Author Topic: Mastermind Group...Does it Help?  (Read 393 times)

Rachel_the_Lark

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Mastermind Group...Does it Help?
« on: October 09, 2017, 08:48:09 AM »
I've been brainstorming and mentally roadmapping ideas for some side hustles and in doing research one tip that keeps coming up is mastermind groups.  An accountability group of sorts, it's about finding people with similar goals and regularly meeting up to share best practices and keep each other motivated to improve.  I've looked around on meetups but the ones I find just seem so...fake.  Like someone who wants to sell coaching things is just trying to collect customers.  The ideal situation would be to work with my own current network and see if there are people there, but I don't know anyone who's really ready to commit to something beyond the usual 9-5.

I'm an introvert by nature, so I know that biases my view on networking in general and expanding my horizons with meeting new people.  So are there any tips and tricks out there for how to better connect with a new level of accountability?  Would it make more sense to just stake some space here in the Journals section and at least take advantage or the comparable financial mentality around here?  Or does in person connections make more of an impact?

jooniFLORisploo

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Re: Mastermind Group...Does it Help?
« Reply #1 on: October 09, 2017, 09:03:09 AM »
I know what you mean about those fake-sounding groups. I think a lot of them are as you suspect: not a mastermind group at all, but rather everyone aiming to sell to each other, and have others refer to them. i.e., Not mastermind but networking.

I've tried a few times to create an actual mastermind local group, but folks just couldn't find times to meetup.

I've found the Journals at least as helpful. I would definitely do that, and have a link from here to there so that people interested in helping you can find you.

The other thing I found super helpful was local business mentoring groups. I received one-on-one mentorship through one for women, and received professional mentorship through a government program.

I also found that I could ask experienced people a couple of questions -casually or over tea or lunch- and they were happy to help me sort out a piece, give some tips, etc.

SeattleCPA

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Re: Mastermind Group...Does it Help?
« Reply #2 on: October 09, 2017, 07:08:22 PM »
When I had my little book publishing company, three of us set up what we called a "knowledge partnership" where we'd regularly meet and share ideas for improving our businesses.

It worked okay but one of the guys bailed almost as soon as we started (a few months in)...

BTW, you might also be able to join a linkedin group that'll do ad hoc delphi method problem solving for you. I'm in one of these for single owner CPA firms and it works remarkably well:

https://evergreensmallbusiness.com/using-the-delphi-method-for-small-business-problem-solving/
My blog Evergreen Small Business
My free downloadable ebook: Thirteen Word Retirement Plan

Rachel_the_Lark

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Re: Mastermind Group...Does it Help?
« Reply #3 on: October 15, 2017, 05:56:28 AM »
Thanks these are helpful ideas.  What I'm starting to realize is I need to get more clarity on my end goals first, and then find the knowledge that aligns with those goals.

Here we go! https://forum.mrmoneymustache.com/journals/larking-around/

SC93

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Re: Mastermind Group...Does it Help?
« Reply #4 on: October 15, 2017, 06:58:02 PM »
Here is what I think..... are you wanting to do side hustles? Then do it. You can read and research and read and research until you can't read and research any longer. Instead of reading and researching how about go make your own experiences and learn from the mistakes? And if you're lucky, you can make some money along the way. Start something by the end of the week. See what happens.... if it fails, take what you learned and start another one within a month. Or.... what if your first one accidentally succeeds? I say accidentally because most of us have had many hustles and side hustles because the first one didn't work. Some people never find one that works for them but they learn along the way.

I think the reason most of these groups don't stay together is because of a few reasons. Maybe the people that dropped out realized what I said above and seen it as wasted time when they could be making money instead of talking about making money. Or, maybe they talked their mind right out of it because it seemed to complicated. Or by the time it came around to actually act on the idea, things changed in their life and they were no longer interested.

clifford4970

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Re: Mastermind Group...Does it Help?
« Reply #5 on: October 16, 2017, 09:24:28 PM »
I've been brainstorming and mentally roadmapping ideas for some side hustles and in doing research one tip that keeps coming up is mastermind groups.  An accountability group of sorts, it's about finding people with similar goals and regularly meeting up to share best practices and keep each other motivated to improve.  I've looked around on meetups but the ones I find just seem so...fake.  Like someone who wants to sell coaching things is just trying to collect customers.  The ideal situation would be to work with my own current network and see if there are people there, but I don't know anyone who's really ready to commit to something beyond the usual 9-5.

I'm an introvert by nature, so I know that biases my view on networking in general and expanding my horizons with meeting new people.  So are there any tips and tricks out there for how to better connect with a new level of accountability?  Would it make more sense to just stake some space here in the Journals section and at least take advantage or the comparable financial mentality around here?  Or does in person connections make more of an impact?

I have heard of quite a few that help . . . where it is not everyone trying to sell each other on what is working for them.
Russell Brunson has one of the best MasterMinds where everyone just wants to share what is working for them.

I am right there with you on trying to get more clarity on my end goal/passion. 

Im telling you though, Russell Brunson puts out pure gold nuggets and gives much away for free.  I believe it is because once people recognize the value he gives away for free, they are willing to pay for more.

He gives away his book for free - http://bit.ly/2eGJenQ