Due to their popularity, it is time for us to look at the benefits of a mastermind group. You hear about them often amongst coaching, training, and success podcasts and sites. They are praised by many of the successful across all industries. However, all of that positivity is often generic and avoids providing any valuable details. Even worse, they tend to be costly in both time and money. Therefore, it is worth our time to explore this tool of success.
The Desired Benefits Of A Mastermind Group
First, we must agree that all mastermind groups are not created equal. Some genuinely embrace what the outcome should be, and some are mostly a money-making service. Yes, there can be a price difference. However, that is more of a differentiator than it would be in a perfect world. At the same time, there are several soft or general benefits to a good group. Some should make your list and convince you to take the plunge into one.
You Are The Average Of Those Around You
This truth, meme, or whatever you call it, is one of the most critical pay-offs of a good mastermind. Unfortunately, it can also be the cost of a bad one. Think of your mastermind group as roughly your board of directors. Yes, you will talk about your job and company. However, the focus is on you succeeding, even if it is by your company thriving. The strategic talks and goals will focus on your business or career. Nevertheless, it comes down to your success in whatever form.
Do not get me wrong. The group will not be the people you live with until you die. Yet, they will be sitting in the foxhole with you during the course of the mastermind, and bonding will occur. Make sure you bond with people that drive and lift you up. Avoid those that drain and drag you down. A mastermind group is designed to be the former. Even when it is not a group of peers, it is still a group of people that can expand your horizons and offer an invaluable sounding board.
When we speak of them joining you in the foxhole, it is not in a direct way. The other group members have their own trials and stresses. Yet, they are able to listen to your struggles, commiserate on some level, and provide you suggestions based on similar struggles they have had or are having. Even better, they often are in a different environment and line of business. That gives them a very different perspective at times, even as yours provides them with new insight.
The other members get to know you and your struggles and even some of your back story. That makes them people who know things, know you, and can relate to your situation. What more could you want from an advisor?
It is rare for a group of personalities that sign up for a mastermind group not to push themselves and those around them. This trait fosters a form of beneficial competition. You each want to be given a gold star each meeting and accomplish the goals you set. While most members can drive themselves, there is always a little more push that comes when you are also trying to impress or at least keep up with someone else. Think of running a race. It is much easier to push yourself running next to someone who sets a good pace. Running alone can easily lead to distraction and a false sense of speed.
Goals, Milestones, And Accomplishments
Every good mastermind group includes goal setting for each member. Those goals are translated into milestones, and regular progress is expected. The expectation comes from the group as well as each individual. You set the goals and milestones, so you see them as achievable and push yourself to get there. Each member expects the same, both of themselves and the other members.
Blockers, Obstacles, And Surprises
It is hard to conceive of any plan in the history of man that did not have some challenges or unforeseen issues arise. Your mastermind group is there when these obstacles hit. They may have direct experience they can share or new ideas for working through your blockers. In every case, the benefits of a mastermind group are felt through the trials and tribulations we all face. They provide you with assistance when you have nowhere else to turn.
Check out our Mastermind options and apply for the 2024 season. We will help you find the best companions for next year.