3 Ways Joining A Mastermind Group Can Grow Your Business
Many business owners spend hours and months running trial and error experiments to achieve a particularly challenging business goal. Maybe they want to grow their business or are struggling with various aspect of the business and they need solutions.
But the result more often than not is that they end up frustrated, feeling alone and without making any real progress.
And of course, there are many alternatives like getting a coach or a consultant but none of these offers the wealth and value that a business mastermind offers. Most business coaches and consultant would recommend that you join a mastermind because of the advantages we would be listing discussing below.
A business mastermind is the most cost-effective and time-efficient way to achieve your personal and business goals regardless of how you define them.
But before I share the 3 practical ways that joining a business mastermind group can benefit you and your business, here is everything you should know about the origin and meaning of a business mastermind group.
What is a Business Mastermind Group?
A business mastermind is a set of business owners who come together with a single aim of helping members grow their businesses.
Napoleon Hill, the renowned author coined the term Mastermind coined in 1925. It was first mentioned in his book “The law of Success” before he expanded on the idea in his next book “Think and Grow Rich.”
According to Napoleon, a mastermind is “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”
Over the years the idea of a mastermind has continued to grow in prominence thanks to the fact that it works.
Why You Should Join A Mastermind
Whether you’re feeling stuck, or you need to achieve the growth of your business, the best place to start is to join a mastermind. Here are 3 reasons why you should join one today:
1. Accountability – One reason for joining a business mastermind for many entrepreneurs is to enjoy peer-to-peer accountability. This is especially a big deal because many entrepreneurs fail to achieve their goals due to distractions and unproductive behaviours.
In a mastermind, members set their personal & business goals and action steps, but more importantly, other members of the group hold them accountable, providing support and advice along the way.
This structure of peer influence is a powerful way to keep the members focused and makes it easier for them to achieve their goals.
2. The Power of Shared Experience – The business mastermind is formed in a way that allows for more peer-to-peer interactions.
The result is that more time is spent sharing experiences, lessons, mistakes and honest feedback. Making every participant of that mastermind group leave smarter than they came. Ideas are analysed from different perspectives, strategies strengthen and business decisions made smarter because as they say two heads are better than one.
The business owner that surrounds his/her self with other business owners or entrepreneurs who are smarter or more successful will no doubt be more likely to achieve his/her goals as a result.
3. Expand Your Network – The thing about joining a mastermind is that it is not a short-term game. Business owners can interact and network with others beyond a single session.
Unlike what happens when networking by attending events, business masterminds make it easier for business owners to collaborate on solutions, form partnerships or share referrals from their network. This wealth of reach and network of well-curated people can be a competitive advantage and would most definitely speed up the growth of the businesses involved.
The advantages of joining a business mastermind grow are enormous, if your business has been struggling to grow, and you feel overwhelmed – it is time you join a business mastermind.
The SME Mastermind Group is made up of motivated entrepreneurs and business owners who meet regularly to discuss ideas, challenges, issues and opportunities.
These groups of like-minded business owners meet regularly to share success stories, talk about challenges, get ideas and guidance, and propel their businesses to earnings levels they can only imagine.
The SME Coach empowers entrepreneurs with training, events and resources, specially designed for purpose-driven small and medium enterprises to grow into sustainable and self-managing businesses, that give their owners the income and freedom to enjoy real financial independence.