When Dan and I first got on the road and started our own business and blog, we didn’t know anybody in our lives who were doing the same thing. We were doing it all on our own, from our previous experience and research we had done online. And although things were going fine, being isolated in a silo doesn’t work for long.
Benefits of a Mastermind Group
One of the main benefits of creating or joining a mastermind is that you’re able to connect with other people who are walking the same path as you and determined to see success.
Because of that, you have built in accountability for setting and achieving your goals. You’re meeting with this group weekly or bi-weekly and you’re not going to feel good going into a meeting saying you haven’t done anything to advance your business. Plus, seeing other people in your mastermind working hard at their goals will help inspire you to work at your own!
You’re able to ask questions and get advice. Like I mentioned earlier, as online business owners, it’s easy to be stuck in a silo making your own decisions without having anyone to bounce ideas off of. With a mastermind group, you’ll be able to get insight from different perspectives on decisions you want to make for your business.
You can also form great friendships from a Mastermind group! Obviously this one isn’t guaranteed, but it can happen really naturally. You’ll be sharing a lot with the people in your group – the ups and downs of your business. They’ll be there to encourage you and help guide you. And if it’s anything like our Mastermind, you inevitably end up talking about things going on in your personal life as well. They ultimately become your support for both the business world and your personal world (if you want)!
How to Create a Mastermind Group
Determine the Focus
First, you want to determine what you want the focus of your Mastermind to be. Do you want to talk about blogging/content creation? Do you want to talk specifically about photography? Videography/YouTube? Or something more broad?
There’s no right or wrong answer here. It’s just important to think hard about what you need the most help with or which area of your business you’ll get the most benefit from some consistent advice.
Now that you’ve determined the focus of your mastermind, it’s time to start reaching out to people to see who might be interested in joining you.
Dan and I originally reached out to a few couples we had connected on Instagram with, but that’s before we had access to the Nomad Collab community! We suggest start by reaching out at: Let’s Start a Mastermind Group!
You can either post what you’re looking for, reach out directly to someone who has already expressed interest there, or both! There’s also no harm in messaging someone directly from the community that hasn’t posted in that group yet, either. Put yourself out there!
Tips on Running a Successful Mastermind
A few tips for running a successful mastermind group:
Keep your group to 4-6 people. The smaller your group is, the more you’ll have an opportunity to ask questions or share what you’re going through.
Set a structure for your group meetings. A formal agenda helps so that everyone in your group has the opportunity to speak, ask questions, and get the help that they need. Without a formal agenda, there will be someone who feels like they can’t jump in and won’t get the same benefits as the rest of the group.
Here’s a sample agenda:
- Round Robin: Each individual gets to share their wins since the last meeting. What goals did you achieve? What success have you seen since the last meeting? What’s something you’re looking forward to?
- Hot seat: The person(s) in the hot seat get an allotted time period to talk about their struggle(s) or question(s) to the group. The group then provides feedback, suggestions, and encouragement to the person(s) in the hotseat.
- You can divide your hour of time with the hotseats in a couple different ways. Maybe you want everyone to have a chance to be in the hotseat each time you meet. Maybe you divide the hot seat slots so that each member gets a chance in the hot seat every other meeting – this allows more time in the hot seat, just a little less frequently.
- Depending on how many people you have in your Mastermind may determine the best way to decide on hot seats.
- Round Robin: End the meeting with each member sharing their business goal(s) they want to accomplish by the time of the next meeting.
The other thing you’ll want to be clear about before setting up your Mastermind is when and how often you’d like to meet. Will it be during the day or in the evenings? During the week or on the weekend? Do you want to meet weekly, every other week, or monthly?
Again, there’s no wrong answer here, but the most important thing is that everyone in your new Mastermind Group is committed to attending these meetings as if they were client meetings. You want every member to attend each meeting to make sure everyone gets the most out of this group. Cancelling and rescheduling often will throw off your group’s groove.
Have more questions about setting up a Mastermind group? Let us know in the comments below.