The Power of the Mastermind [Episode 24]
The Power of the Mastermind They say it takes a village to raise your kids well, I believe that it takes a village to raise your business too. Today is all about support and having a village for your business. Have you ever heard of a mastermind group? Simply put, it's a group of people that come together to work on their goals and get feedback from the other members. Napoleon Hill, the father of masterminds and author of Think and Grow Rich (one of my favorite books), attributes his success and the success of other high performers to the power of masterminds. Here’s a little backstory on my mastermind experience. I have been in a mastermind group since 2013. I started my first mastermind not even knowing what that was. I just knew that I needed other like-minded business owners to be around and run things by them. I found out that other small local senior living business owners were craving that same connection. So we started with our group of five and we met for 8 months. It was great at first but then we had one person that could never make it and another that was focused on such small issues like paying a $10 bill each month that when I left to have my third baby the group kind of fell apart. Then, I went through B-school and met some amazing women entrepreneurs. Five of us started a mastermind group and met regularly for 2 years over Google Hangouts and then Zoom. Eventually, that group ended and three of us continued to connect weekly over Voxer. Currently, the three of us are still doing weekly or daily check-ins on Voxer. So what did we do in those masterminds? There was a format, time limit, and a hot seat rotation. First, everyone would go around and give a brief win and update from the last meeting. This was 5 minutes or less per person. Then, the hot seat would start. The person scheduled for the hot seat would bring a specific problem or question or anything that wanted to focus on in their 20-minute slot. The first 10 minutes would be them telling us what it was and the last 10 minutes would be feedback and ideas and suggestions. Lastly, we go around and tell the group our goal that would be accomplished by the next time we met. So there it is, that’s the format. This has helped me so much over the last 5 years. Before I had a group of people to connect with I always felt like I was all alone and on an island. Like I was this one-man show and I had to figure it all out on my own. I have gotten to bring up some really big issues with my group and walk through different problems, ways of handling things and strategies with them. They honestly give me their opinions and suggestions and I am able to talk it out and feel confident when I get off the call. These women are not afraid to be honest tell me what they really think. This is done out of love and wanting to see me succeed. I would have wasted so much time and energy and had a ton of negative self-talk without these women. I strongly encourage you to find a mastermind for yourself. There is never a time in your business life when you should be solo. You should always be in a mastermind group. If you are in one and it isn’t working, that’s ok, find a new one. There are a bunch of people that offer masterminds and are really good at matching people and facilitating the group. It can be a free group or a paid group and you can be in more than one. There are even masterminds that are topic specific and only last as long as the topic is relevant. And if you can’t find a group that is already put together, you can start your own. There are plenty of resources online for starting your own mastermind group. And by the way, sometimes paid masterminds are more valuable than free ones because people are invested, actually, show up and put forth their best effort. Anyway, I hope this inspires you to find a group and get moving on your goals. Find a village because it takes one. No one makes it on their own, there is always some sort of support in the mix. Who knows, maybe I’ll start facilitating a mastermind or two. For my moms that just starting a biz and one for my moms that already have one and want to grow. Lemme know what y’all think? Would you be interested in that?