If you’ve been around the online marketing space for even a short while, you’ve probably heard one of your favorite gurus talking about mastermind groups.
For the uninitiated, a mastermind group is usually a small group of people who meet together in the spirit of helping each other grow their respective businesses. Napoleon Hill, the author of “Think and Grow Rich” defined it like this: A mastermind is: “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”
The idea is that when two or more minds meet in the spirit of harmony, a third “mastermind” emerges, with greater powers than the individual minds. This happens because everyone brings new perspectives, experience and ideas.
It doesn’t have to be about money or business; it could be about getting in better shape. In fact Weigh-Watchers is a mastermind of sorts. The weekly meeting / check ins create accountability and support of their definite purpose, which in their case is losing weight.
In fact, all coaching relationships are based on the mastermind principle. Charitable organizations are masterminds. Companies are masterminds.
Over the years, I’ve been a participant in many masterminds; some better than others. However, they always produced great results. Of course, you get out what you put in; so don’t half-ass your contribution to the group. You have to genuinely want to help others.
I estimate that over the years, I’ve invested at least $60,000 in mastermind & coaching groups, including Strategic Coach and some high powered internet marketing groups. One helped me grow from $2,000/month of MRR to $10k/mo MRR over the course of six months.
I’ve recently joined a local mastermind group. It doesn’t require an investment of money; i.e. there is no one collecting a fee. And I’ve been involved with them for a little over 1 month. We each bring unique, complimentary skills to the table. We’ve got a professional speaker, a web development specialist, and me: A marketer / podcaster.
Each week, we meet for about 1.5 hours, and go through our agenda. First, we review the purpose and rules of the group (you can input your email below, and I’ll send you the document templates) and then we go through the agenda.
We recount our wins from the last week.
We have a brainstorming focus, each person gets about 10 minutes to present a sticking point where we can help or discuss.
We set goals for next week.
We acknowledge each others’ contributions and express gratitude.
I’ll send you the whole meeting outline if you just drop your email in the box below.
Ok, “great,” you say, “but how do I attract members?”
And “what kind of members should I look for?”
Or, you think, “I’m just starting out, I don’t know what I can offer to the group!”
First, stop projecting your anxiety. Even if you’re just starting out, there may be more experienced people looking to mentor you. When the mastermind happens, others will see the spark in you. This is why diversity works: Someone more experienced will be invigorated by your enthusiasm. They will want to share knowledge. In exchange, you bring hustle and hope.
So how do you attract others?
Just start talking about it… post something on FaceBook, Instagram, but really you want to have conversations. Talk about your goals & dreams, and how you can achieve them.
You probably know of someone who has achieved the result you’re looking to achieve. Or maybe someone in a slightly different field that is successful. Maybe someone who runs a successful local business; or someone who does good work in the community. You might know someone in your church or synagogue, gym, or yoga class.
But really, you’ve got to put yourself out there a bit.
I’m not a huge fan of the Law of Attraction which generally says: “like attracts like” in that similar vibrations will be drawn to each other; but I do subscribe to what my friend Joe Vitale (one of the stars of The Secret) says: “You still have work to do. That’s where the Law of Right Action comes into play. Do something to assist the attraction of what you want.”
So you have to put yourself out there; talk to people, try some groups. And find a way to be helpful to others and help support their growth too.
Have you ever been in a mastermind group? If so, how did it go? Please share in the comments below.
And when you’re ready to get those templates outlining the rules and meeting agenda, click below and I’ll send them right over.
Click Here to get my Mastermind Template Including the Agenda & Accountability Check-in Page!