This article talks through what the experience, conversation topics and the outcomes are like when for those who dedicate time and energy into participating in a mastermind.
What is a mastermind?
As a community of entrepreneurs, we stand in each other's corners striving intentionally for business success. We share openly about the challenges we're facing so others can provide helpful insight from their own experiences. We celebrate each other's wins. And we communicate what works and what doesn't to help one another rise.
The goal is to bring committed, motivated goal-getters in one space, and when we do, a beautiful synergy happens.
When this community meets, actionable conversation flows, fresh new ideas emerge, powerful experiences are shared so others can learn, and a new world of possibilities begin to emerge.
The beginning of a Mastermind initiative
One of the challenges entrepreneurship presents is making the majority of the decisions alone, in uncharted territory.
I work from home, I have a team but they're all remote so I was looking for a group of people who operate in their own companies or within businesses that I could be sharpened by. I knew that if I was being sharpened other people would be sharpened as well. The intention was not just to serve myself, but to serve others looking to grow and develop, too.
I started laying the groundwork thinking about what outcomes the group should strive for and what the structure might look like. I put the word out and invited people to apply to become members. It was important that all members were dedicated to the purpose, good decision-makers themselves, and "within reach" so that all members could relate to and support one another.
We had a great turnout for those who applied. Once I started receiving applications, I reviewed their applications to be sure the right synergy was there to form our group.
We currently have a group of about seven who meet on a regular basis. We are in each other's corners while we support each other and help each other through challenges. The experience has been invaluable.
The Mastermind Structure
Within this Mastermind, everyone is in different states, jobs, and industries so we all meet remotely once a month. We plan ahead by choosing a date and time, so we know every month when we will meet. Since the date and time was group-chosen, everyone is responsible for attending.
Each month we announce the next month's topic giving us time to think about questions, do a little bit of research or for the presenter to prepare for that month. There's a lot of thought and commitment that goes into it.
Each of us has a special expertise and diverse backgrounds we bring to the group. Since we can’t all become the expert in every area, we each take turns presenting and teaching each other actionable takeaways from our individual expertise. We have been able to gain the knowledge and the decision-making ability of somebody who has insight with:
- Systems + processes
- and the list goes on.....
Real Estate Investing
Another topic we've talked about is real estate investing. The goal in my business (and I know that it's like this for a lot of other business owners) is to take the revenue that I'm driving in my business and create additional revenue streams.
Through this Mastermind group, I’ve been able to learn how others have done it. I want to be able to be a good decision-maker when it comes to how I use the income wisely to grow something bigger than a paycheck.
Developing relationships before you need them is crucial. Through this Mastermind we’ve gained community through people we can talk with and establish problem solving strategies together. We discuss specific challenges or projects in each of our businesses and we get to learn what others think about it and how they might solve the same challenge. Community has given each of us a sounding board so that we can move the needle in our businesses to become more successful.
2. Learning from others experience and expertise
If there's a mistake that I have made, I don't want you to make that same mistake and vice-versa. We share with each other what did and didn't work for our business so that you we can apply it and skip the real world learning curve.
3. Having a group full of advice
Sometimes you come upon challenges in your business and you don’t know how to solve it. Whether it's working with other people, hiring employees, how to scale, etc. When we’re alone we feel like we just don't know how we’re going to get through the next challenge. In this Mastermind we are all here for each other to lend the expertise and experience to push through the next challenge with actionable strategies.
When I first opened my business I craved the discernment and good decision-making that I've received through this Mastermind, download this FREE guide, 4 Smart Habits for Successful Business for insight on habits that serve as drivers when it comes to success in business.
Join the Mastermind community!
If this sounds like something that could be useful for you and your business, I would love for you to reach out to me or find out more information. This group is an amazingly experienced, motivated, initiative taking group. I want you to have the same benefit that I have had, so if you are interested in joining the Masterminds reach out to me. I would LOVE to link you up with the Masterminds experience.
I am here for you in your corner!
ABOUT THE AUTHOR, FRANCIE HINRICHSEN
Hi there and WELCOME! I'm Francie. There's something you should know... When my feet hit the floor every morning, my soul is on fire to help people start, grow, and market the profitable and successful business they dream about.
I started this business, Simply Integrated, in 2015 and have fallen madly in love with teaching small business owners how to run their companies more successfully and marketing to impact bottom line profitability.
My knowledge and experience comes from earning an MBA and from coaching small business entrepreneurs while managing and marketing their projects. I focus solely on business strategy and marketing and created this blog to help others run more successful businesses. If you’re interested, you can read more about me on the About page of Simply Integrated’s website.
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