“The Mastermind principle is the coordination of knowledge and effort between two or more people who work towards a definite purpose in a spirit of harmony. No two minds ever come together without thereby creating a third invisible and tangible force, which may be likened to a third mind.”
-Napoleon Hill, Think and Grow Rich
A mastermind is a regular meeting with other business owners to brainstorm collectively. It is not about networking or being surrounded by people who are in the same industry or think exactly like you. It has to be a group of people that are willing to challenge each other, get to the root of the problem, trust each other and understand your vision. The reality is that If you are an entrepreneur it is lonely at the top. But it doesn’t have to be. Here are some reasons why masterminds are worth your time.
- It Helps You to Think Differently and Embrace Change
It is so valuable to have people who can continuously challenge you and get you to think differently. After the last couple of years most of us understand that things change without warning. We have had to adapt to unpredictable circumstances. People are thinking and living differently than they did before and as a result your business has to operate differently, as well. Masterminds are important because you have external people who have different thoughts and ideas about your business. This challenges you to make sure your business is adapting in ways that it needs to so that it can continue to grow. Do you want to be Uber or the taxi cab industry? Do you want to adapt to the current consumer or do you want to stay stuck in the past? There is no business that is indestructible. The sooner you realize that the more likely it will be that your business will last.
- It Gets You Out of Your Comfort Zone
When you own a business it is a very close part of your life and even your identity. So inviting others in can be an uncomfortable experience. But it is so good to get out of your comfort zone. Not only to be poured into but to pour into other business owners. You have valuable ideas that can help others if you put yourself out there and express them. Similarly, people who aren’t in your industry can have valuable input regarding your business IF you are vulnerable enough to allow them in. Share your struggles. You might feel like your struggles are unique to you but they aren’t. Once we realize that we have more similarities than differences, transformative change can happen.
- It Helps to Inspire and Empower You
Masterminds should be a meeting of people who inspire you not bring you down. If you are feeling less than or defeated following a mastermind then you likely aren’t meeting with the right group of people. Because being in a mastermind group requires vulnerability, you need to be surrounded by people who believe in you and what you are doing. Having the ability to connect and receive support from other business owners is invaluable. Being an entrepreneur is such a unique experience and a lot of times your own family can’t fully understand what you are going through. So to have the support of a group of entrepreneurs who understand your triumphs and trials is so beneficial for inspiration and empowerment.
Really we could go on and on about why masterminds are so great! We have seen the MAGIC that can result from mastermind sessions. However, like anything in life, sometimes you have to try a few times to find the right group of people to exchange ideas with. But when you do you WILL benefit from the exchange and what’s beautiful is that others will benefit from your insight as well.