Ever felt stuck in your entrepreneurial journey? Struggling to make critical decisions? Feeling isolated in your pursuit of success?

Welcome to the club!

Every entrepreneur has been there.

But what if we told you there’s a secret weapon that could eliminate these issues and helps you get fresh perspectives and ideas?

Mastermind Groups. This is the solution for all your problems.

You din’t know the important of this, unless you’re part of one.

In this guide, we’re going to dive into the world of Mastermind Groups. What they are, how they work, why you should join one, and even how to start your own.

Let’s go!

The basics

What is a mastermind group?

What is a mastermind group

Many people mistake mastermind groups for classes, coaching, or mentoring groups.

However, they are distinctly different.

A mastermind group is essentially a peer-to-peer mentoring concept where individuals gather to share ideas and business practices and support each other in achieving personal and professional growth.

A key feature of a successful mastermind group is its size. It should be small and consist of individuals who share the same guiding principles, resonate with each other, and can provide a non-judgmental and safe space for communication.

This environment fosters open and honest discussion, allowing members to challenge and support each other effectively.

Accountability is another critical aspect. Like in a board of directors or advisory boards, members hold each other accountable, helping to brainstorm solutions and make decisions collaboratively.

You are average of the five people

This dynamic is similar to what motivational speaker Jim Rohn emphasized in his famous quote, “You are the average of the five people you spend the most time with.

Examples of mastermind groups

Historically, mastermind groups have played a pivotal role in the success of many individuals and businesses.

For instance, J.R.R. Tolkien and C.S. Lewis were part of a group called the Inklings.

In the current entrepreneurial landscape, there are various examples of successful mastermind groups. These include:

  • Russell Brunson’s Inner Circle: Brunson, the founder of ClickFunnels, runs this mastermind group, which focuses on growing businesses through effective sales funnel strategies.
  • Dean Graziosi and Matt Larson’s Organized Brilliance: This group caters specifically to those in the real estate business.
  • Frank Kern’s Inner Circle: Kern, a highly influential online marketer, offers coaching to entrepreneurs around the world.
  • Joe Polish’s Genius Network: This network connects industry titans to create transformative results in personal and business relationships.
  • Brendon Burchard’s Mastermind: Named by Forbes as the world’s leading high-performance coach, Burchard’s group focuses on success-chasing individuals.

For more examples and details on various mastermind groups, Leaders.com, EntrepreneursClass.com, and GrowPredictably.com provide comprehensive insights.

The origin of the mastermind concept

Origing of mastermind concept

The term “mastermind” was popularized by Napoleon Hill in his 1925 book “The Law of Success” and later in “Think and Grow Rich.”

Principles of success
Napolean Hill’s principles of success

Hill defined a mastermind group as “the coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.

He believed that when minds come together in a mastermind alliance, they create a “third mind,” a synergy that is more powerful than the sum of the individual minds.

Andrew Carnegie, a prominent industrialist, is often cited by Hill as a key figure who attributed much of his success to his involvement in mastermind groups.

Why join a mastermind group?

Why join a mastermind group

A mastermind group can be particularly beneficial for individuals looking to overcome personal blind spots and ego barriers.

Here are some benefits:

  • Collective intelligence: These groups act like hive minds, offering collective intelligence to help members make better decisions and receive feedback on their projects.
  • Support network: For those feeling isolated, seeking support, or needing fresh perspectives, a mastermind group can provide invaluable assistance.
  • Peer learning: It encourages peer-to-peer interaction and shared learning experiences, which can enhance the overall impact of the coaching process.

In summary, mastermind groups offer a unique blend of support, accountability, and collective intelligence, making them powerful tools for personal and professional growth.

By engaging with a group of like-minded individuals, members can gain new insights, challenge their thinking, and accelerate their progress toward their goals.

Moreover, for coaches, incorporating mastermind groups into their offerings can add substantial value for their students.

How to find mastermind groups to join?

It is crucial to find the right mastermind group for your personal and professional development.

Before diving into how to find these groups, it’s essential to understand your objectives and what you hope to achieve by joining a mastermind group.

Your goals might include combating isolation, seeking new perspectives, desiring accountability, or wanting to be part of a community.

Each of these reasons is valid and points to the multifaceted benefits of being part of a mastermind group.

