Building a Mastermind Group – Part I Intake

Many people are not ready or financially able to invest in getting outside support through a paid mentor or coach. In one of my more recent posts (There is no ‘I’ in ‘TEAM’ and no ‘TEAM’ in ‘BUSINESS OWNER’) I talk about getting the support you need in your business. So we know you need this support but how do you get it if you cannot afford it.

To have an effective mastermind group you will need to have three things in place: Intake, Commitment and Rules. Today will talk about what is needed for the intake in the process of building your own mastermind group.

1. Intake

There needs to be an intake process that ensures you have a group of people that are compatible. The group should consist of a few people that are not competitors and are all about the same level of business success as each other and here’s why:

Competitors

In a peer group filled with competitors people feel compelled to talk about how great things are going and may not feel safe to reveal to a competitor that their business is struggling in some aspect. No one wants their competitor to have that kind of edge.

Same Level of Success

The group needs to have people at the same level of success so that everyone can equally participate. If one person is farther advanced or behind they will feel like they are giving or taking all the time. Since you are not paying for this group you need all the participant to contribute equally to the topics.

Additional support

It may be a good idea to get a coach as one of the participants. They may have the skills to take people deeper into their challenges so you can get to the root issue. Be careful you do not have the coach working through the entire meeting. Again you will have one person giving more then they are receiving and that might hurt the effectiveness of the group.

Get the right people in your group and you will have the most phenomenal support for your business.