What is a Mastermind & Why Should You Join One?

Surround yourself with people who are going to lift you higher. — Oprah Winfrey

What is a Mastermind Group?

Per definition, a Mastermind Group is a mentoring concept through which individuals can form groups to learn from each other and grow together.

The core value of a Mastermind Group is the synergy of energy, motivation, and commitment as well as the willingness to learn and grow together. The idea of pooling many minds into one “master mind” has a long history. From ancient times to present, masterminds have been a consistent theme among the world’s most successful people.

The Benefits of Being in a Mastermind:

1. You Will Get Ongoing Motivation.

It’s easy to become side tracked and drawn into the daily non-urgent bombardment of emails and supposed crisis but everyday that passes in one of these blurs is moving you in the wrong direction. Being part of a group of likeminded positive people can help drive you towards your stated goals rather than away. It’s also easier to overcome challenges when you have the support and council of people you respect. It’s also more rewarding to celebrate your wins with people who truly appreciate your milestones. Humans are wired to connect with a tight nit group, share our experiences, and serve each other.

2. Gain an Alternative Perspective.

When you need to brainstorm, your mastermind can help you generate ideas.

Looking outside your inner circle, outside of yourself might seem scary or counterintuitive as YOU have built your business so far but other members of your group will bring their own experiences and their own knowledge to the table. This alternate perspective can often be illuminating and occasionally frighteningly obvious. Most mastermind groups include a dedicated portion of each meeting where members can bring up any matter that they could use input on. During this time you can get advice on anything from a new logo to a new hire, new goal or new investment.

3. Your Group Will Keep You Inspired.

Regardless of your goal remaining optimistic and positive is crucial to navigate the unavoidable bad days that we all face so surrounding yourself with successful and inspiring people is a must. Look for masterminds groups with people who have already reached your goal and/or with people with whom you resonate.

4. More Networking Opportunities.

A mastermind can give you access to people you otherwise would not have access to.

True Masterminds are not to be confused with Networking however as relationships form over time and a deep understanding of each other’s business grows, opportunities to work together for genuine mutual benefit appear. After all why wouldn’t you want to work with someone who understands your business and has a real desire to see you succeed. It creates a WIN WIN scenario.

Be generous about sharing your contacts during your mastermind sessions, and you’ll soon find that your group members are also open to doing the same for you.

5. You Will Supercharge Your Energy.

There’s no doubt that one of the best advantages to participating in a mastermind group is the energy that you can get from engaging with your group members. A great mastermind session can give you renewed focus and enthusiasm to face your week’s challenges and opportunities.

6. Constant Support.

We’ve all heard business can be lonely and it’s true, we often can’t speak to loved ones as they tell us what they think we want to hear. It’s not always prudent to discuss plans with colleagues or employees as they may be fearful of the result so who do we confide in about our hopes, dreams and problems? Asking advice from someone who hasn’t been through what you’re going through is also of limited value, for example if you wanted to learn about football would you ask Real Madrid or Louth United? The same is true in business, don’t be surprised if your non-business owner mate down the pub doesn’t give you a balanced view point. Your mastermind group can provide this level of understanding and support.

7. Planning & Strategy.

Have you ever spent a year following a strategy, only to realize that there was a better approach all along?

Having an awesome idea is great but without the right plan and strategy to make it come true, it’s likely to always be….. just an idea. Through the group mastermind sessions you’ll have a chance to strategise and come up with a plan to turn your dream into your reality. 

8. You’ll Accelerate Growth Through Accountability

Plans are awesome but pointless without action and remembering that imperfect action often beats perfect inaction isn’t always possible.

Accountability is the #1 way to push yourself to strategize your business, accomplish your daily tasks, and continue learning to further your growth.

There are three levels of commitment:

  • a commitment you make to yourself
  • a commitment you share with at least one person
  • a commitment you share directly to a group you respect

This is where a mastermind group really kicks into high gear and in my opinion where much of the value resides. Knowing that you are accountable to someone other than yourself can ensure that you implement the necessary actions to move both your business and your personal life forward towards your stated goals.

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