1. Utilizing your network

An organic way to find mastermind groups is to leverage your existing network.

This method involves actively engaging in social media platforms, sharing ideas that reflect your values, and interacting with others who resonate with your principles.

By doing so, you naturally attract people who share similar interests and values.

Twitter blogging community
Example of Twitter blogging community

Engaging in niche communities on platforms like Twitter can also be beneficial. When you find like-minded individuals, explore where they gather and converse.

Over time, nurturing these relationships can lead to discovering or forming mastermind groups that align with your goals.

2. Searching online

The internet is an excellent resource for finding mastermind groups.

Platforms like LinkedIn, X, Facebook, and Meetup are great starting points.

Mastermind groups in X

On these platforms, you can search for groups that focus on your specific areas of interest and join those that seem like a good fit.

Attending related events, conferences, or workshops can also be fruitful. Networking at these events may introduce you to potential mastermind groups or individuals interested in forming one.

Additionally, there are specific tools and applications designed to help you find mastermind groups.

ACHIEVEup homepage

For example, ACHIEVEup is a mobile application that matches you with mastermind groups based on your goals and interests. This tool can simplify the process by connecting you with like-minded individuals and relevant groups.

3. Getting a coach

Connect with a coach

Another approach is to connect with a coach or course creator within your niche. Find someone whose values and mission align with yours and engage with their community.

Many coaches offer access to mastermind groups as part of their programs, providing a structured path to join a group that aligns with your objectives.

For instance, Tracy Harris’ Inner Circle Mastermind targets digital CEOs and has achieved significant growth for its members, including six-figure quarters and substantial revenue increases.

👉 Remember, while upselling to access these groups is common, the focus should be on the value these groups bring to your personal and professional growth.

How a mastermind call looks like?

How a mastermind call looks like

Creating an effective mastermind call involves a structured approach to ensure each member benefits from the session.

The format of a mastermind call typically includes several key components, each designed to maximize the group’s collective expertise and support.

Here’s an example structure:

Mastermind call structure infographic
  1. 🎙️ Introduction and check-in: This segment sets the tone for the meeting. Members share their current emotional state and something they are grateful for, fostering a more personal and understanding environment.
  2. 📝 Review of meeting ground rules and previous minutes: This part involves going over the basic rules of the meeting and reviewing the minutes from the last meeting.
  3. 🎉 Success stories and group update: Members share their successes or progress since the last meeting, allowing for celebration and keeping everyone updated.
  4. 💡 Presentation of the issue of the day and roundtable discussion: A member presents a struggle or challenge they’re facing, followed by a discussion where each member offers insights and help.
  5. 🔥 Hot seat session: One member takes the ‘hot seat’ for an in-depth discussion about their specific challenges or questions.
  6. 📌 Commitments and support needed: The member in the hot seat commits to actions based on the discussion. Members also express any support they need from the group.
  7. 🧠 Skills sharing: Occasionally, a member shares a specific skill or area of knowledge with the group.
  8. 📆 Strategic planning and setting action items: The group discusses upcoming actions and plans for the next meeting. Members set their goals or actions for accountability.
  9. 🗣️ Open forum and wrap up: This optional part allows for additional discussion on various topics. The meeting concludes with a wrap-up.
  10. 🤝 Social/Networking time: This is an informal session for members to build deeper relationships and follow up on conversations.

This structure may feel comprehensive.

👉 Let me simplify it: In most mastermind groups, the process includes check-in, accountability, discussion, and next action items. These four components are the most important and should be organized in the same order.

How to start your own mastermind group?

How to start mastermind group

Starting a mastermind group as a new coach or course creator requires a strategic approach.

It’s not just about gathering a group of individuals for discussions; it involves creating a structured environment that fosters growth and delivers tangible results.

Here’s a breakdown of how to effectively start a mastermind group:

1. Building your audience

build your audience

The first step is audience building. This involves attracting and engaging people who are interested in your coaching or courses.

👉 Remember, a strong and relevant audience is the foundation of a successful mastermind group. This audience-building phase is crucial for identifying individuals who resonate with your values and teachings.

