- What a mastermind group is and why it works
- How often to meet and how to structure it
- The key benefits for online business owners
- Who to invite (and who to avoid)
- How to organize, run, and get the most from your group
Mastermind groups help you talk through the problems you’re facing, find solutions, and lean on people who can offer support and advice through whatever you’re going through.
A mastermind group can help you become a greater success. This article covers the benefits a mastermind group offers you as an online business owner, who you should invite, and how to run one.
What Is a Mastermind Group?
A mastermind group is a group of like-minded peers who meet together and offer support and advice to one another around a common goal or vision. It can be incredibly beneficial as you talk through struggles in your personal life, business, or studies as they relate to your vision — the group gives help, advice, and wisdom when you need it.
The group consists of one or more people you trust — individuals you can bounce ideas off of, get valuable insight from, and get help from in accomplishing the challenging tasks or goals ahead of you. Your mastermind is created to help you tap into greater mind-power, because you have more great minds focused on solving a single problem together.
It’s worth considering whether there are people already in your life you’d want to ask to be part of your mastermind team.
“No two minds ever come together without thereby creating a third, invisible, intangible force, which may be likened to a third mind.”
— Napoleon Hill
That force is exactly what happens through a mastermind group.
How Often Should You Meet With a Mastermind Group?
I recommend meeting with your mastermind team at least once a month to discuss industry updates, the challenges or questions you need help with, and any advice for overcoming struggles you’re facing.
Some mastermind groups feel the need to meet more often and decide to gather once a week or more. How often you meet is up to you and your group’s needs. Each person on your mastermind team will also have their own questions to work through, so take turns helping each other out. Brainstorm the questions to resolve, work together toward each person’s goals, and you’ll see your success skyrocket.
In most cases, it’s best that you and your mastermind members don’t have any equity, shares, or ownership in each other’s businesses. That way the group stays 100% committed to sharing unbiased solutions to the problems at hand.
Benefits of a Mastermind Group
There are many benefits to having a mastermind group, including:
- Advice and support from peers
- Additional resources
- Differing perspectives
- People to brainstorm with
- Accountability
Who Should You Invite Into Your Mastermind Group?
When choosing who to invite into your mastermind group, keep these questions in mind:
- Are they 100% committed to helping you and others in the group reach their goals?
- Do they have a positive mindset?
- Do you believe they’ll be able to contribute to your success?
- Will they offer constructive ideas and feedback on the challenges you present?
- Have they been successful with any of their own goals in the past?
- Are they teachable?
- Are they a good listener?
The last thing you want is to include someone who drags your ideas down or brings negativity. Bring in people with different perspectives from your own — people who are realistic and supportive.
Also keep in mind that your mastermind is a “mutual beneficiary” group: the people in it aren’t just there to give you advice and support, but for you to do the same for them. Pick people you know you’ll be able to support in return.
How Do You Organize a Mastermind Group?
Okay — you’ve picked some people to ask to join your mastermind group. What next? Now it’s time to organize it.
First, make a list of the trusted people in your life that you want on your mastermind team. Contact them and ask if they’d like to be a part of it. Be clear about the purpose of the group and the proposed meeting dates when you reach out.
Then set up a time and date to meet, and create an agenda. Some mastermind groups discuss many different topics, while others are dedicated to just one. Be clear about your purpose so you can accomplish things and see real progress in the areas where you’re seeking success.
How Do You Run a Mastermind Group?
Once you’ve contacted your peers and you’re ready to start your first meeting, here are some things to remember:
- Meet regularly. Set a date and time that works for everyone, and keep a consistent meeting schedule.
- Choose a leader or facilitator if needed. Sometimes it helps to have someone head up the meeting and ask questions that get people talking.
- Give everyone time to talk. Make sure each member gets their turn.
- Decide if you need an agenda. Some groups skip the agenda and just talk about what they’re going through; others prefer structure. Try what works best for your group.
- Set ground rules. How many people can join? How long will meetings run? Agree on these up front so everyone’s on the same page.
Possible Mastermind Questions to Discuss
- What are some catchy blog topic headlines my audience would love to read? (Develop a list of 20–100 topics at a time, then create WordPress blog post drafts for each of them. This gives you a ready agenda of topics to write about so you’re not scrambling for ideas each week. You can write the posts yourself or hire someone to do it for you.)
- What new creative strategies could I implement to market to my target audience and increase online sales?
- How could I tweak or improve things on my website?
- How can I effectively manage a freelancer to complete a job on my website or marketing campaign?
- Any other question or challenge you’re facing — write them down and come prepared for your next mastermind meeting!
Want a mentor in your corner while you build your group and grow your business? Book a free 30-minute breakthrough call with me here and we’ll map out your next steps together.
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