When It's Time To Leave - What Worked? What Didn't?

Guest Contributor: Lorraine Cohen
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Last month I wrote about deciding to leave my mastermind group after 5 years. You might be wondering why. After all, 5 years with the same group suggests it must have been working well for me to stay so long, right?

Yes, and no.

What worked well?

- Trust was established early on so that we felt safe to be vulnerable with each other. That helped us to confront our self-sabotage and resistance.

- Diversity of our businesses and life experiences brought a wealth of insights, resources, expertise and potential leads.

- Many of the meetings were highly productive and motivating. Each time I left I was inspired and eager to take the next steps. In this group, I turned many pivotal corners to take my business out in a bigger way.

What didn't?

- Group size was too small at three. While adding new people was discussed, no move to invite others to join occurred. We missed out on having fresh perspectives and resources that would re-energize the group.

- Scheduling problems. Because we were so small, if one or two had unexpected conflicts, we scrambled to reschedule which sometimes made the times in between meetings too long.

- Certain basics of the group began to slide; having agreements written by the first day of each month, actual business check-ins started late and meeting times lengthened. There were times when we just wanted to socialize rather than to maximize the intent of the group. We got lazy too often.

- Accountability was inconsistent. Breaking of monthly promises and agreements occurred. I suggested weekly calls or emails to stay on track. The other members declined to add additional accountability.

As I read over this article, I realize that there were more things about the group that wasn't working for too long. Staying together had become too comfortable. We allowed our progress to be acceptable rather than challenging us to be our best.

I'm in the process of organizing a new group of six to begin in the New Year. I'm so excited!

Criteria For A Mastermind Group

I came across a press release today from the National Association of Women Business Owners who are recruiting for a Mastermind Group initiative.

There are two things that I liked about this release.

The first is that they outlined some of the benefits / criteria for joining which were:
--wish you had a board of advisors whose expertise and advice you can trust
--welcome support from like-minded business owners
--wonder if you're making the right business decisions
--would like to grow your business but aren't sure how
--want to feel re-energized and motivated

The second is the way that they recruit members. They hold an event to introduce the Mastermind concept to people. It's over breakfast where everyone pays for their own meal. Reservations are not required and it's a chance for the potential members to meet the organizers and understand how it works.

I always do my meetings one on one after the candidate has had a chance to review the website. I find that is it more personal and easier to screen to see if the candidate would be a good fit or not but this is an interesting approach and one I thought worth sharing!

Don't Go It Alone

Guest Contributor: Debbie Lousberg
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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!