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I’m a wife and momma on the daily and bouquets of flowers from Trader Joes are my love language. I'm a California girl who loves encouraging words. I'm a wanna be cooking show host and you can probably find me watching Bravo with an iced coffee in hand. If you only remember one thing from me, I want it to be this: you are so loved! Learn More
November 12, 2018
What’s a Mastermind? The benefits of joining one and where to get started.
If you’ve been around the creative industry for some time, you’ve probably come in contact with the movement: #communityovercompetition. It’s wonderful. There’s so much power in running a business that revolves around serving and encouraging others, rather than cut throat competition. It’s life-giving, kindness centered and just the right thing to do.
I don’t know how long the term “mastermind” has been around, but the longer you are in the creative industry, the more you will come in contact with it.
I attempted to look up a dictionary description for “Mastermind” or “Mastermind Group”, but there is no definition for the type of Mastermind group that we are discussing today.
In short, a Mastermind is a group of people with like-minded pursuits, in a similar industry who come together in order to learn from one another, grow, and support each other.
A Mastermind group can be made up of people with the same type of business (ex: Wedding Photographers) or just people in a similar industry (creative entrepreneurs).
Below I will discuss the different types of Mastermind groups, the purpose of a group, what to do in a Mastermind, and how to get started.
When it comes to a Mastermind, there are two different ways it can be “run” or organized. The group could be a group of peers who come together to encourage and learn from each other. There is no specific leader and each person holds equal responsibility for the group, scheduling and meetups. In contrast, there are many Mastermind groups that are led by a specific person who would be considered the coach or leader of the group.
Whether you are joining a peer-led or master-led mastermind, there will either be a specific topic/type of participant or no specific topic/type of participant. For example, you could be in a mastermind for product shop owners or a mastermind about owning a business. One is much more specific and the content will only be about owning a product shop. Whereas, the other type will have a range of participants in all different types of industries. In addition, you could be in a mastermind with only wedding photographers and no specific leader. If you haven’t noticed yet, the possibilities are endless!
Finally, the last category of Mastermind groups is the amount of time you will be doing your group. For either peer-led or master-led, you need to have an expectation for how long the group will last. Do you want to be in a group for 6 months? A year? Or maybe you want something short-term. When joining (or starting) a Mastermind, make sure all the participants are aware of the time commitment. And while on the topic of time commitment, there’s one more thing to consider….
Mastermind groups can meet monthly, bi-weekly, quarterly, etc. There’s really no rule here. Weekly would probably be too much as most people don’t have that type of time.
I touched on it briefly above, but there can be all sorts of “purposes” behind a Mastermind. Overall, the purpose is to come together with a small group of people (5-10) in order to grow your business, support one another, gain feedback and insight.
Beyond that, there can be specific topics you cover or you can simply meet up and just ask questions and check in with one another.
Ultimately, you are joining a mastermind to both learn AND support others. A mastermind is intended to bring people together, because we all know: “many hands make light work.” When you have input and collaboration in your business, you will be able to grow faster, smarter and support others in the process.
The format of a mastermind can be determined by the leader or the collective group. There is no perfect way to do this. You can have an organized type of meeting where everyone has 15 minutes to talk about where their business is at. Or you can have casual conversation and just talk about business life. You can pick certain topics for each meeting and discuss those. Or you can give one or two people “the floor” for each meeting. This means they would have a long period of time to share about their business, what’s going right, what they’re working on and get feedback. There’s endless options here! Ultimately, you want to make sure there is time set aside to give each person feedback and actionable steps for business growth. Some Mastermind groups meet up from time to time. You can have a yearly meetup to just spend time together in person talking about business and life.
Maybe you’re ready to join a Mastermind but don’t know how. I am a full believer in creating what you don’t have and making it happen. So, if you’re ready to join a Mastermind, why don’t you join mine? I’m starting a 2019 Mastermind for Wedding industry business owners!
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