10 Reasons to Join Mastermind Group
The concept of the mastermind group is relatively new. Although Napoleon Hill wrote about it in his book Think and Grow Rich 75 years ago, people are only now understanding some of the benefits these gatherings produce.
The idea behind a mastermind group is to assist you in your process of dealing with personal challenges and struggles, all while using the experience and collective intelligence of the other group members.
Free Training: How To Launch Your Own Paid Mastermind Group
When you place several minds in one room to discuss a common problem, the solutions resulting from that discussion are almost always far better from what one could come up with if trying to solve that problem alone.
If we live by the quote where each person is the average of the five people he spends most of his time with, then mastermind groups are a pure reflection of it. Many successful people have achieved the greatness of their careers through participation in mastermind groups.
What is a Mastermind group?
But you might wonder how a mastermind group actually work? Usually, there is a small group of people who meet either weekly, bi-weekly or sometimes on a monthly basis. The whole idea is to tackle problems and challenges together.
They share their experience, give advice to each other, share some of their personal connections, or even get into business deals where appropriate. On a way, it is like peer-to-peer mentoring.
If you are a given a chance to be invited to join a certain mastermind group, accept without hesitation. Very soon after taking an active role in this group you will see a change in yourself, as well as in your business.
Being surrounded by like-minded professionals will give you many benefits. Both your professional and personal life will experience an uplift, all while you having the feeling that you can do more.
And that should be the case. As you receive from the mastermind group, that is how you should give as well. Upon joining, you might be little concerned around the fact how much you can actually contribute to the other members.
What you will notice is that you have skills and experience others do not. And vice-versa. So willing to help should be your primary purpose. The mastermind groups are not networking groups or coffee clubs.
Look at them as groups for business owners who are serious about their businesses, who are serious about its growth and have the discipline to follow through.
Why you should join one?
There are many reasons why you should join a mastermind group. Within this article, we select ten of them:
Being part of an exclusive community – Receiving a membership status from one mastermind group usually, include an invitation by one of its members. Sometimes, there is an option to fill out an application.
As the other members will be relying on you as much you will on them, there is a certain level of skills and experience needed so everyone can be fully involved. Depending on where you live, you never know what kind of mastermind group you will find.
Creating a new focus for your business – There is not a business that would always run smoothly. Every business owner is aware that the path towards greatness is a bumpy one. Customer complaints, financial difficulties, additional working papers, lack of market growth – this is just a hint of what you can expect during your business development.
But the mastermind group can give you a new perspective to look upon your problems. Different members, all with their unique experience, will share with you a vision of their own, allowing you to set a new focus for your business.
Brainstorming – Sometimes, just learning from other’s experience is not enough. There are problems that seem you will never be able to solve by yourself. And that is OK. When you are part of the mastermind group, you can “activate” skills and knowledge at the tip of your fingertips.
When several heads come together, through discussion and analyzation of the problem you are experiencing, the feedback and helpful guidance you will receive will be of immense value.
The collaboration will be your new business aspect – As you get to know the mastermind members, the chances to find someone who is a great match for your business are high. If that is not the case, you might be able to find someone who is in need of your expertise. The group will always work towards collaboration, so the outcome is greater. Soon this will become your second nature.
Accountability will step in – The mastermind group is there to help you with what the members are familiar with. As such, once you commit to certain goals, members will hold you accountable to take the necessary steps and actions.
This is great as when you are alone, there is a number of obstacles that can come your way. But with your promise given to someone else, the possibility for you to slip is greatly smaller. We are human beings, we do not want to diminish our qualities.
Your network will grow – Once you are part of the group, your network will grow exponentially. And if you are already a business owner, you know the importance of an extended network. And as members are connecting rapidly, indirectly their networks become part of yours as well.
Confidence growth – Being surrounded by like-minded people, plus being able to help some of them, your confidence will grow. You will receive recognition and appreciation for your input, and your self-confidence will affect your personal life, your professional attitude, and company culture.
Portraying confidence is a strength, an inspiration for others to act better as well.
Is the best budget-friendly option for business consulting – Although not every owner takes active 1 on 1 business consulting meetings, the progress your business will experience through your discussion with your fellow members will be far greater.
In addition, your income and budget will see a new boost, as for many owners, this form of consulting is just enough for their business.
Generating new business ideas – The mix of energy, purpose, knowledge, skills and experience from so many people in one place will generate business ideas for which you might never come up by yourself. And even if they are not related with your existing business, you might never know which one will be your future endeavour.
You will receive inspiration and encouragement – In case you are a solo entrepreneur, this can be of great importance to you. Leading your business by yourself can be a lonely experience.
But as a mastermind group member, you will find support and regular interaction with people who are in a similar situation like you. This will be essential for your growth, personally and professionally.
Free Training: How To Launch Your Own Paid Mastermind Group
You never know what kind of experience you will have as part of a mastermind group. But if what you seek are support, growth and personal development, this form of networking will always be your right choice.