“Why joining a Mastermind Group will help you succeed”
40% of new business fail within the first year, more in the first five. In fact, only about 4% survive to year ten and beyond! Depressing isn’t it?
What if I told you that you can put yourself in a better position to succeed by simply sharing your time, with other like-minded and motivated individuals?
What is a mastermind?
A mastermind is a peer-mentoring group who meet on a regular basis to push each other to work to their highest potential and hold each other accountable.
Successful individuals such as Benjamin Franklin, J.R.R. Tolkien, Henry Ford and Thomas Edison, all met with groups of like-minded people on a regular basis, to help one another achieve common goals and grow.
Napoleon Hill introduced the concept of masterminds in his book ‘Think and Grow Rich’ (1937), with more and more companies forming each day (approx. 60 a day in Ireland) the need for a platform to share and seek support is huge!
What you get when you join a mastermind
- Accountability – one of the most successful attributes of a mastermind is the group accountability. Saying out loud what you want to achieve in a safe environment is very powerful for success.
- Feedback – A mastermind group will give you feedback from people who are trying to build a business just like you. They have a special insight and mindset that is hard to find. Other like-minded entrepreneurs will tell you what’s wrong or right about your ideas with no bias. They are not your customers and they are not your competitors.
- Collaboration – Not only does your mastermind group allow you collaborate on ideas but you can help people or get people in your group to help you with projects or tasks.
- Networking – You will connect with people, who know other people, that might be able to help you out or that you might be able to help out. The more you expand your network, the more doors open up for you.
- Resourceful – The blending of different backgrounds, skills and knowledge creates a fantastic environment for you to learn, play off of your strengths and correct your weaknesses.
- Support – provides encouragement to keep you going when you encounter hard times in your business, it is a place where members can get their questions answered and solutions to their problems.
How does it work?
My mastermind group meets every week at an agreed time (normally Tuesday afternoon via Zoom) over a 6-month period. The format is a mixture of both formal (so everyone gets enough time) and informal (to get creative) business discussions.
- Goal setting for 30 / 60 / 90 /180 days
- Mastermind calls every two weeks
- Share your wins
- ‘Hot Seat’ each person gets to discuss what they need help or support in.
- Check in on your goals
- Set goals to be achieved for next meeting.
- Live training sessions once a month
- Virtual Co-Working – keeping each other accountable to get work done!
- Private Facebook group for sharing and accountability
My next mastermind group will be starting in Sept 2019 and if this sounds like something you would be interested in? Contact me here, and I will be in touch!