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Mastermind Groups, and how they help

Updated on December 30, 2011

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Mastermind groups are an excellent way to collaborate with like-minded people in order to reach common goals. Have you ever thought of being a part of one?

From the excellent suggestion of a couple very dear friends, I went to an intensive 3-day seminar. Each day was about 12 hours long, and I learned a lot of valuable information that I actively use today.

And though it is up to me to use those techniques in a way that will continue to benefit me, there is something else I came out of that seminar with that helps me accomplish those goals. What I am referring to is that I was placed with a group of people there that I to this day still keep in touch with even though the seminar took place more than a year and a half ago.

Mastermind Groups

Simply put, mastermind groups are support groups that you meet with regularly, whether in person or by phone, in order to help you accomplish your goals. They support you in that the groups are made up of like-minded people who are looking to accomplish similar goals. Some groups even support each other in accomplishing group goals rather than individual goals. Either way, they are a powerful tool (when used effectively) to help you reach your goals and potential in order to get a lot accomplished at a faster pace than when working alone. The reason why they are so helpful is because everyone benefits from each other.

How do you benefit from each other?

Though there are several ways in which mastermind groups can be ran and managed, I will share with you how each of us in our entrepreneurial group have benefited from each other in order to provide some examples:

Each of us brings in unique backgrounds and expertise in to the group.

One great thing about mastermind groups is that everyone will have different expertise, experiences, perspectives, and backgrounds. When that knowledge is freely shared with everyone in the group, then everyone benefits since they didn't need to take the time to seek out that knowledge elsewhere.

We help each other save time.

When one of us learns something new, we share it with everyone in the group. This equal sharing of knowledge environment makes it possible for us all to move forward at a faster pace since we all didn't need to take the time to learn that on our own. And, if someone else knows of a shortcut in addition to that, then that is also shared so that we all benefit from it.

Everyone can avoid mistakes.

If one member of the group makes a mistake or learns something 'the hard way', then that is also shared with all group members so that everyone else in the group is aware that's something to avoid. And though that means that someone did encounter something unfortunate, the person who made the error has the opportunity to receive help and support in order to correct it.

Accountability partners help you avoid procrastination.

When we accomplish goals, there are many of us who tend to procrastinate in sometimes rather astounding ways. But, if you work with a group of people that you regularly meet with, they will be looking to hear how your progress is.

Though that alone can be motivating, you can also use a part of your mastermind group meetings in order to ensure everyone states at least one goal they will accomplish for next time. The designated group leader for that particular meeting can jot those goals down for everyone, and the next meeting can start with checking in on how well they did or did not meet that/those goal(s). This can also help everyone realize that each person is an equal contributor to the group as a whole.

If that still is not enough of a motivator, then some groups may even go so far as to provide consequences for those who don't meet their stated goals on a fairly consistent basis. Though sometimes that can be financially related, the group can brainstorm to decide what that could be. Now I realize that some people may not want this type of group (and our group doesn't do this), but just think of what an awesome motivator that is to actually help you accomplish your goals at a faster pace as you know you will be held accountable in some way.

You can gain perspective and feedback.

When you are ready to unveil your accomplishments, you can submit your information to those in the group first and ask for honest feedback. This can be invaluable as it can provide you with new insights as to how something about what you created is being perceived thereby allowing you to make any necessary adjustments before making it public or otherwise finalizing it.

Support and focus are there during difficult times to help you realize you are not alone.

When we work on large projects, there are many of us who sometimes lose sight of the end-goal because everything seems so overwhelming, impossible and out of reach every now and then. There are also times when we start feeling as though we are experiencing information overload. It is during these times that you can reach out to your mastermind group and ask for some support to help remind you that your goal is absolutely 100% possible because others have done it. The group can also help you to take a step back to help you realize just how much you really have already accomplished, that you are not alone, and that you have many important reasons to continue rather than give up.

Being a part of a mastermind group can help you maintain focus.

Being able to maintain focus on one and only one thing at a time is important to achieving your goals. If you try this, then that, and then the other thing without ever following all the way through, then your goal(s) aren't going to get accomplished. A mastermind group can help you maintain focus on one thing at a time and even help you see what your next step towards your goal is as that's not always so easy to do on our own.

What to keep in mind about Mastermind Groups

Mastermind groups can be applied to any goal and/or business and can be formed for many different reasons. That said, you'll want to look for or form a group of people who:

  • Have very similar goals, ideas, and beliefs
  • Are around the same beginner or advanced level of each other so everyone is on 'common ground' -Note that though advanced people can help the beginners, it's not going to really benefit them enough to be a part of a beginner group
  • Have an agreement, even if it needs to be legally binding in some way, that there will not be any direct competition with each other
  • Have a commitment to the group and attend meetings regularly
  • Agrees to meet regularly as a group
  • Can keep the overall group size manageable
  • Keeps everything said confidential - this needs to be a safe and supportive environment for everyone
  • Speak the same language well enough to really understand each other
  • If meeting by phone, are on relatively the same side of the planet as you are for meeting time purposes -Note that with some types of groups, being in the same country may be beneficial due to varying laws
  • If meeting in person, can designate who will coordinate the meeting times and place(s)

So, now that you've learned a little more about Mastermind Groups, are you considering joining or forming one? Are you already a part of one? If so, I would love to hear from you in the comments section below!

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If you are looking for or would like to be a part of an internet marketing mastermind group that meets by phone and is U.S. based, our group currently has room for a member or two. If this is something you are interested in, then please contact me via my profile page. You can use the 'email me' feature located just under my profile picture to send me a private message about your interest in order to learn more about our free-to-join entrepreneurial group.

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    • toknowinfo profile image

      toknowinfo 

      6 years ago

      I never heard of mastermind groups. It sounds like there are some very good benefits to this. You wrote an interesting and different hub. Thanks for sharing your knowledge.

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