A friendly alliance with one or more persons who will encourage one to follow through with both plan and purpose.

Napoleon Hill, think and grow rich
An acccountability group that helps individuals set, pursue and achieve their goals.

Masterminds

Notes

Reasons to Join a Mastermind
1. Inspiration: Unless you’re completely closed minded, there’s no way to avoid learning and growing when you spend an hour a week with awesome people doing awesome things. Just hearing their stories and successes will make you dream bigger and push yourself harder. Even better, you’ll have a sounding board and support network to ask questions, offer perspectives, and suggest solutions or connections you’ve never considered.
2. Focus: a mastermind group appeals to you, it’s probably because you’re a big thinker and your brain is always racing with ideas…to the point of overwhelm. Preparing for my 10-minute block of the meeting each week has forced me to break my big, scary goals into manageable, bite-sized strategies that are actionable on a weekly basis. Thanks to these meetings, my business plan has become clear and less formidable.
3. Accountability: Some people are great about setting goals and sticking to them without external support. I’m not one of those people. Having other people checking on my progress each week helps me get shit done (I don’t want to the only member who didn’t meet her weekly goals!). This isn’t punitive; it’s positive. We offer gentle reminders and always celebrate successes.
4. Community: If you work from home, a mastermind group is a great way to avoid feeling isolated and feel like you’re part of a team. No matter your circumstances, you’ll benefit from having a small, reliable group of supporters and advisors in your corner. Also, although the point isn’t cross-promotion (as with a BNI or similar group), there will be natural opportunities for partnership and network expansion that can help you move forward in your goals and career.
5 Signs of a Bad Mastermind Group
1. Haphazard: A bad mastermind group accepts anyone and has no formal structure. It’s important to that members are chosen intentionally. That could mean everyone is at a similar stage of business, in non-competing industries, or serving similar demographics. It’s less important how people are selected than it is that there is a formal system for vetting to make sure everyone to make sure all members are of the same mindset. There should also be group guidelines in place that outline the group’s mission and structure so every member is on the same page.
2. Quiet: A bad mastermind group is filled with members who don’t show up or don’t contribute. A commitment to the group and the process is essential for a mastermind to really work. If only a few members do all of the asking and answering, the group is falling short of its full potential. Having a facilitator who monitors and encourages participation helps. Without someone in that role, it’s even more important to have rules on which everyone agrees from the start. It’s also a good idea for the group to routinely check in with itself about participation levels and address anyone who is falling short.
3. Distracted: A bad mastermind group has members who take but don’t give, who are just there to complain, or who turn the meetings into a social function. Vital to success of any mastermind is the free exchange of ideas among all its members, with everyone contributing as much as receiving. And while everyone has a bad day from time to time, the goal of a mastermind is to leave its members feeling excited and motivated, not depressed and dejected. If one or a few people are always bringing the group down, they should be asked to adjust their behaviors or leave the group. Finally, a common problem is groups that lose focus and drift into casual chats about social lives or TV shows. A mastermind should always remain focused on its members big-picture goals.
4. Stagnant: A bad mastermind group doesn’t focus on the success or trajectory of its members’ goals. Make sure your group has members set specific and actionable goals, and determine metrics for measuring outcomes. It’s also important to have frequent progress checks to see how well everyone is moving toward their expected outcomes. The goals can be small and metrics can be anything (they don’t have to be money); the point isn’t what they are but that they are established from the start and then monitored throughout the program.
5. Unaccountable: A bad mastermind group doesn’t take members to task. That’s too bad because one of the most beneficial aspects of a quality mastermind group is accountability. In addition to setting big-picture goals for their time in the mastermind, members should also commit to action steps between each meeting. When someone doesn’t do what they say or falls short of anticipated results, others should call them out (in a supportive way) and then offer to help them right their course.

Masterminds

Notes

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