Have you ever wondered if there is a way to boost your mindset and business without paying hundreds, or even thousands, of dollars to a coach or mentor
The answer is: YES YOU CAN!
Last week I got together with 2 of the 3 members of my mastermind.
Before I tell you how it works and what we accomplished during our 4 days together, let me tell you how this mastermind was born and how it has grown over time.
This incredible group that I am part of, (there are now 4 of us), started with just two.
We knew that a form of accountability and support, (that we didn’t have to pay for), could be very beneficial to each of our businesses.
It wasn’t long before we added a 3rd member and it’s been that way for two wonderful years.
At the end of last year, we decided that there was room to add someone new to our group. So we handpicked a new member and invited her to join. We knew that she would add a completely different vibe and breath of fresh air to our group because of her area of expertise.
She’s been a perfect fit and now our mastermind is officially a foursome.
How the mastermind works
There are lots of ways to structure a mastermind but here’s how our group works.
We have a standing one-hour call every Wednesday morning. The four of us jump on Zoom to share our wins, struggles, bottlenecks, etc.
The idea is that each person walks away with an action plan that they can implement in the next week.
This weekly call is such a breath of fresh air each and every week. We laugh, we cry, we cheer each other on, we strategize, plan, organize and everything in between.
The power of four collective minds working on one specific topic is a powerful experience.
What happens when we meet in person
In addition to our weekly calls, we meet in person two times per year.
We always try to meet in fun places so we can spend a little time exploring the area.
We’ve met in California, Florida and this time was in Scottsdale, Arizona.
Our live masterminds are different than our weekly calls.
We each come to the mastermind with one specific business problem that has been holding us back. It’s usually a BIG problem that we just can’t figure out how to solve on our own.
We present our problem and together, as a collective group, we go to work building a plan, a solid strategy that each member can implement when they return home.
We’ve built sales funnels, redefined business models and even drafted entire annual profit plans.
The only real equipment we need is a big white board, markers, and notebooks.
Once we map out the solution on the white board we take a picture of it on our smartphone and move on to the next person.
How long does each person get in the hot seat
Each person ends up with approximately 2-4 hours in the hot seat dedicated to the rest of us helping them solve their problem.
We never do more than two hot seats in a day.
Because they are intense!
Because they are draining!
But… WOW, are they powerful!
They key factors to start your own mastermind?
As I mentioned earlier, our mastermind started with only two of us and has slowly grown to four people over the past 2+ years.
In my opinion, there are a few key factors to keep in mind when starting your own mastermind.
A smaller more intimate group is better.
While you may think bigger is better, the complete opposite is true. Whether it be on your weekly calls or at the in-person retreats, a more intimate close-knit group will prove to be much more beneficial to you and your business.
A smaller group allows each of you to get to know one another’s businesses on a deeper level so you can offer more targeted strategic advice.
Choose group members that are truly committed.
This may be the most important piece of the mastermind puzzle.
Members of your group have to be committed to showing up every week on the call. In other words, they build the rest of their schedule around this commitment.
A mastermind group has to be equal parts giving and receiving. Anything less throws the balance of the group off and can damage the overall mastermind energy.
Diversity is the icing on the mastermind cake
Creating a mastermind with diversity will definitely add incredible value to each member.
Choose people with different business models, target audiences, skill sets, and business practices.
You’ll all be able to learn from one another, which allows for each of the mastermind members to grow in ways they never imagined.
A good mastermind is the perfect blend of accountability, compassion, growth, education and friendship.
As time goes on you’ll wonder how you ever did business without these people in your life.
And there is a really good chance that you’ll become extremely close with these people and wonder how in the world you ever did ‘life’ without them.
If this sounds appealing to you I encourage you to start making inquiries. Speak to people you believe are a good fit. You can start small just like I did and slowly build over time when the right people come into your life.
Oh… and let me know how it goes by posting below. I love hearing your success stories.
This is just what I needed! Thanks for sharing this. I will be implementing this soon, hopefully
Hi Franca! I’m so glad you found this post helpful. Definitely keep me updated with the progress of your mastermind. I know you’re going to find it life and business changing! And that isn’t an exaggeration.