mastermind group more successful since they provide continuity between scheduled meetings.In my area of specialization, the horse industry, horse trainers know the value of steady reinforcement "in between" training sessions.Whenever a horse is handled, brushed or blanketed, the ground manners training work previously done by the trainer is constantly practiced.It's all about reinforcement isn't it?
Make sure your mastermind group tends to the "in betweens" for the best results for you and your group.
Most people I've come across who run their own business have goals planned out for what they want to accomplish. They are really passionate about their goals and want to achieve them but for some reason never seem to get there because "life" gets in the way.
A large benefit of any Mastermind Group should be the Accountability Partner. If you commit to someone else you are more likely to follow through on your goals than if you just tell yourself. Having someone to push you and bounce ideas off of also helps.
Blogger Debbie Lousberg discussed this topic in a recent post of hers:
"Get support. Find a friend, coworker, or hire a coach to keep you accountable and moving forward. Check in weekly with that person to track progress and celebrate victories you have along the way."
By sharing your goals with someone and asking them to help you stay on track toward achieving them, it's not so easy to just shove them into a drawer for the next several months and hope they come true somehow. A little bit of self-induced pressure to meet a goal and keep your word with someone is great motivation! Choose this person carefully - someone who is objective, not too emotionally tied to you, and won't let you off the hook. Your "accountability partner" may be a friend, co-worker, mentor, coach, or even a small group of colleagues, such as a Master Mind group. Even better if you can reciprocate by holding them accountable to their own goals.
Make arrangements to meet or phone the same time every week to check in on progress and successes. As this person becomes more understanding of your goals and actions, they may be able to provide ideas, information, contacts, and resources as well. They become an important piece of your network.
HueinaSu recently posted to her blog about Building A Success Team. Among her suggestions to building the success team, she discusses: Accountability Partners, Calling in the Professionals, Coaching, and Daring to Connect.
Of particular interest to me was her thoughts on Finding the Right Crowd and Masterminding:
Be very careful about who you tell your goals and dreams to. You want to share your dreams and goals only with those who will support your vision, believe in you, and help you succeed. Sometimes as you make positive changes in your life, you would find that not everybody around you is happy and supportive of your new endeavor. Even your own family or friends could be "pulling your leg", because they might be jealous or afraid that your relationship will change. So, be very careful to keep your dream and goals only to yourself and those who you know will support you.
Jim Rohn, self-made millionaire and successful author, said "You are the average of the five people you spend the most time with". You want to surround yourself with people who are more successful, or at least as successful as you. You will be inspired by them and receive resources from them. Joining or creating a mastermind group is a great way to surround yourself with like-minded, driven, successful people that will propel you to higher level of success.
If all your friends want to do is complain about their problems, maybe it's time you make new friends. Don't get me wrong. Sometimes you do need to vent and release the emotions. But, there is a clear distinction between occasional venting and chronic complaining. If you find yourself in "The Whiners Club", get out of there and join a mastermind or support group instead.
Mastermind Groups are a great way to meet creative, innovational, and thought provoking people. You bounce ideas off of each other and collaborate and elaborate on each of the ideas. Some of the best discussions have come from seemingly "ridiculous" ideas, but once you start going through the process and discussing the idea, it actually creates a positive and energizing dialog.
What happens after you've been in the same group, with the same people month after month?
It starts to get boring!
There are a couple of things you can do to prevent this problem.
The first is to make sure your mastermind group is constantly introducing new people each month. With these new people coming in, there are constant streams of new thoughts and ideas. In larger groups like this, there are people from every industry that can bring in fresh perspectives.
I belong in one group that has only five people, and it will always only have five people. Once a month, we invite someone to come join us for a meeting. This type of meeting is just to let the guest come in and inject us with new ideas and playing devils advocate.
This allows our group members to think in new and different ways, keeping us sharp and focused throughout the year.
I've been involved with another small group like this (that didn't want to grow its membership) and it failed. It failed because after some time, we couldn't come up with more creative ideas to bounce off of each other. We had all come to "think alike" and in any mastermind group, this is not good.
Whichever type of Mastermind Group you join, you must make sure that they have a process of introducing fresh ideas. Hopefully these two tips will help you achieve just that.
Jim Meisenheimer wrote for a blog called Earth Science and recently posted his 15 tips for getting motivated and being successful in 2007. They included:
Analyze what worked for you and what didn't during 2006.
Establish personal and professional goals in writing and put them on a white board in your office
Create action plans for all goals with specific completion dates
Call your biggest and best customers and thank them
Coming in at # 12 was Getting involved in a Mastermind Group:
Get involved with a mastermind group which means starting one if you have to. My group, Masters Speakers International, of course we had to give it a sexy name, has been meeting four times a year for 10 years. My time with this group of talented people has made a huge difference in my life and in my business.
It's great to see a group that has been successful for over 10 years! If you're looking for motivation and success in 2007 why not try out a Mastermind Group?
Taye Adamo writes a blog called "WinnersGarden." The post she most recently put up dealt with The Importance of People In Your Journey To Success.
Your achievement or success this year 2007 would be determined by the kind of people you hang out with. What do they do? What do they belief in? What do they confess with their mouths? Are they negative or positive thinkers? Is their belief ingrained in impossibilities? Are they a bunch of mediocre? Are they inconsistently consistent in their thinking and actions? Who are their friends? What goals do they set for themselves? Do they belief in their own abilities? What are their philosophies of life? what do they wear? And so on.
Brian Tracy once said that: "you cannot scratch with turkey and fly with eagles"; you cannot relate with mediocre, uninspired and unfocused people and expect yourself to be different from them. It is either you associate with people that can lift you up or you go out with those that would drag you into mud.
This has important implications for your Mastermind Group. You can have the best system and structure in the world but if you don't have the right people in the group, it won't be a success. You need to surround yourself with people who empower you, compliment your areas of expertise and fill in the gaps you are missing, can help you step outside your comfort zone to accomplish the goals you set out, and can keep you accountable for actually doing what you say you are going to do.
I came across an interesting blog today called "Life Strategies For Today." Today's post was on "Mastermind Your Way To Success."
In it, the author asks what Mark Victor Hansen, Robert Allen, Anthony Robbins, Andrew Carnegie, Henry Ford, Thomas Edison and Ben Franklin have in common - the answer being they all participated in Mastermind Groups.
The author goes on to discuss a Mastermind Group experience and how one particular group works that I thought was worth posting:
In groups of 6-8 we brainstormed how to raise $10,000 in three days. The ideas were mind boggling. As we got more and more excited, our ideas became more and more bold. One group said they weren't stopping at $10,000. They wanted to raise $1,000,000!
I have been in my mastermind for a year now and I couldn't be happier. My business has hit an all-time high. And I credit the habit of masterminding with the lion's share of my success. Here are some of the qualities that work for us.
Keep the number small. My group is 4 people but we could comfortably increase to as many as 6.
Meet regularly. We meet by phone once a week to go over successes and challenges. Plus we put one person on the hot seat for special focus. Then we also meet in person for an all day retreat a minimum of 3-4 times a year.
Don't make anybody wrong. There is no such thing as a bad idea. As soon as you begin attacking the creativity of the mastermind, the ideas will shrivel up. Keep the brainstorm going and you'll be astounded at the new levels of insight you reach.
Treat each meeting as if you paid $100,000 a year to be a member. A mastermind meeting isn't a coffee klatch. The only way it can truly be effective is if everyone takes it seriously and shows up ready to focus.
A word of caution - be very picky about whom you choose to make this commitment with. You will likely be together for a long time. Make it a goal for 2007 to be a part of a mastermind team.
It seems like publishing books online is becoming a rising trend! Here's another version of Napoleon Hill's "Think And Grow Rich" online if you don't already have a copy of the book.
A recent post in the Warrior-Wiz blog got me thinking about how success is contagious.
I just got back from Maryland and spending time with Lloyd and Vicki and their inner circle mastermind group out there. I am currently in Nashville with Ed Clay, another one of my creative real estate financing students and we are looking at buying some properties today and helping him start his own inner circle group down here. Man it is exciting.
