Radical Idea #3: Mastermind Groups
What is a Mastermind Group? Why should you create one?
As defined by marketing guru and thought leader, Ian Brodie:
“In a traditional mastermind business leaders and entrepreneurs meet to help each other out with advice, challenge, motivation and guidance.
Members share their goals, their challenges, their opportunities. And they get input from the bright business minds around them to challenge their thinking, give them new ideas and perspectives, share their experiences of similar situations. Masterminds often share best practices and emerging trends too so that members benefit from the early experiences and experiments of others in the group.
And sometimes a mastermind can act as an accountability group too. With members motivated to push through barriers and hit their goals because they’ve shared those goals with their mastermind partners.”
Just to clarify: In the podcast, on Ian’s site, Dov is speaking about changing his mastermind group into a different type of platform so don’t get confused between the two. Nor is a mastermind group the same as a Think Tank, which is more of an organization with a specialist subject and goal, often linked to research or specific world/industry issues.
The first type of mastermind group is quite historic in origin, starting with the Lunar Society in the UK (of course – we Brits like to be innovative ;-)) as early as 1765!
What are the advantages to you?
You can talk about and get feedback, input and support on your professional challenges and objectives to help you get better results, faster. Your fellow mastermind group members will have more objectivity than you, and often will see another angle that you haven’t thought of due to different experience and/or professional field. Your input to them, as well as giving them support and objectivity, can frequently open up new ideas in your own head about other issues and creation of productive solutions.
Setting up a mastermind group within your company gives an excellent example of you, again, being innovative, a thought leader and someone who is not only trying to advance your own career, but also the careers of those around you, while at the same time boosting your company’s productivity and improving results!
Again you are initiating a real win-win situation!
Choose your co-members with care. You want a group of about 5-7 people, who have different, but complementary skills/roles. Be sure to select energetic people who are curious, generous, at a good level or on the fast track to being there, and who are reliable. The best genius in the world is a complete waste of time if they never show up, or, egocentrically, only want to talk about themselves without being interested in the other people in the group. Remember it is a friendly meeting, definitely not a competition or exercise in criticism!
Start small, have a ‘host’ (preferably you) to lead, organize and manage the meetings, topics, suggestions and invitation of additional members.
Sometimes it is good to start off with a meeting every fortnight and then after the first few months this can be extended to approx. once a month. Probably allow a couple of hours per meeting. They tend to go over time, so one hour is normally not enough 😉
Create, enjoy and reap the benefits!
“Anna Cook is particularly passionate about mentoring women executives, and the 50+ sector, in finding clarity in their career choices to achieve freedom, fulfilment and leadership success. She created and became CEO of her first company in the entertainment industry at age 32. Midlife approaching, hungry for a dynamic change, she refocused her experience, founding WomenUP Ltd, a specialist consultancy focusing on the challenges of corporate gender balance strategy”. Creator of the process SCOPE for career fulfilment.
On the personal front, she is a committed dog lover and accomplished horsewoman, passionately interested in ballet, and a devotee of adventurous hiking and trekking.