How to Start and Maintain a
Mastermind Group

How does a Mastermind group differ from a networking group?

It’s all about PURPOSE

Networking: Meet people; make contacts; get leads and referrals; even do
business with others in the group

     Mastermind: “Coordination of knowledge and effort, in a spirit of harmony,
     between two or more people, for the attainment of a definite purpose.”
     - Napoleon Hill

Here’s what survey respondents said was the purpose of their groups…

    To enhance personal and professional lives

    To enhance personal, spiritual, business development

    To share information, ideas for personal and professional development

    To get and give support

    To avoid making decisions in a vacuum

    To provide accountability

    To work together for the success of each individual


 

Things to consider …

    Who should be in your Mastermind group?

      Seek out people who:

1. Are sold on and excited about the idea of a Mastermind group.

2. Are willing to make a commitment to the group.

3. Share values.

4. Respect each other.

5. Are at about the same level of experience.

6. Do not view others in the group as competitors* or potential customers.
             (It’s OK to be competitors…just don’t view others as competitors.)

7. Want to grow personally and professionally.

     8. Are genuinely concerned about the success of the others in the group

    What size should the group be?

While some groups are as small as 2 and others as large as 15, the ideal number
seems to be 4-6. Groups that are too large have difficulty in scheduling and in
giving each person their fair share of time.  While two people can serve as
accountability partners, having more people provides more ideas, information,
feedback, etc.

    What about the geographic make-up of the group?

While most of the groups are comprised of people in the same geographic area,
many are national in scope.  Even in the more localized Masterminds, members
often have to drive as much as 100 miles.  Whether local or national, if the
commitment is there, members will make the effort to attend.

     Once the group is formed, its first task is to establish some ground rules to which
     everyone can agree.  Agreement and commitment are essential in the following
     areas"
                                  
     Note: Some groups require members to sign a “commitment contract”.

 

    Why are we doing this?  What’s the purpose?

Identify early on the purpose of the group.  Is its purpose support?  Education? 
Group marketing?  Product development?  Skills training? Personal / Professional
development? Group therapy?  Fun?  While most groups seem to include a little
bit of all these elements, those that have a defined clarity of purpose tend to be
the most effective over time.

    What are the ground rules?

Get agreement from the group about policy, attendance, confidentiality, commitment.

Some groups re-evaluate at the beginning of each year and give members the option to leave or re-commit.

   How often should the group meet? 

Some meet weekly, others quarterly, and a range of times in between.  And most
Mastermind members stay in touch in between their face-to-face meetings with
scheduled teleconferences, one-on-one phone calls, emails.

   What will the format of the meetings be?

Generally speaking, most groups include time for the following:

     1.  Socializing (Sales Professionals love to eat, drink, and have fun. Another
          reason for selecting people whom you enjoy!)
     2.  Sharing successes    
     3.  Sharing challenges
     4.  Problem-solving
     5.  Commitment to future goals

Make sure each person is given his/her fair share of time. Some groups
determine a topic or theme for the meeting – i.e., marketing, presentation
skills, etc.  Others include time to study a book or topic of general interest.
Some have guest speakers.  Most groups seem to benefit from a “retreat” weekend at least once a year.

    Who’s the boss?

     Most groups rotate leadership so that each member takes responsibility for making
     meeting arrangements, creating an agenda, leading the discussion, keeping
     members on track.

·        Are there attendance requirements?  If so, what are they?

     Most successful groups have strict attendance requirements.  It’s critical to
     establish a policy and stick with it.  Each person should be very clear on what
     is expected.

·        What about adding new people?  How will that be handled?

     This, too, is a critical element.  Most respondents to the survey agreed that
     anytime a new person is added, the dynamics of the group change.  It’s
     imperative that everyone in the group be in agreement about adding a new
     person.

 

  Challenges:

         1.  Scheduling!!!

2.      2.  Establishing and enforcing the rules

3.      3.  Finding the right “fit” of people

4.      4.  Keeping one person from dominating the time

5.      5.  Maintaining focus; staying on track

6.      6.  Becoming such close friends that we don’t challenge each other

7.      7.  Maintaining commitment

8.      8.  Maintaining confidentiality

         9.  Limited time

  Benefits:

1.      1.  Support

2.      2.  Accountability

3.      3.  Safe environment to seek help and be honest

4.      4.  Sense of community

5.      5.  Wealth of knowledge and years of experience

6.      6.  Close relationships with people who understand the challenges of sales

7.      7.  Feedback

8.      8.  Help in decision-making

9.      9.  Mentoring

       10.  Motivation
 

  What advice would you give to others re: starting and maintaining a
  successful  Mastermind group?   (Answers represent the views of the
  survey participants.)

   “Find like-minded individuals at similar levels.”

   “Have clear guidelines regarding attendance.”

   “Put some money in the pot.”

   “Have a clear picture of how you want it to work before you start.”

   “Honor differences.”

   “Include people who are committed to getting better.”

   “Insist on commitment and accountability”

   “Get a good mix of people.  Select carefully.”

   “Stay in touch in between face-to-face meetings.”

   "Be fully present – ready to listen attentively to each person.” 

   "Choose people whom you respect, admire, and enjoy.”

   "Establish the rules together.”

   “Be sure everyone is getting from the group what they need.

   “Don’t try to sell your services to others in the group.”

   “Rotate leadership.”

   "If you’re not open to including others, keep the group quiet in your company.”

   “Choose people who think this is important and who will honor their commitments.”

   “Be prepared to give…and receive…honest feedback.”

   “Confidentiality is essential!”

   “Pick people whom you trust.”

   “Just Do It!”

“No one succeeds alone.”
Ray Kroc

Special thanks to the many NSA members who took the time to so willingly respond to our
survey and to share their experiences, thoughts, and advice on this topic.

From "I'll Get By With A Little Help From My Friends"
Beverly Smallwood, PhD
Julie Alexander, M.A. 

 ******************************

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