Expand Your Mind with a Mastermind Group

“The Master Mind is the coordination of knowledge and effort, in a spirit of harmony, between two or more people for the attainment of a definite purpose.” ~ Napoleon Hill in Think and Grow Rich

I first heard the term “mastermind group” in the very early stages of running a business, before I’d actually registered the name Strawberry Communications. Then I assumed it was beyond my capacities as a business owner (I hadn’t even realised I was running a business at that point), but I’ve since discovered the incredible value of having one – or more – mastermind groups to help drive my business.

Business leaders from around the world use mastermind groups to help them focus their efforts, plus draw on others’ knowledge, resources, energy and networks. The groups are made up of 5-8 like-minded people who are at a similar level in business.

I have been a member of an international mastermind group for two years now and we meet online monthly. I’ve also recently joined a group that meets in Launceston every month and we call ourselves Motivational Minds. While both groups share similar formats by giving each member time to discuss an issue they need help with and then setting goals for the month ahead, they are also different in that the international group has members from different cultures and time zones whom I have never met in person, adding a new dimension to the idea of looking at something with fresh eyes, whereas the local group meets in person so we have visual cues and I know the members.

Here are the goals I set when starting with Motivational Minds:

What is your intention for being part of the group/what are you hoping to bring to the group?

I want to be inspired by a group of like-minded business owners who can help push me to achieve my goals and provide alternatives when I need advice, plus I want to contribute to mind growth for all members.

What are you hoping to gain from the group?

Inspiration, motivation and my conscience.

What are the three top challenges/issues you are currently facing in your business?

Time management, handling growth and systemising.

Do you have a personal goal you’d like to work on achieving alongside your business goals?

Writing my book!

I am already working to achieve these goals and find having a group of people who ask me for monthly updates, along with business mentors, keeps me accountable and encourages me to keep chipping away at the tasks to get the results I want.

One of my business friends, Janet Beckers, is a member of several mastermind groups and shares her experiences about one that meets annually, like a board of directors, here.

Are you a member of a mastermind group? How does it work for you?