What is a mastermind group?
A mastermind group is a group of peers who meet to give each other advice and support. It’s similar to mentoring but has several important differences. First, it will have five or six members, instead of being a one-on-one meeting. In a mastermind group, you will both give and receive advice, while in a mentorship, you’ll typically be on the receiving end. (Tony Robins, https://www.tonyrobbins.com/business/mastermind-group/)
It’s as simple as that. Mastermind groups are great for getting the kind of support you need when you need it. For entrepreneurs, hustlers, and high-performing professionals, mastermind groups serve as a base of support that you may not get in your daily life. These groups generally meet on a schedule and have activities that help to support and elevate the members with their goals.
What are some examples of mastermind groups?
Mastermind groups can be found all over the place. If you haven’t heard of it yet, then a quick search will point you to groups in your local area. Generally, you’re looking for groups with well-defined agendas, activities, and a few members who have some level of expertise that can benefit you.
Do I need to pay?
You may or may not pay for a mastermind group. It’s entirely up to you. Paid groups may provide benefits such as nice meeting places, food, …etc. Our experience has shown that a good group is one with a clear agenda, motivated members, and accountability. If you do pay ensure that you are receiving value above and beyond the basics.
Why is it important?
You won’t know everything and need to expand your knowledge
Ambitious individuals like you should understand that there are just too many domains of knowledge and expertise that are changing and required on a daily basis. It’s just not possible to know everything. The African proverb: If you want to go fast, go alone, if you want to go far, go together is the underlying principle of a support group/network such as a mastermind group.
You need support as much as you may disagree
You may be an ace at marketing and social media but completely at a loss for how to structure your business’ financials. You may be a maverick at registering a company, opening your bank account, and filing taxes but have absolutely no idea how to address the technological needs of your startup or side hustle.
You benefit from the collective consciousness of people like you
By leaning on and lending your expertise to a group of individuals you can help launch businesses, professionals, and yourself to the next level of achievement while also building a strong network of doers.
How does it help you?
Stuck on something? Get help from someone who has been there and done that
If you‘ve ever been stuck on and procrastinated on something critical to your business goals, then a mastermind group is a perfect catalyst for your growth.
Bounce your ideas on people who are genuinely interested in your success
There’s nothing like getting feedback from people who actually care, listen, and can give relevant advice. The success of your fellow entrepreneurs is your success through and through.
Refine your business, processes, and product in a supportive environment that is not afraid to give feedback, praise, and critique as necessary.
When joining or running a mastermind group we recommend the following:
- Choose, or start, a group with people who you have vetted for professionalism, reliability, and compatibility (personal and/or business)
- Work from an organized set of standards and have an agenda that everyone can follow. If there is no agenda then this isn’t the group for you!
- Ideally, choose a leader or pass the responsibility around on a regular basis so that each member gets to showcase their leadership skills
You can read more about this here: https://www.score.org/resource/blog-post/5-essential-rules-building-mastermind-group-gets-results
How can we help?
We’ve successfully participated in and run our own mastermind groups with excellent results.
Get The Guide HERE: http://eepurl.com/c6xRAr
Download our full guide to running your mastermind group.
Within the NITM network, there are many individuals with some seriously strong expertise that are ready and willing to help you. You may reach out to us if you need our specific help around our areas of expertise or would like us to speak at one of your mastermind groups.
Eve of Strategy — https://linktr.ee/eveofstrategy
From innovative startups to established healthcare + wellness organizations, Eve has partnered with a diverse range of successful leaders and teams to forward high performance in products, services, and initiatives domestically and internationally. Eve delivers expertise to teams in agile strategy, leadership development, and user experience research.
Latasha Kinnard — Godesté https://godeste.com/
Precious Price — LANDRIFT
Rich Harris — Theo9 https://theo9.co/
We are a creative consulting agency working with new businesses as well as existing companies looking to rebrand. Theo9 covers everything from Web design & development, Photography, Marketing, and multimedia.
Georgie-Ann Getton — GSD Solutions https://gsdsolutionsinc.com/
Malcolm Paul — NITM www.nitm.co
We work with early-stage startups from as early as the first idea to help you get to Series A funding. We specialize in product planning, founder guidance, and product strategy and have resources internally to provide development, DevOps, design, and product + product management. We’re your interim tech team to help you get to the starting line!