One of the things that constantly amazes me in our Mastermind Groups is how the success of one member breeds the success of others. Entrepreneurs often need a motivational kick in the pants to get going and move forward on accomplishing their goals. There's nothing like begin surrounded by a group of other entrepreneurs doing great things with their businesses to help you get yourself into gear.
If you're feeling like you're in a rut with your business, go out and find a Mastermind Group to join. One night with a good group can completely change your perspective and help you take your company to a whole new level.
"Individual commitment to a group effort -- that is what makes a team work, a company work, a society work, a civilization work." - Vince Lombardi
One of the downsides of being a solo entrepreneur is the solo part. I've been a home-based entrepreneur for pretty much my entire working life - 15+ years. A lot of that time is spent working alone. But there's great value in getting outside of your own head, and having the input and feedback of others. By enlisting the help of like-minded folks - who themselves are successful - you increase your own success. Just like hanging with a group of unmotivated sad-sacks can drain your own motivation - joining a group of those focused on success adds fuel to your own passion to thrive.
Enter the Mastermind Group
I've had the privilege of being part of several Mastermind Groups over the years. Each one brought its own dynamic and perspective. I've also recently joined a new group of masterminds that includes Chris Cree, Phil Gerbyshak, Kirsten Harrell, Kammie Kobyleski, Thom Quinn, and Troy Worman. The benefit of a Mastermind Group, particularly for the solo entrepreneur, is the diverse thinking, with a similar focus. It can be a sort of advisory board, where challenges that need more than your own thinking can be explored. A good Mastermind Group can offer growth, awareness, and new view-points. It's important when you work for yourself to get feedback and input from trusted advisors, and a Mastermind Group can be one of the best sources of guidance available.
Yet, the real power of a Mastermind Group comes from the commitment and participation of all the members. As you work on your own goals, challenges, and ideas, you provide support for other group members, offering your perspective, knowledge and guidance. This cooperative approach has many benefits over traditional "expert-on-novice" models of advising. As a participant, you are more likely to gain as much as you contribute, and the success of the group will grow as each individual grows.
Being a solo entrepreneur offers some of the best opportunities for real success available. And though a solo performance can be the highlight of the show, without the backdrop of the rest of the cast, it can also be a very lonely performance.
I was reading Chris The Prosperity Guy and his most recent entry on Mastermind Groups and how many people to start with:
The best way to start a mastermind group is to find one person at a time. My experience shows that this is a good idea. Form a two person mastermind group and then look for a third that both of you agree on and build it up to six or eight people.
From my own experience we haven't started a group with less than 4 people. You need a small group to make sure everyone gets along and can agree on the direction. You also need to have enough people to make it interesting and valuable. The whole point of having a Mastermind Group is to leverage the energy, experience, wisdom, and network of the people in your group.
We start our groups with at least 4 members and build to 8.
Mastermind groups are a wonderful resource to learn and grow. There may be different interests in different groups but the end goal is the same. Sharing knowledge and information should be the mainstay of any group. Some groups have very specific goals, for example a group of sales professionals may share information about marketing, customer retention and business building.
Mastermind groups are not always formal groups. Many people belong to local book clubs. They read a book together have a meeting and talk about a specific chapter. This ladies and gentleman is a Mastermind Group. The goal is to discuss lessons learned and different points of view in a friendly atmosphere.We all have set points of view on a variety of subjects. Mastermind groups allow us to see things in a fresh and sometimes surprising way.
Regardless of what type of Mastermind Group you want to join or start the goals and objectives of every one in the group should be the same. They are not a place to tell people what to do but rather give them the tools that they need to reach their goals. We are all individuals and have different needs.
One of the most important aspects of a Mastermind Group is the willingness to be coached, the right mindset. If you already think you know everything you are not needed in the group. You may disagree on certain points and that's alright, but that doesn't disqualify the point that is being made.
All things in their purest forms consist of energy, whether it's something tangible like your body or intangible like your thoughts. The energy flows all around us. In a Mastermind Group that energy affects the entire group. When you're participating in a group it should create positive energy. You should feel energized and ready to go. You will be able to take the tools you have learned with your group and the positive energy and start working towards whatever your goals happen to be.
The "Master Mind" may be defined as: "Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose"...Napoleon Hill
Kristen Marie Schuerlein writes a blog on designing a life that you love. Her recent post was on creating an inner circle or Mastermind Group to help you achieve the success you're after. Kristen notes:
None of us get to the top of the mountain alone. Why would we when it is so much sweeter up there being surrounded by friends?
She goes on to make 5 suggestions for people considering creating or joining a Mastermind Group:
1. Determine the size of group, and carefully select members
2. Decide frequency of meeting and agenda for each meeting. One group I was in had a very formal agenda for each meeting, with a specific topic for discussion. Another was less structured, yet focused.
3. Be clear about expectations for attendance and behavior. Success comes from 100% participation. Without a rigorous commitment, the group will lose its power and sense of importance.
4. Always strive to be of service to others. Focusing on others first is the surest way to get the most out of your group.
5. Forget everything I just said, and build your inner circle organically. While I believe in the power of having a group that meets monthly or so, and that is committed to one another, I also believe in the power of one on one relationships and selecting your team over time. Honestly, either approach works. Perhaps you decide to have both. The bottom line is understanding the power of surrounding yourself with people up to big things, and seeking to give to others. This is a secret to success.
Many people seem to have enjoyed my first post on Evan's site, sharing the "recruitment" letter that we sent out to invite members to our 2007 Dental Mastermind Group.
Last Sunday afternoon I drove down to Birmingham to meet for the first time with our Mastermind Group for 2007 - 18 dental principals who will meet quarterly for a working dinner and then a full day of coaching.
In addition we will offer them:
Unlimited email access to myself and my co-coach Simon Hocken;
An individual 30-minute coaching call, once a month;
A group conference call once a month and
A group email facility so that they can communicate with each other.
On Sunday we met in our hotel bar for pre-dinner drinks and, to my delight, the atmosphere was vocal and friendly from the very start.
This happened because some were old friends who have met at The Dental Business School (my core coaching programme) and others who have met on our one or two-day specialist workshops.
When we entered our dining room, I asked the hotel staff to stand back whilst I formally greeted everyone and asked them to stand and share with the group:
Who they were;
Where they were from;
A mini-profile of their business and
A little known non-business fact about themselves (my ice-breaker)
Dinner was fun and, again, vocal. I retired to my room at 10.30pm and heard on Monday that the last group of 4 left the bar at 1.45am (I had warned them not to get too much alcohol in their system so, thankfully, there were few fuzzy heads the next day - but don't lose sight of the social element - many of my clients are single-handed healthcare professionals who seldom get out to play).
On Monday (9.00am start), the energy in the room was immediately electric and full of anticipation.
We spent the first hour presenting to them – rules, boundaries and objectives for the group together with an explanation of the support services I mentioned above.
Then it was straight into 2 syndicates – one of 10, the other of 8 (because we have found that more than 10 is too many and less than 6 is too few.
They have in common:
Ownership of a dental practice
At least one year of DentalBusinessSchool membership.
When we first created MMG's 4 years ago I mistakenly believed that I would be required to come up with sparkling new "advanced" material to engage their interest.
But we quickly discovered they had heard "the basics" but not implemented them all.
So the MMG evolved as an environment for implementation of the standard stuff they had heard me present on the core programme.
The format is to spend approximately 30 minutes helping each client to deal with specifics - facilitated by the coach but helped by all the other people in the room.
Themes yesterday were:
I need to employ a full-time business manager
I need to do the Patient Journey basics
I need to do the marketing basics
I'm still overwhelmed and my task list just gets longer
We agreed that, in fact, there was only 1 "to do" on their "to do" list.
The only "to do" is to employ people "to do" the "to do's" on your "to do" list.
Delegate to a business development manager, do dentistry, communication and leadership and let others do everything else.
My favourite comment of the day (from a client) - "have you noticed that there is a tit in the middle of practitioner?"
