A Mastermind Group: Everything You Need To Know

What is a mastermind group? How can I join a mastermind group? What are the benefits of joining a mastermind group? Can I start my own mastermind group? If you have been looking for answers to these questions, you have come to the right place.

My name is Sean Galla. I am a men’s support group facilitator with more than 10 years’ experience. Part of my facilitating journey has been overseeing Mastermind Groups. This has given me the privilege of witnessing how beneficial being part of a mastermind group can be. If you are thinking about joining or starting one, this article has all the information you need to get a clear understanding of how mastermind groups work.

In this article, you will learn everything you want to know about Mastermind Groups.

Written by

Sean Galla

An experienced facilitator, community builder and Peer Support Specialist, Sean has been running men's groups for 10+ years. Read Sean's Full Author Bio.

What is a mastermind group?

If you talk to successful people about how they reached their height of success, they will tell you that they had a team of supporters and mentors who helped them in their journey.

From billionaires like Andrew Carnegie to Thomas Edison, and Henry Ford to Harvey Firestone, all these people had one thing in common, they belonged to mastermind groups. All of them understood an important concept: that surrounding themselves with a group of people who had attained the heights of success they aspired for was an important part of self improvement for men

A mastermind group can be defined as a group of peers who meet regularly to brainstorm, advice and support. While it is almost similar to mentoring, mastermind groups have some differences. Most mastermind groups comprise of members who give and receive advice from one another. Mastermind groups are also about brainstorming, addressing personal issues that hinder success or advancement, and they can be educational presentations.

According to Wikipedia, the idea of forming a mastermind group was made popular by Napoleon Hill, author, Think and Grow Rich, and The Law of Success. According to him, a mastermind groups are“A friendly alliance with one or more persons who will encourage one to follow through with both plan and purpose.”

While Napoleon’s definition is right, mastermind groups can also be defined as a small groups of men who seek accelerated growth in different capacities. Because of this need for growth, the group members commit to meeting and regularly networking, in person or online.

Mastermind group meetings aim to discuss careers, business goals and build lasting networks to help the members reach the set goals. they are ideal for everyone, including CEOs and leaders looking for a place to get advice from their peers. This can only be done in a network of like-minded people who keep each other accountable.

So if you’re looking for information about How To Start A Mastermind Group, then join mensgroup.com today!

a-mastermind-group

Types of mastermind groups

While most mastermind groups are built by people looking to build their business network, business mastermind groups are not the only types of mastermind groups. As a matter of fact, there are more than 35 types of mastermind groups for different purposes that are accessible to anyone looking for a mastermind group near me.

  • Some of the most common types include:
  • CEOs and executive-level managers mastermind groups
  • musicians and artists mastermind groups
  • authors and writers mastermind groups
  • work-at-home parents mastermind groups
  • recently divorced mastermind groups
  • empty nesters mastermind groups
  • career advancement mastermind groups
  • fitness and weight loss mastermind groups

Online vs. in-person Mastermind Group

All mastermind groups fall into one of these two categories. While in-person meetings work, you can further expand your network by joining an online-based mastermind group like MensGroup. 

Whether you live in New York or rural Wisconsin, online-based mastermind groups can connect you to people from different parts of the world, especially during a pandemic. if you are a business owner, joining an online mastermind group may be your best business move yet. This expands your networks and improves your chances of getting better advice, support, and guidance. Online mastermind groups ensure your connections are not limited to only the people in your locality.

Online Mastermind Groups are social group therapy programs that offer flexibility, which increases the commitment of the members. It eliminates the need to find a physical location for meetings as members can meet online through social media forums and channels like Facebook group, zoom, google hangouts, Slack, LinkedIn and skype.

With online-based Mastermind Group:

  •  Members will always be on time for the meetings
  • You can join from wherever, even while on the road
  • You eliminate the need to drive down to the venue, which saves time
  • The sessions can be recorded for future reference.

Why join a mastermind group

There are numerous benefits you can enjoy when you join a mastermind group.

Mastermind groups are boards of advisors.

Whenever you go through a problem in your business, career, personal life, or entrepreneurship journey, one of the things that can be helpful is being part of a tight mastermind group. This group gives you access to people with the experience and goodwill needed to offer trusted guidance. Mastermind groups comprise of trusted boards of advisors who want to ensure you succeed in everything you do.

Mastermind groups offer wisdom.

A mastermind group comprises like-minded people going through the same issues and some who have overcome the hurdles you are experiencing. This makes them experienced and more understanding of your needs. The advice you get from group members can be relied on and used to achieve personal growth.

A mastermind group fosters accountability

Rarely will one succeed when they do not have anyone to be accountable to. A mastermind group acts as an accountability group where members report their progress. This motivates you to get things done to have something to report to the group when in the hot seat. Being part of a mastermind group can be the best way to get things done, especially for procrastinators.

You experience exponential growth.

In a mastermind group, you tap into different talents and networks, get advice from different people, and are held accountable. This is an easier way to experience faster growth since you access infinite wisdom from experienced individuals. This can go a long way in helping you achieve your goal faster.

It offers opportunities for collaboration

Being part of a mastermind group gives you access to people with different skills and career backgrounds, making it the perfect place to find people you can trust to collaborate in your project. You can also be part of another member’s project, making it easier to sell your skills and network.

mastermind group

with all these benefits, any man looking to get ahead in life cannot afford to overlook the power of a mastermind group.

