Creating a Mastermind Group

If you are considering establishing your own MasterMind Group, you probably already have some experience of Masterminding (e.g. been part of a group before) and may have some ideas about how you want it to operate, but we have outlined below some of the steps you will need follow and some of the issues that you should consider.

If you have no previous experience with Mastermind Groups, we strongly recommend that y6ou first consider Joining a Group, or taking part in a Facilitated Group first.

Starting a mastermind group doesn’t have to be difficult… Here are some simple steps :

Pick your Partners

This is the most important (and probably trickiest) step. A mastermind group is only as good as the people in it – so pick your partners with care.  We suggest that you start your group small, with just 2 or 3 other members – probably existing business contacts that you already know, trust and (preferably) like.  Once you have a core group established, you can grow organically, with existing members inviting along other likely candidates.

Ground Rules

It is important that you set some basic ground rules, but we suggest keeping them simple. The purpose of setting rules is not to stifle anyone – but to ensure everyone benefits from the mastermind group. We generally suggest a loose set of rules (call them guidelines if you like) and count on mutual respect of the individuals to keep everyone in line, but you may choose to have a more detailed or structured set of rules if you prefer. Be willing to allow the rules to evolve and change as the group matures.

Meet !!

We suggest establishing regular Mastermind Group get-togethers (our preference is usually fortnightly, but weekly or monthly may suit some groups better) – probably the same day/time, and at the same venue (although it may also be good to move around). There should be a basic agenda, which we suggest keeping pretty simple. It is also a good idea if someone facilitates and takes notes at each meeting. This could be an agreed person or could change each meeting

Evolve

The best Mastermind Groups are dynamic – they evolve and change as the group members needs to change. As their businesses grow and mature, what they can offer and get out of the group will change too. It is important that embers continue to get value out of the group, or it will stagnate and die. Don’t be afraid of changing the rules, altering the agenda, or even “sacking” members who are no longer contributing (if they are not contributing then it is very likely that they are not getting value our of the group either).

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