A mastermind group can change your life.
Seriously. It changed mine.
When I joined my first-ever mastermind group, I was licking my wounds after a shady business partnership that knocked me down.
I needed to get my ass-kicking, deal-making, goal-hitting entrepreneurial mojo back.
And I did, thanks to everything I got from my mastermind posse. I got back on the dang horse and my new company began to thrive.
Joining a mastermind group can be the difference between feeling blah about your business and feeling ready to take on the freaking world.
Between getting by and bringing in your highest annual revenue yet.
Between bowing out of the game and plotting your 10-year goals.
There are a jillion bits of juicy goodness that come with being part of a great mastermind.
The following 10 benefits are the most impactful — for your life and your business.
It’s easy to let structure fall by the wayside when you’re your own boss. Most of us do. And yet so many of us entrepreneurs actually crave it.
Having structure helps keep our eyes on the prize. It keeps us organized, on-track, and moving in the right direction.
A mastermind can help you find that structure again.
Your fellow mastermind members aren’t going to let you get sucked into all the things — they’re going to help you make a plan and stick to it.
Speaking of sticking to it… One of the biggest and best benefits of a mastermind group is accountability.
Forget rationalizing why you avoided that project or why you didn’t book that meeting. Nuh-uh. Your mastermind group isn’t going to let you get away with any BS excuses.
Instead, you can count on your mastermind peers to hold you accountable to the goals you set and plans you make. Having people to report to will help you reach your objectives that much faster.
It’s like having a boss again—except there are many bosses, none are jerks, and all are totally invested in seeing you succeed.
Business owners have a thousand things to do at any given time, ranging from “make very important sales call to very important person” to “finish taxes” to “buy more toilet paper for the employee washroom.”
Who doesn’t get bogged down and off-track at some point?
When you’re having trouble seeing the forest from the trees, your mastermind people will be there to bring things into focus and help you recalibrate.
Support System and Community
Running a business is HARD. The stakes are high. The pressure is all on you. It can be lonely and frustrating and all-consuming.
Your mastermind homies quickly become close friends you can lean on. They actually get what you’re going through since they’ve been there.
These relationships deepen over time and their value compounds as each person is willing to do anything to help the other.
Stuff like sharing insider biz knowledge, publicly supporting each other, making introductions to other people in their network, being a confidante of secrets, and even giving emotional support.
Resources and Contacts
Who you know really does matter. The right contacts can open all kinds of doors for you.
When you join a mastermind group with the right people, your network is immediately expanded. Your rolodex now includes everyone in the group and everyone they know.
Need help in a specific area of your business where you’re not very strong? Looking for an introduction to a certain company?
Ask your mastermind buddies; chances are that they know someone who can help.
Did your heart race just a little bit when you saw the word “competition?”
Don’t panic. There are no rivalries in masterminds. No winners or losers.
A mastermind brings a dash of the good kind of competition. The healthy, friendly kind that motivates you and pushes you.
You’ll be crazy inspired by the other business owners in your group, and that will light a fire.
Blind Spot Identification
Successful mastermind groups have members that have “been there and done that.” They’ll point out your blind spots and keep you from making the same mistakes that they once made.
Strong CEOs and business owners learn from others who are further along the path than they are.
Why learn a lesson the hard way when you can learn it from someone else’s lived experience?
You’ll benefit tremendously from the education, experience, and influence of your mastermind peers. When you’ve got a business challenge, bring it to the group.
They’ll put on their CEO hats and help you come up with smart solutions inspired by what has worked (and what hasn’t) in their own professional lives.
Instead of working on the problem all by your lonesome, you’ll have a whole team of wicked smart leaders working on it with you. And you don’t even have to add them to your payroll. Win!
Cheesy, right? But it’s true! Joining a business mastermind group is good for your business life and your personal life.
Your friends and partner might get bored talking shop with you every day (sound familiar?). Not your mastermind group.
There’s total enjoyment in brainstorming, celebrating, and yes, sometimes commiserating, with cool people that you share common ground with.
Masterminds aren’t like one extended boardroom meeting. They’re social, interesting, and pretty damn fun.
The impact that a mastermind group can have on your business is nothing short of amazing.
With a mastermind group on your side, you can accomplish more in one year than you would in 10 years of relying solely on yourself.
Your group will help you establish the right goals, equip you with the tools to reach them, and hold you accountable to what you set out to do. It’s crazy what a difference that makes.