How a Mastermind Group works

The facilitator

A mastermind group is started and run by facilitators who help structure the group and ensure it meets its purpose. The facilitator ensures the group has the necessary information and resources to start meaningful conversations and discussions to help the members achieve success. This makes the facilitator a critical component in the success of any mastermind group.

The process

A mastermind group process involves creating goals and designing plans to achieve the goal. The groups help members with creative ideas about business, entrepreneurship, and effective decision-making skills.

As the members implement their plans, they are required to share their success stories, setbacks, and issues with the group. The members celebrate each other’s success and offer help to solve the issues experienced in their individual journeys.

Each group meeting is guided by an agenda to ensure the conversations remain on course. The facilitator works to ensure the discussions are balanced and helpful without deviating from the group’s purpose.

Confidentiality

For mastermind groups to work, they require confidentiality, the members’ willingness to give and receive advice and ideas, mutually beneficial support, honesty, compassion, and respect. With the right group, the members act as a catalyst for growth. Mastermind groups are built on this basis.

Joining a mastermind group

Different mastermind groups come with different requirements and qualification criteria. It is possible to start your own mastermind group to attract people who you feel relate to the type of support you need. Some organizations like the Inklings mastermind group and podcast may require members to register, while some interview members before admission.   

To increase your chances of being accepted into mastermind groups, you must have the courage to ask for help, be willing to accept help and constructive criticism, and have the discipline to follow group guidelines and expectations.

Other important factors include your career background, leadership level, and industry.

Starting your own mastermind group

Sometimes, you may find that none of the mastermind groups online offer what you are looking for or are too far away from your locality. If you are finding it hard to find a mastermind group where you fit it, it may be ideal to consider starting your own group.

Starting and running a mastermind group is relatively easy. To get started:

Pick a topic

This defines the nature of your group. The topic refers to the group’s specialization and the kind of people you want to attract. Since you have an idea of why you were starting the mastermind group, this should be easy to decide.

Choose your groups members

Mastermind groups are only as good as the members in them. Every member in the group should be willing and able to offer sound advice, want the best for other members, and be open to receiving advice. The best members of the group should share the same drive and commitment to success. The best groups are made of people with diverse skillsets and problem solvers. Consider limiting the number of members of your group to less than 10.

Agree on ground rules

Together with the members of your newly formed mastermind group, you need to develop a set of rules that benefit all members. You can create rules for membership, accountability, sharing, and support.

 

mastermind group

This article highlights more essential rules you can follow to help you start a group that will bring you results.

Running a mastermind group

Meet regularly

A mastermind group needs to meet regularly at a scheduled time to ensure members do not miss. Generally, most mastermind groups meet once or twice a week, depending on the agenda of the group.

Ensure every member gets quality time

To ensure every member is treated fairly and equally, you should agree on sharing timelines. Every member should be given the same amount of time to share their progress, ideas, or questions with the group.

Hold each other accountable

The whole idea for having a mastermind group is to offer support and guidance for success. It is important to hold each other accountable and demand progress reports from members. This helps to keep each member on toes and prevent procrastination.

List of the best Mastermind Groups

L3 Leadership

https://l3leadership.org/masterminds5/

L3 leadership works to build a community of leaders and encourages them to grow to their full potential. L3 groups encouraged the members to follow their dreams as they learn how to become better leaders in their family, community, city, and country. In L3 mastermind groups, members are coached, encouraged, and held accountable to grow and meet their goals.

Ignite leadership

https://www.igniteleaders.com/mastermind-programs/

This mastermind organization offers project execution services that ensure your projects are done right the first time. This works to ensure you attain your professional goals as part of your business improvement strategy. They offer a group of professional consultants who work to remove aby roadblocks preventing your business from growing, thus facilitating the success of any business.

MensGroup mastermind group

https://mensgroup.com/

Even with gender equality, it is still challenging for men to find support groups specifically tailored to men. MensGroup is an online-based mastermind group for men by men.

When you join MensGroup, you will get a network of fellow men ready and willing to offer advice, support, and guidance to ensure you reach your life goals.

As one of the most active online men’s groups, MensGroup is a platinum group for masterminds that works to ensure it equips its members with life skills and lessons that can positively influence personal, business, and professional growth. In this online-mediated platform for business leaders and business owners, you will meet men who have previously walked in your shoes and have managed to experience personal development and find their definite purpose through mentorship from a mastermind group. If you are a man looking to get to the next level of your success, MensGroup is the right choice for you.

mastermind group

Conclusion

The success of all mastermind groups lies in the willingness of the members to support and help each other through collective experiences. Influential group leaders guide members as a way of assisting them to overcome their hurdles and achieve success. Being part of the right mastermind group like MensGroup gives you a rare opportunity to network and enjoy personalized help from the industry’s best players even as you make new meaningful, and lasting friendships.

*Sources:
1. Mastermind group
2. What Really Are Mastermind Groups and Advisory Boards?
3. Why Your Most Important Business Move Might Be Joining A Mastermind
4. The Power of Mastermind Groups and how You can benefit from them
5. 5 Essential Rules for Building a Mastermind Group That Gets Results
6. Benefits of Joining a Mastermind Group
7. Mastermind Groups: Setting Rules and Establishing Guidelines
8. Masterminds – How To Join And What To Expect

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