Business masterminds are growing in popularity, and with good reason. They provide a learning experience that is unlike other options like business coaching, skills training, networking and business events.
But why are they so different and what benefits do they offer you as a business owner?
Here are seven reasons to consider a business mastermind if you are looking to take your business and personal growth to the next level.
A mentor once told me that we do two things in life. We do what we love, and we do what we are being watched on.
The trouble is, as leaders of our own business often there is no one watching. Therefore, some of the activities we don’t love doing so much can remain at the bottom of our agenda, even if we know they are important for our business growth.
A mastermind group, however, IS watching. They can help you to stay focused and
motivated as you take action towards your goals, and can help you handle any curve-balls life throws your way.
Being part of a group of like-minded people who understand your position, encourage you to be your best, give you perspective and solutions, and are by your side as you move through your blocks and overcome your challenges can be invaluable for leaders and business owners.
2. Collaborative Learning
How often have you thought “If only I understood xxx, running my business would be so much easier!”. Well, when you join a mastermind full of like-minded people with
complementary skills – the xxx – then, you’ll have a short cut to learning the skills you need.
Instead of having to learn everything about marketing, for example, and then figure which part you most need to understand and how to apply it to your business, your mastermind colleagues will be able to pick out just the strategies and tactics you need, based on their existing knowledge and experience, and show you the exact steps needed to implement them. And you get to do the same for them.
It's an exciting prospect. It accelerates your learning, it helps you to grow in ways that are specific to your business and growth plans.
3. Personalised Support
No one succeeds for long by themselves. Sooner or later, we all need support.
And when you have a group of people to turn to who have ‘walked a mile in your shoes’, the understanding and support they are able to provide is unprecedented. In discussing your business challenges with your mastermind colleagues, you’ll gain fresh insights, perspectives and learning to help you move forward with greater ease.
As the other mastermind members are also business leaders, they will also be able to help you work through and challenge your current thinking, and find strategies and tactics that are proven to work in practice.
4. Idea Generation
Most business owners are creative thinkers. However, when you have dozens of options, it’s sometimes hard to know which ideas are distractions, and which are worth pursuing.
Your business mastermind group can help you sift through your ideas, assess these against your goals and their experiences, and help you find your best way forward. They can also bring your attention to any ideas or gaps you might have overlooked.
Other priceless benefit of a mastermind group is their ability to help you generate ideas when the solution you seek is eluding you. By brainstorming options together, you can find better solutions than you would when attempting this alone.
Brainstorming, discussing and challenging ideas together can save you months of trial and error, and accelerate your business growth.
5. Sense checking and Feedback
Sometimes you’ve implemented a strategy and it has or hasn’t worked – but you are not sure why. In these cases your mastermind group can help provide you with the insights you are missing and can help pose the questions you need to reveal the lesson in your experience.
Similarly, your mastermind group can sense check and provide feedback on your plans before you implement them. Ensuring that you have considered all the options and have the strongest possible plan before you commit any time, resources and energy to it.
6. Resources and Connections
In my book, A Shy Girl’s Guide to Networking, I shared my belief that your network is the ultimate shortcut to achieving any goal. And since your mastermind group will form part of the inner-circle of your network, it is a powerful resource.
Due to the close-knit nature of most mastermind groups, and the fact that all members are focused on helping each other grow, you will likely benefit from some powerful resources, introductions and connections to support you as you take your business to the next level.
7. Celebrate Successes
It’s well known that it can be ‘lonely at the top’. And never more so when you’ve worked hard to achieve a success, but have no one around you who understands what has gone into that success and can celebrate alongside you.
This may be a small part of what a mastermind group can do for you, but don’t
underestimate the power of being able to openly celebrate your success and have others pat you on the back. It’s one of the fastest ways to grow your CEO mindset and confidence.
8. Courage to Think Bigger
When we work alone, we are restricted to using ideas and strategies that are based on our existing knowledge and experiences.
However, when you combine your experiences with those of other business owners and leaders, with differing perspectives, knowledge and experiences – you’ll have the ability to think bigger. And with the support and encouragement of the group, believe that ‘bigger’ is a real possibility for you too.
Is a Mastermind Group the Right Option for
While there are many powerful benefits to joining a business mastermind group, you should consider the following carefully before you join such a group.
- Someone who enjoys collaborating with others
- Willing to be open and honest with your colleagues
- Happy to share your knowledge, experiences, connections and resources
- Ready to fully commit to the success of the group, not just your own growth
- Able to dedicate the time to attend all sessions and participate fully
If you’ve answered ‘yes’ to all the above criteria, you then need to consider your objectives so you can find a group that is right for you.
- What stage of business are you at
- What is your core expertise and where are your gaps
- How much time can you dedicate to your mastermind group
- What is your personality
- What is your budget
- What are your goals and aspirations
- Do you prefer to meet in person or online, and how often
Once you know this information, you’ll be in a strong position to find the right mastermind group for you.
Dream Clients Flow Mastermind
My Dream Clients Flow mastermind has been designed to support women who have
an established service-based business to grow and thrive in business and in life.
I’m an experienced facilitator, trainer and coach with three-decades of experience in
marketing, communication and leadership. While it’s the members of the group who
provide the insights and advice in each hot seat session, where relevant, I also share
the benefit of my own experiences too.
Click here to learn more the Dream Clients Flow unique and intimate business
growth experience, and how you can apply.
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