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How to Start a Mastermind Group

Posted on October 5th, 2015

One of the buzzwords that seems to be everywhere in business these days is “mastermind.” The truth is that there are a number of benefits associated with joining a mastermind group. However, in order to truly realize the benefits, you need to organize your group in a way that allows you to reap the benefits.

Figure Out What You Want to Accomplish

Your first step is to figure out what you want to accomplish with your mastermind group. Before you start a mastermind group, think about your goals and the outcomes you are looking for. In some cases, you want to be a little bit broad, as in looking into ways to improve your business, or how to start an online store. Other times, your mastermind group goals might be a little bit narrower, such as learning a specific marketing technique or some other skill.

When deciding what to accomplish, make sure that you understand whether or not you want your group to be ongoing, working on continuing goals related to your business, or whether it’s a limited mastermind group, started for a specific purpose and finite in timing.

Once you know what you want to accomplish, the next step is to decide who should be in your group.

Deciding on Mastermind Members

When you start a mastermind group, you want to make sure that the members can all help each other with their goals. There are ways to look for mastermind groups, or you can start your own. Look for people who have similar goals so that you can help each other move in the same direction. This doesn’t mean that you all have to be trying to do the exact same thing; many successful groups include people with different backgrounds and in different fields. The idea is that you are all roughly in the same place and looking to move to the next level, and that your goals are similar enough that you can help each other, whether it’s learning about marketing, expanding your audience or some other objective.

It’s also a good idea to look for people with complementary skills. Having an SEO expert in with marketers, podcasters and others with different strengths can help. This is because it’s a way for you to lend your expertise to the group while getting help with something that you might not be as well versed in.

You should also look for those who are committed to the process. You want someone who is reliable, and will be in it for the long haul.

Regular Meetings

You don’t have to start a mastermind group with the idea that you have to meet each week in person. While weekly meetings can help because it keeps you accountable and allows you to surround yourself with people who are on the same track, it doesn’t follow that you have to meet in person. Consider meeting via Skype, Hangouts or over the phone. There are a number of free and low-cost options that can allow you to meet from a distance.

However, it still helps to meet in person every once in a while. If your lifestyle allows it, you can benefit from meeting once or twice a year in person. You can have a retreat of sorts, and really do some serious work all day long, rather than just for an hour or two.

No matter how you decide to manage your meetings, though, it makes sense to include an agenda. Have an idea of what you will talk about, and what you hope to accomplish. Sticking to the meeting agenda can ensure that you move forward and that your efforts are focused on what’s most important.

If you are stuck, and hoping to get a little help moving to the next level, it can make sense to start a mastermind group. Think it through and look for like-minded people, and you might be surprised at what you can accomplish.

Deanna Ritchie

Deanna Ritchie

Deanna Ritchie is a financial editor at Due. She has a degree in English Literature. She has written 1000+ articles on getting out of debt and mastering your finances. She has edited over 40,000 articles in her life. She has a passion for helping writers inspire others through their words. Deanna has also been an editor at Entrepreneur Magazine and ReadWrite.

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