Mastermind Group Definition
What is a Mastermind Group? You might have read or heard about mastermind groups. They are a hot topic lately. But what is it exactly and where does it come from?
A Mastermind Group is as old as the industrial revolution. They have proven to work, over and over and changed our lives forever. They have helped me to master my mindset, to set clear goals, and to push through in life even when things were difficult.
So what is? And more importantly, what is it NOT?
Core Principles of a Mastermind Group
A mastermind is a group of 4-6 like-minded individuals who share similar ambitions and goals. The members are committed to keeping each other accountable to reach their goals. Within the meetings, you share insights, challenges and ask for input on how to reach the next level in your development. It’s important that the group itself has a single purpose. There are masterminds for personal development, for business development and also for other topics such as parenting, online marketing, dating and so on.
Especially for solo entrepreneurs and small business owners, a mastermind group can be the main supporting pillar of their growth and development. The beauty of a mastermind is that your personal development is a centre point in the development of your business. You ARE your business. The success of your company is a direct translation of how well you balance your overall life. The mastermind group will assist you to achieve that balance, so your company can thrive. Are you curious how a Mastermind Group will give you an extra holiday per year?
A mastermind is NOT a tea club, a therapy group, a cult, a networking event, a group coaching technique or training. Although these elements may be present, the main principle of the mastermind is to brainstorm new ideas and keep each other accountable to reach goals.
Mastermind Group Meetings
The core of the mastermind is about the hot seat. Each of the members gets 20-25 minutes at each meeting. They are in control of that time slot. They decide what they want and need from the group. Every other member simply supports that process. You get the FULL attention of the others. If you want to read more about the Mastermind Hot Seat, read our in-depth article about the Mastermind Hot Seat
For effective meetings, it’s important to prepare yourself. This will help you to laser focus your hot seat. Members fill out a preparation form and answer some of these questions, e.g.:
- What are successes and insights since the last meeting?
- What is the status of the goals I set the last time?
- Where did I get stuck?
- What do I need most from the group?
- What is my intention for this meeting?
- Which will be my new goals?
What will a Mastermind Group bring you?
Each member reads these forms to prepare for the meeting. The mastermind facilitator prepares an agenda and guides the hot seats. Mastermind meetings are strictly time boxed by the facilitator and last on average between 2-3 hours. The frequency depends on the group. Some masterminds are once a month, once every quarter, annually or some as frequent as on a weekly basis. It all depends on the purpose of the group. What a mastermind will help you achieve cannot be understated. You have to experience it yourself. What it has helped us so far with is:
- Learn how to overcome overwhelm
- Learning to set effective strategies to reach your goals
- Installing accountability to make procrastination a thing of the past
- Experiencing unconditional support from other experienced business owners
- Setting SMART goals that will guarantee you the results you aspire to achieve
- Growing together. You will feel inspired by the growth of others and inspire them!
How can a mastermind group help you in your life?
Mastermind Growth Blueprint for Social Entrepreneurs
This guide will teach you the secrets of successful entrepreneurs in alignment with your higher purpose.
It contains practical exercises that will help you to gain the clarity that you need to grow your business and explains how a Mastermind Group can support you with this.