As always, we spent more time with the earlier volunteers for coaching and, as the day progressed, time became a pressure – but the later delegates require less time because many of their own issues have been addressed in earlier conversations.
Although we nominally allocate 30 minutes per member, it is important to reinforce that the objective of the day is to be results-based and not time-based. If the members get the answers they were looking for in 30 seconds that's OK. Move on.
If a member has been coached but complains that there are "15-minutes of my time left" they may be unsuitable.
The day flew by - and before we knew it there were farewells until next quarter.
A truly inspiring experience - I love the "buzz" of the mastermind group - which is why I am looking forward to attending my own MMG(as a delegate) on Friday this week!
There is an increasing number of Mastermind Groups starting online. I personally haven't ventured online with my Mastermind Groups because I question how to get the same value and keep the commitment level high as with a face to face group. I'm still, however, curious as to the various ways people are using Mastermind Groups to grow their businesses.
An example I came across recently was to have an open group in the form of a Forum where each participant would post their thoughts and follow the following structure:
1) Once a week, someone starts a thread in the Business forum, entitled (Name) Business Discussion - John's Business Discussion, Neil's Business Discussion, etc.
2) That thread is to focus on ONE aspect, or one problem, or one concern that person has for their business. The only discussion in that thread - in John's Business Discussion thread, for example - will be helping John achieve, or overcome, or answer matters concerning John's business.
3) Every week a new thread begins on another member's business and special topic.
4) Each thread may continue as long as it has life, and as long as it remains on topic.
5.a) This will alleviate any leadership problems 5.b) This will allow everyone to post when convenient, thereby overcoming time differences 5.c) The discussion can go on as long as required (weeks, months), and is not limited by time in a chat session 5.d) Goals could be discussed, set, encouraged, followed up and adjusted over time
6) For those who enjoy and feel they can get something out of a chat session could call for a chat meeting as part of their discussion thread, and the thread used to report on, and discuss further the points raised in chat.
I'm curious to see if this gets off the ground and how it works out. It sounds great on paper - the challenge is getting people to commit.
I've got a lot going on in my life: I'm married, I do a lot of public speaking, I'm a published author and I'm working hard on my next 2 books, I'm the sole author at 3 blogs, and offer contributions to several others, I'm president of a few non-profit organizations, I've got a full-time job as a VP at a financial services firm, and I'm going back to school soon for my master's degree. And I'm sure there are things I've missed that also take up my time, energy, and talent.
So with all of this going on, why on earth would I agree to be part of a mastermind group, something that undoubtedly will take time, energy and talent in ways I can't even begin to imagine. I came up with 3 great reasons to join a mastermind group, and I strongly encourage you to find a way to join a mastermind group of your own, because these benefits FAR outweigh the time commitment that's required of a mastermind group.
Mastermind groups offer new perspectives. Have you heard the old saying, it's hard to see what's on the outside of a bottle when you're stuck on the inside? This is why mastermind groups are so valuable. You can team up with people that are outside of your life bottle and see things you couldn't otherwise see. Additionally, the folks you choose will have different experiences than you, and can offer new ways to handle issues that come up, and can help you by asking you great questions that help you find the answer to get through those times you are stuck and in need of a breakthrough.
Mastermind groups offer a built in accountability circle. When you share your goals and with someone else, you help them help you be more accountable for the outcomes. One of the best ways to achieve something is to be constantly reminded about it, and a mastermind group offers 4 or more people that can ask you where you are with your goal, and offer encouragement if you've fallen away from your goal.
Strength where are you are weak. Nobody is good at everything. That's a fact. Joining a mastermind group helps you fill in those weak spots with people who have strengths you're lacking, if you build the group strategically. Find people who are organized if you're lacking organization, who have good writing skills if yours are lacking, and generally are gifted in areas you are not. After all, it's a lot more fun working in our strengths zone than in our weakness zone, and if we work together, we can ALL be stronger.
If you are not currently in a Mastermind group, I suggest you take the initiative to start one.A Master Mind group is a powerful way for people to support each other as they get clear about their goals and define what they need to do to accomplish them. The idea is that there is a powerful synergistic affect when 2 or more people come together in a harmonious alliance to assist each other.
I recommend 5-8 people to start a Mastermind group.If a group is larger than this it can become difficult to manage time and still give each person a chance to share and ask for input at each meeting.A smaller group can run into problemsand lose energy when one or two people can't make a meeting.
One of the important points to consider when you are forming a Mastermind group is to make sure that you get a group of positive people who are goal-oriented and motivated.Negative people or people who are always saying "yes, but..." will tend to stifle the energy of a Mastermind group and can result in a less harmonious and productive group.
You might want to start by asking people you already know and trust to join your group.Then ask new members if they know anyone who would be a good fit.If you are starting from scratch, I recommend that you screen potential new members over the phone or in person to make sure they fit with the overall spirit of your Mastermind group.It is much better to discover a mismatch before accepting the person than to discover this once the group is rolling.
I started a Mastermind group by posting an invitation to join on my blog.I wasn't sure if I would get any responses, so I was delighted when I ended up with 6 wonderful bloggers (Chris Cree, Phil Gerbyshak, KammieKobyleski, Tony D. Clark, Thom Quinn, and Troy Worman) who were willing to join.All 6 write blogs that I subscribe to and read regularly so I had a good sense that we would all fit well together.
Our group decided to meet monthly via a teleconference call.The calls will be recorded so that each member can replay the meeting anytime they want.We will support each other between calls through email and a private online forum I set up in www.gather.com.
KayleenReusser is a writer and keeps a regular blog to discuss her business and thoughts. She recently uploaded a post on Mastermind Groups that caught my eye.
After hearing about Mastermind Groups from a Toastmaster member who discussed Napoleon Hill's famous book "Think and Grow Rich", Kayleen picked up a copy and immediately set up her own group.
Getting together with people like that on a regular basis to share dreams and work towards them together, offering encouragement and advice, should help your goals be reached, according to Mr. Hill. Plus, the group will hold us to be accountable to striving toward our goals.
She founded a group with a few members of a local writer's workshop she attended.
We're meeting about once a week for a few weeks to share notes and information we've found about goal-setting, then we'll settle into a monthly meeting.
She's looking to build the group to a maximum of 8 people (also the maximum we use for our groups).
I would encourage new Mastermind Group founders like Kayleen to put some structure behind the groups. What is the weekly / monthly agenda? How long are the meetings? What is expected from each member? Who will facilitate the meetings?
Making sure you have a set structure in place will keep the group on track and allow it to keep going once the novelty of the idea has worn off.
JemmaTurrell writes a blog on Power Selling. She recently wrote a post called Master Selling. It it she discusses how a person with a technology background can transition into becoming a professional salesperson. Among her tips are:
Learn to be comfortable interacting with others
Consider taking a sales course
Develop a strong level of self-confidence
Remember: Everyone is a salesperson
The one I enjoyed the most was:
Seek mentors who have been successful in sales or sales management. Use them to bounce ideas off or and share your enthusiasm for being in sales. In the classic sales manual Think and Grow Rich, Napoleon Hill advocates the use of a mastermind group. This type of support can be wonderful in an advisory capacity. Think and Grow Rich is one of the most successful motivational business books ever written.
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
Marisa Ladd is a real estate agent based in Springfield, MO. She's recently put together a Mastermind Group at her office with some of the other agents.
The group will consist of seven RE/MAX agents from my office, each with a different offering to bring to the table. I'm thrilled at the opportunity to learn from some very talented and successful agents, as well as share some of my own ideas.
They are taking a more structured approach where meetings are held once a month for one hour. Monthly mailings are discussed for 15 minutes. Then they will spend 30 minutes on 2 special topics every month which will vary. For example, in the first meeting Marisa will discuss the topic of blogging while another agent will share tax tips.
From my experience, it's important to have structure in the meetings. It makes sure that people show up on time and get value from the session. Unstructured meetings can frequently end up in long discussions on unrelated topics, uncertainty in what is expected of each member and can often lead to a group falling apart.
