People who are part of mastermind groups will typically join for different reasons… and I’m no different. I’ve heard of 10-20 different reasons for joining mastermind groups, but these are the top 5 reasons why I joined a mastermind group.
And to be completely honest, joining a mastermind group was the most impactful business decision that I made in 2019.
#5 – A Place to Learn from Other’s Mistakes
Now, I don’t think that most people realize is that in a good mastermind group, you’re learning from other people’s mistakes and what they would do differently.
When you share an idea, there are going to be people who might stop you and say, “You know what? Here’s something that could happen.” Or they might say, “Hey, here’s something that happened to me when I tried that.”
There are a lot of people who have more experience than you do. There are a lot of people who have tried things that you haven’t tried yet. And those people can stop you from making a big (or expensive) mistake.
Or they can at least advise you on what could happen or what to watch out for.
That can save you thousands and thousands of dollars, as well as a lot of heartache and wasted time spent trying something that maybe you shouldn’t try. Or if you’re going to test it, maybe you know that you need to go into something cautiously.
#4 – Friendships and Connections
Now, the mastermind group I’m a part of, I joined cold, meaning I didn’t know anybody going in. I joined one of them specifically because it was marketers, and there were people that I could learn something from as well as they could learn something from me.
I work in Google ads. There were people in the group that work in search engine optimization, social media marketing other marketing areas where I didn’t have as much experience. But while I was in these groups, I actually developed some friendships, as well as some business opportunities. And I’ll touch on that one a little bit more in a second.
But these are people that not only can I teach something to, they can learn something from me. Some of us have also traded business back and forth. I’ve also developed some personal friendships that I will have for years to come.
#3 – Accountability
Now, this one could be number one on a lot of people’s lists. In fact, a lot of people that I know would say this is their number one reason for joining a mastermind.
The reason it’s not my number one is that I usually hold myself to a pretty high standard. So when I set my goals, I keep track of them pretty well. And that’s kind of my accountability check.
But it’s always nice to know what other people’s goals are. And when we have mastermind group check-ins, people are like, “Okay, where are you at with your goals?
If you have not met them or you’re not on track, why or why not? And they may even say; “Is there something we can do to help you with those?”
Questions like that can be extremely powerful. But for a lot of people, it’s literally just that weekly, biweekly, monthly, or quarterly check-in. And you don’t want to let people down, right? You want to make sure that you’re keeping up with your goals and having that group of people helping you along, is extremely helpful.
And sometimes that little extra accountability check is all people need to take their businesses to the next level.
#2 – You Get to Learn From Other Business Owners
Now, that may not sound that important to some people, but to me, it absolutely is. Because we all are business owners.
We may not all have the same types of businesses, but we all have the same business problems. Those business problems are things like:
- How to hire employees
- How to deal with finances
- Hiring
- Firing
- Scaling our businesses
- Marketing our businesses
- Etc.
We all have the same problems. They might be at different levels and they might be in different industries but they are the same problems. A CEO has the exact same problems as a small business owner, just on a completely different level. Typically, a CEO is talking in millions or billions of dollars. And as a small business entrepreneur, you might be talking in thousands or tens of thousands.
CEO’s have to hire the right people. So do you.
They have to scale their business and keep it growing. So do you.
And that’s really powerful when you can talk to somebody that maybe is in a different industry, but figure out how they solved their problems for their business. You wouldn’t believe the amount of money I have saved my business, or the amount of time I have saved myself, by being in a group with other business owners who have helped me with those business problems.
#1 – Tips, Tricks and Knowledge
A lot of these people have done things that I have never done. I also have experience that a lot of them don’t have and I can share my experience.
And for those of you worry that somebody might steal my tips or tricks or secrets, I’m not worried about that. Most mastermind groups have a confidentiality agreement where essentially, you agree to not talk outside the group about what you’ve learned.
You’re supposed to take those things and implement them but you’re not supposed to share them. And I’m sure that somebody has gone behind somebody else’s back and done that before, but I’m not worried about it.
There is so much business out there, for all of us, that I would much rather form these connections by sharing a couple of tips and tricks. Besides, it’s always changing.
If you’re in the business world and you’re working online, you know that it changes every six months. So if I share a tip with somebody, chances are, six months or a year down the road, I’m not going to be doing the same thing.
I want to forge those relationships. I love the fact that I can share these ideas. I love the fact that people will share their tips and their knowledge with me, so it can save me money, it can save me time, it can save me effort, and I can skip a couple steps.
So, those are five reasons why I joined a mastermind group and that’s why it’s the number one thing I would suggest to entrepreneurs and solopreneurs for helping expand their business.
#6 – Bonus Reason – Business Opportunities
Now, I want to touch back on #4 when I talked about friendships and connections.
A connection that I actually made in a mastermind group was with a guy by the name of Joe Burnich. Now, Joe and I were involved in an online virtual mastermind group. And we loved it so much that we decided to take the concept and put it out there for others to join as well.
Where to Find a Mastermind Group?
Our mastermind group is called Impact Mastermind Group (click the link to find out more).
We have weekly online virtual mastermind group meetings. We have weekly workshops that are done by members to showcase how they’re running thier business or what they do and how they can help others.
We have member hot seats, where you can tell other members what you’re struggling with in your business, and you can get everybody’s help all at once.
We have people from different industries. We also have people joining mastermind groups that want to be with people in the same industry.
So, if you want to check us out, go to: https://ImpactMastermindGroup.com and apply to be a member today.
Hope that helps…
-Mike
