Mastermind groups are a relatively new concept to individuals and businesses despite being conceptualized around 75 years ago. Mastermind groups were created to assist with navigating through personal and business challenges by utilizing the collective intelligence and experience of others in the group.
How does it Work?
When joining a mastermind group, the process is simple: a group of intelligent individuals meet monthly, weekly or daily (if necessary) to tackle a problem together. The group provides advice to one another, shares connections and conducts business where relevant. The idea is peer-to-peer mentoring resulting in a significant change in the individual and their business.
6 Reasons to Join
As this concept emerges as an attractive option for conquering challenges, there are six additional reasons for joining a mastermind group including:
- Being part of an exclusive community
- Collaboration among experts
- Expanding your professional network
- Free advice from advisors
- Learning new skills
Being Part of an Exclusive Community
From the beginning, you will be a member of an exclusive community. Typically, other members of the group invite your or you must go through an application process. All teammates need each other so the extent of knowledge and quality of experience is critical to all who are involved.
Collaboration among Experts
Within the group, you may find another participant who is a perfect fit to work on a specific project with you. At the same time, you may also find another to work with to help others in the group. All members work together in a collective fashion to achieve more.
When joining a mastermind group, you will find methods of assisting one another through cross promotion. This includes finding ways to help one another by promoting the business to your personal and professional networks.
Expanding your Professional Network
When you join a mastermind group, your network of professionals will quickly expand. If you are already in a business, you are aware of how critical it is to grow your network. In the group, you immediately add many professionals to you network and also gain part of the networks of those in the group.
Free Advice from Advisors
Once involved you no longer feel alone while running or participating in a business. The other members of the group become your free, personal advisors to provide advice and solutions. Similarly, you become an advisor to them to help sharpen your skills.
Learning New Skills
Each participant in the mastermind group brings their own skills, experiences and personal as well as business connections to the table. Through interaction and the sharing of challenges, it is almost certain that one participant will have some type of connection or tactic to assist the group. On the other hand, the skills you bring to the table can help others find a solution.