Have you ever watched the TV quiz Mastermind? Or maybe, if you’re as old as me, you’ve played the game? Well, I’m not talking today about the Quiz show OR the game… But rather, I wish to build on yesterday’s post and talk today about Mastermind Groups.
Many people have cited the origin of the Mastermind Group as Napoleon Hill’s totally awesome 1937 book, “Think & Grow Rich“. In it he wrote about the Mastermind principle as: “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”, via Passion for Business.
My personal top 10 tips for running a successful Mastermind Group are:
- Exclusivity – Try to restrict the number of people to a manageable amount. There is not hard and fast rule. However, my most successful mastermind groups comprise between 5 and 8 attendees, which works really well. We already fill the time quite easily, (circa 60-90 minutes), so increasing the number to more than that could prove challenging.
- Motivation – the calls or meetings will only work if the people you work with are as motivated as you. Ensure you involve people who share a common purpose or interest.
- Rhythm – ensure you hold regular meetings. Set a frequency and time that suits the people in your group. Acknowledge not everyone will make it all of the time, but your chances of having productive meetings are much improved when you are all in attendance.
- Facilitate – Be prepared to run the meeting. One of you needs to take the lead and play the role of facilitator. Ultimately, your goal is to ensure everyone contributes and the agenda gets covered.
- Structure – it really helps if every meeting follows a set structure. That way you are more focussed on what your fellow Masterminds are saying rather than trying to keep track of where you are on an agenda.
- Respect – it’s important to the cohesion of the group that everyone has a chance to say their piece and ask their asks, so try to keep everyone to time and make sure everyone contributes.
- Assistance – Focus on how you can help one another. The business world can feel very lonely when you’re off doing something different to your friends. One of the best aspects of a Mastermind Group is the mutual support, encouragement and guidance you can offer one another.
- Share – find a resource that others might find useful and bring that to the party. In this day and age, with the proliferation of apps and the sheer plethora of media content to consume, why not share one resource you’ve discovered that you think could help someone- or everyone-else in the group. When time is of the essence, providing people with shortcuts to things they will value can be immensely gratifying and helpful.
- Accountability – the whole purpose of Mastermind Groups after all is working together towards a ‘definite purpose’. This group you have is there precisely to help each and every member to get where they want to go through mutual support and assistance.
- Perspectives – I’m borrowing this from Sid Savara’s ace article on Lifehack. Hearing the different views my fellow mastermind participants have allows me to see issues I wouldn’t otherwise become aware of – in my life, and in my approach to my goals. Whether I agree with their assessment or not, it always gives me a better understanding of how I can better improve my approach.
Now I am not suggesting this list is exhaustive. So why not share your own thoughts below.
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