Mastermind Groups

Also known as “Success Groups”, Mastermind Groups in the business arena bring together people from different industries or professions, but with similar aspirations – usually, to grow their businesses – who support one another in achieving their individual goals.

I am currently in my third Mastermind Group.

The first one included a member who, in hindsight, should not have been in it at all, because she was not a business owner (she was “toying with the idea” of starting a business of her own); when she brought a moral personal dilemma to the group, the group’s cohesion began to crack and in short order it fell apart.

My second Mastermind Group stayed together for more than a year (it’s not unusual for these groups to last for decades!) and was disbanded when one member moved away, one sold her business and another began making plans for selling hers.

Earlier this year, Barb Giamanco proposed the formation of a Mastermind Group, together with Ruth King and BB Webb; I accepted and now, nearly three months later, I am delighted that I did. We meet by telephone once a week, for an hour and a half, and in person once a month, for three hours. The biggest benefits are that we offer solutions to individual business challenges, that we brainstorm ideas and that everyone holds everyone else’s feet to the fire; accountability is a huge factor.

If you are interested in forming a Mastermind Group, do it!