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How to Start a Mastermind Group Effectively

October 30, 2009

Tags: 3 Years, Blog, Google, Information Product, Leadership, mastermind group, Mastermind Groups, Masterminding, Matter Of Fact, Mission Statement, Niche Markets, Ole, Personal, Perspective, Product Launches, Reflection, Rules Of Thumb, SEO, Traffic, Yahoo
Posted in: Habits of Entrepreneurs

Last year I wrote a post how to start a mastermind group that has been on the first page of Google for a year.  I get a lot of traffic to this blog (that I don’t write all to often on now) from this one post.  That’s the power of SEO!   I say that to say that I’ve had a ton of interest from folks online finding me via Google and Yahoo search asking me how to start a mastermind or how to find the right one to fit in to.

I have started 2 different Mastermind Groups for different niche markets within the last 3 years and have most of the experience in leading them.  I’ve learned from my experience and mistakes what things to understand when you are starting a mastermind group.  Before you start or join any ole’ mastermind group you will want to have at keep at least 5 things in mind (below).

Both times the benefits of starting and participating in the mastermind groups were immense.  I was more productive, motivated and felt I had a big support system in place.  I did better financially because of them as well.

As a matter of fact it is commonly said that the income you generate from your business(es) is a direct reflection of the top 5 people you invest your time with.  So let’s get to some masterminding rules of thumb to get you started masterminding on the right track!

How To Start a Mastermind Group That Lasts Effectively

From a Mastermind Leader Perspective: Learn from the Online Mastermindress…

1) Know what your Goal for having the Mastermind Group Is .

Ask Yourself:

• Why do you want to start a mastermind group in the first place?
• Do you want to find a group where you can bounce Social Media or SEO ideas and theories off of?
• Do you want to find a mastermind group where you can fit in and have them help you with your information product launches?
• What exactly do you hope to gain from forming the mastermind group?  Is it personal and financial development?
• Write down your goals and create a mission statement for your mastermind group that the whole team can rally around.
• Be clear on why you are doing it.  Don’t just follow the pack.  Your group will last longer if you all have a common goal.

2) How Much Time will You Commit to Leading or Sharing the Mastermind Group Leadership Responsibilities?

Leading a mastermind group not only means that you will devote an hour every other week to have a virtual round table discussion on the best way to launch an information product, build your SEO and web visibility or influence your social media fans.  It also means putting in the time to make sure you are aware of every single members’ goals and intentions for participation in the group (as well as their evolving goals).

Be prepared to be a true leader in every sense of the word.  Care about the other members’ goals and aspirations.  Make them feel important by allowing them to run a mastermind meeting.  Leaders also have to follow in order to lead.

Also, be prepared to invest your time in the weekly/biweekly/monthly agenda.  One thing I’ve learned is that having somewhat of an agenda or at the least outline will help you get the most out of your mastermind group meetings and will also help your partners see the value in continuing to contribute to the group.  If you are not organized it will seem like a waste of your partners’ valuable time.

3) Build a Mastermind Group of True Givers.

While we are on the subject of contribution… Find partners who will contribute weather monetarily or with their time and skills to help the group flourish.  Don’t accept any tire-kickers in your group.  Keep the complainers and whiners out.  You want a group of positive minded, success-driven, go-getters who are creative, and will contribute in any way they can.  These folks stick around longer and commit their time and energy into making the group a collaborative success.

4) Don’t Just Be Mastermind Group Member.  Get to Know Each other on a Personal Level.

This is something I highly recommend.  It can’t be business all of the time.  Besides mastermind partners are more of like business partners who are also great friends.  Think of Henry Ford , Napoleon Hill , and John D. Rockefeller .  Those folks’ mastermind partners were almost like family.  The more you know each other on a personal level, the more you trust one another and the more the group grows business wise because of it.

5) Stay In Touch and Grow In Between Mastermind Groups Meetings.

Depending on how rallied and committed your cause and your group is you will want to possible have accountability partnerships AKA "goal buddies."  Having someone that you can connect with on a more frequent basis in between your meetings will help you on the right path to accomplishing all of your online marketing goals.  Share tips, articles, valuable tweets etc on Facebook or FriendFeed.  Keep each other motivated by staying in touch in between sessions will make all the more difference in a cohesive mastermind group that outlasts and lives out its mission.

Any questions on how to start your mastermind group? Are you ready to join one?  Let us hear how helpful these tips were for you.

I appreciate you!

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