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Get Feedback from Professionals

Being a business owner can be lonely. We make decisions in the quiet of our office, we connect with people behind email and avatars. We can’t discuss new projects with our employees or team members because their roles are focused on helping to move a project along, not to create the vision.

In a Mastermind Group, you can pitch your idea to the group and get immediate feedback – most often that feedback is based on solid experience. Whether the feedback is negative or positive, there is opportunity to discuss and flesh out the idea and feedback so you can make a better-informed decision.

Learn From Someone Already Doing What You Want to Do

There is no better teacher than one who has already done it. And, while they made mistakes and you’re likely to make them as well, you can get guidance on how to navigate the path you’ve selected.

Share Successes

There’s nothing more deafening than the silence of celebrating a victory alone.

Be it big or small, sharing a success or win with a group that has a stake in your success is exhilarating. The group members love to hear the story and are anxious to be a part of the celebration. Why? Because they’ve been with you along the way! And you can share in their stories and their successes.

Accountability

It’s in our nature as humans to need to ‘report’ to someone.

In the beginning years of business ownership, it can be exciting to have no one to report to, no one to tell you what you can or cannot do. As time passes, discipline can slip. The initial reason for starting the business may have been strong but now it isn’t. When you reach a plateau it can be easy to get complacent. That’s tough to do when you belong to a Mastermind Group. It’s more than just writing down and goal and saying it out loud. If you’re part of a group that’s been meeting regularly for quite a few months or years, then you will feel obligated to report to the group on your progress.

The Members Need You as Much as You Need Them

Being a part of a Mastermind Group includes being a responsible member. You must be an active member to get the most out of your experience. How? By showing interest in the other members’ successes and failures, showing up as an accountability partner, offering your feedback, experience, advice, and guidance at group meetings. 

Free or Paid?

There are pros and cons for both.

The free usually doesn’t have a strong leader or structure, so that means members decide the ‘rules’ and can change them according to their needs. 

The paid have a leader/moderator and structure. If members have questions or concerns, they’re brought to the leader for resolution. The fee paid is for a few things – access to the level of professionals you’re wanting to meet with, an agenda that ensures that you are just as important as the other members of the group, the meeting room (if meeting in person), the virtual meeting program (if meeting online).

How to Find a Mastermind Group

Determine what you want from the group and if you can give the same in return.

• Is it business guidance and growth?
• Is it personal development?
• Are you in a specialized industry such as IT, Finance, Insurance? Maybe you want to find a group of professionals in the same industry.

Begin the search for a group:

Ask someone you admire if they are a member of a group. If they are, ask if you can join. If you aren’t eligible, ask for a recommendation to another group.

Search online and carefully read the descriptions of the groups you find.  

Whether you find a potential group online or through a recommendation, contact the leader/owner of the group and ask the following questions:

1. How is the group run?
2. Is there a limit to the number of members?
3. Is there a time limit for each member to discuss an issue/ask a question or is there a scheduled ‘hot seat’ opportunity?
4. Are there ‘off limit’ topics?
5. Does everyone participate in every meeting?
6. What is expected of the group members?
7. How are personality clashes or member conflicts resolved?
8. How are payments handled?
9. How are complaints handled? (if it doesn’t meet your expectations)
10. Are there testimonials from current or past members you can see?
11. What are the membership requirements?
12. Is there a formal member agreement?

Action Steps

1. Write why you want to join a mastermind group and what you expect to give and get from being a member.
2. Write the names of people you view as role models. 
3. Contact the people on your list and ask if they are a member of a mastermind group or know of one. 
4. Search online for a mastermind group to fit your needs.
5. Make note of the type of groups your contacts share with you, what you find online, and the structure/rules/costs for each one.
6. Select a few that you would like to be a part of, contact the owner or moderator of each one and ask your questions. 
7. Join a group