Mastermind Group Members: How to Select the Right Members for Your Group
By Karyn Greenstreet
Creating your own mastermind group, whether for your own participation or as a for-profit service that you offer to others, will help you to grow your business. There are many factors that impact the success of your mastermind group, but one of the most important is the selection of the participants. Who do you want to be part of your dream team?
I have been involved with creating and running mastermind groups for 15 years, and I've been teaching my class, Start a Mastermind Group Today for seven years. These are the factors that I feel are most important when selecting the right people to be part of your mastermind group:
- Commitment – No mastermind group will function for long if people are not willing to make a sustained commitment to the group. Commitment comes in two forms: the first type of commitment means showing up for every meeting without excuse, and second type of commitment is to the mastermind group process.
- Balanced Two-Way Sharing – The true benefit of a mastermind group is the brainstorming that happens when one member presents a problem, challenge or decision, and the entire group gets involved with the discussion. The best members are those who are willing to both ask for help and give help. Sometimes you will find members who either want to hog the limelight, or who never ask for help at all. Finding members who will participate in a full and balanced way goes a long way towards making a successful group.
- Follows the Guidelines – Every mastermind group should have written guidelines about what's acceptable behavior. Group members should vote on these guidelines so that everyone is in agreement, and every group member must abide by the guidelines. Remember, you are trying to create a spirit of harmony and trust with your mastermind group; guidelines help to set the boundaries and create a safe place for everyone.
- No Competitors – It is impossible for someone to be open about their problems, or about their great idea, if one of their competitors is listening in. When selecting your mastermind group members, be diligent about the connections between people and separate competitors into different mastermind groups if necessary.
- Similar Success and Experience Levels – One way to guarantee that your mastermind group will fail is having people at different experience levels in it. What ends up happening is the more experienced members mentor the less experienced members, but get no real value for themselves. While being in a mastermind group with people who are more successful than you can be great for you, eventually, the more experienced members quit the group in frustration. Instead, try to find people who have similar levels of experience and success, and if possible, try to find people who have some special expertise that they can bring to the group. If each member brings their expertise to the group, the group wins.
I would not be successful today if it weren't for the mastermind groups that I have been a part of. They're extraordinarily powerful, and the people find support, encouragement and solutions in them. By taking your time when putting together the membership, you'll have a successful and productive group for years to come.
copyright © 2008, by Karyn Greenstreet. All rights reserved.
Speed Up Growth: Start a Mastermind Group
The popularity of mastermind groups is growing as people just like you are creating success through brainstorming with your peers, solving problems, generating creative ideas, designing strong action plans, and holding each other accountable.
Come learn how starting a mastermind group enhances your personal and professional life. And don't forget: You can facilitate mastermind groups for your customers as an added value to them and a revenue stream for you.
You will learn:
- The 11 extraordinary benefits of mastermind groups
- Creative ideas for choosing a niche for your mastermind group
- The optimal number of people for your group (this one may surprise you!)
- Create a successful, enduring group by screening participants and eliminating duds
- Winning agendas for flourishing mastermind group meetings
Get instant access to the Free webinar recording