Why you need to be in a Mastermind
This week I am actively promoting a new Mastermind that I’m putting together, in collaboration with award winning coach Reg Lenney. It’s a project that I’m very excited about. If you’d like more information on that you can register your interest here.
The challenge I may have now, is that my view could be considered biased. And I totally get that. Of course I’m going to big up a project that I’m actively sharing. Which is why I’ve decided to give you everything you need within this blog post to start your own group.
I’m perfectly happy if you’d prefer not to join a group that I’m organising. However I genuinely recommend that you become a member of a group if you’re serious about maximising your own results. Or at the very least start your own.
You need a Mastermind in your life.
Masterminds are well documented as powerful environments to grow. Within this blog I will share everything you need to know to get the most from running/ attending a group. Whether we ever work together or not.
First off, let’s start with what a Mastermind is for the uninitiated, and WHY I think YOU should give it genuine thought.
What is a Mastermind?
Let’s begin with the definition I heard from the man who first taught me. Originally published in 1937 the concepts of Napoleon Hill’s classic book Think and Grow Rich are still valid today. And likely always will be as the principles of success are timeless.
He details the 9th (out of 13) step to riches in Chapter 10 which is titled Power of the Master Mind: the Driving Force. The following is quoted directly from that chapter.
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’.
No individual may have great power without availing him or herself of the Master Mind.
For this reason the Mastermind is always considered to be greater than the sum of it’s parts. As the collective energy of the group takes on a life of it’s own which surpasses the individual qualities of each contributor.
Who is a Mastermind for?
A Mastermind is ultimately for anyone who is looking to grow. Whether that be physically, emotionally, through business, or just financially for themselves.If you have big goals, and you’re clear on what you’d like to achieve, then the Mastermind concept is perfect for you.
Simple as that.
In fact, if you have clear goals for yourself, and you’re not in a Mastermind then you really need to question why? Because you’re missing a HUGE opportunity.
If you’re still not convinced yet, then I’ve expanded on this further below.
Why should I join a Mastermind?
If you’re still on the fence with why you should consider a Mastermind then here’s a list of reasons for you to consider:
- In a Mastermind you’ll create deep relationships with inspiring people. Typically when sharing ideas with friends and colleagues the conversation barely scratches the surface. Often you never really get to the nuts and bolts of what makes someone successful. When you participate in a regular Mastermind, where everyone is committed to growth, you’ll discover a deeper side to people. Learn what really makes them tick, and access the real secrets that got them to where they are. The real secrets are often not what you first think.
- When you find the Mastermind that is right for you, you’ll be surrounded by people that believe in you and genuinely want you to succeed. Many people with big goals find the road can be very lonely. As they strive to break through new levels they find themselves moving further away from their existing peer groups. Which can be positive if you have a new support network in place and you’re moving to new levels. And very scary if you’ don’t. If you want to go fast then go alone – but if you want to go far, go together.
- Within a Mastermind it becomes normal to tackle big scary goals that you have no idea how you’ll ever be able to achieve. When tackling new challenges you are able to call upon the group for ideas which you may not have considered on your own. Maybe a member of the group will have already achieved what you’re trying to do? Or maybe they’ll know someone who has, and are able to relay some of the strategies they used? Or maybe they simply are able to see the goal from another perspective and give you some great ideas that you may not have seen for yourself.
- When going alone it’s common to find excuses or put the next step off. However a good Mastermind group holds you accountable for the things that you said that you were going to do. Unfortunately, many people are scared by the concept of being accountable and hide from creating this kind of pressure on themselves. But we all know that sooner or later things are going to need to get done if we desire to move forward. When you’re in a supportive group you know that everyone is there to help you grow. They’ll do whatever it takes to ensure you make progress forward including holding you accountable to doing exactly what you said you were going to do. Having a group that you’re accountable to can be a real gift, so learn to embrace this opportunity and get those items ticked off your list on route to goal achievement.
- But ultimately in a Mastermind you’ll be surrounded by people who back you 100% and offer their experiences, knowledge, and creative faculties to accelerate your growth. When you realise how much further and quicker a good group will take you, you’ll wonder why you ever hesitated. In fact, many successful people label those that are not in Masterminds as crazy for not getting involved.
Things to know before starting/ joining a Mastermind
Hopefully if you’ve read this far you’ll at least be pondering the idea of whether you should start looking for a Mastermind. Or maybe even want to start your own. But before you get too carried away there are a few things to consider.
Why do YOU want to be in a Mastermind?
The first thing to take on board is that a Mastermind is a very proactive place where people invest their energies into the growth of all the members. If you’re going to join in be sure to know WHY you’re there. Know what it is that YOU are looking to achieve.
The last thing that a group needs is a lurker in the corner that doesn’t really know why they’re there. So make sure it isn’t you.
If you’re going to get involved then be sure to have a clear idea of what it is that you want to get out of the group. Know where you want to go and be prepared to ask for support with that endeavour. It’s ok if parts of the plan are vague, and you’re not sure how it will work. But know what you’re there to achieve and be committed to going after it.
Will you fully commit to the process?
To get the best from a Mastermind you’ll want to be around people that are fully invested in you, and committed to helping you succeed. In return, they’ll want to know that you’re equally committed to them.
