Thinking About Starting a Business Mastermind?
Business masterminds, whether free or paid, are a powerful way to grow your business. In fact, if you'd like to start your own business mastermind you'll love how we can help you - scroll to the bottom of the post to find out more.
Business masterminds don't have to be in-person, they can be virtual or a combination of both! In this post we're going to explore how running a business mastermind will be beneficial for both you and your business.
Gain access to other expert advice
When you run a business mastermind, your members are unbiased. They are committed to the mastermind, and they share their thoughts openly in the group. This means your expert advice is genuine, from the heart, and without bias. Your mastermind members have no agenda other than your success.
Remember, a mastermind isn't meant to replace the advice of an accountant, lawyer, or other professional services.
Build strong relationships
As your business mastermind grows, you'll find that you are building great relationships with your mastermind participants. You know their struggles, hopes and dreams, they know yours. This cements the foundation for a great relationship.
The path to success starts with connecting with other business owners and fellow professionals.
Get new ideas for your business
Business mastermind participants get straight to the point and they see right through your blind spots. If you're missing something in your business they'll be the first to tell you. You'll be the sounding board for their ideas and your feedback will be welcomed. Many business mastermind leaders love how their creativity is sparked, and how well they get to know their community.
Running a mastermind is one of the best ways to get out of your head and make the magic happen.
You'll also learn a tremendous amount as a mastermind group leader. You'll find it's great for your personal development, as you can see from the skills required.
5 Skills You Need to Run a Mastermind:
- Praise generously. Research shows that praise is a powerful motivator, more powerful than money. To run a successful mastermind you need to learn to give and receive praise.
- Giving your masterminders a label they can live up to also benefits them. When you label a participant as "well-motivated", they want to live up to that positive label. In marketing psychology, this is known as the Pygmalion Effect.
- Learn to set boundaries. When you're masterminding, you're using up a lot of mental energy. You will need to be able to set your boundaries or develop this skill.
- Ask questions and stop saying "Great Question" when someone asks a question. Often this is a verbal tick that you say to give yourself more time to think. It's okay to pause, catch your thoughts and then respond. Every question is a good one!
- The ability to challenge your participant's goals. Research indicates that when you set bigger goals you feel more satisfied, even if you don't achieve them. Cho and her co-author and Gita Venkataramani Johar said "The moral of the story is don't sell yourself short. Aim high."
Decide You're going to be Brilliant at This
Gary Macpherson researched how children would learn musical instruments. He discovered that when a child thought they were going to be brilliant at playing the instrument, they became brilliant. Just like the positive labelling mentioned earlier, telling yourself you will be brilliant is training yourself to be brilliant at running a business mastermind!
Now You've Decided You Will Run a Brilliant Business Mastermind...
We'd love to help you out. Here at Content Sparks we create incredible, professional white label courses. This means you can teach yourself first using the materials, start your own brilliant business mastermind, and then teach that material to others! Yes, that's right. When you invest in Create Your Profitable Business Mastermind, you can generate two additional revenue streams!
Take a look at what the program consists of here:
Create Your Profitable Business Mastermind
Teach Yourself. Then teach your audience.