Have you ever wondered if you should join a mastermind? It’s a good question for many business owners who are ready to take it to the next level and who want the extra support and guidance from people they really respect. Today, I want to dive deep taking a look at what Masterminds are, what they are not, and what you should consider before you join a mastermind. Are they all created equal? What makes some have a greater impact than others?
What is a Mastermind?
A Mastermind is a group of people that come together to help one another. Typically they have a difference of opinions, resources, and experiences which makes the group even more powerful.
It is a place where members can work through ideas, make plans, and overcome challenges with many minds at once. It is a place they can feel safe and say things they normally wouldn’t publically and in an environment where members can be challenged and vulnerable all at the same time.
If you join a mastermind you can expect to have structured meetings, strong attendance, and expectations placed on all members as a cornerstone to maintaining membership. Some masterminds meet in person weekly, others meet virtually, some meet once a quarter at different locations around the country.
A way to illustrate the mentality of a Mastermind is a gang. I know that might sound a bit harsh but think about it: They all hang together, they act as one unit, and they all influence each other’s decisions.
They also hold each other accountable.
Why Would Someone Want To Join a Mastermind?
There are endless obvious and not so obvious reasons why someone would want to join a mastermind. Sometimes it is for selfish reasons; they want to get as much from the group as possible. Sometimes it is for selfless reasons; sometimes they want to give back. Some because they just want to be apart of a bigger body that is moving.
Feel Alone in Business
Many business owners simply feel all alone. Their friends and family just don’t understand their business. They don’t have many friends on or offline that understand what they do or have the same attitude towards growth that they do.
Sometimes it just feels like we are trying to convince people that we even have a business and no one really believes us. “Oh my daughter walks dogs” is typically the way someone shows they “understand” what we do. When you join a mastermind everyone intimately understands exactly what you do.
They Have No Support
When things go good, there is rarely anyone that understands the depth of the strength it took to reach that achievement. When things are bad, it always feels like no one understands. Maybe some might pretend to understand, but in the end, all they are looking to do is tell you what they think you should have done and how wrong you really are (according to them). The people who join a mastermind tend to invite the support into their lives both good and constructive.
Again, the group think offers many opinions, resources, and advice.
Big Fish in a Small Pond
I know many business owners who are on the top of their game. They have a fresh outlook on their business, a positive mindset, and embrace failures as ways to learn. Unfortunately, not everyone is like that and sometime you will feel like you are surrounded by a bunch of people who are small fish with simple minds.
A business owner must be careful of where he or she spends their time because hanging out this crowd too long can severely hurt your business. If you join a mastermind you can be prepared to feel like a small fish in a big pond. It will offer you a chance to learn, grow, and explore the possibilities.
What Masterminds Are Not:
If you want to join a mastermind, it is important to understand what they are not. Sometimes people get masterminds confused with something else and it is important to be clear what they are not so you aren’t surprised.
They Are Not Coaching Groups
If you are expecting to get one on one coaching from the Mastermind leader, then joining a mastermind might not be right for you. It gets a little tricky here as some had a hard time finding the distinction between this group think and coaching. While you might feel like there is a little overlap, a Mastermind isn’t coaching.
When you hire a business coach you are getting to work one on one through challenges and there is often direct teachings specifically for you. The beauty of a Mastermind is learning not only when the spotlight is on you, but also when it is on others and they are learning lessons that you can directly apply to your business.
In fact, most of the learning happens when you witness others journies throughout it!
It is Not a Place To Vent
Masterminds are focused on solutions. They solve problems, together as a group. They have a positive, can do, we-believe-in-you attitude and a lot of encouragement sprinkled into everything. It is not a place to come and complain without looking for a solution. It is not a place to vent or moan and groan. When you join a Mastermind it is about overcoming your challenges and by the end, you should feel confident knowing exactly how you can move forward in conquering your obstacles.
You Can’t Be a Wallflower if You Join a Mastermind
The Mastermind will not be successful without everyone participating, and that means you! If you were at a business networking meeting, you might be able to get away with sitting at the bar and letting the room work you… but not in a Mastermind. You need to support your fellow members. You need to offer advice and encouragement and you need to show up and be on time. Afterall, that is what you want them to do for you, right?
“Be prepared to work and you will reap the benefits. What you put in is what you will get out of it.”
Alix DiLorenzo Homeward Bound
Jump Mastermind founding member
What To Expect if You Join A Mastermind
Admittedly, this concept is pretty new to the pet industry…no one is really doing any of these so I want to break it down to show you exactly what Masterminds are all about.
