5 Amazing Benefits of Mastermind Groups for Entrepreneurs

For years I have heard about of the power of mastermind groups. Yet it wasn’t really until the beginning of this year that I stepped out and did it. If you are a infropreneur, solo-preneur, entrepreneur or free spirit, then you need a mastermind group.

benefits of forming a mastermind group

About 9 months ago, I had one of those “aha” moments in my business. It wasn’t a good “aha” moment, but a “I’ve missed the boat here” kind of a moment. I have been blogging since 2009. Before that I was an Executive Recruiter, in which I helped others find meaningful work. To be successful at that level you have to be a relationship builder. It is all about your connections and your network.

However, I had forgotten about this gem when growing my online business. I had figured out how to write content, get traffic, and earn money without the help of others (for the most part). There was the occasional guest post or the random email to reach out to someone, but in large part, I was working from home without a lot of interaction with other online entrepreneurs.

Once I realized I wasn’t tapping into what had worked so well for me in recruiting, I decided to get busy at connecting with others like me. My goal was not to see how much I could get from others, but instead how much value could I bring to the relationship.

5 Amazing Benefits of Mastermind Groups for Entrepreneurs

In the matter of a few weeks, I sought out and formed a core group of people to form a mastermind group. It has been one of the best experiences of my life to date. In fact, we hope to have a meetup in the near future even though we are spread out across the country.

1. Encouragement from surrounding yourself around other passionate people

It is hard to build an online business on your own. It is even more difficult when you have no one within driving distance who even understands what you are trying to do. There is no one in your family, in your neighborhood, or even your church. It can become discouraging when you talk to others about what you are doing and they are unable to give counsel because they just don’t get it.

When you find others who are also working on building an online business and platform, it can become incredibly energizing. You hear about things that have worked for them and areas they would avoid if they had the chance to do it over again. Being around other passionate people can give you the permission to really go for it.

2. Guidance in helping you make the right decisions in your business

We all need fresh perspectives. It is often easy for entrepreneurs to just see the possibilities and we often do not pay attention to the little things that make a big difference. Having a fresh set of eyes on your product, service or program can mean the difference between success and failure.

One of the members in our group is launching a free goal setting online video course. He asked members of the mastermind group to give it a trial run. In the matter of minutes a few of us we able to offer a few new ideas that would make a big difference in simplifying the process and increasing the number of sign ups to his list.

3. Fresh ideas about things you have never thought of in your business

Our group meets once a week on a Google Hangout. Every meeting I learn something new. Each member has different strengths and insights that they bring to the table. I often have a long list of new to dos after each call.

4. Accountability factor to push you to get things done now

Let’s face it, growing a blog or an online business can be lonely. One of the disadvantages of owning a portable business is that you can miss out on the social aspect. You often work alone from home or at a coffee shop. You can go an entire day without any meaningful conversation.

Every mastermind meeting we end the call by letting others know what we will have done before the next meeting. None of us want to show up not having completed what we said we’d get done. The single factor alone has caused me to get more done in my online business.

5. Collaboration with members in your group so you can go further faster

Another awesome benefit to a mastermind group is the opportunity to work together. You can guest post on one another’s blog. You can swap podcast interviews or work together on a product launch. There are many ways you can support and work together with one another. The options really are endless.

Question(s): Are you involved in some type of mastermind group? If not, what is keeping you from giving it a try?

 

    Jonathan has been blogging since 2009 and is still in awe that the Creator of the Universe desires to have a relationship with him. His passions include spending time with his kids, reading, March Madness, surprise get-a-way trips with his wife, and watching funny YouTube videos.

    Please note: I reserve the right to delete comments that are offensive or off-topic.

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    2 thoughts on “5 Amazing Benefits of Mastermind Groups for Entrepreneurs

    1. I am in an awesome Mastermind Group and it has absolutely been the best thing I could have ever done. We are now about 6 months in and starting to alter and grow some of our procedures to keep bringing us all to the next level. They truly are an invaluable aspect that all entrepreneurs should take advantage of!

      • Hi Jolene. You are right. I almost think it take a good 6 months to a year before you really begin to reap the benefits of masterminding. I did a simple anonymous survey to the group and the info really helped in getting our group to the next level.