We have all heard it- two minds are better than one, but what about three?I have been in two Mastermind Groups- or peer-to-peer advisory boards for almost 5 years now. Both of my groups have helped me to focus, create my business goals and reach my next level in business success. Read on for my top 10 Secrets to Mastermind Success.
1. Meet Regularly A Mastermind group relies on momentum to keep it going. Meeting the same time every week , every two weeks or every month keeps the group going and accountable on a regular basis.
2. Stay Committed and Motivated The success of the group depends on the entire group showing up. Commitment to the group is everything.
3. Keep Your Group Size Manageable I have learned from trial and error that the most successful groups consist of a total of 3 people. That allows an hour of time to be maximally utilized. Everyone gets 15 minutes in the hot seat with time to spare to open and close the meeting.
4. Formalize Meetings with a Moderator & Timer Have a designated moderator for timing and facilitating as needed at each meeting. Members can rotate in this role. Allow at least 15 minutes for each member to be in the Hot Seat ( relay their business concerns and have time for feedback from the other 2 members).
5. Document Meetings The Google Drive is a great way to share Mastermind Goals and accomplishments of each member in the group.
6. Choose Non-Competing Members Your Mastermind group should have members who are not in the same business and if they are they are not local. The last thing you want to do is Mastermind with your competition. It is crucial to be able to share all information without fearing that new ideas will be used by others, or that you have to hold back information.
7. Maintain Confidentiality Your peers are giving you open and trusted advise. This space is sacred as far as confidentiality. That should be made clear at the formation of every Master Mind group. What is said within the circle remains within the circle.
8. Listen Hard and Deep As a peer – to- peer advisory your Master Mind Group is depending on your undivided attention to their issue at hand. That means no multi-tasking or semi- presence. The group is relying on your undivided attention.
9. Pressure is Good Having the accountability to your peers is a great business motivator. A little peer pressure can stimulates creativity and lateral thinking as well.
10. It’s Lonely at the Top When you work for yourself, are a leader or emerging leader…life can get lonely. It’s refreshing to get on the phone or meet for a break with your peers to talk business and strategy and you can even get in some socializing as well!