Top 14 Reasons to Join a Small Business Mastermind Group, Part 1

Top 14 Reasons to Join a Small Business Mastermind Group, Part 1

If you are serious about growing your business, consider joining a small business mastermind group.  First, we’ll explore what small business mastermind groups are. Then we’ll tell you the top 14 reasons to join a small business mastermind group, and how joining one can benefit you.

What are Small Business Mastermind Groups?

I first discovered the mastermind concept in Napoleon Hill’s book, Keys to Success.  He writes, “No one mind is complete by itself,” explaining that we need contact with others to grow and expand our minds.  He defined the term mastermind alliance as “two or more minds working actively together in perfect harmony toward a common definite object.”

Let’s put that into today’s language.  In the small business world, in its simplest form, a mastermind group is:

  • a meeting of two or more people who share a common purpose (business launch or business growth)
  • where each person is committed to helping every group member, including themselves, reach their common purpose
  • a meeting where brainstorming, accountability, support, education, sharing of knowledge and resources happen.

In a well-facilitated mastermind group, your business grows and you, personally, grow.  It’s a win/win.

Top 14 Reasons to Join a Small Business Mastermind Group

How can you benefit from joining a small business mastermind group?  Here are the top 14 reasons.  We start this list in Part 1 of this blog and continue it in Part 2.  We list them in no particular order.  Let’s jump in.

  1. Brainstorming.  Are you thinking about bringing a new product to market? Do you have a challenge that is making you lose sleep at night?  Or maybe you know something is missing, you’re not sure what it is, and you need to “talk it out” with some trusted colleagues to figure out what it is?  Well, your mastermind group is tailor-made for all these situations.  You build trust over time with group members.  This is your safe place to explore (seemingly) wild and wacky ideas as well as serious challenges.
  2. Accountability.  Good intentions and a dream are meaningless without action. By ourselves, with no support, we often set goals and don’t reach them.  We allow something else in our lives to take priority.  Your mastermind buddies work with you to make sure that doesn’t happen.  You will create your Action Plan, and your group will hold you accountable.  They will help you set goals that are meaningful, bigger than you might set by yourself, but not overwhelming (at least, not all at once!!).  You will constantly be checking that your goals are setting you up for success, not failure.  And then (again….drum roll, please) they hold you accountable.
  3. Think Bigger. This thread runs throughout everything that is done in a mastermind group.  You know people who set goals that are ALWAYS achievable, right? They are safe, sure goals.  That is not what happens in mastermind groups.  Your fellow group members will help you see the bigger picture, explore it, and set up an action plan that you will execute over time to achieve it.  So, think bigger, and achieve it in bite-size pieces.

We will explore the remaining 11 reasons in Part 2.  Also, check out our website for Startup to Growth Small Business Mastermind Groups. We have three tiers:  QuickStart, Breaking 6 Figures and Coaching for a Million.  Groups for mid-October 2018 are forming now.  If you have questions, email us at info@startuptogrowth.com or schedule a free consultation and we’ll discuss them!  We wish you much personal and business success!
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Robin Suomi, MBA, is an experienced small business expert and founder of Startup to Growth, LLC.  Working with clients remotely through video meeting platforms, she helps clients answer their technical business planning questions. She also encourages them to dig deeper, dream bigger, and works with them to create their Success Steps!  Check out the website for ongoing How to Start a Business and Business Plan Boot Camp workshops and seminars, 1-1 small business coaching and three tiers of Small Business Mastermind Groups:  QuickStart, Breaking 6 Figures, and Coaching for a Million.

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