So I’ll be very clear here. If you’re going to explore the power of a Mastermind please don’t do it by dipping your toe in and checking the temperature. Jump in fully and get involved! It’s the only way it will work.
This doesn’t mean getting yourself in a tight corner with any financial commitments of course, or putting your hand up for anything that just doesn’t feel right. I’m saying that if you’re in a group be 100% present, and add as much value as you can. Give yourself to the group and dive in.
You will only get back out what you put in. So make sure you’re looking for a Mastermind where you can go BIG, and behave that way, as someone who means business. This isn’t a game.
Starting a Mastermind Group
Let’s say you’re now fully convinced and you can’t wait to get involved. What do you need to consider to start your own group?
Decide on the purpose of the Master Mind
Whether you are just bringing together a group of successful people to share in the energy of each others achievements, or whether you are focused on building a group around a specific theme, you need to be clear from the start on the group you want to create. And of course – why you decided to create this particular group.
Get the right people together
Like any winning team, the chemistry of the group is very important. Getting the balance wrong can totally wreck the dynamic of the group and hinder any chance it has of being effective.
Once you know the purpose of the group you need to determine your own criteria for selecting appropriate members. You may leave the group open and base your choices solely on the attitudes and soft skills of individuals who wish to join. And if you’re building a Mastermind focused on a particular niche you may target certain professions, or skill-sets to form a complimentary team. There isn’t a right or wrong as long as it serves the intention of the Mastermind.
You will also want to give some thought to the size of the Mastermind group you want to have. Too few members and you may struggle to get enough perspectives shared. On the other hand, if you have a group that is too large then you may find it very difficult to manage.
The perfect group size is a matter of opinion. I’m aware of groups that favour a tight group of 3 to 5 members. And I’m aware of groups that only think a group is too large once it reaches over 12 members. My personal preference would probably be a group of 6-8 as that number allows for a range of inputs without getting too hectic. Though the intention of the group may affect this choice.
Establish the ground rules of the Mastermind
In order to coordinate a group effectively there will need to be some ground rules in place. This makes it clear on the intention of the group, as well as the conduct expected by all involved.
These rules may include:
- Regularity of sessions – How often the group is expected to meet, and where the meetings take place. It may be a physical event where members get together in person or an online event with attendees in multiple locations.
- Commitment expected – Some groups may be very open with regard to attendance, while some Masterminds may take attendance very serious. If a group has very ambitious and motivated members, they may take exception to those that cancel at last minute, or seem to bail if a better offer comes along. Punctuality may also need addressing if that’s important to the group too.
- The agenda – Who is in control of communicating the agenda/ chairing the sessions. In order to maximise the time together it is wise to have a plan in place for how that time will be utilised. This allows people to come to the sessions prepared.
- Etiquette – Part of the ground rules of a Mastermind is being clear about how everyone will contribute, and how members treat each other. My first ever Mastermind group were very strict about owning your own language when you contributed ideas. For example it wasn’t allowed to ever suggest that another member ‘should’ take your advice. Instead it was promoted that contributors own their own language and say ‘in my opinion’ or ‘if I was in your shoes I would consider this’. This way the group was never pressuring anyone into a particular course of action, but merely offering insights and suggestions that would help them move forward.
- Recording the session – It is up to the group whether they wish to have a record of the sessions. Some groups opt for minutes to be taken, though this can mean the scribe is so busy note taking they struggle to get full value from the session, and maybe don’t contribute as much. Equally there may be a decision to record the event. In which case everyone involved will need to agree to that, and be happy for that to happen.
- Protect each others information – As a group becomes more established and the trust in each other increases, more sensitive discussions may arise. These can vary immensely from very personal topics to the individual, to sensitive insights into their respective businesses. Generally it is accepted that Mastermind members are to respect each others information and not disclose anything that takes place outside of the meetings. While this is typically a standard expectation, if this is something you feel strongly about it would be wise to add this to the ground rules.
The power of the Mastermind is not a new concept. Its tried and tested, and has remained a staple of top performers since as long as we can recall. If you can get the right group together, under the right conditions it can be incredibly effective. You just have to be clear from the outset what the intention of the group is, the kind of people you want to invite to the project, and the ground rules everyone needs to abide by.
Many people have negative experiences with Mastermind groups at first as it can be an art to get the right group together and organise the sessions. But once members experience an effective group they rarely ever look back.
If you find it difficult to source the right people to Mastermind with, it may be beneficial to consider a paid group. Which typically attracts individuals who are more serious about the goals they are focused on achieving. Though there is no reason why you can’t get the benefits of a Mastermind without large investment. It just requires a group that are equally motivated, and in agreement on the details.
I hope in the very least that you explore the possibilities that are out there, and consider joining a group. If you are intrigued, but don’t know where to go next, why not consider Masterminding with Reg Lenney and myself.
To your success!
Thanks for checking out my blog and podcast. I hope you found the material interesting and insightful. Over the years I’ve studied many areas of personal development including life coaching and personal training, and I’ve built a strong network in the process. Through this blog and my upcoming podcast I’ll be discussing what I’ve learned, and how you can achieve the results you desire for yourself. Topics covered will include health, wealth, fitness, mindset and much more. To maximise the value I will be including some fantastic guests who’ve achieved big results in their respective fields. If you’d like to be updated with this content, and what I’m working on then join my mailing list today. Simply add your details below and I’ll make sure you never miss a thing.