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Are you ready to jump into 2021? Looking at all there is left to do in 2020 it might seem early to be talking about next year. Believe it or not, thinking about what your new year is going to look like and the goals you have for 2021 is something that you should be considering right now! Masterminds are a great way to propel you to new heights! Let's go over all the important things that you need to know when you are looking for the mastermind that is perfect for you! 

What Is A Mastermind? 

 

Have you ever heard the expression, “you are the average of the 5 people you surround yourself with”? Well, imagine you're in a group of highly motivated and hardworking individuals. You will uplevel the people you are around and they will stretch you in a very positive way!

Below are some of the many reasons a mastermind is beneficial to you and your business: 

Connection 

Being an entrepreneur can be lonely and sharing big dreams and goals with people who are not entrepreneurs can feel overwhelming and awkward.  Sharing those dreams with people who understand can give you so much more inspiration and power. Especially when something in your business is not working, you have someone to help normalize it. You get reassurance and a new sense of energy. You want to be able to share and be open and vulnerable with your mastermind group. 

Accountability

It's so easy to get sidetracked by all of the day to day needs of the business. You work on the little things and you don’t do the things that actually increase your business and help propel you forward. 

However, when you are in a mastermind, there are people who are expecting you to have new updates for them every week! If you know someone is going to ask about a new product or aspect of your business, you will want to have a good answer! These other like-minded people all push you to move forward. 

Accountability within the peer-led group is also very different from having a 1:1 coach. Coaches are so helpful and can be a great asset, but what if something in your business isn't working? Since your coach is at an elevated level, you might think it's ok if you aren't getting the results you want.  A peer-led mastermind changes the way you think.  You desire to show up with the same tenacity and same level of commitment as the others who are learning and growing at the same level as you. 

Strategy

Strategy in business changes so often.  Every day something new comes up!  Is it possible that you're not seeing the results you want because you're using outdated strategies?  A mastermind will provide the newest strategies for your business every year. The right mastermind will be more than a “one and done” in a year.  Each year will build upon the last.

The biggest difference between 1:1 coaching and masterminds is how you get your strategy. When you hire a 1:1 coach, they will cover whatever you ask them to. If you ask them for social media tips or marketing strategy, that is all they are going to bring up. In a mastermind, you ask the questions that you feel are most pertinent to your business. Someone else may bring up something completely different and it makes you think about how you can incorporate that into your business, as well. 

Also, keep in mind that it doesn't have to be one or the other! You can have a 1:1 coach, but you can also be part of a mastermind for all of the relevant, real-time strategy. Both will have benefits for your business! 

 

Receiving Feedback

Receiving outside feedback on your business is so important. Masterminds are instrumental in getting expert feedback from a large group. A coach only gives their one opinion. A mastermind of 10 people, for example, will provide many different opinions and a broader scope of likes and dislikes. You might even get a unanimous “no” on a project that you wanted to start! This will save you so much time! You'll know what is a good idea and what people truly think.

Networking

The word networking automatically makes you think of business owners passing around their business cards and socializing. There's so much more to networking than that!  Let's say you need a social media manager or a book editor. Your mastermind can suggest or connect you with many possibilities because it allows you to tap into other people's networks.  You save time and feel good about the decision. 

Did anyone of these mastermind benefits seem like the missing piece of your business? Do you need accountability, a network, connection, strategy, or feedback? Even if one of these things is something that you need for your business, you should be in a mastermind! It's worth the investment! 

The question is, what is your intention? What do you want most out of a mastermind? If you know what you want, it will be easier to ask questions while looking for the perfect mastermind. 

Here are some of the questions that will help you while doing your research: 

Will this mastermind stretch me? 

Who are the other members of the group? Who is the facilitator or leader? If you know you can get something from the facilitator and you just want to learn from them, it doesn't matter if you are above or below the other members in the group.  Sometimes, you want a closer match to your peers because you value their opinions and ideas. 

When you think bigger, your actions and your dreams will be bigger- think about the conversation that is going on.

Are there individual hot seats? 

Hot seats or laser coaching can be very helpful when you get the floor and everyone can listen to your ideas and help you work through them. If the format does not have hot seats, you need to think about if it's the right mastermind for you and your business. 

Are you strategizing and sharing goals?

If no one is asking what your goals are or telling you what that accountability looks like, you will never know if you are on the right track.  At the end of my Powerhouse retreats we ask for 7-day, 30-day, and 90-day goals. We record these goals and have a team member follow up to see if their goals were achieved. 

Do I want paid or free?

Both free and paid masterminds are going to be beneficial for you! When looking at free masterminds, you need to understand who is doing the work. There can be a lot of tedious tasks, for example, people don't want to do the scheduling and the other administrative work but want to be in charge and nothing gets done.  If the members don't help out the leader, it will probably dissolve and not work out. With a paid mastermind, you do not have the same problems but it is obviously more expensive. 

Will you get access to outside speakers and guests? 

When it comes to guest speakers, it's good to know the quality of people the mastermind leader has access to.  How connected is this person? We want to build connections and network even outside the group. It is also important to know if you will be able to ask the guests questions. 

What will they do to keep the motivation going?

The more you are doing it, the harder it is to keep the motivation. You start focusing on the bigger tasks in your business and let the mastermind slip off your to-do list. What is the leader doing to keep people involved and engaged? In our Powerhouse program, we do something bigger every 3-4 months, such as a virtual or in-person event.  

How many people are in the mastermind? 

The amount of people in the mastermind group makes a difference. How many people does it have this year compared to last? This tells you how many people you have to bounce ideas off of, how much individual attention you will get, and the overall feel of the group.   

What has been one of the biggest reasons for my success? I am committed to not being the smartest person in the room. I am committed to being in rooms where people are constantly giving feedback and strategy. Masterminds have been a huge part of that. 

A mastermind will be a game-changer for you in 2021! If you want to do some research and look at masterminds, my Powerhouse mastermind is now accepting applications! Before you apply, watch my training called, “The Four Stages Of  A Mastermind”.  It will help you determine if you're ready for a mastermind and which kind is best for you! 

You can find the Powerhouse training and applications when you click here! Make sure to save your seat and get into a mastermind for 2021!