213 How To Start And Run A Mastermind Group

By Leslie Samuel | Mindset

Apr 29

Ever wish you could connect with other entrepreneurs or bloggers who can help you on your journey?

Do you sometimes feel like blogging is an isolating hobby?

Want to connect with bright minds and work together towards the success of everyone in the group?

Listen to This Episode

Then you should consider starting or joining a mastermind group, and that’s what this episode is all about.

Inside This Episode

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How To Start And Run A Mastermind Group

One of the BEST decisions I’ve made in my blogging business to date was to join a mastermind group. It has helped me in so many ways. A few of them include:

  • Learning from others who have done what I want to do
  • It’s a place for us to brainstorm ideas and help each other out
  • Connecting with like minded individuals
  • Not taking on this entrepreneurship thing alone
  • Having guys that I know are in my corner

I loved it so much that I’ve actually been in three mastermind groups for different reasons.

The Greenroom Mastermind

This was the first mastermind group that I joined. This group sold me on the power of the mastermind group. The members of this group are:

Mastermind group

The Nerds Mastermind

This was the second mastermind group I joined with two other Science bloggers. However, since I no longer actively focus on my Biology Blog, I eventually decided to leave the group.

Episode-147_lauren-greutman


Lauren Greutman from Mark and Lauren G and I Am That Lady

The Unnamed Mastermind

This is my most recent mastermind group with Mark and Lauren Greutman from Mark and Lauren G and I Am That Lady. I joined this group for two reasons:

  • I wanted to be in a mastermind group with people outside of what I currently do, to get an outside perspective.
  • I’m very interested in learning more about using traditional media to market my blog. Lauren’s an expert on the topic.

To find out how I got into or started these groups, you should listen to the episode. I can’t give everything away here 😉

How To Start Your Own Mastermind Group

As you will hear in the episode, all 3 of my mastermind groups started in different ways. The question then becomes – how should YOU go about starting your own mastermind group? There are a number of things to consider.

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Determine the kind of people you should seek out to be a part of it

Have a clear reason for your mastermind group

When thinking about starting a mastermind group, don’t just do it for the sake of doing it. You want to have a clear reason for starting it.

Your reason for starting the group will determine the kind of people you should seek out to be a part of it. Are you doing it for a way to bounce ideas off each other? Is it because you want to learn more about how to manage your business? Or it it because you want to learn more about media exposure?

There are many reasons why you may want to start one. Just be clear on what that is for you.

Connect with the right people

Once you know your reason for starting a mastermind group, that will give you an idea of the kind of people that should be in the group.

The next step would be to connect with those people. Here are some ways you can do that:

  • Connect

    Connect with the right people

    Commenting on their blogs

  • Interacting on social media
  • Connecting via email
  • Skype conversations
  • Live in-person events (BEST)

The key is this. Connect with the right people in an authentic way, not just because you want to get something from them. Relationships are at the heart of any good mastermind group.

Make the pitch

Once you’ve connected with the right people, it’s time to make the pitch. This can be via a simple email, a call, or in person.

handshake-(2)

Make the pitch

Share with them your reason for wanting to start the mastermind group, and what the group can do for them. What value will they get from being a part of this awesome new mastermind group?

What do you bring to the table? What do the other potential members bring to the table?

A Word On Commitment

If members aren’t 100% committed to the mastermind group, things can easily fall apart. This has the ability to make or break any mastermind group.

When starting a mastermind group, make sure to address this topic head on from the very beginning. Let them know that this will be a serious commitment and if they aren’t able to commit, they shouldn’t join.

How To Structure Your Mastermind Meetings

There are many ways to structure your meetings and the way we do it isn’t the way it HAS TO be. However, we’ve found it to be very useful. Here’s how we structure all our mastermind meetings:

  • brainstorming

    Mastermind Meetings

    Win of the week – we start by giving each member a minute or two to mention one win of the week. This is something that went well for them and may or may not be business-related. Starting off on a positive note really sets the tone for the rest of the meeting.

  • Shared Resource and Hot Seat – Each week, one person is in the hot seat. That person has the rest of the time to share whatever they want to share and get input from the rest of the group. At the beginning of their time, they share one resource that they use and then they dive into their full hot seat.
  • Action items – At the end of the hot seat time, the person who was in the hot seat can share what they plan on getting done by the next time they are in the hot seat. This doesn’t always happen depending on the topic of discussion, but it’s a good way for us to hold each other accountable.

Your Turn

Are you in a mastermind group? If so, how’s it working for you. If not, are you thinking about starting one? Lets discuss below.

Transcript

Some people just love being able to read along with interviews, or they might just prefer to skip the audio completely and just read through the transcript. Hey, if that’s what floats your boat, it is all good. Here’s the transcript just for you :)

Click here to download transcript.

Infographic

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How to Start and Run a Mastermind Group

  • Frantz says:

    This is an interesting post. Before I can do an internet search on mastermind group do you have a directory of differen tmastermind groups that you can provide me?

  • Ben Murray says:

    Awesome stuff man. Masterminds I believe were first really talked about as a viable strategy for wealth by Napoleon Hill is are one of the best things you can do to make drastic progress in your business today.

    Thanks a lot for outlining these so well, I think a lot of people will greatly benefit.

  • Nice Article!

    Thanks for the transcript to your podcast. Those come in really handy since i have a hearing difficulty.
    Leslie could also provide a transcript for the videos in your Free Course ?

  • Hi, Leslie!

    Great podcast. I had been for some weeks thinking on this subject and you just added some great ideas on how to conduct the group. Really grateful, thanks!

  • Thank you for a great post. My experiences were not good, but may use your process to find one that fits better. The two masterminds were not useful. While I enjoyed and liked the people. Every time we met, they were very thankful for my input and felt I truly helped them, but also said they wish they had more experience to help me, too. Unfortunately, these were masterminds which were formed by a group where they just assigned people to groups and not chosen by characteristics or experience.

    • I hear you Thomas. It’s so important that you are in a group with the right people. That makes or break it. I would recommend that you consider starting your own mastermind group with like-minded individuals who have somewhat similar levels of expertise. That’s my suggestion.

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