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Home » Strategy

Why you need a Mastermind Group

Next week (Monday 21st June – 23rd June) sees our 2nd pre-launch of our workbook  How to Achieve Your Dreams the Tomato Way. This is a complete step by step guide for entrepreneurs wanting to get big results – quickly.  It features over 13 lessons with worksheets and insights from Lady Gaga, to Simon Cowell.

In this post I wanted to share with you some of the insights from the Workbook which you can apply to your business and accelerate your results.

With the World Cup currently going on in South Africa, I thought I’d illustrate this post with a football analogy. In the picture at the top of this post you’ll notice a football (soccer!) team scoring a goal. Individually each player is very talented, but together they form a team.

So, what does that teach us for business?

Mastermind groups

Basically, what it means is that whilst you may be strong as an individual you need a group around you to support you and develop you.   What this means is that you need a Mastermind Group.

A Mastermind Group, is a group of individuals who come together (either physically or virtually by Skype, email, chat rooms etc) regularly to solve common problems.

In forming the Mastermind Group you need to think about what you can offer the group and you need to make sure that you work damn hard in helping the group with their individual problems or issues.

If you’re a ‘one man band’ operation what you miss is what the CEO’s of big corporations have is a Board of Directors. The Board of Directors keeps the CEO and the management team accountable. If the CEO says that the business is going to do X by a certain date, they’ll want to know why you didn’t achieve it.

A Mastermind Group can help you be accountable, because if you’re meeting with people regularly it’s very hard to say you’ve not done something.  But as well as keeping you accountable, they will be supportive and offer advice around any problems you’re facing.

Some of the other advantages of having a Mastermind Group include:

  • Getting an opinion from the others in the group about the merrits of your ideas
  • Getting answers to your questions based on other people’s experiences
  • Source of ideas listening to and talking to others may give you ideas about which you may apply to your business

The more often the group meets the bigger the results will be. The group should meet at least every fortnight, but preferably every week.

How to get involved in a Mastermind Group

Form your own: this is by far the easiest way. Think about the people who can help you with your business and ask them. Start with friends or people you know with business experience and ask them.

Facebook or Linkedin: you could form a group on either Linkedin or Facebook or even post a message out to your contact list asking them if they want to get involved.

Meetup: you could use meetup.com to form a virtual group by advertising for people with shared interests or join in one which already exists.

Whatever you business. Whether it’s online or offline, a start up or an established business. A mastermind group is absolutely vital to grow your business quickly and effectively.

You can learn more about accelerating your business performance from How to Achieve Your Goals the Tomato Way, which will be available to purchase from Monday 21st June (6am UK time) and will close on Wednesday 23rd June at midnight PST.

To find out more register below or visit the site on Monday to purchase the Workbook.

6 Comments »

  • John Soares said:

    Matthew, I’m a solo guy who’s been interested in getting into a good mastermind group for a while.

    Currently I’m checking out local people in the Mount Shasta area, which has a surprising amount of talent given the rural population.

    I’d love it if, in a future post, you could share how to make a mastermind group function properly and how to get the right people in it.

  • Matthew Needham said:

    John, thanks for your comment. Check back on the blog on Tuesday and I’ll answer your question!

  • John Soares said:

    I’ll be waiting…

  • Karen said:

    Hi Matthew,

    I think this is a very important topic as having a supportive group around you will push you to succeed than going it alone. The blogosphere is too big to be an island and not only will the mastermind share knowledge, tips and tricks, provide support, networking, etc. they can also let you know when you’re on the wrong path. It’s so easy to fall into the trap of our own belief system, and often when we bring our ideas to the mastermind group, they can offer alternative ways that we haven’t thought of.

    I also think it’s important not to limit the group to people who think like you, talk like you, have the same experiences as you. You want it to be diverse so that you are exposed to more ideas and experiences.

    Karen

  • Matthew Needham said:

    Hello Karen,
    thanks for the comment. You’re absolutely right, you can’t be an island if you want to be successful.

    Also your comments on having the ‘yes’ people are very valid. In fact the more varied the group, the better the result.

    Thanks, Matthew

  • The Blogging Puzzle. | aaronsblogging.com said:

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