7 Easy Steps to Run a Mastermind Group like a Pro.
Mastermind Groups might be the best tool to reach your goals
Even though the concept probably existed since thousands of years, the concept of the Mastermind Group has first been described Napolean Hill in 1925 in his book The Law of Success, and described in more detail in his 1937 book Think and Grow Rich. By his definition, a Mastermind Group is…
Benefits of a Mastermind Group
Choose an Intention
- Topic-based (e.g., teaching yoga, animal rights)
- Mission-based (e.g. plant 1,000,000 trees, contribute to your community)
- Business-focused (e.g. double revenue in 2021, grow passive income)
- Other goals & accountability (e.g., sticking to New Year’s resolutions and other habits)
Determine the Size
- 3-8 members (5-6 is ideal)
- > 8 members should be broken down into assigned to multiple smaller groups
Match members that could benefit each other for years to come with…
- Similar drive, commitment, and progress. Don’t mix e.g. entrepreneurs who are just starting with those who wish to scale their business to 8 figures
- Diverse skillsets (e.g. mix analytical with emotional thinkers)
- Problem solving abilities
Agree on Values & Rules
Provide a space for honest, smart feedback for members to grow.
- Set start and end dates (if any). Aim for a minimum of 3 months to make sure that all members experience significant growth with regards to your group’s intention.
- Meet regularly (We recommend 60mins/week)
- Attendance at a high level is crucial for collective appreciation and team dynamics (Miss more than 2 sessions / less than 80% attendance and you’re out)
Facilitate valuable discussions
Give each member equal time (minimum of 10 minutes) to share…
- Flow: “Last week I made progress with …”
- Learning: “My biggest new lesson learned …”
- Horizon: “Next up, I will …”
- Pain: “My biggest challenge right now is … / I need advice on …”
- Advice: Let other members share their advice
Write your Mission Statement
Allow for Iterations
You might find that longer/shorter sessions work better, members might come and go, …
Strive for consistency and stability but let the group decide what works best for them. In the end, you are just the facilitator that helps your Mastermind Group to thrive.