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Create Success: Start a Mastermind Group

Women business owners have one thing in common: they need peers to brainstorm with, to find solutions to thorny problems, make strategic decisions about the direction of their business, and hold each other accountable for getting things done.

It’s good business and good community building to have mastermind groups with your colleagues and even among your customers. When professionals come together to discuss what’s going on in their businesses, everyone creates success.

Jack Canfield, co-author of the Chicken Soup for the Soul series says, “I don’t know anybody who has become super-successful who has not employed the principle of masterminding. If you’re not already in a mastermind group, join or start one now.”

What Is a Mastermind Group?
Mastermind groups offer a combination of brainstorming, education, peer accountability and support, to sharpen business skills, action planning and decision-making. A mastermind group helps entrepreneurs achieve success.

Participants challenge each other to set strategic and tactical goals, and more importantly, to accomplish them. The group requires commitment, confidentiality, willingness to be creative, brainstorm ideas/solutions, and support each other with total honesty and respect.
Mastermind group members act as catalysts for growth, offering unbiased input, intelligent questioning, skill sharing, and support. This is the essence and value of mastermind groups.

Key Benefits for You

  • Brainstorming yields answers and ideas. The best part of mastermind groups is that members get immediate help with the challenges that are upper-most in their minds. In each meeting, you solve thorny problems, make better decisions, design powerful plans, and get into action around making those plans into a reality.
  • Tap into the experience and skill of others. Ongoing education is a must in business, but it’s hard to find the time to study everything you need to learn. Having a group of peers to brainstorm with gives you access to everyone’s knowledge, skills, experience, and best practices.
  • Accountability and real progress in your professional life. Your mastermind partners help you brainstorm action plans and set up accountability structures that keep you focused and on track.
  • An instant and valuable support network. You’ll gain tremendous insights which improve your business and help you grow as a business leader. Your mastermind group is like having an objective board of directors, a success team, and a peer advisory group, all rolled into one.
  • Regular time to work ON your business. Daily tasks, meetings and emergencies focus you on working in your business. Mastermind groups help you carve out time on a regular basis for thinking strategically about the big picture, and dealing with long-range goal and project planning.
  • A sense of shared endeavor – there are others out there! Many small business owners feel that they need an objective sounding board. By connecting with others at the same level outside of your own business team, you never face the “It’s lonely at the top” syndrome again.

Start a Group of Your Own
It’s easy to start your own mastermind group, and because you hand-select your members, you get to create a group with those on your “dream team.”
First decide what type of people you’d want in your group. Are there personality styles you work well with? Are there skill sets or experience levels that are important?

Next, decide how many people you want in your group. I recommend a minimum of four or five people. This allows for some members to skip a meeting without losing the power of many minds focusing on a situation.
Finally, decide where and when you’ll meet. You can meet in person, on a teleconference line, or in a video chat.

Go ahead and start a group today!

Karyn Greenstreet

Karyn Greenstreet is a small business coach and a mastermind groups facilitator, and the owner of The Success Alliance, a website devoted to helping people start and grow their own mastermind groups. She has been creating and running mastermind groups since 1994 and teaches classes on starting and facilitating mastermind groups.
To learn more about mastermind groups and how you can start one of your own, visit her website at www.TheSuccessAlliance.com

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