“Mastermind” groups appear to be ‘popping up’ all over the place at the moment, which is GREAT for business owners looking to join a group. But also confusing. And I’m often asked:
“Are all Mastermind groups the same?”
However, before I share the variety of different Mastermind groups, lets start by clarifying what a mastermind is NOT:
- Mastermind is NOT a Networking group
- Mastermind is NOT a workshop/masterclass
- Mastermind is NOT a peer-to-peer support group!
Mastermind IS a collaborative way to share ideas and resources with a collective of like-minded people. Depending on where you’re at in your business, joining a mastermind group may possibly be the best way to learn, share, observe, and benefit from the knowledge, experience and guidance of others whilst learning new idea’s, methods, and business topics.
To get the most out of a mastermind group, it’s important to find the one that best suits you and your current needs or challenges. Here are a few examples of the types of mastermind groups that business owners join.
Solo-preneurs or Small Business Owners
Being an entrepreneur can be isolating. While it may be nice to have total independence over decision-making, it can prove to be challenging when you need to bounce ideas off of someone or are stumped about a certain business topic.
Joining a mastermind group is the perfect way to get in some quality collaboration with fellow entrepreneurs. Masterminds that are focused on serving small businesses and solo-preneurs are comprised of those at every level, from early stage to long-time business owners. This provides the opportunity to learn from a variety of entrepreneurs with unique perspectives.
Within My TrueNORTH, our SAS PATHFINDER program is best suited to these
More focused groups, whether they are industry-specific or topic-specific, can prove to be beneficial for those who are seeking particular resources or ideas. If you’re a business owner and want to expand your marketing knowledge, for example, then it would be beneficial to join a marketing mastermind.
The same goes for industry-specific masterminds. Joining a group that’s exclusively focused on the industry you’re in, whether it’s B2B, tech, or real estate, is a smart way to grow your presence and knowledge within an industry.
Within My TrueNORTH our #ADDAZERO Explorer Mastermind is more suited to Business Owners looking for this style of Mastermind.
As an executive or leader of an organisation, there are certainly unique challenges presented by these types of positions. Joining a mastermind for C-suite level individuals will prove to be a good way to expand your leadership, problem-solving, and strategising skills, whether you’re the CEO of a large company or the CFO of a start-up. Surrounding yourself with professionals who’ve experienced the same business situations can provide valuable insight that you can’t receive elsewhere.
Within My TrueNORTH we invite CEO’s and members of the ‘C-suite’ to either work with Jay on a 1:1 level (The proprietor of My TrueNORTH and founder of the #ADDAZERO Business Challenge.) Alternatively, we are happy to recommend enquiries at this level to colleagues in the Academy of Chief Executives with whom offer Masterminds specifically for this clientele.
Whether you’re looking to brainstorm ideas for new strategies, services, or products, or you simply want an external view point to turn to when things get challenging, a business mentor can fulfil those needs.
The most valuable business mentors are those that are provided by seasoned entrepreneurs who have faced all of the situations that you’re likely to face as a business owner, who can lead the business through a range of topics. Having this type of mentorship and support is worth more than any kind of business course or book when it comes to long-term success.
A final word…
Self Organised ‘Peer-to-Peer’ Groups
These are probably the most common and the hardest to maintain. Because they lack the organisation of more reputed, paid mastermind groups, it’s harder to coordinate with all the people and get them to stay committed. Furthermore, without a facilitator who sits aside from benefiting from the group, there is rarely not an alternative agenda, and often lack the willingness, confidence and aptitude to ask the RIGHT questions, willing to ‘go deep’ and challenge you (in fear of loosing favour with our peers)
Invariably these become ‘friendly’ meet ups rather than DRIVING the business forward and can quickly become a hinderance to growth, rather than the catalyst to it!
If you’d like to learn more about how MASTERMIND can have a huge impact on both you and your business, simply BOOK A CALL. We’ve made it our MISSION to help 10,000 Business Owners to #ADDAZERO to their Personal Disposable Income!