You can build an audience by:

  • Creating valuable content (Blog posts, podcasts, videos)
  • Engaging on social media (Facebook, LinkedIn, Instagram, and Twitter)
  • Offering webinars and workshops
  • Networking (Industry conferences, meetups, and seminars)
  • Partnering with influencers
  • Personal branding (Speaking engagements, writing books, guest blogging)

For instance, Lewis Howes, a renowned author and speaker, has successfully built a robust audience through his podcast, “The School of Greatness.”

He shares valuable insights from successful individuals across various sectors, thereby attracting and engaging people who align with his teachings.

Similarly, it’s essential to maintain consistency in these efforts, engage regularly with your audience, and be responsive to their feedback to cultivate a loyal following.

2. Gamifying the coaching experience

Introducing gamification into your coaching experience can significantly enhance engagement and commitment.

By structuring your program into distinct levels, each with its rewards and challenges, you create a dynamic learning environment that encourages progress and fosters a sense of achievement.

Here’s how you can structure it:

  • Level 1 – Tripwire: This initial stage is designed to attract individuals to your coaching or courses. It typically involves offering something of value at a low cost or even for free. The purpose is to ‘trip‘ them into your ecosystem.
  • Level 2 – Core product: Here you introduce your main coaching program or course. It should be more comprehensive and in-depth compared to the tripwire level. The core product is where you start to see which members are genuinely committed to the process.
  • Level 3 – Profit maximizer: This level is for those who have shown high commitment and are looking for more advanced coaching or consulting. This could be a high-level one-to-one consulting product or an advanced course. That’s because participants are highly committed at this level and resonate strongly with your values.

Of course, you need to use different terms for each level to incorporate the essence of gamification for your target audience.

You will be working with level-3 individuals one-on-one who are highly committed, share the same values as you do, and have a desire to go further.

3. Creating mastermind groups

creating mastermind groups

Once you have identified committed individuals through the above gamification process, you can start forming mastermind groups.

These groups should be based on shared values, guiding principles, and similar stages in their journey.

The objective is to ensure that each group is harmonious and effective in helping its members tackle bottlenecks in their journey to success.

4. Set guiding principles

Set guiding principles

Establishing guiding principles is crucial for the success of mastermind groups, particularly in ensuring their effectiveness even in the coach’s absence.

These principles act as a compass, guiding the group’s interactions, decision-making, and overall dynamics.

Here are some examples of guiding principle statements:

  1. Mutual respect: Each member’s views and opinions are valued equally. This creates an environment where everyone feels safe to share openly.
  2. Confidentiality: What is discussed in the group stays in the group. This principle is vital for building trust and ensuring a safe sharing space.
  3. Commitment to growth: Members commit to personal and professional growth, and actively support each other in this journey.
  4. Accountability: Each member holds themselves and others accountable for commitments made within the group.
  5. Open-mindedness: Encouraging an environment of open-mindedness where members are open to new ideas and different perspectives.
  6. Honest and constructive feedback: Feedback should be honest yet constructive, aimed at helping each member improve.

These guiding principles are the framework within which the mastermind group operates, ensuring that the group remains focused, productive, and supportive.

By adhering to these principles, the group can effectively self-regulate and maintain its course toward achieving collective and individual goals, even in leaders’ absence.

5. Focus on results

The primary goal of these mastermind groups should be to provide results/transformations to all participants.

This involves helping them overcome challenges and achieve their goals.

For example, Dan Sullivan’s 10X Ambition Program emphasizes ambitious goal-setting and strategic planning, offering direct mentorship to drive startups towards exponential growth.

Through intensive workshops, it focuses on creating self-multiplying companies, ensuring tangible, significant results.

👉 It’s important to remember that a mastermind group is more than just regular meetings; it’s a structured support system designed to facilitate growth and success.

Wrapping up

In conclusion, mastermind groups offer a powerful platform for personal and professional growth.

By joining a mastermind group, you gain access to a supportive network, diverse perspectives, and valuable accountability.

These groups foster open and honest discussions, allowing you to challenge your thinking, gain new insights, and accelerate your progress toward your goals.

Whether you choose to leverage your existing network, search online platforms, or connect with a coach, finding the right mastermind group is crucial.

Remember to align your goals, do your research, and set clear expectations before joining a group.

So, take the leap and unlock the benefits of being part of a mastermind group. Your journey to success and fulfillment awaits!