How Do I Create a Mastermind Group? Steps in Building Your Own Mastermind
So, you know what a mastermind group is, and you’re sure a mastermind is right for you. You’re ready to start your mastermind journey and reap the amazing benefits that come with joining a group of like-minded entrepreneurs, each investing in each other’s success. So how do you do it? Let me give you an overview of how to build your own mastermind group.
Step 1: Find 4-6 people who are interested in personal or business growth toward similar goals. You’ll want them to be no more than a step behind or ahead of you in the process.
Step 2: Choose a frequency, schedule and format for your group. Most groups meet every week or every other week. The Format determines the agenda for the meeting each week. It defines for example how each member of the group participates each week and how the hotseat works.
Step 3: Create some group agreements. You’ll want to come up with a confidentiality commitment and another on how things in the group will be decided. Decide if there will be a group leader who handles admin such as updating the schedule and sending reminders, or if these tasks will rotate with the moderator.
Step 4: Create a group record document: one place where everyone can refer to for things like schedules, contact info and individual goals for accountability updates.
Step 5: Select one person in the group to be in the hotseat first and one person to moderate, if you are rotating moderators.
Step 6: Have your first meeting! The hot seat member should be prepared, being ready to share about some current challenges they are facing. The moderator should keep the call flowing through the format and keep everyone on task.
Step 7: Set up a communication channel to check in on accountability goals, get quick feedback, and cheer each other on between meetings. Software like Slack or even apps like MarcoPolo can help group members and keep in touch.
Step 8: Schedule the next meeting, assign roles, update your record. Keep up with these essential tasks to keep your mastermind working.
Step 9: Grow your businesses! Over time, your mastermind group will transform from a group of acquaintances to friends and valuable colleagues!