At the same time you need to do your research and change the structure as needed. When we first started our Mastermind Groups we looked at the various successful ones out there to learn what they did so well. We incorporated those ideas for our first meeting. As the groups grew we always take the feedback of our members to make the meetings even better each time around. The structure changes slightly as we make improvements but we do keep a strict structure so that everyone knows what to expect and gets value from the meetings.
Paula Gregorowicz writes a coaching blog and recently discussed the topic of New Years resolutions. She goes over her thoughts on why New Years resolutions don't work and what you can do about it mentioning topics such as setting the wrong goals and thinking that doing the same thing will generate different results.
She also touches on an issue that many small business owners face as they grow their businesses - having the right goal but not having the right support around them. Paula says:
Whether or not you already have a plan, you need support to achieve the truly big things. And, if you don't yet have a plan the right support can help you formulate one that works.
She goes on to discuss the Mastermind Group concept and how it can be used to surround yourself with people who will support your initiatives and help you achieve your goals:
Successful people know that you can't go it alone. Define what sort of support you need - who can help you and then go out and get it. You might need a friend. Maybe a group of like minded individuals (support group, mastermind group, etc.) is the right fit for you. You may also need professional assistance in the form of a coach, trainer, career counselor, financial planner, etc. The most important step is to define who you need in your life to be successful and then go out there and get them. Make that commitment and investment in yourself and it'll pay many dividends.
Many of the members in our Mastermind Groups know where they want to take their companies but don't know how to do it and don't have the resources, strategies, connections to take them there.
Having members who are coaches, trainers, career counselors, financial planners, etc. can certainly help provide you with some expertise on specific areas. You should also consider members who have either already gone through what you're trying to accomplish or have the skills / expertise / contacts to help you. For example, if you're very strong at creating your product but need marketing help, make sure that the other members of your Mastermind Group are strong in marketing. If you all have the same strengths and same weaknesses you won't get as much value from the group.
Alexis Neely writes a blog on family wealth planning. A recent post of hers discusses the importance of surrounding yourself with people who will support your goals and initiatives.
She writes:
When I started making changes in my thinking from negative, limited thinking to positive, abundant thinking, I too changed the people around me. And, when I wanted to make more money, again I found people who were making the kind of money I wanted to make and spent more time with them.
She also brings up the story of Mark Victor Hansen, author of the famous Chicken Soup For the Soul series:
I heard a story about Mark Victor Hansen, I believe. He was making about $2mm a year and had hit a ceiling. He was talking with someone who told him - look at the people around you. And, each of them was making around $2mm/year. Mark joined a mastermind group with people doing what he wanted - making $20mm a year and fairly quickly he broke through the barrier he had previously been experiencing. So, look around at the people in your life and consciously spend more time with people who have what you want.
One of the main benefits of being in a Mastermind Group is surrounding yourself with like-minded people who can help you achieve your goals and get you to where you want to be. If you're joining a group or starting your own make sure to carefully select the members so that they will be complimentary to your success.
Getting the right people is something that we take very seriously in our groups. We use a 3 stage screening process to make sure that the member is qualified and will be a good fit for the group. Make sure that you screen your fellow members and that they will be able add to your success and you to theirs.
Yanik Silver is launching a new Mastermind Group for Internet professionals / entrepreneurs. I came across his press release and he's got a different model from other groups that I've seen that I thought I would share.
The features include:
Three, 2-day meetings per year. Two will take place in Bethesda, MD (outside of Washington, DC) and the final meeting of the year will be in another location around the country and include an optional adventure trip (like Baja racing, rafting, sky diving, etc)
Six 15-minute 'one-on-one' pre-scheduled private phone calls with me personally every other month.
Two 30-minute '911-Emergency-as-you-need-it' private phone calls with me.
12-Months Underground Secret Society membership ($1051.00+ value)
Access to Yanik's private rolodex and joint venture introductions
AND...Attendance for you and one other (spouse, partner, key employee) to the annual Underground Online Seminar(TM). ($3,400.00 value)
His pricing structure is split into models:
Group #1 "Millionaire MasterMind" will be $5,000 on acceptance and $1,250 monthly (for 12 months) or you can pre-pay $17,000.00 and receive a $3,000 discount.
Group #2 "Six-Figure MasterMind" will be $3,000 on acceptance and $995 monthly (for 12 months) or you can pre-pay $13,000.00 and receive a $2,000 discount. Note: Members in the Six-Figure group will have first right of refusal to move up to the 7-figure group for future years.
The price tag is very hefty compared to most Mastermind Groups and the number of meeting is also very low. Most groups will meet on a monthly basis as compared to only 3 times per year.
It's smart to segment based on income as if your members are too far apart, the higher earning members often find that they aren't getting value from the group and it quickly falls apart. Nonetheless, I'm always interested in seeing how people are using the Mastermind Group concept and what packages they are offering.
Looking through "Think and Grow Rich" last year about this time, I reread the section about Mastermind groups. Like a lot of people, my copy of "Think and Grow Rich" is quite worn and is filled with inked in arrows, circles and notes highlighting the passages of importance.Napoleon Hill's section on mastermind groups always intrigued me when I read it, but Fear had always stopped me from forming my own mastermind group.
I was afraid of my invitation to join being rejected by potential group members; worse yet, a declination to join might also be taken as personal rejection.
I was afraid that some members would not provide the right kind of support and input to the group and the messy process of rejecting them from the group would be controversial and painful.
I was fearful that the project would die a slow death of apathetic neglect as enthusiasm dwindled by group members.
I wish my imagination for success was more powerful than my imagination for disaster all of the time, but at that moment about a year ago, my thoughts for the success of forming a mastermind group overpowered all fears of failure.
With the help of another member, we talked about and invited two others to be members of a mastermind group that met on a conference call weekly.We knew each other; not all of us had known each other for the same amount of time.
One year of masterminding weekly has provided these results:
Accountability to members who understand me and my business objectives.
A forum to whine a little and then be positively directed to move on.
Education about others' business problems which are common to all businesses.
Quick observations and suggestions from members in a spirit of helpfulness and camaraderie with no strings attached.
If you are thinking of joining or starting a mastermind group to help you in your business, the only thing you need to be fearful of is waiting another day.
Doug Emerson writes a blog about making money in the horse business.
Dave Lloyd recently wrote a post in the Center for Career Growth and Advancement blog about tactics salespeople can use to maximize their sales efforts. After discussing ideas such as identifying your sales strenghts, working with a sales coach, and generating sales leads, Dave moves on to highlight Mastermind Groups:
The final resource to consider is one not many people think of, but can be tremendously valuable. This idea was first proposed by Ben Franklin and popularized by (Napoleon Hill) in Think and Grow Rich. Create a mastermind of salespeople. This requires some work up front but could pay great dividends, especially if you don't compete directly and mutually respect each other. A group like this could have various forms - you could be local to each other and meet weekly, or connect online or by phone on a regular basis, you could all be part of the same industry but sell in non-competitive territories, or you could hire a coach among you to assist each of you in getting the most out of this process. It's been proven time and again that a mastermind group of similarly driven and focused salespeople could be one of the most beneficial things you do. Regardless, if you're committed to sales success, you must continually improve yourself using either motivational techniques, lead generation and prospecting resources, or outside support from coaches or mastermind teams.
Tim Knox wrote in the Internet Marketing blog about his desire to set a new path with his business and achieve new goals. Part of his plan to accomplish the goals he sets out is to form a Mastermind Group:
One of my resolutions/goals for 2007 is to start a mastermind group. As entrepreneurs, our resolutions often lean toward the business side of life. We vow to make more sales calls, to be nicer to our employees, to keep better records, to spend more time considering the bottomline - they are all resolutions you should be thinking about for the coming year. In our repentant little minds we believe that we can wreak havoc in our lives 364 days of the year and then on the dawn of the New Year come up with a bunch of resolutions that wash us clean of our sins so we can start fresh for the coming year. It's like being a human "Etch-A-Sketch;" just turn yourself upside down and shake vigorously to wipe the slate clean.
