How do you unlock the door to business success? In my case, I found higher levels of business success only after doing something I typically dread as an introvert, connecting with others in a trusted community. Now that I’ve been a part of business communities for many years, I see how the connections I’ve made in that trusted, sacred group have helped me build my business. Connecting with the right people in a community was key to achieving a higher level of success.
Below, I’ve outlined benefits I’ve seen as a result of being in mastermind groups and communities over the years as I worked on building a larger, more lucrative business.
5 Benefits to Business Owners of Joining a Mastermind Community
1). Feeling Part of a Community, Not an Outlier. As a solo-preneur it’s great to have scheduled times to connect, share ideas and learn from others in and out of your industry. It can be a very lonely world as an entrepreneur, but these communities allow you “engagement time” so you don’t feel like the lone wolf trying to figure out everything on your own.
2). Fresh Ideas to Implement Immediately. You get fresh and innovative ideas from others – whether it’s training from the lead person or a group discussion around strategies they have successfully used. Just like in the book, Think and Grow Rich, some of the world’s most successful individuals would get together to share ideas and help each other. A mastermind community is an invaluable investment because you have a wider pool of people
percolating on a variety of ideas.
3). Learn from People Who are at a Higher Level Than You. Whether you are a newbie or an intermediate consultant or coach, it’s always best to learn from someone at the top of their game. Look for a community where the members in the group or the person who is the lead facilitator are at a higher level than you are. As the saying goes, you make the amount of money of the five people you hang around with most. As a part of a high-level community, you are interacting with thought leaders, the real movers and shakers in the industry, who can share shortcuts, ideas to get you unstuck, and clarity to keep your business moving upward in record time. (We’ll talk more about this below, but that’s why it makes sense that you have to pay an investment fee to join – you’re learning and interacting with some of the top people in your industry.)
4). The More You Learn The Faster You Grow. As the CEO of your business, the more you learn about what you should be doing, the faster you’ll grow. The best mastermind trainers share advanced ideas in their groups, they bring new people along right from the start helping them see what they should be doing and what’s possible for their business. In my mastermind group, I’ve focused our trainings on business building tools like mindset, marketing, business models, working with individual clients or corporate clients, finances, and more.
5). Get Timely Answers to Your Questions in a Big Think Tank. In a true mastermind group, everyone can help provide answers to those seeking answers to their challenging issues. In my private mastermind group, I allow the participants to sign up for a “hot seat” where they share a particular challenge they are facing. It always stimulates a great discussion from the group as they share their ideas, past experiences or just brainstorm as a group in our big think tank.
By now you’re hopefully sold on how a Mastermind Community can help you achieve success. However, not all communities are alike. I’ve experienced great ones and a few not-so-good ones. So here are the type of communities and people you should look for…
3 Keys to a Successful Mastermind Community
1). You Need to Pay to Play. I’ve had several private clients try the FREE mastermind or accountability partner route, only to discover that when groups like this are free, no one has any skin in the game so they can fizzle out quickly. You want to be a group that charges a fee to join. This way you know you are part of a committed group that will show up, become involved, and do the work involved pre, during and post the mastermind meeting.
2). A Facilitator to Manage the Group. You want to learn from a master or someone who is highly successful that will share insights, perspectives, shortcuts and train you on how to exponentially grow your business. The leader needs to facilitate the sessions by organizing some trainings on business acceleration techniques, allow for interactive sharing of ideas, and group discussions.
3). Pull from Other Key Experts. The best communities invite other experts to share with the group. These can be members of the group or an outside guest speaker invited to share their tips and strategies to help others achieve greater levels of success.
I believe that mastermind groups are one of the best investments for business owners who want to grow and learn new innovative ways to scale their business. When you belong to a trusted, sacred community where everyone wants everyone else’s business to grow as well as their own – you couldn’t ask for a better corporate board of directors.
Sarah’s Predictable Results Insights
- Are you currently part of a mastermind community? If so, are the majority of the members and the facilitator at a higher level than you? Do you leave every call with a new strategy or inspiration? Do you have the opportunity to ask questions and brainstorm practical solutions?
- Are you looking to join a mastermind community? If so, what criteria should you look for in determining the best fit? How much of an investment are you willing to make in your future growth?