Why It’s Important For Entrepreneurs To Join A Mastermind Group

Hey, teacherpreneurs! Want to know how to increase your online business profits?

Want to know how to keep the readership blossoming on your already blooming blog?

Want to know how to get better at what you do best?

Did you know that all of these answers can be found in a mastermind group?

You don’t have to download any products right away.

You don’t have to measure any new metrics just yet.

You don’t even have to immediately add anything new to your website!

These things may all follow a good mastermind brainstorm. But, first…

Get together with a group of like-minded individuals who are successful at what they do.

What happens when all of these individuals come together? The power of a mastermind group unfolds!

 

Want to learn how to automate, delegate, be more productive, enjoy life and boost your profit? Check out our high-level mastermind for educators.

 

What’s a Mastermind Group?

mastermind group

Plainly put, a mastermind group is a meeting of a group of people where like-minded individuals collaborate and share ideas together, providing constructive criticism and seeking to improve one another.

Ideas are bounced back and forward, thoughts are shared, and brainstorms come alive like hurricanes in the tropics.

Throughout history, several famous mastermind groups have cropped up, driving creativity and production, and making a dent in the pages of their respective industry’s history book.

One example is the famous “Nine Old Men,” responsible for the creation of many Disney movies between the 1930’s and the 1970’s.

There are many other examples, some which date back even earlier than the explosive Disney cartoon creators. Napoleon Hill is another famous figure who not only vouched for mastermind alliances but had many of his own.

Mastermind groups don’t have to be well known, and they certainly don’t have to become famous; it’s all about what you do with them, and if you utilize the tactics you learn from the group.

Now, the translation from mastermind group to business success isn’t always tangible or obvious. So, what’s in it for you?

 

Why Should You Consider a Mastermind Group?

Let’s take a look at Rick, a successful teacherpreneur and the mind behind an up-and-coming online coaching business.

Rick’s business took off a little over a year ago.

He’s sailing smoothly but feels that he and the business can do more.

How can Rick expand or rake in more business?

He could dive into more online marketing, shelling out money a bit everywhere trying to figure out what works.

He could then see about expanding his team since he’s expecting an increase in business. This may be tricky seeing as, up until now, most of his business has been carried out remotely, not to mention the added weight to the cost of his operations.

Or, Rick can skip the trial and error and find a Mastermind group to join.

 

Related post: What We’ve Learned from 15 Teacherpreneur Case Studies

 

Why Mastermind Groups Are Important

why mastermind groups are important

If you’re like Rick and you don’t necessarily have the resources or background to expand your business efficiently and profitably right now, then you might want to seek out the advice of entrepreneurs that have come before you.

The beauty of the online business world today is the diminished emphasis on the “competitive edge.” Nowadays, people are more likely to share their business ideas with other entrepreneurs rather than keep them to themselves or steal them away from competitors.

Today, we recognize that teamwork generates increased productivity, ideas, and creative thinking.

No one does anything by themselves! And, if they do, chances are they aren’t as successful as they’d like to be, if not at all. We all need help.

Finding and joining a mastermind group provides you with an opportunity for (often) unexpected personal benefits.

Let’s look at Rick again.

Say he found a mastermind group and actively joined and participated in the group.

Rick might learn which tricks he needs to implement in order to improve his blogging.

A fellow member might advise him on how to quickly and efficiently create a profitable e-book.

He might even find a fellow teacherpreneur with the same niche as he and borrow a few tips or tricks about his own trade.

He’ll likely run into other teacherpreneurs, who, like himself, are looking for opportunities for their own business to grow.

There are a ton of benefits to joining a mastermind group, like self-improvement, and enhanced personal creativity.

What if, however, you can’t find the mastermind group that is just right for you?

You should consider starting your own!

Let’s take a look at how to get one started.

 

Creating Your Own Mastermind Group

Here’s a quick list of items you can put to use if you’re interested in starting your own mastermind group.

  • Know how you want to meet  

It’s important to both you and prospective mastermind group members to know what platform you want to meet on.

Do you want to meet in person and face-to-face with group members?

Do you want to host a group chat on Facebook instead?

Or, would you rather host a multi-channel Skype session?

There are plenty of options out there. Knowing which one you want to use is a fundamental first step in creating a mastermind group of your own.

 

  • Decide the group size

This is an important next step to consider.

While a large group may present more creative opportunity and like-minded thinkers to the group, they can often be tough to organize and manage.

Opt for a smaller group (5-8 people) at first, and then go big.

 

  • Have an applicant screening process

It’s important to establish a baseline for applicants who desire to be a member of your newfound mastermind group.

Set up a list of guidelines for the applicant to consider upon their interest in your mastermind group.

 

  • Decide whether or not to charge for your group

This is an important step to consider too.

Oftentimes, people are more committed if there’s money on the line. Don’t discount this!                             

People might see your mastermind group as more valuable if they’re investing into it.

 

  • Train yourself, if you aren’t confident in your capabilities.

It’s important, as a founder of a mastermind group, to facilitate, lead, and spur creative discussion.

If you’re out of options and want to give your business a lift, but don’t have any mastermind groups to turn to, starting one yourself might be your best bet.

It’s definitely not easy to start a mastermind group. But, planning can go a long way; once you’ve started one, you’re in control of it.

 

Final Takeaway

join a mastermind group

Hopefully, you’ve been able to take away the What? Why? and How? of a mastermind group.

Combining the talent, knowledge, and creativity of like-minded individuals in similar industries goes a long way in innovating.

Not only can these settings provide you with the potential to grow your business, but the newfound knowledge, skills, and ideas might help you create something you’ve never even thought of before!

Joining a mastermind group isn’t simply an advantage anymore. You’ll find that most successful entrepreneurs rely heavily on their mastermind groups as part of their reason for success.

Don’t get discouraged if you feel like you can’t find one where you fit in. It simply means that you need to create your own.

The mastermind group is a big step toward your success. Don’t be afraid to leap!

 

Want to learn how to automate, delegate, be more productive, enjoy life and boost your profit? Check out our high-level mastermind for educators.