Tim goes on to outline how he is choosing members for his group:
When forming a mastermind group start with those entrepreneurs you know well and do business with on a regular basis. Choose businesses that are complimentary (not competitive) to your own, that service the same markets and customers. One of your resolutions should be to network more; to mix and mingle with other entrepreneurs who are in the same boat you are; to find mentors who are ahead of you in the game and can help pull you up to their level. I started by making a list of those entrepreneurs that I did business with in 2006 that had the most impact on my business.
Masterminding is definitely an excellent way to meet new people, build a support group, and set yourself up with the necessary base to go out and accomplish your goals. While Tim's approach to choose entrepreneurs that he does business can work it can also be problematic. You may not want to reveal intimate problems about your company with the people you do business with.
For our Mastermind Groups we typically have members who have not done business with each other yet. That being said, they end up doing business with each other due to the trusted relationships that develop and if you already have a core group of people who you trust and think can add value to the conversation, see if they would be interested in joining!
Fred Bardy has set up a Mastermind Group consisting mainly of marketers from different backgrounds. He wrote a recent post on what he looks for when bringing new members on board.
Who Should Attend? Fred wants people who:
Have a similar interest... yeah we play soccer together... and we be mostly Nigerians... how is that for a start.
Have a similar skill and/or success level
Have the desire and inspiration to make this year extraordinary
Want a supportive team of MasterMind partners
Want to reach or exceed their goals
Are ready to let their desire to be passionate about their life and work overcome their fear of change
Questions To Screen Applicants
Do you have a personal or business mission or vision statement?
What are your five-year goals?
Where will you find time to participate in the MasterMind Group?
What is your commitment to moving forward in your business and personal life?
Why should you be chosen to participate in this group?
A blog post by Lisa that I read recently brings home one of the key benefits of being a part of a Mastermind Group: having a supportive group of people to keep you motivated and provide valuable strategies to help your business.
Lisa is an instructor on investments and the day he started he took the smart step and:
met 2 other women from my area, and we committed to keeping each other on track during our learning phase of this process. After 18 months, the group has swelled to over 40 members and includes a daily chat for our mastermind group.
Many entrepreneurs find that they don't have anyone to talk to about their businesses. Friends and family want to help but just don't understand and aren't a good sounding board. This can be a key benefit of joining a Mastermind Group as Lisa points out:
I think that personally, the majority of my success has been because I sought out others who had the same goals as I did. My closest friends, even after 18 months of (me) trading and my husband no longer having to work, haven’t shown any interest in what I'm doing. Thankfully, I’m blessed with a very supportive family, but my new "family of traders" has been the best "investment" I've made overall.
I have consistently seen people in our different inner circle groups take what they are making a year and in a relatively short time start doing that a year. I just had a consulting session with a couple of people and we set some action plans in place where I think we will be able to add $20,000 a month to their income by making some small changes in what they are doing.
I think Jim Rohn has it right when he asks how long do you give your child to graduate from the 3rd grade? Well, one year of course! Well, do you think it is possible that a person change what he or she does and go from making $10 and hour to making $20 an hour. Of course you probably say. But could you do that again, and start making $40 a hour if you change some small things and increase the value of what you are adding to the value of the company? Of course you can. As a business owner there are several variables you can work on to make this happen - more customers, higher price items to sell, and frequency of purchase from your customers.
Well, how long do you give yourself to double your income? What can you do to improve just 10%? And how many areas can you improve by 10%? How often can you make that happen?
While some business people settle for a 10% increase a year, many of the inner circle members are looking at doing that a month!
What about waste and spending time on lower level activities? Well, do it backwards - divide by two. How long will it take you to cut your waste by half? This is where the most successful people are doing it - focusing on cutting waste and increasing profits by focusing on the most productive activities. This combine action plan produces more results in a quicker time than most people achieve in a lifetime.
Terry Bryan is one of our Independent Business advisors for the Glazer Kennedy Inner Circle and this article was to the point of the effectiveness of a good Mastermind if people will listen to you.
Janet Napora runs a network marketing business and her own blog. She's setting up a new type of Mastermind Group that I haven't previously heard of before.
She's calling it the Mental Cleanse and the idea is to have a group together for only 30 days. The purpose of the group, as Janet puts it, is:
Stopping all the negative chatter. Turn off the tv, the radio, the newspaper and the negative talk around us. Find out who you REALLY are. Reprogram your negative thinking. Many people are lacking success in there business or relationships or even their health. They don't think enough about themselves to think they deserve success and happiness. You can't always control what goes on around you but you can find positive like-minded people, a mastermind group, people who have the same goals and the same positive mindset you are trying to attain. You can't help but be touched by these people. The 30 day mental cleanse is a mastermind group, a group with similar goals. people who will not judge you but support you in your efforts.
It's a free group and open to "anyone who is ready for a change."
From my experience, free groups are hard to maintain the commitment level after a few sessions and if the group is left open to anyone you don't get the right mix of people with the same goals at the table. That being said, my groups run on annual membership and I'm curious to see how the 30 day concept works.
The concept of the Mastermind Group comes from Napoleon Hill in his now famous book, "Think And Grow Rich."
For those of you who haven't read it yet and are curious about the origins of Mastermind Groups, I came across a paraphrased overview of it concept in a recent blog posting:
The Power of the Mastermind
No two minds ever come together without thereby creating a third - a third invisible, intangible force that may be likened to a third mind. You may have noticed many times that by discussing something with another person you suddenly get good ideas as a result of the discussion, ideas you would not have gotten without this association. Well, the same thing happens to the other person. A lot of good ideas have been born in individual minds as a result of having met in committee.
Associating with your mastermind alliance is not meant as a means of letting others do your thinking for you, far from it. It is meant to stimulate your own thinking through the association with other minds. No one knows everything. The more sympathetic minds you get together - that is, minds working for a common purpose - the more related information is going to be available. Great ideas are a combination of related information.
Pick the members of your mastermind group with care. Make sure they're people you respect and who are hard working and conscientious. You'll have a lot of fun, and you'll reach your goals just that much sooner.
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.
Andrew Cocks recently wrote an article on 8 tips to get the most from your Mastermind Group. His main tips include:
Choose a good group
It should go without saying that the most helpful people will be determined to achieve the same essential goals that you hold dear. You also want people who will commit themselves to the group. It won't work if people are sporadic in their attendance.
Set and hold your first meeting
While some in the group may be familiar with the mastermind concept, others will not be. Explain what you see as the group's goal, how you envision the group functioning, the commitment the group will require.
It's not for everyone
It's not for everyone; and it's not for people who are out there only for themselves. You will spend lots of valuable time and energy helping the other members of the group, and you'll also be the beneficiary of the other members' creative thinking.
Set some sort of attendance policy.
Obviously, things come up, vacations, sick kids, business trips, but without an attendance policy in place, the smallest things will prevent members from attending. Agree on how many meetings members may miss.
Organize some form of structure for the meetings.
Without structure, the meetings have a tendency to be hijacked by more talkative members. Everyone will soon lose interest if only a few members have a chance to speak. Devise a meeting format and follow it each week.
Be action-minded.
Yes, the mastermind group is supportive of each member. But you're not there just to talk. You're there to strategize, to develop tactics and plans. You're there to take the plans you've brainstormed and put them into action.
Network for your group.
You'll find yourself in a position to help each other with business contacts. You'll know these people really well in a short time, and will be a great advertisement for them. Be generous with your match-making, open your contact list to the group whenever you can.
Keep your lips zipped.
This should be obvious, but as part of a mastermind group, you've been given a position of trust and should honor it completely. Loose lips are a horrible way to destroy your credibility and reputation.
Many of the great achievers in history used mastermind groups. Innovators in business, sports, literature, spirituality, all have a history of proving that the sum is greater than its parts. Mastermind groups are worth every minute you invest.
I'm always interested to see how people are applying the Mastermind Group concept to help themselves learn, leverage, and grow. My focus is on Mastermind Groups for small business owners but people are using them for all sorts of different initiatives.
