What to Look for When Finding a Mastermind Group

Joining a mastermind group is not a decision you should make lightly. It’s a big investment–in money, time and heart. Your mastermind sisters turn into your sounding board, your counselors, your business advisors and your shoulders to cry on. It’s an invaluable experience and investment, as long as you do it right.

Finding the right one–the right leader with the right members–means you need to do some work. Just like hiring someone into your business, it requires some research. Committing to the wrong mastermind can be frustrating and it can hold you back from making the growth you want.

Is finding a mastermind on your mind? Here’s how to do it right.

Know what your 6- to 12-month plan looks like

You have to know where you’re going in business so you know what you need. Your needs should focus around the strategic objectives that every business needs at some level (just be sure to focus on one or two–not all of them).

When searching out your mastermind, make sure the leader of the group has proven expertise in the area where you’re focusing. Not sure? Ask her, or ask some of the people she surrounds herself with. Chances are you’re going to join a mastermind that’s led by someone you’ve been following for a while. Someone you know, like and trust.

You don’t want to commit financially to a mastermind with someone you haven’t been following, only to find out that your personalities clash.

What do you want to get out of the mastermind?

Again, this goes back to knowing who the facilitator of the mastermind is. She should have expertise in the area that you’re looking to develop and be able to attract other mastermind members who are looking to get something similar out of the experience.

I even recommend doing some research on potential mastermindees–consume some of their content, talk to them, look at their testimonials. You want to mastermind with other business owners who you know, like and trust too.

What’s the structure of the mastermind?

The structure of the mastermind gets down to the nitty-gritty and this might ebb and flow over the life of the mastermind. Here’s a look at some of the pieces you’ll want to be aware of:

• How often does it meet? The newer the business owner the mastermind is designed for, the more often it will meet. The average is about two times a month with the more junior groups meeting more. Make sure you have the bandwidth to participate fully in the meetings so you’ll get the most out of it. Your fellow mastermind sisters will count on you showing up too, which is part of the commitment.
• What is the role of the facilitator during hot seats? Your mastermind facilitator is not there to act as a coach, but rather to bring the right people together and guide the conversation. The hot seats serve as an idea exchange among all members, not just the coach.
• What does accountability look like in the group? In any mastermind, you’ll talk about ways to grow your business. To do that you need to take action. Find out if there’s a central hub where you’ll be able to check in or if smaller accountability groups will be formed to keep you on track.

Being part of a mastermind group has been life-changing for me. Paired with some good 1:1 coaching, I’ve been able to grow my business faster than I thought possible. The relationships I’ve developed will stay with me through every stage of business moving forward.