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Mastermind: What is it?
A mastermind is a community or group of people who…
- Support each other
- Keep each other accountable
- Share honest feedback and conversation
- Have common values and goals to grow and improve in a certain area of life
The difference between coaching & a mastermind…
When you start a mastermind, you are the facilitator. It’s a little different than coaching or a group coaching program because everyone in the group contributes their advice and expertise (not just one coach leading the group & coaching the members).
When coaching, you are expected to provide more of the content & teachings. However, in a Mastermind, you might bring in guest speakers, facilitate group conversations, and provide feedback… but you’re not necessarily “coaching.”
Why would someone join a mastermind?
One would join a mastermind for more CLARITY. When you are able to talk about a problem with a group of colleagues and peers, they are able to add valuable insight that you probably didn’t see.
Another great reason to join a mastermind is for networking opportunities.
What would a mastermind meeting entail?
Every mastermind group is different.
A group could meet via…
- In-person events
- Online conference calls or video meetings
- A combination of both
- Extravagant traveling events
The structure of the mastermind meetings can vary as well. Some masterminds offer breakout groups to chat with a small group of people about a problem you want to solve or goal you want to achieve. Other masterminds have an educational topic or theme for a particular meeting.
Brad structures his meetings in this order…
- Open with gratitude (everyone shares a win or something they are grateful for to set the tone for the meeting)
- Share one problem you’re looking to solve or goal you want to achieve & discuss
- Offer potential next steps or suggestions
- Occasional speakers teach mini-lessons
- Occasional bonus workshops and fun group activities
Do’s of masterminds
- Select members carefully… You want to have people who will complement each other’s skills and areas of expertise
- Be resourceful in finding guest experts and solving your members’ problems
- Determine the key goals and benefits members can expect for this particular mastermind
- If you want to be IN a mastermind, ask if you can attend one event or one meeting you pay for before you invest in a whole year or several months
Don’ts of masterminds
- Be in a mastermind with others who do exactly what you do for a career… You want fresh perspectives and diversification
- Accept members into your mastermind who are only in it for themselves and not willing to support others in the group
- Create the whole mastermind game plan, trips, etc. before you have done market research and have people who pre-register
Lessons from being in a mastermind…
Here are some of the lessons Brad has learned from being in masterminds for decades…
- Be willing to fail on your way to success.
- See failure as feedback and practice.
- You can work with failure and fix it. You can’t fix it if you never tried.
- One conversation or deal can change everything.
- Everyone is SMARTER TOGETHER.
Lessons from being in a mastermind…
About Brad Hart
Brad helps entrepreneurs to increase their income, impact and create community through masterminds. Brad’s purpose is to help those who are on this journey to build a tribe, give abundantly where they are strong, attract value where they are weak, as well as connect to people who can help them achieve anything.
He hosts his podcast 8 Minutes for Masterminds. You can also visit him on Facebook, Instagram, Twitter, LinkedIn.