One newly formed group I came across recently is the Value Investing Mastermind Group. It consists of 6 members who are all focused on trying to find undervalued companies on the stock market.
One of the concepts I like about this group is they've split up the members into research teams. It's a young group of people and the research component is needed to help them better hone their skills. A big component of this particular group involves gaining an understanding of different investment strategies so they have divided themselves into three groups of two in order to analyze a list of 50 companies and pick the top 10 that would fit their portfolio.
By breaking the work down and delegating the research they'll quickly be able to leverage the knowledge and expertise that the other members come up with thereby learning much more quickly that it would have taken each member to do it alone.
I'm excited to see what this group produces - and by the way, they're looking for two members to finalize the group at 8 (what I also recommend as an ideal group size).
As members of the existing Advanced Planning Group (APG) we are jointly writing to offer you a personal invitation to join the DBS Mastermind Group (MMG) for 2007.
We are making some important changes based on client feedback and I want to explain how the MMG will be evolving next year - and "what's in it for you."
The idea of an APG first developed in 2000, after The Dental Business School had been offered for 3 years and a number of clients were asking "what next?"
With my background in financial services, I knew that Mastermind Groups were successful, as a means for experienced practitioners to meet with a peer group and enjoy good conversations on how best to take their businesses forward.
I myself formed such a group way back in 1989 and 6 of us helped each other enormously for the 5 years that we met on a quarterly basis.
So in 2001 we created a new Dental APG and the demand was so great that we formed 2 separate groups, meeting in Manchester and Oxford.
Once a quarter we would meet on a Sunday evening for a working dinner - and then all day Monday in conference.
What worked best about these groups was the community and bond that formed between the members - life-long friendships were born and the attendees gained external feedback, ideas and opinions on their own plans for the future.
With hindsight, what worked less well was the decision to abandon "agendas" and allow each member to arrive at the meeting and simply ask "how can the group help me?" on any current and burning issues.
It's no surprise (with hindsight) that preparation was low or non-existent and so the conversations were often just about current "stuff".
By 2003 Chris's work commitments on both sides of the Atlantic were such that facilitating the APG was becoming a challenge - and so Chris invited Simon to become group facilitator and (say's Chris and the clients) Simon has done a great job for the last 2 years.
Feedback to me has been that the APG members have gained enormously from the group dynamic and from Simon's personal style of coaching - very narrow and deep!
We now come to 2007 and the result of a series of conversations between Simon and myself since August this year.
Our principal objective is to:
Work alongside you to ensure the future success of your practice.
Mentor/coach/train you and a small, elite group of like-minded colleagues, who are determined to stay at the leading edge of dental practice.
Provide leadership, management advice and contemporary ideas and solutions to meet the demands of owning a successful practice in 2007
The DBS Mastermind Group 2007 - proposals:
That the meetings continue on a quarterly basis - Sunday night dinner and a full day on Monday;
That Simon and I join forces - so that there are 2 facilitators for the group;
That we create 1 group of 20 practices (no more than that allowed);
As usual, membership is restricted to those who are Barrowed-up and we feel can make a positive contribution - that's why this is a letter and not just an ezine broadcast;
That we keep to one location for the year, that is easily accessible;
That the meetings are in 4/5 star hotels close to easy-access airports and road/rail connections - we have chosen the Forest of Arden hotel close to Birmingham airport, the NEC and the railway station;
That each Sunday night dinner is for all 20 clients and contains a formal presentation before dinner on individual progress plus a social element;
That on the Monday we split into 2 groups of 10 practices, to be facilitated one by Chris, one by Simon - so the group sizes are small enough to allow everyone to benefit;
That there are agendas for the meetings - focusing on advanced planning in each of the DBS 8 key strategies (presented by Chris and Simon) - as well as break-out sessions where individual members can bring current issues to the table;
That each Monday meeting contains a group round-up and summary of the key insights gained;
That each group member continues to send in Weekly Work Out Logs to Chris and Simon;
That we have a dedicated call-in day especially for MMG members, which allow longer duration phone calls;
That we have a dedicated monthly bridge call for MMG members;
That we create an on-line chat group so that MMG members can stay in touch with each other as well as their 2 coaches.
So that's our vision - and we are personally excited about getting back involved in moving clients forward.
I truly believe that this is a unique opportunity to take your business to the next level.
And remember that, as an MMG member, you can still attend any or all of the core DBS workshops for just the delegate rate - and you can send any team members to the core DBS workshops for refresher days or to get "Barrowed up" if they are new team members.
Your investment
In January, we are raising our fee for the core DBS programme to £6,000 plus VAT. As you know, you have the additional costs of staff wages and lost billable time to factor into this as well.
We intend to price MMG membership at the same level - that will be £6,000 plus VAT. Your additional investment here will be travel to the location and your accommodation for the meetings. Your investment in the MMG will include dinner on the Sunday evening.
As with the core DBS, you can either pay up front or we will arrange finance for your fees.
Early-bird discount
Payments received (or finance approved) before 1st December 2006 will enjoy 2 significant benefits:
1. An early-bird discount of 5% - your fee will be £300 less and 2. No Vat payable on fees received before that date.
So an early decision would save you £1350 on the overall costs!
Act Now!
There are only 20 places available in the DBS Mastermind Group 2007- and we already know of 10 places that have been reserved and invoiced, in addition to this letter to the 6 existing APG members - so technically we have room for you and 4 other practices and a waiting list of 15 who have requested further details - before we contact them we are giving you "first refusal" on places 11 to 17 inclusive.
For further details, or to reserve your place, please call Bonnie Mockett on 01326 377078 or email here on bonnie@thedentalbusinessschool.com
The term "Mastermind Group" was first coined by Napoleon Hill in his famous book "Think and Grow Rich." In it he explains it as a group of people who put their thoughts, ideas, and experiences together to create a synergy and compilation of ideas that benefits each individual.
I highly recommend reading "Think and Grow Rich" and came across a valuable suggestion from blogger Reg Gupton:
Read Think and Grow Rich to learn more about the Mastermind principle and many other ground breaking ideas that I have found so useful in my life. While re-reading my copy, dog eared, marked up, I recalled that for years I read this powerful book every year between Christmas and New Years. Every year when I revisited the book I took something new away. The book was the same and I was different. It is now in my reminder system to be re-read every year from now on. You should read it too.
I hope you take the time this holiday season to read the book - and if you've already read it, read it again! I certainly will be.
One thing to think about when you're setting up your Mastermind Groups is how long you want to be around for. There are many groups which are designed to run indefinitely. I've been fortunate enough to be around a few where the members have been meeting for over 20 years!
That being said, many groups do not last as long. A recent post in the eMoms at Home blog discusses the end of a Mastermind Group after 12 weeks in operation. The group got what they needed and the members are continuing on their own paths.
My own local Mastermind Group ended yesterday after a wonderfully insightful and productive 12 weeks. We had a wrap-up dinner last night and shared with each other the highlights of the time we have spent together, talking specifically about what we learned and what were our key takeaways from such a huge investment of time, love and work.
The groups that I run are setup as annual memberships. The entrepreneurs who join commit to being a part of it for one full year. You should do at least 3 months to be able to see some improvement with your business as the connections and advice you get begin to unfold in your company. I like the one year model as it really brings together the members and gives everyone a chance to get to know each other. The more you can understand the other people in the group, the better advice you can give them. The groups tend to form a little family of their own as we meet once a month and follow up via phone calls every week.
I would suggest having a timeline for your group. Test it out for 3 months and see how it goes. Is everyone getting value from the group? Are the members you have the right one for what you want to achieve? Are you learning and being challenged by the group? Hopefully you'll build a group that can last 20 years or more!
I've found that the ideal number of members for a group is 8 members. It makes sure that you have enough members with different backgrounds to bring value to the discussion. Usually when someone is explaining a challenge with their business, in a group of 8 members, 2 or 3 of them have already been through that challenge and have ideas and suggestions to help. If you don't have enough members to bring different experiences to the table it's not as valuable an experience. The idea is to leverage the expertise, knowledge, and connections of the members in the group so you need a good number of members to pull from.
