The first time I heard someone mention Mastermind on a podcast a couple of years ago, I honestly thought they meant the game show. I’m sure most of you know the one, you have your turn in the chair for a general knowledge round and then another for a specialty subject of your choice (the breadth of which determines your relative success from my observation!) . I do enjoy a bit of trivia and it’s fun trying to answer random questions on random subjects. I’m sure it’s good for your brain too?! 🤷♀️
Anyway the point I’m making is that when I first heard about the concept of a Mastermind I didn’t really know what it was, and I thought you might be in the same boat so I’d write a blog to explain more.
Napoleon Hill talks about Mastermind’s in his book Think and Grow Rich as a group of people who have the knowledge you don’t have that you can tap into. For example he talks about Henry Ford not being the most educated person but creating an environment where he is surrounded by experts that he can tap into at the touch of a button. So if you’re running a company, like Mr Ford, you don’t need to have the knowledge yourself necessarily. But you need access to it, you need to know where to go to find out the things you don’t know. Some of that might be from hiring the right team. But another way is to participate in a Mastermind group.
The first time I was part of a mastermind, it was kind of sprung on me, which also turned out to be the way I ran my first mastermind too. It’s a good way to start because it cuts through all the BS of self doubt and not being good enough, that inner voice that keeps us safe by playing safe. I was at a networking event and as part of that there was a mini mastermind where we all took five minutes in the hot seat.
Five whole minutes. Everyone focused on your business, your challenge. You’re not actually sat in a black chair with the spotlight on you but that’s how it can feel! And that’s why not having too long to think about it the first time is a good thing, because we might talk ourselves out of it! And what a shame that would be. Do not underestimate the value of engaging with a group of people face to face (in person or virtually) to give you feedback and advice and ideas.
In the years since I started my business I’ve invested a lot in my personal development and online courses and programmes and I’ve learnt such a lot from these. But what the weekly calls or the Facebook group support didn’t give me was the ability to talk through my biggest challenges and get different perspectives. I can hand on heart say that I got more from five minutes in the hot seat talking through my challenge and getting input and ideas from like minded business folk and experts in their field than I did from all of the online courses put together. Yes, they taught me a great deal of the theory and got me thinking a lot but they didn’t push me to take action. I didn’t have a tribe behind me validating my thoughts and cheering me on. Or maybe they were there in the online space but because I couldn’t see them and look them in the eye, they didn’t seem as real. As they say, two heads are better than one. Well let me say that I think the effect multiplies!
And it’s not just your time in the hot seat that you get the value from. Not at all. As you’re sat listening to everyone else talk through their challenges, and you’re supporting them with your experience, it strikes you that you do, actually, know a thing or two. Plus it gives you an insight into problems you don’t yet have. And ideas you haven’t yet thought of.
A mastermind group will help you raise your game. It will keep you accountable for doing the things you said you’d do. And it will challenge you to do the things you aren’t sure you can, because you’ll build relationships with people who will believe in you and help you to believe in yourself.
A mastermind can be an affordable way to work with a business coach as they will likely be running the session and contributing their advice and experience too. But don’t be fooled that it’s always the cheaper option. There are high level masterminds that cost the same as a house if you have that sort of money to invest.
I’m part of a few networking groups too, and I think these are great, please don’t get me wrong. Informal networking is a fantastic way to meet more people and get your business in front of a wider community. I absolutely do this too. But I don’t think I’d find it appropriate to discuss my biggest business challenges openly in such a group setting, and I wouldn’t expect everyone to spend their valuable time on my issues.
The point of a mastermind is that the structure around it makes sure everyone gets value. The same amount of time in that good old hot seat. And the same attention and contribution paid to them in return. To be part of a mastermind is to be part of a small community that helps each other, celebrates one another’s successes, and supports each other through the challenges too, whatever they are.
I’ve been in my current mastermind group for three months now. We know each other, we support each other, we ask the awkward questions to each other that make us flinch a little bit (literally me last week!) but face what’s really happening for us. We have light bulb moments, notice procrastination, call out playing small, and instead of tackling them ourselves we face them head on. Together.
There’s something very powerful about community (and a little competition too). If you’re a business owner and would like to join my mastermind group and grow your business, click here to get on the wait list.
Great things happen when you are surrounded by like-minded folk that have your back and inspire you take action.
