7 Things to Consider Before Joining a Business Mastermind
Joining a Business Mastermind Group can be a great way to grow your business more quickly than otherwise. But it’s not the best way forward for everyone and if you join the wrong group it could set you back.
Today I’m going to share seven things to think about before you join a Business Mastermind. Keep reading to find out more, or watch this short video:
Why are you thinking of joining a Business Mastermind Group? – people join mastermind groups for different reasons and so the first thing to think about is why you’re thinking about joining a Business Mastermind. What specifically do you want to get from it? Some people find being in business a lonely affair and are looking for support, human connection and to feel part of a group of like-minded people. Others want to expand their business network or to learn from those in the group. Or maybe you know you’re more likely to take action when you commit to others what you’ll do – to have accountability. It doesn’t matter what your reason is. What is important is that you know why you want to join a Business Mastermind and to have this help you decide the best group for you.
Is a mastermind group the right type of support for you? Once you’re clear why you’re looking for support to help you grow your business, the next question to ask yourself is: What’s the best type of support for you to get this? Is it being part of a Business Mastermind Group, or is it getting one-to-one support? There are huge benefits to being part of a group as I write about in my blog 7 Reasons to Join a Mastermind Group including that it’s good to have a close group of people to bounce ideas around with. However, being part of a group also means you don’t get as much one-to-one tailored support as you would if you were working with a business mentor or coach on a one-to-one basis. And building relationships with others in the group takes up more time.
What type of group do you want to join? – in the purest sense, Business Masterminds are a group of people that come together to share ideas to support each other. There is no one person whose knowledge or experience has any more weight than anybody else’s. However, you also get groups that are led by business trainers and business mentors who have a wealth of knowledge and experience. People that join groups run by mentors often want to tap into the wisdom of the person leading the group. So, some groups are purely about support, asking questions and helping each other whereas other groups can have more of a training or business mentoring element. Ideally, you want to join a group that gives you exactly what you’re looking for.
Who else is in the group? – one of the most important things to find out is who else is in the group. Who are they? Do they have similar values to you? Are they on a similar journey to you? Do they have similar experiences as you? What is their mindset? How many of them are there? These are all things to consider in terms of what would work best for you, and also thinks to ask when you’re checking out potential groups. The success of a group depends on the quality of those in the group and the ability of the leader to bring the right group of people together. Occasionally there will be times when people join who aren’t quite the right fit. Make sure you find out what options you have if you sign up and then decide the group isn’t right for you.
Who is leading the group? – is the group leader a business mentor with relevant knowledge they share with group members? And do they have the skills and experience of facilitating groups well? There are plenty people who have a good technical knowledge but are terrible at training and managing people. You don’t want to find yourself at a group that runs out of time before everyone in the group has had the opportunity to get help. Having somebody who is skilled at facilitating meetings, whether or not they are there to also impart their knowledge, is really important. The easiest way to determine this is to ask those leading the groups what experience they have of doing this or speak to other members.
What is the format and frequency of meetings? – the next thing to establish is the format and the frequency of meetings. How often do these meetings take place? Is it once a week, once a month or once a quarter? What frequency would work best for you? Is there any way to get support between meetings e.g. through an online group? Will the meetings be in-person or online? There are pros and cons of each e.g. it’s often good to meet up in-person but this takes up more time than just dialing in from the comfort of your home. What would you prefer?
What is your commitment? – when joining a mastermind group, you’re committing more than just the time you attend meetings. You’re also committing to taking action yourself and supporting others in the group. How much time are you’re ready to commit to following up and doing what you say you’ll do? How much time are you willing to commit to building relationships up with other members? It’s quite common for people in mastermind groups to get together and have another cup of tea or a Skype call outside the regular meetings. Or maybe you or somebody else needs support between times. It’s also worth checking out how often you are expected to you turn up to meetings. Many groups expect you to attend so many meetings within a timeframe e.g. five out of six meetings.
I hope you’ve found this video helpful. If you’d like to find out more about the business mastermind groups I run, please do get in touch.
P.S. You can check out my business mentoring services here.
Often described as one of the most authentic and inspiring souls you can meet, Alisoun is on a mission to empower business owners and entrepreneurs to grow fulfilling profitable businesses that make a difference in the world.
Alisoun’s keynote talks, training, mentoring, and best-selling books Give-to-Profit: How to Grow Your Business by Supporting Charities and Social Causes and Heartatude: The 9 Principles of Heart-Centered Success have favorably changed the good fortune of thousands of people worldwide. She loves doing humanitarian work, fundraising and living by the beach in Scotland.
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