What is a mastermind group?

A business mastermind is a weekly or monthly meeting, with 3-8 regular members. Many times, the members are distributed, and so the call is done using GoToMeeting, Skype, Zoom, or Google Hangouts. During the meeting, each member describes what they’ve been working on, and what they’re struggling with. The other members listen and offer suggestions and critiques. These meetings are also a time to celebrate any wins each member might have.

How to run a mastermind group

Our agenda will look something like this:

There are three different sections:

  • Notes: this is where we’ll put interesting new items, links, and quotes to discuss.
  • Personal updates: this is where we’ll list out the personal updates we’d like to share (we pre-populate this before we meet). Sometimes these are items we want feedback on, but sometimes it’s just personal news we want to share. Each person gets 15 minutes.
  • Big discussion topic: occasionally, we’ll skip the personal updates, and just choose a bigger question to discuss. Example: “What do you think are the main causes of your successes so far?”

We’ll record all of our notes in a Google Doc. (This is important, see below)

What are the benefits of a mastermind group?

A mastermind will positively impact your life.

The mastermind has given us a safe place to discuss the hard parts of life and business. It’s enabled us to share information and to support each other. Its provided accountability, and motivated each of us to press on.

Because we write notes for every meeting, we have this amazing record of our individual journeys:

  • How far we’ve come.
  • All of our ups and downs.
  • All of the things we’ve tried.
  • What’s worked, what hasn’t, and what’s still working.

It’s an incredible document. It shows the power of people coming together, with intention, to help each other.

If you’re building a business, even if you’re a solo founder, you can’t do this alone. A mastermind can provide you with the community you’ll need to go the distance.

To your success,