What a Mastermind Can Do for Your Success
By Melanie Benson Strick | January 20th, 2010I’ve participated in mastermind groups of one form or another for over 20 years. Early on my experience was focused on manifesting houses and marriage partners. Today my mastermind experiences have transformed into business owners helping each other achieve massive growth and wealth. I have even created and launched mastermind programs for other companies and have facilitated high-level masterminds for small groups of entrepreneurs.
I love masterminds. The connection. The bond. The results.
There is something magical that happens in a mastermind group (at least the way I run them) that just doesn’t happen when left to our own devices. It’s even difficult to access in private coaching.
Napoleon Hill in Think & Grow Rich talks about the ability to access a “third mind.” It’s a lot like a think tank – the synergy of different ideas, experiences, business models and knowledge comes together to create an out of the box idea you just can’t connect to on your own.
I’ve witnessed it first hand…one person shares, another builds on top of it, then as the coach I swoop in and put a structure around the idea so the member can be in action.
In my own mastermind experiences I’ve uncovered gems around marketing, leadership and client fulfillment that I never knew existed. I was able to tap into a wealth of marketing experience that would have taken me 20 years or more to uncover on my own.
Not to mention the relationship bond created with mastermind partners.
In my own masterminds, we’ve given to each other what clients pay thousands for. Because we believe in each other and genuinely want to see each other succeed beyond our wildest dreams. Life long friendships, powerful strategic alliances, access to privileged industry secrets – it all comes pouring out.
Another benefit is that often mastermind partners see the opportunities that are in your blind spot. Something you’ve dismissed a thousand times the mastermind will present to you in a way that you see the million dollar pay off right in front of you.
The cherry on top is when you know you can’t play small because your mastermind partners are holding you accountable – they are challenging you to play bigger and get outside your comfort zone.
So here’s the big question for you:
What would you do differently if you knew your mastermind had your back and you couldn’t fail?
I’d love to hear what you would want from a mastermind or even what your experience has been in the comments below.
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January 21st, 2010 at 1:19 pm
My expriences have varied over the years. I have participated in both paid groups and non-paid groups and I have found that the groups where I have not personally had a hand in selecting the participants, the experience was disappointing. I have left paid groups led by great people because half of the participants repeatedly failed to show up.
I think my own screening process is much more selective and at the very least I know what I am looking for in my group, the climate, the commitment and the knowledge base. The more I mastermind, the more I grow and the higher the standard becomes. No surprise, in essence, it all comes down to Goals… is the participant clear on their goals and are they committed to achieving them? If our goals are aligned with each other, we are true Goalmates and make amazing progress together.
I am assembling another group to work/play with right now and look forward to my greatest mastermind experience yet.
Looking forward to hearing about other people’s experiences.
Live Your Dreams,
Jill Koenig
America’s Top Goals Coach
January 21st, 2010 at 3:01 pm
Great observations Melanie! I too have participated in several Mastermind groups, both that I have paid for and others that have been made up of like minded women (of offense guys, it just happened that way) and there are pros to both types.
In a paid MM putting “skin” in the game is a critical component and a way too be held accountable) at least in my opinion and there is usually a level of that higher expectation bar. I have been part of a few and some of I “clicked” with and some not so much, so it’s vitally important when making an investment like that that you do your research…equal responsibility also lies with the person running the MM group in ensuring that the participants are not only cohesive, but also challenge each other. It should also be considered a learning environment.
The other MM I’ve participated is in just meeting with like minded women and bouncing ideas off of each other, working together on projects, and in general supporting each other. There is a level of security and comfort because you have been drawn together naturally and it may feel “safer” initially to share ideas and thoughts.
Both have contributed MIGHTILY to my success and I highly recommend them as well:-)
Warmly
February 17th, 2010 at 10:14 am
I totally agree Danielle — great insights and I love how you point out the “skin in the game” is crucial.
February 21st, 2010 at 9:02 am
Great post Melanie. I participate in two mastermind groups. I find them to be extremely valuable to a successful business. They can help hold you accountable while allowing you to contribute to the success of others. Every time I meet with my group I learn something new. Thanks for sharing.
March 2nd, 2010 at 4:31 pm
Totally agree Todd…curious — paid or self-guided group?