How To Start A Mastermind Group
Those seeking success surround themselves like minds. That’s why developing and implementing a mastermind is commonly seen as the fast track to growth, development and success.
Your mastermind group should be comprised of men and women you have networked with; you know what they do, how they operate their businesses and you understand their goals. A mastermind is as effective as the focus of its members, so selecting people that are as passionate as you are about succeeding is important.
And keep your number small initially.
When I was a part of my first mastermind, we were only four members. I recommend starting with four or six because the contagious nature of success will multiply faster within smaller numbers. You’re never going to want to be the one person who comes to the meeting without their required reading completed, or who doesn’t have their goals written out for the week, month and quarter.
You also won’t want to be the one who has no wins to discuss from the previous week. As you can see, smaller numbers will create success by association. Smaller group size also makes individual accountability easy and meeting simple as we could meet at the local cafe and not need to reserve a lot of seating.
Rules of Engagement
Masterminds are governed only by the rules you set. I’m going to provide you a guideline of how my masterminds have run. This helped four guys each hit their yearly goals within six months.
Create group affirmations and read them aloud at the start of each meeting. They can be as long or as short as you want. These affirmations should serve as a reminder of the purpose of the group.
Choose a weekly meeting day, time and location and set in stone. Attendance is mandatory with the exception in special circumstances (i.e. holiday, family event). The location should offer a degree of privacy where you can hear each other talk, spread out your books and jot down notes. Pick a day like Saturday morning or Sunday afternoon, which tend to be available for most people.
Keep the meeting to 90 minutes or less. This will expedite the meeting while guaranteeing that everyone gets to share and speak freely. Remember, this is a meeting, not a support group. We are trying to encourage growth and not commiserate. Masterminds are designed to focus on challenges and present solutions, not be gripe about things that have gone wrong during the week or what someone said to you on Wednesday.
Do that separately.
Keep the membership to 8 or less. I like four to start, six is good, too. The larger the group, the longer the meeting. My observation from large groups are that people get lost in the cracks and that people don’t feel as connected to one another. The remedy for this is to keep groups small so that the focus stays tight and relationships can be built.
Book reading is the heart of a good mastermind. This can be done by author, topically or based on what everyone wants to learn. Titles by John C. Maxwell, Brian Tracey, Anthony Robbins and Maxwell Maltz are popular reads and easy to designate for group study. Books should be able to be completed in 1-2 months tops. Go too long and you risk people not following along or keeping up. There are the rare exception that are build specifically for 3 month study. Just make sure that everyone is on board.
Goal sheets help to manage the flow of meetings. They can list what you learned from the reading that week, what goals you will set based on that reading, what changes you want to make, and more. These sheets should be kept and cataloged in a binder or folder. You’ll want to refer to them often as you grow to measure your progress and to be an encouragement to you when you have tough days.
This is mission critical. Accountability partners serve as checkpoints for you to keep you on track. Accountability partners talk the night after the meeting and share the goals they have for the week. They then set call schedules for the week to check up on one another to help each other stay on task.
After you have finished the book study you have set to do, the way to celebrate your growth and wins for the month is to go out together for an outing as a group. This can be a night on the town, a golf outing, going to a sporting event, or whatever your group agrees to do. There is no right or wrong. The only stipulation is that you have fun.
Masterminds are designed to help you grow on an accelerated track. Doing this right can really energize you and make you successful faster. It’s an investment in yourself and others, so take advantage of this as a tool for building your brand and expanding your personal and relational growth.
Bonus App: We would recommend using Glip, an amazing application that lets you create teams/groups on the cloud and manage and assign tasks. With Glip, you get to increase your Team Productivity.
Also available on iOS and Android devices.