They are laser focused:
This means that the participants are directly out to do a certain goal or task. Each group might achieve this differently.
I am in a Mastermind with under five people. This masterminds task is to put one person in the hot seat at our weekly meeting and we all help that one person figure out a challenge, create a roadmap, and the person usually commits to achieving that duty by the next meeting.
In other masterminds when you have larger groups, sometimes there are monthly themes. Where everything you talk about that month has to do with the theme.
“When considering a mastermind, be ready to do the work. Be ready to be laser focused and use valuable advice that is not available anywhere else.”
Kelly Harrell Tails Around Town
Jump Mastermind Founding Member.
They Are Member Driven:
Just like you can’t be absent and it isn’t a coaching session, the true “mastermind” happens when all the group members put their heads together for the common good of the group. The group is driven by the memberships ability to support one another.
“Being in a Mastermind Group helps you to break through your fear and make some powerful choices that you would not otherwise have done. It helps you to GET REAL with yourself and your business. Everyone in the group has something to bring to the table. If you have a challenge, you can get some answers from someone in the group that has probably gone through it before and can help you. It is all about sharing because the members of a mastermind group tend to be so open about their past mistakes and so open to helping.”
Maureen Dunn Mccarthy Love and Kisses Pet Sitting
Jump Consulting Founding Member
The Leadership of The Group Matters:
Although it isn’t a coaching group, the leader of the group should have some clout with the members. They are the captain of the ship leading and guiding the group down the road. Leadership will help create topics, have experts come in, keep the tone of the group, enforce the rules, keep the meetings on target. They will also hand select or approve the group members entering the group so you can be assured that there has been some vetting done.
Alternatively, if there is a leader who doesn’t have resources, knowledge, or authority over leading a group of people, it might end up being a bit chaotic. I’d ask yourself, how much do you believe in the leader?
“The most important thing for any business owner deciding what mastermind to join is who the founder is. Are they the rare individual who has the charisma, eloquence, grit, heroism and, above all, love to believe in you when you’re battle-scarred and you don’t even believe in yourself? Do they have a plan and vision for the people they bring together? Do they understand what it takes to succeed from deep inside? Do they challenge and drive you to walk up the mountain to see the planets align for the first time in all your years of business and life?”
Asha Olivia Hoby Dogy
Jump Consulting Mastermind Member
There is Usually an Investment:
What separates one group from another? Cost.
You will automatically value something if you have to invest your hard-earned money. If you didn’t invest, you have nothing to lose and often the way to treat “it” will change. Just think the last time you were given something for free vs something you had to save up and buy? You valued the one that took a lot of work to acquire!
Masterminds have a wide range of costs. I have heard of some as much as $60,000 a YEAR and I have heard of some at $19 a month. The cost also creates exclusivity. Not everyone can just join. There is an investment to have your seat, to have the privilege, of being around a group of like-minded individuals. Cost should be a factor that you should consider as a tool that ensures that you are surrounded by serious people.
You Need To Show Up Consistently!
Masterminds rely heavily on the group all being present. Regular meetings require that you get to know one another so attendance is a must! Even if the group doesn’t have you in the hot seat that day, there is still a lot you can learn from others going through challenges in their business and you might have the key piece of advice that help that business owner.
The group is only as good as the members that show up! If no one showed up, there would be no group. It also helps hold members accountable.
“You have to understand the group takes time to participate and that you have to be prepared to: -take time to invest in yourself by achieving your goals which may mean you work more at first to reap the benefit of letting go. -be pushed by your peers -get exceptional advice from other bus owners like you from their own trial and errors. “
Katie Westerfield Homeward Bound Pet Care
Jump Mastermind Founding Member
Is a Mastermind Right For You?
It is always tough to tell if the Mastermind would be right for you. At the very least, I think you should contact the organizer of the group you are looking to join because they will be able to tell you.
Now, if you are like me, you are probably saying, “yeah right Bella! They just want to “sell” me to join the group” But here is the thing – it actually hurts them if you aren’t the right fit and join. One bad apple could through the entire group mojo off and the group leader
If you are at the point in your business you want to be held accountable, feel like you want to take your business to the next level but need a bit of group think to expand your horizons and cheer you on… a Mastermind could be for you. It is just as much about giving as receiving and the networking that naturally happens in these groups tends to create forever friendships!