Almost every online business owner I know participates in mastermind groups. It’s a great way to gain perspective from other online biz owners in an industry where we work mostly alone. Mastermind groups can challenge, provide opportunities for cross-promotion and joint ventures, and provide access to a wider sphere of influence through networking. Napoleon Hill first created the concept of mastermind groups in his book Think and Grow Rich over 75 years ago now.
In this 2 minute video I ask if it’s time to quit your mastermind. I’ve had more than one client who didn’t move her business ahead despite being in a few mastermind groups. Here’s the story and the question you might want to ask yourself.
I’d love to hear whether you feel like you need to quit your group. Has it become too comfortable for you? Leave your comment below to share your experiences with others.
Want more about life as a small business owner? You can read about how to keep your values in your business by clicking here.
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Mira Dessy, NE, The Ingredient Guru and author The Pantry Principle says
Definitely thought provoking. I’m part of two mastermind groups and when I sat down to assess them I think they’re still both a good fit for me. But good to take the time to assess why I’m in them rather than just operating on autopilot.
Mitch Tublin says
Sue,
As an expert who runs multiple Mastermind Groups
I often challenge members of each group to set three
types of goals. The top level are the highest dream goals,
the middle are the stretch goals and the the third level are
goals which will take effort to achieve yet are clearly within reach.
Regardless of your level, with this being part of any Mastermind Group
it keeps the participants engaged.
With that being said, sometimes a change in a group is necessary.
It helps to run multiple groups as this permits me to offer other groups
as an option to someone.
Great topic.
Lisa Manyon says
Sue,
What a great message. I think you must always have a clear strategy for any group you’re involved with. This is especially true if you want to build your business. Being challenged is KEY.
Write on!~
Lisa
Heidi Alexandra The Company Culture and Brand Architect says
Great points Sue – I have beneifited in the past from mastermind groups but had to stay really focused on why I was in them. At the moment I have a coach who I am working with one on one as I need the absolute focus without the distraction of trying to be a great contributor to others. There is always great value in the collective mind though!
Sue Painter says
Heidi, I agree with you – masterminds are good for the community and multiple perspectives, but sometimes you just need to hunker down around a particular project or focus in your business.
Mary Ellen Miller says
Sue, I only briefly had a mastermind group and that’s been a couple of years ago. I get more out of my advisory board and their counsel. I think that this sounds like playing tennis: you always want to play with someone better than you so you’re challenged!
Sue Painter says
Mary Ellen,
I’m not sure that your board isn’t the same as a mastermind would be for you – other than it’s not quid pro quo. Interesting to think about!
Tandy Elisala says
Hi Sue,
Great post and good food for thought. It’s good to assess these things for our own development. I am part of 5 groups with three of them being fairly recent. So far, I am learning tons and getting lots of value from them. One group I feel isn’t worth the time and money based on a lack of participation and mentoring. I feel I’m in a different place now than I was. This was a timely article for me. Thanks!
Sue Painter says
You’re welcome, Tandy. Just like networking groups and other professional organizations, mastermind groups change over time. It’s sometimes a great fit and sometimes not.
Trudy Scott, Food Mood Expert and Nutritionist says
Great discussion and good question – have you outgrown your mastermind group?
I am part of 2 mastermind groups (which are wonderful) and this is getting me thinking – I wonder if I have outgrown one of them? I am also part of an online FB group that I know I have outgrown for sure and will be leaving.
I am part of a high-level group that meets in person twice a year and this group is really pushing me to new levels
Thanks for getting us thinking! It’s good to re-assess
Trudy
Sue Painter says
Hi Trudy,
I agree it’s good to assess – and I had not thought about FB forum groups but the same thing could definitely apply.
Sue