You may have heard the term “mastermind” before, but do you really know what it means?
A mastermind is created when several minds come together — and the sum of the whole is greater than the parts.
But the internet marketing world has co-opted the term for its own uses. Now, more often than not, when you see somebody talking about a “mastermind,” it’s something they want to sell you — a group coaching program that you pay thousands (or even tens of thousands) of dollars to be a part of, led by a single coach.
But that’s NOT what the term started out to mean! In fact, historically, one of the first masterminds was King Arthur and his knights of the round table. That round table wasn’t just a piece of furniture; it was an integral part of the concept of the mastermind, that everyone at the table was equal, and that their opinions held equal weight in the discussion.
I passionately don’t believe that as mastermind should be something that you have to pay some expert tens of thousands of dollars to be part of. Because a real mastermind isn’t about paying for coaching you receive in front of a group; it’s about tapping into the collective genius of others.
We don’t all have piles of money sitting around to invest thousands into coaching, but that doesn’t mean that you should be without the vital feedback and support of others.
Does this sound good to you? Click here to take the “How Could a Mastermind Help You” Quiz to find out the benefits of a mastermind for your biz.
What I want to do is bring masterminds back to their original glory because I’ve personally seen how vital and impactful a great, real mastermind can be in making huge leaps forward with your business. I’m excited that we’ve started offering masterminds as part of Business Class (click here to get on the waiting list), and I want you to understand why a mastermind can be such a game-changer for you and your business.
Here are my top five reasons every woman business owner should belong to a real mastermind:
1. Women Are Pack Animals
I mean, think about it: we don’t even go to the bathroom without a buddy!
But often, we try to build our businesses alone.
I believe that no entrepreneur should try to grow a business alone. Just because you love what you do, doesn’t mean it’s not going to be a lot of hard work. There is undeniable value in having an outside group of individuals providing perspective and on your goals and motivation to bring each others’ success to another level.
Starting your own business can be incredibly isolating, and you find yourself surrounded by people who don’t understand what you’re doing or why you’re doing it.
Because the truth is, there’s nothing like being surrounded by people who just get it.
No, I’m not saying you have to ditch your sister, or your mom, or your bestie just because she doesn’t understand what an email marketing funnel is! But wouldn’t it be amazing to have a group of people you could go to that would understand immediately when you talk about your frustrations with list building, your fears about hiring your first employee, or your elation over an 80% email open rate?
A mastermind can give you that safe, supportive, informative space you’ve been craving.
2. Uplevel quickly
Being part of a mastermind can help you take giant leaps forward, and quickly get a successful business off the ground. It helps shorten the distance from point A to point B by relying on the experience and expertise of your fellow mastermind members. Because to grow rapidly, you have to have people that are there to help you.
For me personally, I joined my first real mastermind (a committed, continuous group not run by a coach) over two years ago. Through it I’ve met some of my best friends, I’ve had amazing breakthroughs, and created hundreds of thousands of dollars of revenue that I don’t think I could have created on my own.
You may have heard of the idea that you are the sum of the five people you spend the most time with, and that phrase actually comes from masterminds. Imagine what you could accomplish if you could uplevel the people you spend time with!
Great leaders and achievers throughout the ages have surrounded themselves with likeminded, trusted advisers who could help them improve their ideas and advance their performance.
This kind of group is the critical element that most entrepreneurs are missing, and it’s what makes a successful business so difficult to achieve.
3. Solve complex problems — better than Google!
A mastermind group supports and collaborates to solve particularly challenging and complex problems that would be impossible for any business owner to solve alone.
Whenever we reach a new stage in our business, we’re faced with a branching path of options: should I take this path, or that one? Should I get a manufacturer for my products? Should I bring in affiliates for my courses? Should I hire someone or do it myself?
You can do all the Googling in the world, but Google isn’t going to be able to tell you what’s best for your unique situation and business.
That’s why a mastermind is better than Google for questions and answers like this.
Your mastermind knows you, they know your business, and very likely, some of them have tried what you’re considering before. They can give you personalized advice to help you make tough decisions and address complex problems.
Plus, you get the benefit of lots of different experiences. One person may have tried something with great results while it didn’t work as well for someone else. Hearing both experiences can be priceless when it comes to making your own decisions.
4. Insights & innovation
I’m passionate that a mastermind should be with people from different industries. Why?
Because a business strategy that’s common practice in one industry might be a complete game changer in another.
But the problem is that most industries are totally self-inclusive. They read the same magazines, they go to the same conventions, and they only study their direct competition. This creates extremely limited thinking that forces you to play small.
By getting out of that sandbox, exposing yourself to other industries, and trying out fresh ideas in a new context, you’re much better positioned to become a breakout. Because you can’t just follow others and expect to become a leader in your field.
5. Create more breakthroughs in your business
The fastest path to success is by creating breakthroughs in your business — but how do you do that? How do you create an atmosphere in which those breakthroughs are possible?
You have to surround yourself with other ambitious business people who are out there making waves and making things happen! The most effective way to launch and grow a game changing business is to become a part of a diverse group that can help you identify the opportunities that are right in front of you.
Because that’s the thing: There are overlooked opportunities all around you. We don’t see them because we’ve become blind to them. But when you are exposed to other industries’ growth strategies through a mastermind, you will be blown away by how easy it is to apply their strategies to your business and vision.
These are some of the powerful reasons I believe every business owner should become a part of a real mastermind — just like the ones that we offer inside of Business Class.
Don’t be fooled into thinking that you have to break the bank to win big with a mastermind; the truth is quite the opposite. Investing your time and energy in a real mastermind could be the best investment you ever make in your business.
If you think you’re ready to make an investment like that in your business, click here to take the “How Could a Mastermind Help You” Quiz to discover the power of a mastermind for your biz!