A few years after starting my business, I joined my first mastermind group. I’ll be honest: I didn’t really know what it was, and I was actually a bit afraid to enroll, but everything about it just sounded right. After three years of trying to figure things out on my own and craving insight from other successful leaders, I felt deep inside that I needed to do this – scared or not.
Twelve years and numerous masterminds later, I am so glad I honored that feeling.
Aside from one-on-one coaching, nothing has propelled my business – and in many ways, my life – as much as participating in mastermind groups. And for the past six years, I have had the privilege of facilitating mastermind groups for high-achieving, purposeful women looking to accomplish a bold goal while honoring their values, serving their families and communities, and having a blast in the process.
What Exactly IS A Mastermind?
The term ‘mastermind’ was reportedly coined by Napoleon Hill in his classic book, Think And Grow Rich. He describes the mastermind as the ‘intangible force, likened to a third [master] mind’ that forms when two or more people working toward a definite purpose come together.
“When high achievers are asked about the one thing that contributed the most to their becoming a millionaire,” Chicken Soup for the Soul creator Jack Canfield recently posted on Facebook, “participation in a mastermind is their primary answer.”
Canfield went on to share a great, concise description of the mastermind:
“The foundational philosophy of a mastermind is that more can be achieved in less time when people work together – focusing energy, resources, knowledge, and insights on creating solutions and opportunities for one another.”
In the masterminds I have participated in as well as those I have facilitated, I have always, always found this to be the case. Participants experience tangible, goal-oriented results as well as something even deeper: camaraderie, intimate trust, and lifelong friendship. Some of my closest friends on the planet began as my mastermind partners!
How To Find The Right Mastermind For You
Masterminds come in all shapes and sizes: Some with revenue minimums and some without. Some with unlimited membership and some with a maximum of five people. Some costing upwards of $50,000 for the year and some for free. If you are considering joining a mastermind, here are a few questions to ask yourself:
What do I most hope to gain from my experience?
Before seeking out a mastermind group, decide what you want to gain from your involvement. Increased revenue? Completion of your book? To launch a nonprofit? Host your first live event? Friendship, laughter, and a true sense of camaraderie? People to bounce ideas off of and help you prioritize? Determine your mastermind goals, even loose ones, so you can ask about them before enrolling.
Who is leading the mastermind, and are they credible?
Don’t be afraid to ask the leader of your mastermind questions. Have they facilitated masterminds before? What kind of results have past participants experienced? What business or leadership experience does she or he have? This article may provide more ideas as well.
How much support can I expect?
How often will your mastermind group meet? Is one-on-one coaching also included? Is a discussion forum provided for questions between the meetings? Is your facilitator available to answer questions by email or during office hours? Will any training or content be provided? Know what will be available for you once you begin.
What do I wish I had in my work, business, and/or life – and can the mastermind provide it?
Over the past several years, my mastermind participants have expressed gratitude not only for the coaching and masterminding, but for unexpected gifts as well: “I loved knowing I had people I could bounce an idea off of.” “If I needed an extra set of eyes before hitting ‘publish’ on my blog, a Masterminder was always willing to help.” “I didn’t realize how isolated I had been as an entrepreneur prior to the Mastermind!”
What will ‘success’ look like to me?
As I mentioned, I have always found my involvement in masterminds worth far more than the investment – even when the investment was gasp-worthy. Part of that I credit to asking myself, prior to starting, “What will make me look back on this experience and say, ‘Yes, that was definitely worth it!’?” If your revenue increases to an amount more than the investment fee? If you end the program with a greater sense of clarity, confidence, or work/life balance? If you continue meeting with your mastermind partners after the program has ended?
A Few Additional Tips To Consider:
Pursue the best program you can afford, even if it’s a stretch. I have gasped with nearly every check I’ve written for professional coaching and masterminding, which continues to increase as my business grows. I have always received a greater return on my investment.
Surround yourself with brilliance. Jim Rohn famously said, “You are the average of the five people you spend the most time with.” Embrace the group that will encourage, uplift, share generously, hold you accountable, and challenge you to be your absolute best.
Make the most of it. Put mastermind event dates on your calendar right away and hold them sacred. Contribute to the private discussion groups. Engage in one-on-one calls with your mastermind partners. The cliche is true, you get out of it what you put into it.
Networking groups, book clubs, professional associations…you have numerous opportunities to grow yourself personally and professionally, and all of those are valuable (I have been involved in all of them since the start of my business as well). But none of those groups quite compare to the intimate, focused, trajectory-changing purpose of a mastermind group – I cannot recommend them highly enough! I encourage you to consider enrolling in one – even if it’s scary. Your future self will thank you for it!
We are now enrolling for our sixth Mastermind group, which runs from September 2018 – March 2019! Click here for more information and to request your application.