Mastermind Group – 5 to 6 people who want to develop excellent long-term relationships
- Primary objective: Is establishing support for each other emotionally, personally and professionally. It also provides a unique forum for sharing ideas and information, as well as discussing meaningful topics and everyday challenges. If you select the right people, this wonderful support system can be enjoyed for many years.
- Qualification for team members –
- Likely to create synergy – ambitious, open minded, goal oriented individuals who have a positive outlook and bring a healthy, positive energy to each discussion.
- People who have real experience and success in business, or who have overcome challenging personal situations.
- People of different industries or not
- A bend of different experiences and backgrounds will add depth and variety to the meetings
- Consider mixed group
- Age group preference NB Broader age group with men and women included adds a different perspective and wider range of opinion.
Note – Mastermind group is designed as a long term support system – It is not for people who are casual. You know the type. They show up when they feel like it or there’s nothing else on their schedule that day.
Before formation – establish termination policy.
Democtratic vote within 90 days of opening meeting is an easy way to avoid early disruption. This can also be implemented at any future date.
The level of commitment will determine how successful your mastermind group becomes.
- Regular attendance
- A willingness to participate each time you meet, and an agreement to keep confidential of anything that is shared in the group.
- This code of confidentiality is extremely important
Note: Women are generally much more open to sharing their true thoughts and feelings.
The real benefits occur only when there is high level of trust within the entire group.
The environment you create should be a safe place, where absolutely anything can be shared with no concern about indiscretion.
Decide: when, where, how often and for how long you want to meet.
- Two to three hours every month is a good rule of thumb, or you can meet more frequently if you want.
- Some people prefer an early-morning breakfast in a relaxing, well appointed location.
- Others would rather meet in the evening when the business day is over.
- Choose location where you will not be interrupted by phones, faxes, or other people. Make it a rule to turn off cellur phones when you are together. Don’t treat your mastermind group like a typical office meeting. This is special time with special people, so maximize the opportunity to focus on the issues at hand
- What will you talk about?
What you don’t want is a couple of hours chit-chatting about local news and weather. High energy achievers won’t waste their time in this fashion.
Suggestions – Elect a chairperson whose main role is to keep the conversation flowing, and to allow everyone equal time.
Start each meeting with a brief comment from everyone about the best thing that happened since last meeting. This will get things off to a positive start.
Then ask two questions:-
- What is happening in your business life or job?
- What’s happening in your personal life (Go around the table one person at a time). This process alone might take up the entire meeting. And that is ok – Learning from each other opportunity.
- What is your greatest challenge at this time? Also discuss and support each other’s individual goals. Inspire everyone to achieve what they want. Encourage them to think big and introduce them to people who can accelerate their progress.
Sometimes you may want to have a special topic on the agenda. It’s also a good idea to reserve time for someone who has a particular need – a financial crisis or health problem that needs to be addressed. These situations are what really bonds your mastermind group. Take opportunity to help in whatever way you can to resolve the issue. If an urgent situation arises, you can always call a special meeting to handle quickly.
- Current business challenges
- How to create high-impact presentations.
- Where to find venture capital
- Howto fire a key employee
- Marriage difficulties
- Problems of teenage children
- Health issues
- Financial crises
- Major career changes
Several meetings have been emotional with tears shed openly. Now enjoying a wonderful bond and richness of knowing that when anyone needs help four people will be ready and willing to provide immediate assistance.
That is a very powerful position to be in. It was definitely worth all the time and effort.
Thanks and regards,
Seth Simon Mwakitalu
Entrepreneurship Consultant and Lifestyle Trainer
Tel: +255 754 441325 or +255 714 051174