What you need to know to Thrive in a Mastermind Group
Embarking on the entrepreneurial journey can often feel like you are constantly walking alone and in the dark, lost and confused. This is why you hear a lot of people talking about how being an entrepreneur is only for the brave and strong. If you cannot handle the heat, you will definitely be consumed by it. However, those people who got severely burnt along the way, were probably trying to do it alone. As George Shinn says, ‘There is no such thing as a self made man. You will reach your goals with the help of others’.
Famous author Napoleon Hill, conceptualizes the need for having a team backing you up, using a physics illustration that most of us may be familiar with. When you connect several batteries to one wire, the amount of power that the wire can transmit increases thanks to the many batteries connected. In the same way, you can reach your highest potential when you are part of a lineup of powerful minds stimulating each other to reach their highest potential. This is most often achievable through joining a mastermind group.
As discussed in previous articles, a mastermind group is a peer to peer mentoring group used to help members solve their problems with input and advice from other group members, who are like-minded individuals, in a setting where you all understand your mission and encourage each other to pursue your goals.
Understanding the basics of a mastermind group and knowing why you need it however, is only the first step of the process. It would all be absolutely useless to be a part of one if you were not able to maximize on its full potential. Thriving in a mastermind group requires a delicate mashup of your personal and professional goals, your outlook on what is most important to you, as well as how well you interact with others.
First and foremost, before you consider joining a group, you need to do a serious introspective analysis of yourself. The most important questions you should ask yourself are:
a. Where are you? You need to be 100% honest with yourself first about what stage you are in, in your journey as an entrepreneur. Do not be overly downcast if you are probably not where you wanted to be, at least you are taking steps in the right direction in order to get there.
b. Where do you want to be? This may sound obvious, but most people only have a vague concept of what they want to achieve. You need to have a clear, well outlined picture of your vision and goals. Don’t just visualize it, make it more tangible.
c. Why do you want it? What is your driving force? What gets you out of bed every morning? It is important to thoroughly examine and determine your main motivation, as this will determine how well you handle those extra hard disappointing days. If the reason is superficial, you will easily give up at the first sight of trouble.
d. How will you get there? More than writing out your goals, you need to map out a route to guide you, and in which you can refer to anytime you find yourself straying away from the goals.
Once you have all this outlined and clear, the next step of finding others whose vision is aligned to yours will be fairly easy, because you know what you want to achieve through being a part of the team and will therefore not settle for less. Skipping this stage is the equivalent of walking into an auto shop and expecting to come out with a brand new Rolls Royce, with a budget that can only afford a bicycle.
Next you need to work on your attitude. A mastermind group may be one of the best ways to accelerate or catapult you in your pursuit of success, but if you lack the intense discipline that it requires, you will stagnate and fall into the trap of badmouthing all mastermind groups in general, saying that they do not work, or that you can never seem to find the right fit for you.
a. Participation. Every collaborative project is often hinged on the energy and interactivity of its individual members. The concept of ‘givers gain’ dictates that most often, those who are open and willing to contribute value, gain the most value from an experience. Do not be timid in the guise of learning in the background, remember that you also have a unique value and perspective that could help change someone else’s life. In order to gain a support system you will definitely also have to be willing to give your own support.
b. Open mind. The secret to a successful mastermind group is brutal honesty. For you to grow, you need to have people who will tell you some painful but important truths that will steer you away from bad decisions. During meetings, there is a session purely dedicated to a hot seat, where one member is put on the spot and their goals, their business decisions and their outlook is thoroughly scrutinized to figure out whether they are headed in the right direction. If you’re not open minded, you will view this as an attack on you and miss out on the important lessons that you need to take home with you
c. Commitment. If you want a good return on your investment, then you have to put in the work and the time. Discipline is key. This means that you have to be willing to attend every session, work on any action plans and tasks assigned, as well as be willing to be held accountable for all your decisions. You need to have a ‘here to stay’ kind of attitude. You cannot slip away the first chance you get, just because you feel like you’re being pushed beyond your limits. It may be hard or uncomfortable, but it will definitely be worth the effort that you put in.
To summarize, how well you thrive in a mastermind group depends on no one else but you, your attitude and your personal effort. Remember that ‘The strength of the team is in each individual member and the strength of each member is the team.‘
Why not put all this great tips to good use by taking part in our very own students mastermind group. It is absolutely free to join! The meetings will occur Virtually over zoom, every Sunday at 8:00pm – 9:30pm EAT. If you are interested in joining, or have further questions, simply send us an email at email@example.com to reserve your space for the next session. We believe that students are intelligent, innovative, adaptable and creative, so when we unite, together we can make a huge difference in our communities.