Why we stop the groups at 8 is because with the intro brainstorming session and then everyone having 15-20 minutes to talk about their businesses, the meetings will go on for too long. After a 2.5 hours of intense discussion people begin to get tired and stop focusing. You also lose the intimacy of the group as it builds beyond 8.
I ran across a meetup event for women entrepreneurs that has Mastermind Group meetings open to the public. Events are $20 (you get what you pay for) and from the pictures attract over 20 members. With so many people you can't really get the value of a Mastermind Group - it could be an effective networking group, which carries a different purpose from a Mastermind Group.
Try to keep your groups large enough so that you get a variety of opinions and expertise but small enough so you can keep people focused and the intimate environment. For these reasons I've found 8 to be the perfect number.
Cameron Johnson is one of the hottest things going in young entrepreneurship. Now 22, Cameron has been featured in over two-hundred newspapers, magazines and television stations worldwide discussing entrepreneurship and small business success.
In a recent interview with Ralph Zuranski, Cameron touched on the importance of Mastermind Groups:
Ralph Zuranski: How important is it to have trusted friends or a mastermind group to bounce your ideas off?
Cameron Johnson: I think it is so important that you have trusted friends. First of all, if you have friends you can't trust, then you can't bounce an idea off of them. You have to be able to trust your friends, and your friends also need to be able to trust you, likewise.
I think a mastermind group is so rewarding, because it is not just rewarding to you to be the center of that group, but it is rewarding to everyone who gets to participate. I am a participant in several mastermind groups, and I have one myself.
It is so rewarding to just bounce ideas off for each other and help all of us move forward and be more successful. I think it is also probably one of the most important things you can do, and the most cost effective, to bounce an idea off of someone before you spend the money or go out and write the check to do it. So I think mastermind groups are so rewarding and so valuable.
Ralph Zuranski: Well, how did they make a positive difference in your life?
Cameron Johnson: I think they save you a lot of time! They save you a lot of time from trial and error. You can read books about things that have worked and things that haven't, and you can also ask people that have been in that exact same situation.
You can see what decisions they made and whether they would agree that they were the right decisions or the wrong decisions. You can use that advice to move forward, and hopefully to make better decisions in your life, and to save time.
Because we are only here for a certain amount of time, so we need to be as effective as we can be. So I think that is exactly how they can make a positive difference every day.
Creative Venture is a weekly podcast designed to bridge the gap between creativity and practical business sense. In their most recent post, they discuss the most common things business owners need to consider before getting up and going.
Among the recommendations are to seek support and set up a Mastermind Group:
Finding some support is a great way to stay on target. Enlisting a spouse, partner, or good friend to make sure you are sticking to your original timeline. Last week I mentioned forming a small group of creative entrepreneurs. You may have heard the term Mastermind Group, from Napoleon Hill's classic "Think and Grow Rich." It's basically a group of like minded folks who are interested in personal development and want to get and give support. Small workgroups of writers, artist, musicians, craftspeople, or programmers for example are a great way to get help working through the challenges faced by a creative entrepreneur.
Mastermind Groups can help business owners of all sizes - from startups to well established companies. It's important to keep in mind though that the members are all of similar sizes and can provide advice for each other. When some members are far more advanced than others they don't tend to find value in the group and it falls apart. Make sure all the members are getting value from the group to ensure an effective atmosphere.
Technology entrepreneurs are ahead of the curve with new products and tools and many of them are also picking up on the Mastermind Group trend.
A growing trend in Mastermind Groups is to bring together entrepreneurs within the same industry with each member having a different focus. For example, in the technology world, entrepreneurs can specialize in eBay, SEO, Internet marketing, blog marketing, etc and share knowledge and resources to help each other.
Tan Kian Ann writes a blog helping business owners make a living through blogging. He wrote a recent post about the importance of Mastermind Groups for technology entrepreneurs. It included:
We need to work in a mastermind group that consist of people that complement each other. Mastering everything is crazy. Members of a mastermind team also help to push each other to keep up with work.
I'm looking forward to seeing more tech focused business owners getting involved in Mastermind Groups and the trend expanding to other industries as well!
Jesse Boland recently wrote an article for home business owners to help them make more effective use of their time. Time management is a typical challenge with home based entrepreneurs and solopreneuers. Building a company beyond yourself can be a monumental task. Jesse's suggestions are to:
1. Find a mentor or create what Napoleon Hill calls in "Think and Grow Rich," a mastermind group. A group of people who meet regularly to game plan and work out answers to problems that they or the other members are having. This group can be in person or via an online conference room. These types of people will guide you with their own successes and difficulties the have faced in business and provide you with a reality check about the level of desire, commitment, and dedication you must have to build a successful business from home.
2. Stay away time wasters.
3. Make "Work Time" actual Work Time.
4. Just because you are on the phone with a prospect doesn't mean that they are the type of person you want to do business with.
5. If you find something that works, stick with it.
The main purpose of the Mastermind Groups that I run are to bring entrepreneurs from different fields together to discuss their business challenges. Each business owner must be from a different industry so there are no competitors in the room. In fact, we get the best results where members are from completely different industries and have a variety of backgrounds and skill sets.
Another popular way though is to create Mastermind Groups around niche topics. For example, if you want to improve your website's presence you can form a Mastermind Group for internet marketing.
One expert's suggestions on building an Internet Marketing Mastermind Group are:
Gather 2 or more individuals ( not more than 4 ) to meet, discuss and exchange pointers with your laptops in tow. Show and share with one another. This is probably the best and cheapest way to grow your knowledge among each other. Assign each person in the group to research and learn about certain aspect of internet marketing. Eg. for a group of beginners, 1 person to find out how to setup blogger blog, 1 person to find out how to register clickbank, 1 person how to buy a domain name and 1 person on how to buy hosting.
These groups work when everyone has a common goal and can split the research work thereby leveraging the time and abilities of your fellow group members.
The power of the mastermind group is unmatched, the search for its members, unending. There are only so many hours in a day and only so much information you can acquire yourself. Thus, you must rely on the skills and information acquired by others. Whether they provide the advice upon which you base your legal decisions or your financial ones, whether they can provide costing or sourcing information.
Anything that you venture requires is going to have to be provided by you. You must have a mastermind group in order to be informed enough to provide it.
You should therefore ensure that your mastermind group represents all areas of your business and that you can turn to them individually or collectively for their input at any time. One person can never hope to collect the knowledge that a larger group has spent years accumulating.
To further illustrate this point, your job as an entrepreneur, is to become the finest generalist you can become, someone who knows a little about each of the functions of your business. Your Mastermind group therefore must be made up of the finest specialists you know or can afford. On this point, specialist advice is not always cheap, so you should not be either. Hire and defer to the best. Put the leaders in their space on retainer if you must.
Ultimately your success in your venture depends upon the quality of the advice and support received from the specialists in your Mastermind Group.
The power of many is far, far greater than the power of one.
Getting the right members in your Mastermind Group is one of the most important factors in launching a successful group. Every member who comes to our groups is first screened through a 1 on 1 interview process. After that they are invited to a meeting as a guest to see if they fit with the other members.
The CEOConsultant blog had an interesting post that brought up some suggestions for how to find the right Mastermind Group Members.
The books you read and the people you interact with most determine 90% of your success. So surround yourself with successful, positive people. Join a mastermind group. It can consist of like-minded individuals all around the country where you talk by phone once a week.
Attend business and personal development seminars to find the right people.
Who are the people you spend the most time with?
What about their goals, values and priorities?
Do they have any goals?!
You are an average of the five people you spend the most time with.
Try this exercise: Add up their yearly income and divide by five. Most likely your income is within 10% of that sum.
You can spend time with people less successful than you and feel like a big fish, but as you discover your passion and climb the ladder of success, those same people will drag you down and discourage your dreams.
One of the greatest benefits of a Mastermind Group is to have accountability partners. In our groups, members pair up with each other and have a call once a week to discuss their goals. The idea is to have members push each other to achieve their goals as well as get new strategies on how to overcome obstacles. When you commit to someone else you are more likely to follow through than if you just commit to yourself.
