How do you Know if Joining a Mastermind Group is Right for You?Jun 23, 2022
Masterminding is a popular way to be supported whilst running your business and something I’ve been participating in for years. I love the sense of community I get from being part of something bigger than just me and knowing people who get what I’m going through is priceless.
What is a mastermind?
A mastermind is a group of like-minded people supporting and inspiring each other. It’s using the power of collaboration to solve problems, give and get advice, and share experiences.
Different types of masterminds
Not all masterminds are created equally and there are different options and formats available.
Free masterminds are a group of peers who decide to support each other. Whilst in principle this is a great option, free groups often lack commitment, and participation quickly dwindles.
A group of 12 business buddies (including me) finished a paid mastermind programme and because it had been so good, we decided to continue to support each other. We agreed on the timescales, set the date and I sent out the Zoom link – three people turned up to the first meeting and only one to the second! Whilst the intentions were good, it wasn’t a priority to the members when it was free.
1-day masterminds these are where you go to an event (in-person or online), sit with other business owners and take turns to put a question to the table. Whilst this approach can be great for idea generation and as a sounding board, there is no organised ongoing relationship or support with the group.
I’ve been to a few in-person 1-day masterminds and whilst they’re great networking opportunities, I found them intense and there isn’t the time to really get to know and understand each other’s businesses.
Paid masterminds are where you have a peer support group who you work with at regular intervals. These can be in person or online – both work equally well. These programmes can be combined with other support structures for the members such as WhatsApp groups, group coaching sessions, workshops and 1:1 coaching depending on who is leading it.
Joining a paid mastermind is one of the best things I’ve done for my business. Working together with other business owners over a period of time means you get to understand each other’s businesses. It’s a safe environment to share the highs and lows of running a business – the group becomes your personal cheerleaders and an important part of your support network and gives you the team spirit that’s missing when you work alone.
Why should you join a mastermind?
Serious about succeeding – whilst success is different to everyone, you can’t do everything alone. Being in a mastermind will help you focus on the important things that will help you to grow your business in a way that’s right for you.
Connection - feeling lonely working on your own is a huge issue, a mastermind will allow you to be part of a community of like-minded people where you can build great relationships and friendships.
Accountability - if you struggle to get things done in your business, the group will be your accountability partners. They won’t be doing the work for you, but knowing you’ve committed to something publicly is an incredible motivator.
Idea generation - If you’re struggling with ideas and inspiration, put it to the group and the collective mind will help you with the creative process of idea generation.
Decision-making – it’s hard having to make all the decisions on your own. Often friends and family try to help but they don’t really get what you do. The group will be there to help you make decisions and focus on what you need to do.
Increased confidence – having a great support network, making decisions, and moving forward in your business will all build your confidence which will only have a positive effect on your business.
Continuous learning – whether it’s new skills or learning from others' mistakes, you will always learn something new from your peers.
When you shouldn’t join a mastermind
Masterminds only work if everyone is committed and serious about supporting each other. The open and honest conversations in the group are where the most value resides, so it’s important to be part of it. If you’re not prepared to or don’t have the time to participate in the group, a mastermind is not the right fit for you.
From my own personal experience, masterminds have been invaluable to me and my business. Is a mastermind the right next step for you? Are you interested in joining a mastermind group programme set up exclusively for holistic practitioners?
NEW Holistic Hub Mastermind
One of the best ways to step out of your comfort zone is with the support of others. I'm looking for 8 founding members for my exclusive mastermind group starting July 2022.
There will be a mixture of individual coaching, group masterminding and support. We'll be your cheerleaders and help to keep you moving forward and creating your thriving business. Get the full information here.