What makes a good mastermind group?
I thought I'd follow on to the Mastermind post and dig a little deeper into what exactly they are and do.
There are a few key components of these groups that I personally look for, and these are meetings, to be kept accountable, support system and of course, brainpower!
Meetings. For EO (Entrepreneurs Organization) and C12 we have a monthly meeting. EO is 4 hours long and we have a preplanned agenda full of relevant topics related to our business and/or personal lives. The mantra here is "trust and respect" and as such my EO "forum", or board of advisors, are a group of fellow 'treps I can share some really deep stuff with. It's freakin' awesome and to miss forum is usually taboo! C12 is usually 7-8 hours. It is Christ focused and while the 'tone' is not quite as deep as EO, the value is just as incredible. EO and C12 meetings are both structure and have content relevant to us as entrepreneurs. There is rarely a free for all day. We come in to these meetings expecting to learn, grow and share.
Accountability. It's easy for most entrepreneurs to get distracted. Really easy. So the accountability factor both EO and C12 provide is 2nd to none. Knowing I have to report back to my peers keeps me in check. And I need that. Plus having peers to bounce things off when I am stuck is priceless.
Support structure. Who better to lean on then fellow peers who have been there, done that, failed and got the t-shirt? It's hard to share business woes with my barber...or talk hiring practices with mom...or how I'm gonna make payroll with my sister. The support is incredible and knowing that when it's good...and bad...that I have a group of peers to share with. Again...priceless.
Brainpower. Wow. This deserves it's own posting. The combined knowledge and expertise of my peers in these groups is often intimidating. It's often jawdropping for me to know I can share ideas from a $500mm (1/2 billion) sized company CEO and get real, relevant feedback. The combined experience share between our masterminds is truly an awesome thing to be a part of.
So there you have it. These are the things important for me as I dig into mastermind groups. I want to be surrounded by successful entrepreneurs who can share how we balance it all...AND...grow killer businesses.
Why do you want or need a mastermind group?
Cheers to building better businesses!