The eMoms at Home Blog had a great post that mentioned the importance of getting an accountability partner:
Get an accountability partner No matter if I am working for myself, or working for someone else, every year I have a hard time focusing on work in December. It's one of my favorite times of the year and family comes first. But if you drop the ball too much now, you will go into overwhelm mode in January, and lose precious business opportunities along the way. Here is my simple formula for being accountable: Create consequences. If I don't do things on my "Must" list, my Mastermind Group holds me to my self-imposed leverage. Like I would have to give each person $250, or I would have to destroy a favorite photograph, or I would have to grow out my usually well hidden moustache (remember I am a mom, not a dad ). I actually feel far less stress when I don't procrastinate.
One of the author's suggestion is to form a Mastermind Group:
Years ago, some of the best advice I never took was "You can't succeed alone." It took me a long time to buy into this very simple concept. Today I belong to a Mastermind group that meets every three months. We've been doing this for five years now.
While his group doesn't meet as frequently as many Mastermind Groups (ours meet monthly with weekly follow up calls), it has lasted 5 years which is a testament to the value of having good members to help you achieve your goals and leverage the knowledge and experience of others.
A blog post I came across recently by protea discusses the seven traits of highly successful people. According to the author, successful people:
1) Love Themselves 2) Don't Procrastinate! 3) Have Focus 4) Have Money 5) Are Leaders and Thinkers 6) Have a Unique Ability to Adapt 7) Have a Support Group
Rarely are successful people hermits. They usually have the support of a mastermind group, an advisor, or a coach. Look at Tiger Woods – the man is ultra successful and arguably the greatest golfer of our time. He is still surrounded by coaches on a daily basis.
Successful people understand that having a team to develop ideas and move forward quickly, is key to their success. To them, synergy means 1+1=11.
I've gotten some of my best business ideas from the creative entrepreneurs around me. It's hard to operate in a vacuum and try to do it all yourself. By opening your ideas and challenges up to people around you, including Mastermind Group members, you can get a flood of suggestions, experience, and contacts that can help you get your business to the next step much faster than if you try to go it alone.
Alice Seba is an Internet marketing mother. In a recent blog post she wrote about how to work smarter and not harder. She explores the idea of how you make more money with less personal time invested in your business.
Her 4 key points were:
Value your time
Leverage the strengths and time of others
Implement Passive Income Models into your Business
Don't be afraid of technology
Smart ideas for any entrepreneur. A part of her "Leverage the strengths and time of others" was
"Being part of mastermind group that shares business strategies and experiences."
Kudos to Alice for realizing that as entrepreneurs we tend to wear too many hats and run everything ourselves. The more we can leverage others the faster we can build our businesses. Mastermind Groups are a great way to leverage the intellectual capital and personal networks that other members have spent years to develop. They can help put you on the fast track to success.
Phil Gerbyshak writes a blog on Making It Great to promote a book that he's written on the topic. He's recently started a virtual Mastermind Group.
Phil outlines what he sees as the benefits of joining a Mastermind Group:
It's one way to surround yourself with people who can help you, one of the chapters in my book. It's a way to reach your goals by having a group of people to help you achieve more by creating goals together, brainstorming ideas, and supporting each others' hopes, dreams, and inspirations. It also is a chance to get some honest feedback on ideas one might have, because you are being totally open and honest, and will share with each other in a spirit of growth, respect, and compassion. To say that I'm excited is a major understatement. I don't know what to expect, as I've never been part of a MasterMind group before. One thing is for sure: I'll learn a lot about myself and about some other unique folks I wouldn't otherwise have gotten to know.
An interesting component of Phil's group is that it is completely virtual. They will be communicating via conference call, Skype, e-mail, and other collaboration tools. This can be a big challenge as so much of the benefits of having a Mastermind Group is to be able to discuss issues face to face but it's not always possible if members are located around the country (or the world!).
A great step that Phil has taken is to get facilitators to run the meetings. Many Mastermind Groups fall apart because they don't have leaders with established roles.
I first profiled Michael Lang and his Internet Coast Mastermind Group last week as he was just getting the group started and was trying to attract members to the group.
In a recent update Michael now has 4 members in the group each with different expertise.
Michael: Writing and marketing Carlos: Marketing, SEO and Web work Albert: Web design/SEO skills Steve: TBA
The group was set up to share best practices on Internet marketing as the primary vehicle for the promotion and selling of a product or service.
Chris Barrow is a Business Coach that runs Mastermind Groups for UK dentists. I came across a post of his in his blog and asked him for details on how his groups work. He sent me a very detailed reply - Thanks Chris! Here are some of the highlights of the information Chris sent.
It's a year-long business coaching programme for dental practice owners and their teams
40% stay a second year (same programme) and 16% stay 3 years (same programme!)
Experience shows a minimum of 6 and a maximum of 10 participants
They meet once a quarter on a Sunday evening for a working dinner - and then all day Monday in conference
Meetings are held at 4/5 star hotels close to easy-access airports and road/rail connections
Each Monday meeting contains a group round-up and summary of the key insights gained
Each group member continues to send in Weekly Work Out Logs to Chris
Communication is kept high through a monthly call and online chat group
I came across a post by a UK blogger named femiy who works as a recruitment consultant and writes on human resources issues. He is discussing the value of joining networking group and mentions a book that Mastermind Group members might find valuable:
In Tony Buzan and Raymond Keene's excellent book on geniuses, it's titled, "the book of geniuses and how to unleash your own". They describe the makeup or characteristics of leading world famous geniuses such as Albert Einstein, Michael Faraday, Charles Darwin, Andrew Carnegie, Leonardo daVinci, Michealangelo, Abraham Lincoln, Dante Alighieri, Socrates, Plato, Achimedes and Aristotle to name but a few..One of the main features of life was that they were surrounded by brilliant minds or mastermind group as they put it in the book. For instance, Lao-Tzu had Confucius and Buddha, Plato had Socrates, Alexander the Great had Aristotle, and so on.. Bill Gates was not only surrounded by some of the brilliant minds on the planet he hired them too.
And so you see, this is a path well throudened, no need to re-invent the wheel. In order to get ahead in the 21st century job market, you need to surround yourselves with brilliant minds as well as contacts whom just might hold the keys to finding you your dream job.
A recent blog post by Michael Lang brought to mind the question of how to attract members to your Mastermind Group.
After looking around for any Mastermind Groups in the South Florida region and coming up empty, I decided to start my own. My experience has taught me that any group must have a strong nucleus if it is going to flourish and have any longevity. I put a notice in the Business section of the Sun Sentinel and hoped for the best. As the date I set for the first meeting approached and no one called I began to brainstorm on alternate ideas for recruitment. Then it happened! I received 2 calls from interested parties and will be meeting with one of them tomorrow to begin the process. His name is Carlos and he appears to be sharp and expressed a enthusiastic interest in getting involved with the group. I also spoke to Ben who works odd hours and cannot make this first exploratory meeting but asked for a report which I gladly will provide.
My ideal group would be highly intelligent and creative individuals who have at least some experience in the utilization of Internet marketing as the primary vehicle for the promotion and selling of a product or service.
Attracting members to a Mastermind Group has to be a function of quality over quantity. It's far better to start a group with only 3 members that are dedicated to the same purpose than 8 members who have different intentions.
The fit between members is also very important. Your group members can all agree on a common purpose, all be highly intelligent and ambitious, all bring great ideas to the table - but the group can still fail because the personalities of the members does mix well.
It's hard to get the right members with both the skill set and personality fit that you're looking for but when it does happen it can be one of the most rewarding experiences of your business career.
Our Mastermind Groups will typically start with a core foundation of members and new members will be added until we get to 8 in total. New members are subject to the approval of all the existing members to ensure there is a fit. New members cannot be from the same industry as existing members. Typically new members are also referrals from existing members as they are already comfortable with the group and know what type of people would fit from both a skill set and personality perspective.
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.
). I actually feel far less stress when I don't procrastinate. 
