Why have a mastermind group?

As is often the case as your business grows, new challenges will come along. So, who do you turn to, to gain insight on how to overcome these challenges? You may have heard of a mastermind group, a group of business owners who come together to share ideas for business growth.

Who is part of your mastermind group?Image - without business coaching, being a business owner can be a lonely business

Being a business owner can be quite lonely. When you’re at the “top”, you don’t have peers as such, and perhaps don’t have anyone you can confide in for business related matters.

Friends & Family as Mastermind members?

I’m sure you have family and friends – some of whom you may be able to bounce ideas around with. Sometimes friends do have great ideas, if you can steer the conversation in that direction. But actually friends are friends – and it’s healthy for you to take time away from your business to relax, and not to “talk shop” whilst relaxing.

Business Networking Groups as Mastermind pals?

Business networking such as BNI provides a regular group of business owners for chat and banter, and some of these networking groups such as BNI are also great ways to develop new leads for your business (as well as passing leads to others). Confiding your current challenges might leave you feeling a bit exposed. If the others aren’t equipped to make constructive suggestions, the risk it becomes a “pity party” with everyone bemoaning the “trials and tribulations” affecting their business, and actually not making any progress. Take a look at my blog on responsibility for a bit more about this topic.

Business Networking Groups are your extended sales team

However as a forum often these networking groups are not appropriate to share your business concerns, frustrations or challenges. Your network typically want to know about your successes – afterall, if they’re acting as your extended sales team, referring you and your business into their contacts, it’s important that you present a solid front. They want and need to have confidence in you in order to be able to confidently refer business. This is really not the time or place to describe your hiring woes, your man-management issues or your supplier concerns.

What is a Mastermind Group

You may have come across the term “MASTERMIND GROUP”. The idea is one which probably first written down by Napoleon Hill back in about 1932, in a book was called Think and Grow Rich (the link is to the hardback unabridged version on Amazon – but there are free PDF downloads available) Hill researched and then describes the mental and physical activities that were common to successful businessmen (and they seem to have been all men, back in the day).

The mastermind group refers to the fact that two brains focused on a problem will generate more solutions and ideas than one, and that the more brains together – the more opportunity for problem solving. The key is that all have to be in harmony and focussed on a common goal.

Of course just because a group of people come together – doesn’t mean that they want to talk about your business. So these groups need structure and discipline. They need an honesty to share current concerns, and levels of trust in the group that things are kept confidential.

Our Mastermind Group

So “what’s all this got to do with business coaching in Guildford?” I hear you ask.

Well, I have a couple of groups that might be of interest.  ActionCLUB and BookCLUB.  These are both tried and tested ActionCOACH programmes.  For each, I will lead the group, there will be other business owners in the room – you will get some tangible ideas for growing your business, as well as working with other business owners who are keen to grow their businesses too.  A

So, if you want to grow your business, or just work in a trusted environment then come and join business owners like you from across Surrey, Hampshire and London. Increase your knowledge, build your skills, network and form friendship and find out how to make more money and achieve your goals.

Call us on 07973 288043 to book your place.



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