Top 14 Reasons to Join a Small Business Mastermind Group, Part 2
In Part 1 of the Top 14 Reasons to Join a Small Business Mastermind Group we covered what mastermind groups are and the first three reasons why as a small business owner you should join one – brainstorming, accountability, and to help you “think bigger.”
In Part 2, we continue with our top reasons to join a small business mastermind group.
Top 14 Reasons to Join a Small Business Mastermind Group (Continued)
Here are more top reasons to join a mastermind group, in no particular order:
- Support. Sometimes as a small business owner it feels like you against the world. You love your family and friends, but they don’t understand anything about what you are doing or what your challenges are. They want to help, but they really don’t know how. Or you talk to other business owners, and even THEY don’t understand what you are going through. They will tell you all about their business, but their eyes glaze over when you begin to talk about yours. Where can you find a group of people who “have your back” no matter what is going on in your life and your business, a group with no hidden agenda? A small business mastermind group fits the bill nicely.
- New Business Ideas. While helping each other, whether you’re in the “focus seat” (a/k/a hot seat, but I personally don’t like that term, so I changed it!) or during your mastermind meeting update, the group is often discussing new business ideas. When you’re in a roomful of bright, dedicated, focused small business owners, how can it be any other way?! It might even be something you had thought of before and rejected, or an idea you had decided to pursue but just hadn’t gotten around to it yet. In your mastermind discussion, you will see these ideas from a different perspective, and hear everyone else’s thoughts on them. So whether it’s a revisited idea or a brand-spanking-new idea, it just might be the idea that you decide to pursue next. And it could make a big difference in your business.
- Better Decision-Making. Back to brainstorming and new ideas. Again, ideas are a dime a dozen. What really matters is your choice of which idea(s) to pursue. Logically, what are the steps you need to take to execute that idea? How much time should you allow? Is the idea timely? Does it support your strategy? If you run with the idea, what comes next? Do you see how this is going? Better decision-making is a key benefit of small business mastermind groups.
- Aha Moments. And I say “moments” because they happen often. What is an aha moment? Wikipedia describes it as that moment of suddenly understanding a previously incomprehensible problem or concept. That’s what I’m talking about, and they are golden! In our groups, the act of discussing your challenges with your mastermind-mates at the table leads to your “aha moments.” I love it when they occur! It is a group “victory dance” moment when the presenter stops, looks at the group and says something like, “I just figured it out…it seems so obvious to me now, why didn’t I think of it before?” That’s the beauty of a mastermind group with clear, actionable deadlines. The group is holding you accountable, your conscious and subconscious minds get into gear, and you find solutions.
- Learn New Skills. Often the group wants to learn more about a specific topic. We sometimes address that by scheduling a speaker, whether it’s an outside professional or a group member who excels on that topic. And it is more fun to learn together, especially in a group that has bonded. You not only ask questions you want to be answered, but you’ll also think of questions a fellow group member wants but might not be thinking of. Again, more minds are better than one. The group has your back!
- Test Yourself. When you are by yourself, you often play it safe. Not with mastermind groups. You will be constantly testing and challenging yourself, but in a positive way. Not wild risks, but not uber-safe steps, either.
- Positive Impact on Others. As we grow and mature, we want to help others. There are many ways outside of business to achieve this desire, and mastermind groups are a way to fill this need inside the business world. With a well-run mastermind group, you are only selected to participate if you want to help others, not just yourself. Yes, every member wants to grow their own business, but they also want every other member in their group to succeed. I still love watching the positive impact group members have on each other with a well-placed compliment, specific and well-deserved praise, and simply the offer to meet outside group to lend a hand. It means the world to your fellow mastermind group members. And ultimately it means the world to you to be able to have a positive impact on the lives and businesses of others.
- Focus on Priorities. I call this one “fight overwhelm.” I hate to be the one to tell you this, but you simply cannot do it all. Small business owners often have too many irons in the fire, and they barely know where to start or which fire to put out first. The group helps you focus on your priorities. When you do that, overwhelm begins to fade away.
- Stronger Network. As you work with your mastermind members and gain their trust, you bond. The friendships and “business-ships” formed in my small business mastermind groups often last for years. Interestingly enough, even when you know someone before you join the group, you may not know them really well. Members often say to me, “I knew so-and-so before our group, but not like I know him/her now. They are now part of my circle. That alone has been priceless.” And there’s more! As you gain the trust of your fellow mastermind group members, they will offer to introduce you to someone else in their circle that you need to know. These are often people you would never have met without your mastermind group. For you this means a wider, deeper, stronger network.
- Gain Confidence. While these reasons to join a small business mastermind group are in no particular order, one item does lead to the next. By focusing on priorities, gaining new skills, making better decisions, stepping into accountability, you gain confidence as a business owner. There is no better feeling than this! It’s not easy, but it’s worth it.
- Increased profits. When you gain confidence in yourself, you show a more confident self to your customers, employees, partners, suppliers and others. When you are confident you are more at peace, and you worry less. It’s not surprising that you are likely to increase your profits as a result.
So now you have my top 14 reasons to join a small business growth mastermind group, as of this writing. Find a group, join it, and work on your business!
If you are searching for small business mastermind groups to join, check out ours. We have three tiers of mastermind groups: QuickStart, Breaking 6 Figures, and Coaching for a Million. Most of our groups meet online at set days/times, through a video meeting platform, with a minimum commitment of 6 months.
I wish you much business success moving forward! Please let me know if you have any questions or comments. I would love to hear from you.
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.