5 Reasons Every Entrepreneur Should Join a Mastermind Group

5 Reasons Every Entrepreneur Should Join a Mastermind Group

“Deliberately seek the company of people who influence you to think and act on building the life you desire.” Napoleon Hill

Everyone’s talking about mastermind groups right now; a group of peers who mentor one another, that meet up either virtually, or in person, to invest in one another’s success. The basic idea being that more is achieved when people work together.

Is joining one right for you? Aren’t you busy enough trying to keep your business afloat, create new content, figure out how to stay on brand, AND run a household? Well, heck yeah, you’re busy, no arguing with that! But if you are determined to create the business and lifestyle you’ve always wanted, then you can’t afford NOT to join one!

Top 5 Reasons

The top 5 reasons every entrepreneur should be in a mastermind group are, the personal development opportunities, the community you’ll be a part of, the accountability the other members will hold you to, the feedback you’ll receive from successful individuals, and the resources you’ll learn about.

1. Personal Development

Garbage in, garbage out.

What you fill your everyday life with, is what your ideas are made of, is what your family is made of, is who you are. For most of us, that should be hair raising. Are you taking the time to turn off Netflix and read thought provoking books and articles? Are you listening to successful podcasts and business news instead of cheesy fiction books on audible? (guilty).

We have as many hours in a day, a week, a month, as Oprah, as Beyonce, as Joanna Gaines! It’s all about how we use them.

Of course it’s tempting to veg out when the work day is done and there’s nothing wrong with taking time to zone out and decompress, but you have to make sure this is a limited treat! Being in a mastermind group will push you to feed into yourself. This goes beyond ‘self-care’ and into real education. A group may focus on a development book each month and members are expected to read it to discuss and apply pertinent topics. 

2. Supportive Community

Being an entrepreneur is to be part of an isolated club, as you know, most work alone and from home. It can be hard to find someone to discuss the ins and outs of running a business with but a mastermind group solves that problem. You will suddenly be immersed in the successful and fabulous culture of business ownership.

The other members are there to be your friends, your backboard, your colleagues. They want to see you succeed and are there to offer advice. Many groups meet virtually but have in person meet ups a few times a year. You’ll be amazed at how much more you and your business can achieve with great people in your pocket.

3. Accountability

Do you have a list of action steps you need to take for your next big move? Why haven’t you done them? A mastermind group will keep you accountable for the forward progress of your business, and your life.

The members want you to succeed and to do so, you’ll have to do things that are difficult and maybe are things you just don’t want to do. Thankfully, being part of a group like this will force you to come clean about your progress, or lack thereof.

If you’ve been dragging your feet on taking the next step, a mastermind group can be the kick in the pants you need.

4. Increased Resources

You know about Facebook, you know about Youtube, you know about Google. But you don’t              know what you don’t know. Not only will your group leader introduce you to their favorite    resources, but other members will as well.

Bring together a handful of people and everyone will rave about their favorite website, book or          tool they used to solve their XYZ problem. Being in a group allows you to easily sample multiple resources based on their trusted recommendations. It’s also probable someone in your group          has experienced the same difficulties you have and may be able to direct you to the light at the end of the tunnel. This can save you HOURS of research and headaches.

5. Feedback
You’ve got a great idea! Right?… It can be intimidating to pitch a new idea to friends and family,        especially if you are multi passionate, as most entrepreneurs are. Do you think they will wonder why you can settle on a single idea? Or why you come up with so many ideas but never follow          through? A mastermind group can give you positive feedback on the sustainability of your ideas. (And if necessary, will help you focus in on the creme de la creme ideas.)

Other business owners have been there, they can guide you in the right steps for what will                work best for you and your endeavors. Often, we come up with so many ideas, gaining clarity and focus is nearly impossible to do alone. Thankfully, with a mastermind group, you don’t have to go at it by yourself.

Do your research and reach out to others in your field to discover who has the best possible group for you to join. Many groups cover a wide variety of topics including marriage, finances and so on to create a well rounded person. Other groups may be limited to a single profession, say, occupational therapists! (If you’re ready to level up your occupational therapy business, click here to fill out the Occupational Therapy Answers Mastermind application!)

What a Mastermind Group is NOT:

  • “It’s not a class. While your group can vote to bring in guest speakers and teachers occasionally, the main focus of a mastermind group is the brainstorming and accountability support among the group members.

  • It’s not group coaching. Mastermind groups are about the MEMBERS sharing with each other to get everyone’s feedback, advice and support.

  • It’s not a networking group. While you may share leads and resources with each other, it is not the main focus of the meetings. However, through your connections with other members, you will find plenty of joint venture opportunities, lead sharing, and professional networking.”         -J. Miller, www.linkedin.com


About the author

Jennie Shafer

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