Manage episode 291571964 series 1281830
What Happens In A Mastermind Group? | Results Mastermind
See 1 of 100 New Videos on this topic & more.
In fact, our research specifically proves 8 Critical Success Factors for small & medium-sized businesses.
Visit www.BestBusinessCoach.ca for more info.
Or https://www.members.bestbusinesscoach.ca/success-research/ for more on the research behind it.
It depends on the mastermind group. There are different types of groups. Often, they'll have things called "hot seats". They allow someone to come and sit and share their problems. Then everyone shares their knowledge to try to solve that person's problems. There is a curriculum everyone follows. This helps them progress and focus their attention. Some do mini-challenges and sprints. Others have access to a guru or a coach. I've been in ones where you get emergency phone calls once a week/month. Another one of the benefits is you get a glimpse behind the scenes. Plus their focused time and attention on YOU. A lot of people will help and give you tips. But to get an expert to dive into your life. Your business and problems, there is a fee attach because you're buying their time. Let's say someone is a millionaire. When they work on their business. They might earn an average of $10,000/hour. And let's say you're just getting started. If you want to consult them, you'll have to pay an opportunity cost. Some token payment to acknowledge their time trade off. It depends on what group you're in and what the purpose is. You want to avoid unfocused groups without any real goals. Ones which are just a social thing and not a mastermind. Make sure there is a baseline curriculum. You want to see feedback loops. So you can see your progress and measure it. You want to avoid playing social games. Some people want it for status, But I think if your purpose is to grow, develop and contribute, It's better to do it in one with meaning. A purpose and focus. Versus something generic.