Goals

• Learn why forming a mastermind group can push you to the next level
• Get to know the do's and don'ts for mastermind groups
• Have everything you need to start your own!

Introduction

What a pretentious name. Mastermind group. How could any group that has me in it be worthy of such a title? I think I'll propose a name change in the next session. Something like "How they met this weirdo", "Better not call Stefan" or "Two and a half brains".

Regardless of how we want to call it, what exactly is this "mastermind group" all about?

Boring, official definition: A mastermind group is a collection of like-minded individuals who agree to exchange regularly in the pursuit of a specific goal. It doesn't need to be a shared goal. The only thing the members need to have in common is mutually beneficial knowledge and skills, such that they can support each other.

"Shooting from the hip" definition: Grab a couple of cool friends, talk about your goals and stuff, and keep pushing and supporting each other.

Trumps definition: Make each other great again.

My two friends and I started our mastermind group about 2 years ago. I read an article online (just like you are right now) and suggested it to them. They were crazy enough to try it. We had a few sessions in person before corona hit and kept on going remotely, which worked just as well. And looking back at the progress each of us has made in those 2 years, it's pretty safe to assume we'd do it again. Although if I'm being honest, I still have a hunch they're only stringing me along cause they feel bad for me, but maybe that's just my imposter syndrome speaking. Hmm, might be a good topic for the next session...

Benefits of having a mastermind group

Mastermind group exchanges are hands down among the top 5 routines/habits I've built throughout the past couple of years. It feels like having a whole team working towards your goals, even though you will rarely ever take over each other's tasks. But this kind of support, whether it's encouraging words, feedback, or helpful advice is immensely powerful. Just like the simple act of verbalizing your ambitions as well as the issues and hiccups you encounter along the way. Also, solving them get's so much easier when you have people rooting for you at all times.

The 4 main benefits of forming a mastermind group are:

Supporting each other: Even though there might not be any overlap between each member's goals, listening to each other and brainstorming together will over time put the members into a unique position when it comes to supporting each other: You'll be hard-pressed to find people with a comparably profound understanding when it comes to the path you're on right now. Therefore the kind of constructive feedback and advice you'll be able to give each other is unrivaled.

New perspectives: Even though a mastermind group is typically formed between like-minded individuals, each and every one of them brings their own views and perspectives. You'll make each other aware of certain issues and opportunities that you might have missed if you were working on your own.

Resources: Network, skills, knowledge, whatever it might be: Sharing these resources among your fellow group members easily doubles, triples, or even quadruples them for you (depending on how many members your group has). If one person learns something useful, the whole group benefits.

Accountability: While compassion is obviously important, it's just as crucial to hold each other accountable and not simply letting an "I wasn't feeling like making any progress this week" uncommented during the weekly updates. On the flip side, you won't let each other work yourselves into burnout, and force one another to take proper breaks, vacations and also celebrate your success. And there will be many occasions to celebrate, thanks to the invaluable support you're giving each other.

Tips and tricks

The first few sessions will be awkward. But here's a couple of tips that will help you get the most out of your mastermind group (which you will want to form right after reading this article!):

• Agree on a topic: Especially in the beginning, it's easier to pick a specific topic such as parenting, your current job situation, fitness, health, relationships, etc. You can of course also go as broad as "your entire life", but I'd keep that for a later session, once you got the hang of it and know each other a little better.
• Create a group chat to share resources and updates in between sessions.
• Try weekly meetings in the beginning, and adjust the frequency to your liking.
• I'd recommend a group size of 3-4 people.

Set some rules and clarify details upfront, some examples:

• Do you want to assign a timebox for each member? For instance, if you agree on meeting for 1 hour each Monday evening, try to give each other an equal amount of space by dividing these 60 minutes by the number of members.

• Is it ok to interrupt?
• Do you want to create an agenda for the next meeting?
• Do you want to have a moderator/facilitator for your sessions? This can also be taken over by a member of your group, although it's best to rotate this role each session.
• Do you want to create a protocol/recording?

How to get started

It's much easier to look for potential mastermind group members among your friends and peers. But don't panic if no one is interested or you don't feel like you would be able to have constructive, enriching exchanges with them. Nothing is keeping you from teaming up with complete strangers you found on the internet. Scout out communities of like-minded people online, and ask whether some of them want to start a mastermind group. You'll be surprised by how many of them are just waiting for the offer! While it's harder to start that way, it has the added bonus of connecting people with completely different networks, maybe even creating international communities in the process.

And now, go and start your own mastermind group! Cause each of them has their own dynamic, and while I could give you many more tips and learnings from our mastermind group, it's much more fun to try it for yourself!

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