Everyone Needs a Mastermind

It seems like I’ve been getting a lot of questions about Masterminding recently — from private coaching clients, friends, and comments on this blog. So I dug out and dusted off this article that ran last year in my marketing newsletter — it was good for me to read it again, too.

Hey, I’m telling you — once I got into a Mastermind group, I was smitten. For me, Masterminding is the best way to keep myself stretching, motivated, and accountable. I’ve tried to be involved in some type of “group mind” since I started my marketing and branding firm 25 years ago. (After I got over the shock of realizing I was running a “real” business and had better learn to do it right.)

My first Mastermind was in the form of an advisory board I put together to hold myself accountable for how I ran my business, and although that wasn’t a true Mastermind because I was the only one benefiting, it wet my whistle for this kind of support. Seven years ago, I started meeting quarterly with other marketing communications firm owners — this gang is still going strong — and we truly do inspire and support each other. Entrepreneurism is a pretty dang lonely row to hoe, and finding these people, for me, was like finding my first humans after living my whole life on the moon.

Two years ago I joined a paid Mastermind group that was online- and information marketing-based and full of high-powered, successful entrepreneurs who gave me a real run for my money. The formal paid part ended after a year, but we’d come to rely on each other so much that we continue to meet on our own. And then I joined yet another paid Mastermind group — I told you I was smitten.

I love the challenge of learning new things and being encouraged by others who are passionate about what they do! And there’s something about having skin in the game to hike it up a notch. There really is a magic to it!

If you’re not yet doing any Masterminding, I encourage you to find or form a group and dig in!

The Power of Masterminding

Masterminding is not brainstorming. It’s not just a few people getting together and generating ideas and coming out with an action plan, although that certainly has its place. Masterminding isn’t networking, either, although many great relationships are built through Masterminding. Masterminding is much, much greater than either of these.

In his book Think and Grow Rich, Napoleon Hill describes the Masterminding principle as having two distinct characteristics:

1. The economic advantages of being surrounded by the advice, counsel, and personal cooperation of a group of people who are willing to lend you wholehearted aid in a spirit of perfect harmony, and

2. The psychic advantage that no two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind.

Magic really does happen when two or more are gathered in the spirit of sharing, supporting, and receiving support. Masterminding was the secret key to success for titans of business like Andrew Carnegie, John D. Rockefeller, Henry Ford, Harvey Firestone, Thomas Edison, Alexander Graham Bell and others who changed the modern world — hey, if it helped these guys, why wouldn’t everyone want to do it? And many of today’s business leaders regularly gather in Mastermind groups to benefit from the powerful group synergies.

Here are the main business advantages of belonging to a Mastermind group:

• In Masterminding, challenges are shared and participants are supported by the group. Group energy is used to support and propel participants forward toward individual goals more quickly than could be done on their own.
• Participants are held accountable for what they say they want to accomplish, in a way that assists in overcoming obstacles and supports what’s important. This accountability alone ensures accomplishment at high levels.
• Masterminding gives encouragement and builds confidence in a truthful way. Because everyone has the opportunity to both present their own challenges and to listen and assist others, beneficial symbiotic relationships form.
• Participants are listened to in a safe and non-judgmental environment. This is so rare in business today!
• Participants have more fun making progress toward goals while others cheer them on to greater results. Ditto here about what’s rare in business — often, we see just the opposite.

If you can’t find a Mastermind group you’d like to be a part of, why not start one yourself? It may take a bit of time to find the right mix of members for your group, but the search will be worth the effort. Here are a few ideas to get you started.

1. Look close to home. By that I mean, take a look at the people you click with already, those you find it easy to share ideas with. These could be people in your industry, associations, personal acquaintances, or even online contacts. (Online Mastermind groups can work just as well as in-person groups, as many groups meet by phone for their meetings.)
2. Find enthusiastic, like-minded, high-achieving individuals. Make sure you ask people who will have staying power and can commit to regular in-person or phone meetings. Try to find a common thread among participants, such as all are marketing professionals, entrepreneurs, at the same stage of business development, or other common attribute. Ask people you admire and respect!
3. Set some ground rules. There are many resources online for Mastermind group start-ups and guidelines. It’s best to get everyone on the same page as to what’s expected of members, how often and how you’ll meet, and how to best assist each other. Many groups have simple outlines they follow for each session, such as: progress since last meeting, major challenge at this time, and what each member wants help with at the current meeting.

If you’re not yet Masterminding — I can’t stress this enough — give it a try. If you are Masterminding, please leave a comment — I’d love to hear why you do it.

P.S. Looking for a structured Mastermind program? Email me. marcia@hoeck.net