“First You Have To Learn The Rules Of The Game. And Then You Have To Play Better Than Anyone Else.” – Albert Einstein
The benefits of joining a mastermind group vary from one person to another. What one person REALLY needs and benefits from may be entirely different from another member in the same group. Just get hold of a copy of the book “Mastermind Groups” by Moe Nawaz and you will get an idea of what skills and knowledge are necessary! There are other benefits of joining a group as well. Here are some of the most common benefits for business clients and members that join a mastermind group.
One of the biggest negatives of being an entrepreneur can be the lack of accountability.
“If at first you don’t succeed, deny you were ever trying.”
Not because we believe in it, but because we have seen so many entrepreneurs who live it! The group holds you accountable to what you say you are going to do. When you know you’re going to be meeting with you mastermind group in a few days, you make SURE you have something positive to report on your progress.
Imagine as a business owner making a goal in front of your peers in your mastermind group to come up with your 3rd quarter marketing plan by the time you meet for your next mastermind session. As the time comes closer and you’ve not done anything (procrastination and time management may be an issue for you) the though of being in front of your peers and telling them you didn’t do ANYTHING sink in. You know and respect the others in this group. It’s not going to be “that one” who never does what they say they are going to do. So you have two options: 1) Make progress on your plan or 2) Don’t go to your mastermind group session.
Not going doesn’t make any sense! You’re losing out on other valuable information for your business. So what makes the most sense? Work on your marketing plan. Not JUST because you’ll look better in front of your group… but more importantly because it’s IMPORTANT for your business! The accountability just helps to push you to do those important things!
As you participate on a regular basis and learn that you have as much as to GIVE as you have to gain (this specially goes for mastermind coach too, Mastermind coach learns from all his/her mastermind groups and his/her coaching and mentor clients), you will acquire additional self-worth. It doesn’t matter how much confidence you had before, meeting in a group of like-minded people that have a high amount of energy will bring you a tremendous amount of personal as well as professional growth.
We’ve seen many people come in to a mastermind group thinking they will be learning quite a lot, but they don’t have the confidence that they will be able to give much to the group. Honestly, it can be what hold some people back from joining a mastermind group – that feeling of “not being good enough”. You’ll be amazed at how a simple thought or idea of yours can morph into a fantastic idea with the help and power, it will help you to realize that there are even MORE ideas inside you that have that power and ability.
While this is not about networking for your business to “get, get, get” you will naturally find yourself on the receiving end of a tremendous amount of resources.
“You can get everything in life you want, if you’ll just help enough other people get what they want.” It happens.
The great thing is, it tends to happen when you least expect it! You may be talking about an idea or concept… and you lack a key piece or resource to bring it all together. Someone in the group may say, “You know, I know just the person or just the place for that. “As you expand your network, so expands your resources.
When you associate yourself with the same people day after day and year after year, you tend take on the same perspective. It’s simply human nature. It is incredibly refreshing to belong to a mastermind group with people of differing views and perspectives. They will help you to see things in your business from a completely unique vantage point. You may find yourself trying things you would have never even imagined. It’s cool!
At the same time, you can offer a completely different perspective to someone else. Some times you idea or though doesn’t have to be earth shattering… it’s just from a different perspective. It’s great to hear in a mastermind group, “You know, I never thought about it that way. “We hear this again and again!
The mastermind group is a safe place of mutual support at all time. You will find someone putting down your ideas. They may ask you questions or encourage you to see things from a different perspective, but there is always respect. That is something that is often lacking in today’s business environment.
After tossing around an idea and looking at it from all angles, if you decide to “go for it”you’ll have a group of people that will be cheering you on a and rooting for your success. There is no competition in a mastermind group. Everyone wants everyone else to be successful.
A part of most mastermind group is a section of celebration. It is great to have the encouragement of fellow mastermind members. Hearing a “good job” or “well done” is something that may be sorely missing in your business. It can be something that you look forward to in your mastermind get together.
Be willing to share your successes, no matter how small they may seem. When you get used to celebrating each success with your mastermind group, it will help you to stay motivated with your goals and action plans. And if you’re struggling, let the group know. You’ll be amazed how they can find some area in your business to give you encouragement in. Staying positive is vital in your business!
There may be days in your business when you frankly do not have energy. Let’s face it, there may be weeks on end that the energy is lacking. A good mastermind group will bring energy back to you business. When the ideas are flowing back and forth, a real energy is created that carries over into your business for days. It will be like a short in the arm.
That renewed energy in your business can work wonders. Take it and make a DIFFERENCE in something that will bring in needed cash flow or revitalize your customer base.
You will benefit from the year of experience within the group. There are people within the group who have “been there, done that” and you will be able to gain ideas and energy from them.
Don’t take that experience for granted. Someone may have experience in business planning while someone else has experience in marketing. Another person in the group may be a whiz in internet marketing. Use all that experience to round out your business to be the best it can be.
The same applies for specialized knowledge. There may be parts of your business you simply need to learn MORE about. You have other business people who have that specialized knowledge that you can learn from.
If you don’t use it, you’re leaving that specialized knowledge on the table… leaving it to waste when you could sorely be using it!
One of the very best parts of the mastermind group! because you never know where it’s going to come from or exactly what it’s going to be. An idea or concept that started as one thing will morph, and morph again. It will be added to, carved and chipped away at, and turn into a life of its own. Often times something that’s not even recognizable from what it started from. In fact, sometimes it has NOTHING to do with what it sit started from.
Yet that’s okay!! Ideas that come from the synergy of the group can be incredible dynamic. Sometimes for only one person in the group… and sometimes for may or ALL of the people in the group. Partnerships can be formed, or new independent business can be formed. You just never know!
You are sure to find other benefits of the mastermind group that are just your own. Some you will expect; others you will not!