One of the BEST Things I've Ever Done for My Business

One of the best things I've ever done for my business was to create my own Mastermind Group.  If you have not yet heard the term "Mastermind," then you may have been offline for the past year.  Mastermind groups are popping up all over Facebook, as live events in big and small cities, and even in your own neighborhood.

Success Alliance defines a Mastermind Group as, "Mastermind groups offer a combination of brainstorming, education, peer accountability and support in a group setting to sharpen your business and personal skills. A mastermind group helps you and your mastermind group members achieve success."

In the Fall of 2013 I decided that I needed to belong to a Mastermind Group in order to "freshen" up my business.  I was feeling like I was stagnant and I could benefit from hearing new ideas and be inspired by seeing other business owners who were growing their businesses.

There were no Mastermind Groups in my area so I started my own (how I did it is posted below).  I can confidently say that I would not be where I am today with out the group.  There are a total of 6 of us in the group, all women and all with very different businesses.  We are, however, all self-employed full time (no one has a "real" job) and we all have children (so the struggles to run a business and raise children exist for us all).  I look forward to the meetings every month as they serve as a burst of inspiration for me!

Ready to start your own group (or find one that already exists)?  Here's what I did:  

Set Expectations:

• First, set up some clear expectations and rules.  This way everyone knows what is required of them.
  
• In my group you must come to 9 of the 12 meetings a year. This way people take it seriously.
  
• Meetings are at 7:30pm, 1x a month on a date we all agree to (at the previous meeting).
  
• All meetings are at my home (I like it that way) but if you want to rotate locations make sure you say so.
  
• Secrecy is a must.  Everything discussed is to remain confidential.
  

Recruitment:

• I recommend a Mastermind Group have 5-7 members.  
  
• Members can be from totally different businesses.  I do not think it matters since everyone's business involves the same components (sales, marketing, clients/customers, websites, taxes, etc).
  
• You should not have competitors in the group (so do NOT have two massage therapists in the group).
  
• You can first see if anyone you personally know would like to join. Send them a private message letting them know what the expectations are.
  
• If you want even more members then post to your local FB groups about what you are doing (this is what I did). Make sure you have some sort of screening process, you are not going to want just anyone to join.  Post that you are taking applications or that you're hosting a networking event at a public place so you can pre-screen potential members. If you are taking people "off the street" you are going to want to make sure they have good social  and communication skills, a real business, and well, that they are not crazy.
  

What a Meeting Can Look Like:

• The host should put out some beverages and snacks. We have wine at every meeting :)
• As the creator of the group you are the leader.  Start up the meeting by having one person talk about their business and what troubles (or successes) they are having.  
• Go around the room like this, each person taking a turn.  You'll see that naturally group members will throw out questions for the group and the group will have feedback or answers. There is no need to force anything! But if someone is talking too long or the group goes off on a tangent bring them back around.
• At the end of the meeting (this is optional) have each member state ONE accountability goal that they will accomplish by the next meeting.  The leader should write these goals down and bring them up at the next meeting.

Between Meetings:

• Create a secret Facebook group for the members of your Mastermind.
• Between meetings encourage them to share.
• You can also post the date of the next meeting here, resources shared in the last face to face meeting, everyone's accountability goals etc.

If you have any questions about how to start a MASTERMIND group ASK below by commenting. I'd love to help you out anyway I can.