Mar 4, 2021
Welcome back to this week’s episode of the Scale Your Small Business Podcast with your host, Jillian Flodstrom! Many small business owners are looking to uplevel their practices as they expand by joining Mastermind groups. While these communities are incredibly powerful tools to help you take the next step, it’s important to be intentional about where you spend your money, what groups you join, what they offer, and how you can maximize your experience. Let’s take a look at those questions!
To preface this episode, Jillian is involved with three different mastermind groups that all meet at different intervals, offer different things, and provide different perspectives, all valuable to the growth of business mindsets. Two of her groups meet monthly and one is a weekly group. All of these groups have different sizes, different compositions, and different focuses! While most have shifted to Zoom during COVID, but the value remains. In fact, in some ways, the groups have improved as the groups have been concentrated into those who are hyper-committed to the benefits a mastermind can provide, and it allows for the participants to engage on an even deeper level.
While it can seem intimidating at first, paying for access to a mastermind class is a worthwhile investment. You then have skin in the game--a reason to grow and make the most of your time in the group. In addition, there may be periods where you can join a meeting or two to see if it is a good fit for you and that you’ll get the value that you need. Consider who is in the group, what the topics of the group are, the size, meeting time, and overall vibe.
Mastermind groups are also an incredible opportunity to network and reference (and be referenced).
A major benefit of a mastermind group is the perspectives that are brought to the table. They can offer thoughts, give honest feedback, and spark new ideas. Sometimes, you can be too close to your business to see some crucial changes that you could be making. Bringing in an outside view can give you a holistic approach to growth. The feedback you get from people who may be your friend, but not someone you’ve known forever is incredibly valuable. They can tell you when something is great, but they won’t hold back if something stinks. Getting constant “positive” feedback isn’t always helpful. You can get that on social media. They’ll offer solutions and pathways that can break down hurdles you may be facing.
Being in a mastermind group opens you up to accountability. Setting goals is a massive part of owning, building, and scaling a business of any size. But what happens once you set that goal? Having a group of like-minded individuals meeting with you weekly to check in on your progress is an effective way of staying on top of your checkpoints.
Key Takeaways
- While it can seem intimidating at first, paying for access to a mastermind class is a worthwhile investment. You then have skin in the game--a reason to grow and make the most of your time in the group. In addition, there may be periods where you can join a meeting or two to see if it is a good fit for you and that you’ll get the value that you need.
- Consider who is in the group, what the topics of the group are, the size, meeting time, and overall vibe. The feedback you get from people who may be your friend, but not someone you’ve known forever is incredibly valuable. They can tell you when something is great, but they won’t hold back if something stinks. Getting constant “positive” feedback isn’t always helpful.
- A major benefit of a mastermind group is the perspectives that are brought to the table. They can offer thoughts, give honest feedback, and spark new ideas. Sometimes, you can be too close to your business to see some crucial changes that you could be making. Bringing in an outside view can give you a holistic approach to growth.
- Being in a mastermind group opens you up to accountability. Setting goals is a massive part of owning, building, and scaling a business of any size. But what happens once you set that goal? Having a group of like-minded individuals meeting with you weekly to check in on your progress is an effective way of staying on top of your checkpoints.