Mastermind: Your Small Business Secret Weapon
Ohmygosh. Guys! I want to share with you the most inexpensive way I've absolutely upped my business game this year: I became a part of a group mastermind! Being a part of a group mastermind has not only improved the quality of my business, but also my life.
The truth is, masterminding is probably something you're already doing organically, but there are definitely major benefits to making it official. Throughout this post you'll see iphone photos of a recent mastermind event I had together with my mastermind buddies. Read to the end to meet them as well as see how it came about that we ended up masterminding at The Thompson Hotel in Miami!
So...what is a mastermind anyways?
Simply put, it's a group of around 2-8 entrepreneurs who come together for a meeting to up their game, get business breakthroughs, and offer support to one another.
How does the actual meeting go?
Each person in the group gets 15-20 minutes focused time on their business. (Be sure to set a timer on your phone to keep it fair for everyone!) During their turn, each business owner shares where they are stuck, what resources or connections they need, or even shares a recent business breakthrough they've had in order to help the group. During each persons time allotment, anyone who has feedback or resources applicable to what was shared is expected to chime in to help brainstorm, or offer resources and perspectives that may be helpful. Once the timer goes off, before moving on to the next person, the group requests that person share a specific, actionable goal so they are sure to commit to their business breakthrough. It truly is a "rising tide lifts all boats" situation.
An unexpected benefit:
Obviously it's amazing to have a chunk of time where brilliant entrepreneurs with experience give you direct feedback on your business, but one of the unexpected benefits of masterminding is all of the amazing resources and tips you'll get from taking notes during other people's time allotments. This will help you solve problems you haven't come across yet, or solve problems you didn't even know you had! :) In order to help you get the most out of your mastermind I've created a Mastermind Notes Free Download (sign up to be a Vault insider to get access to that and more freebies!). In this freebie there's enough space for you to take notes for a group of 2 on this one-page worksheet. So, if you have 6 people (including yourself) you'll want to print 3 of these to be prepared to take good notes and ensure everyone stays actionable.
I hope it will help aid you in having an effective mastermind!
How did you find your mastermind friends?
I kept seeing successful entrepreneurs I admired, like the Marie Forleos and Hilary Rushfords of the world, hanging out with other business ballers in foreign and exotic locations. I was completely jealous.
I knew I needed that in my life. I was a bit stumped on how to find other women who wanted the same thing. So, I did what any resourceful millennial businesslady would do: I put a post on Instagram + sent out an email to the entrepreneurs on my email list as an open call to any business owners inviting them to go on a weekend getaway to mastermind together.
Obviously you don't need to go on a vacation to get started. You can mastermind with local biz friends, or find like-minded friends online to skype with!
Who is in your mastermind group?
I'm so glad you asked! ;) They are seriously amazing and you should definitely check them out. Actually, if you want to hear more about our masterminding experience together they both shared various perspectives on their platforms today too! Emily wrote a blog post about it, and Kate did a group podcast with our small, but mighty mastermind group. You can also find them on Instagram here (Kate) and here (Emily).
Enjoy!! Sarah DeShaw