6 Tips to Creating a Successful Mastermind Group

  |   Leadership, Networking, Self Improvement, strategy   |   No comment

Recently I had the opportunity to attend one of the largest social media conferences in the world, Social Media Marketing World. This conference was born by the founder of Social Media Examiner, Mark Stelzner. The conference over the last few years has grown to over 3,000 attendees with some of the most intelligent minds in business presenting and attending. The thing I heard the most during the conference, was “How do I continue to connect with like minded professional in my hometown after the conference?” It got me thinking how important having a mastermind group is to be able to leverage ideas and concepts on a monthly basis. I am fortunate to belong to such a group in Utah, but if you don’t have a group set up, what is the best way to do that and make it successful?

You can either choose to hang with people that pull you down and mock you for your big ideas and crazy dreams, or you can surround yourself with passionate people that have a “can do” attitude and help you rise to the top. Being part of a successful networking group can help you as a business or entrepreneur to get to the next level. The success of a mastermind group is one that operates in a way that helps each member as well as the group as a whole.

6 Tips to Creating a Successful Mastermind Group

Here are a few ways that you can set your mastermind group so it is a huge success:

  1. Decide who you want as members – Your group could be invitation only or you can open it up to a large group of professionals. Decide the types of people you want to collaborate with and get to know better. Decide if you will be meeting in person or virtually. This will determine if your group will be local members or people from all over the world. Do you want to meet with people that have similar experience as you, or do you want to open it up to many different skill sets? These are important questions to ask so you don’t change your goals midstream.

  3. Create a vision statement for the group – One way to make sure the group is successful is to create a vision statement for each member as well as the group. By doing this, you will make sure that you have a reason for meeting every month. I have been in several groups that didn’t really have a purpose other than getting together. The excitement of the group fizzled and we stopped meeting after a few months.

  5. Develop meeting roles – Having structure to your meetings is always a good thing. Decide who will be the moderator each week. Who will be taking notes or sending up a follow up email with action items after the meeting. Who will be responsible for finding a location for your meet up or organizing food if that is part of the agenda? Being organized makes the group feel more professional and keeps the meeting from turning into a social gathering without a purpose.

  7. Have each member share a tip or concept monthly – The benefit of learning from a group like this is to gain perspective and support you wouldn’t necessarily have had before. Each month, take turns teaching the group something that you know really well. This creates an environment for learning and makes sure the meeting has value each time you get together.

  9. Develop open communication – The benefit of having a group like this is to bounce ideas off each other not only at meetings, but when ever you need to as well. Consider creating a Facebook group and adding each of the members to it. This is a great way to have a conversation that is organic and casual and that does not clutter up your email inbox. If you have a question or a need, put it out to the group and you will be surprised how much people are willing to help you out. This is also a great way to connect with people not in your immediate area. I have connected with people from Iran and Australia in groups. It has brought me such different perspectives that I wouldn’t have otherwise received.

  11. Keep energy high – It is normal for groups to lose momentum or feel stagnant from time to time. Take breaks during your normal meeting time or change up the flow of the meeting so it doesn’t become mundane. Find ways to serve others as a group. This always brings unity and amazing results. It is also appropriate to do something fun that isn’t work related. This will also create stronger bonds between members and help you get to know each better as well.

Mastermind groups can be a great way to connect with like minded individuals to support you in your business goals or leverage new ideas. Start with a small group and if it goes well, expand it. Some of my greatest connections in business have come through mastermind groups.

What types of groups have been success for you and your business? 

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