At 1:00 am this morning I arrived home from my quarterly mastermind in the heart of New York City (SoHo). New York in the spring …..ahh, nothing like it. Quaint cafes, flower shops, and chic boutiques…..not what I went for, but nevertheless, some of the many side benefits of being in one of the coolest coming-together-of-the-minds.
Why a mastermind?
[quote author=”- Napoleon Hill”]A Master Mind is when two or more people work in perfect harmony for the attainment of a definite purpose. One of the chief benefits is that each person can draw on the education and influence of the others.[/quote]
For me the benefits of the mastermind are many:
Accountability: At each and every mastermind, we commit to what we will do before our next one. And of course, as part of that, we need to report what we actually did and where we are with our “plan”> There is a huge difference in progression when there is a “return and report” factor. I know my mastermind sisters have my back and also that they will hold me in my excellence and accountable for what I say I’m going to do.
Honest Feedback: One requirement for a mastermind to really work is to put on your big-girl pants and toughen that tender skin! Because The Mastermind is where THE TRUTH is told! I know I can count on my mastermind team to tell it like they see it along with a more accurate perception of how I’m showing up in the world. You can’t be objective about yourself! We need feedback from a close group of friends to hold up a mirror so we can see the good….and the not-so-pretty because it’s the honest truth that helps us grow. I got some really blunt feedback on both my 1 hour presentation as well as how I’m perceived when people first meet me. (Both things to work on and very appreciated! )
Hot seats: In my mastermind – we each have 50 minutes to do a presentation on the current state of our business and then to ask for the help and feedback we need from the group. Of course your hour is GOLD, but even participating in the other members “hot seats” helps me be a better coach as well as glean ideas that aren’t necessarily directed at me, but are equally applicable to my business.
Plan of Action: During a 2 1/2 day mastermind, there is time to look into the future and make a plan for the next quarter. I write pages and pages of insights that I learn from feedback on my business as well as other inspiring ideas that were shared. At night and on the plane ride home, I organize my thoughts and ideas and create a concrete plan for the next 90 days. This is the blueprint for the business that keeps me on track (of course – all is added to the updated LifeVision)
Celebration: A critical piece of the mastermind – where we not only get to brag, but are actually required to talk about the top 3 things that are working in the business. Why? Because it’s fairly typical for an entrepreneur to be hard on themselves and to only look forward and forget about the progress they have already made. Oh…so guilty on this one. So take a deep breath and share your biggest breakthrough and accomplishment for the past few months!
Collaboration: Honestly, this is the ultimate fringe benefit of being in a mastermind. 
Now you have an entire group of people that are willing to work on projects with you (particularly Joint Ventures – JV’s that benefit both). In the past month I have Joint ventured with 2 of my mastermind members. This is a way to get exposure for my business to other types of people in other parts of the country! It’s so fun to host a call or plan a retreat as you get to know these team members and combine your strengths
Skill Set (implementing new ideas). As part of my current mastermind, my business coach takes several hours sprinkled throughout the 2.5 days to teach and train on topics that collectively the group is weak on. I love learning from someone who has already done what I’m aiming to do. I always find it uncanny how relevant the topics are to my own particular needs (the skill of a great business coach)
How to create your own Mastermind:
How to Create and Run a Mastermind Group
Create a Mastermind Group for your Coaching Market
7 Real-Life Tips for Creating a Successful Mastermind Group