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What is a Mastermind Group?

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Whether you are stuck in a rut, on a plateau, or experiencing slow growth, a mastermind group can provide the boost in energy, new perspectives, accountability, and resources necessary to take your game to the next level.

It is the temptation of many entrepreneurs and consultants to try to go it all alone. However, as poet John Donne wrote in the 17th century: “No man is an island”. By tapping into the minds of several like-minded individuals, a group member experiences the following benefits:

- Accountability to think ahead and make a plan until the next meeting
- Accountability to act upon that plan
- Feedback and constructive criticism from others who want to see you succeed
- Insight you might not have otherwise gained
- Access to new resources
- Motivation to grow and avoid stagnation

It’s true, participating in a mastermind group takes time and energy, but the clarity and insight it provides is time well spent.

Published in: Business

What is a Mastermind Group?

  1. 1. WHAT IS A MASTERMIND GROUP?
  2. 2. A MASTERMIND GROUP IS SIMPLY A MEETING OF HIGHLY MOTIVATED FOLKS WHO SHARE A COMMON GOAL AND ARE LOOKING TO ENCOURAGE AND HELP EACH OTHER IMPROVE.
  3. 3. “Few things can accelerate you toward your goals faster than participating in a mastermind.” — Michael Hyatt
  4. 4. WHERE DO MASTERMIND GROUPS MEET?
  5. 5. IN PERSON ONLINE SKYPE | GOOGLE HANGOUT | GOTO MEETING PHONE
  6. 6. WHO INVENTED MASTERMIND GROUPS?
  7. 7. Mastermind groups have been around for a long time, but the phrase “mastermind group” was first coined by NAPOLEON HILLin his book Think and Grow Rich.
  8. 8. WHAT ARE SOME WELL- KNOWN MASTERMIND GROUPS THROUGHOUT HISTORY?
  9. 9. THE JUNTO Established in 1727 by Benjamin Franklin, The Junto initially consisted of 12 members who met together for mutual improvement by discussing moral, political, and scientific topics of the day.
  10. 10. THE INKLINGS In the 1930’s and 1940’s, a group of English authors met together to read and discuss the author’s unfinished works. Notable members include C.S. Lewis, J.R.R. Tolkien, and Owen Barfield.
  11. 11. NINE OLD MEN A group of Disney animators that were responsible for many of Disney’s hits from 1930-1970. Classics such as Peter Pan, Cinderella, and Alice in Wonderland were birthed in these meetings.
  12. 12. Whether the group is meeting for professional, political, or inspirational reasons, successful people have been meeting together in group collaboration for centuries.
  13. 13. WHAT IS A MASTERMIND GROUP AGENDA?
  14. 14. There is no one way to run a mastermind group. However, it is important to have a structure, to ensure that everyone’s time is respected and the group achieves its purpose of growth for its members.
  15. 15. SOME POTENTIAL ELEMENTS:
  16. 16. RECAPEACH MEMBER UPDATES THE GROUP ON HOW THEY DID ACCOMPLISHING THEIR GOALS FROM THE PREVIOUS MEETING.
  17. 17. HOT SEAT A CHOSEN MEMBER WILL SHARE DETAILS ABOUT THEIR SITUATION, AND ANY PROBLEMS OR QUESTIONS THAT THEY HAVE CAN ARISE DURING THIS TIME.
  18. 18. GOAL SETTINGSIMILAR TO THE “RECAP”, EACH MEMBER WILL GO AROUND AND BRIEFLY STATE THEIR GOALS FOR THE NEXT MEETING.
  19. 19. HOT SEAT SELECTION THE NEXT PERSON TO BECOME THE “HOT SEAT” IS SELECTED, SO THEY CAN COME PREPARED WITH QUESTIONS OR CONCERNS TO BRING BEFORE THE GROUP.
  20. 20. An alternative method that has been laid out by Chris Ducker is to distribute the focus during the meeting to each member (as opposed to a single hot seat).
  21. 21. IN ORDER TO ACHIEVE THIS, EACH MEMBER HAS TO SHARE THE FOLLOWING: Something that is working well for them. Something that they would like help with. A resource (website, app, service, blog post) to share with the group.
  22. 22. PRO TIP:HAVE WEEKLY MEETINGS, BUT TAKE A MASTERMIND RETREAT WITH THE MEMBERS OF YOUR GROUP ONCE OR TWICE A YEAR.
  23. 23. “Meeting for an hour a week or 90 minutes every two weeks allows us to stay up to date and hold each other accountable, but it doesn’t allow for deep understanding of each other’s businesses or comprehensive business planning.” -Barrett Brooks
  24. 24. WHAT ARE THE BENEFITS OF A MASTERMIND GROUP?
  25. 25. It is the temptation of many entrepreneurs and consultants to try to go it all alone. However, as poet John Donne wrote in the 17th century: “No man is an island."
  26. 26. By tapping into the minds of several like-minded individuals, a group member experiences the following benefits:
  27. 27. Accountability to think ahead and make a plan Accountability to act upon that plan Feedback and constructive criticism from others Access to new resources Motivation to grow and avoid stagnation
  28. 28. WHERE DO I FIND A MASTERMIND GROUP?
  29. 29. Twitter - Engage with people around a certain hashtag or interest topic. Tweet out that you are interested in joining a mastermind group for your particular niche.
  30. 30. Forums - Find a forum where people in your situation are hanging out, and look for mastermind opportunities there.
  31. 31. Blog Comments - I’ve read more than one interaction where someone comments on a post and asks for advice on joining a mastermind on that topic, and others follow up with similar interests as comment replies.
  32. 32. Facebook/LinkedIn Groups - Groups on these social networks are often a great way to meet like-minded people and look around for mastermind opportunities.
  33. 33. Conferences - By networking at conferences you can make connections with others interested in your particular niche, and looking to meet as a mastermind group.
  34. 34. HOW DO I START A MASTERMIND GROUP?
  35. 35. PICK A TOPICSTATE SPECIFICALLY WHAT THIS MASTERMIND GROUP IS GOING TO BE ABOUT.
  36. 36. PICK THE GROUND RULESWILL THERE BE CONSEQUENCES FOR SO MANY MISSED MEETINGS?
  37. 37. CHOSE THE AGENDAAN AGENDA WILL KEEP THE MEETING MOVING AND SHOW RESPECT FOR EVERYONE’S TIME.
  38. 38. CONCLUSION
  39. 39. Like many other successful entrepreneurs, you can elevate your success by starting or joining a mastermind group.
  40. 40. “I would not be where I’m at today if it weren’t for the mastermind groups that I’ve been a part of since I began doing business online.” — Pat Flynn
  41. 41. Whether you are stuck in a rut, on a plateau, or experiencing slow growth, a mastermind group can provide the boost in energy, new perspectives, accountability, and resources necessary to take your game to the next level.
  42. 42. MORE INFORMATION READ: WHAT IS A MASTERMIND? (RYANBATTLES.COM/POST/WHAT-IS-A-MASTERMIND-GROUP)

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