Mastermind Groups: Do They Work?

By Masterminds Groups at April 30, 2010 | 12:53 am | Print

Mastermind groups have been around for years both formally (business development group for example) and informally like the group of parents who meet daily and discuss issues and problem solve at their kid’s bus stop. Mastermind groups are great if your life feels stagnant. Meeting in a group setting can provide support, fresh perspectives, and new energy. Mastermind groups can be started around any topic. They allow people to come together to discuss common issues in business and personal lives, to share solutions, to brainstorm, to help each other reach goals, to celebrate goals with others, to increase knowledge, to receive good feedback, and to leverage the expertise of others who have been there done that.

In the past couple of years I have had the opportunity to “participate” in a couple of “mastermind” groups. Not really mastermind groups but wound up being more like on line forums that tens of thousands of people have successfully participated in if you believed the data provided by one of the people running these groups. The thing with these two groups- I didn’t really consciously, knowingly sign up for either of them. They were “free” for two months because of products that I had purchased.

After two months my credit card was billed for these “free” groups. I felt like this was a very deceptive practice. Apparently in purchasing the products I had bought I had agreed to have my card charged two months after the purchase. I went back and of course in tiny print in a spot that, I, the consumer would most likely not pay much attention to- it said that by purchasing the product I was also agreeing to participate in the paid monthly mastermind group. If any time that I wanted to cancel I would need to contact the company directly via phone. Contacting the company via phone was not as easy as it seemed. It took a couple of weeks to get a response back. I thought I was going to have to contact my credit card company but eventually I was able to resolve the issue.

I am glad that I am the kind of person who checks my credit card statement monthly. I think that a few years ago when the economy was better that some people out there might not have been checking their cards religiously were being charged $47 a month or $9.97 a month or what have you on their cards.

These were groups by definition but not really effective mastermind groups. The problem with these two groups is that they give you just enough information to get you to buy more of their products ankeep stringing people along trying to get the most out of them as possible really is not the intent of a good coach. A good coach sees the relationship with you as a partnership. For the most part, working as a partnership doesn’t mean that you bleed your partner dry.

Effective Groups:

If you are a coach, counselor or therapist you know by training that for groups to be effective really need to be a certain size and are defined by certain characteristics. A really effective mastermind group should look something like the following:

1) Consist of a small group of people, no more than 10 but 6-8 to be most effective. Each person should get 10-15 minutes to talk about their issue or concern. The group should brainstorm possible solutions for you to think over. You should be able to put an action plan in place by the time the meeting is over. Large groups don’t allow for this type of interaction to take place. While larger groups can be effective, they typically have an expert speaker talking about a specific topic with a few moments for questions and answers.

2) The group that you belong to should have specific group rules. These rules include the topics that can be discussed, whether the group is open to new participants or not, whether or not there is a fee associated with participation, if there are speakers who is responsible for obtaining them, the length and time of the meetings, how often they occur, and what each participant’s responsibilities are for participating in the group.

3) You should get the following out of your membership in a mastermind group: time to talk about your successes and your failures, time for the group to help you brainstorm solutions, time to work on your action plan, moral support reaching your goals.

4) You should give the following to your group: honest feedback to participants that is helpful, your time and commitment- be present for the meetings; not just physically present but be mindful of the topics of discussion and be there as a full participant, and be committed to the group process.

To Pay or Not to Pay?

Do you have to pay to belong to a mastermind group in order for it to be effective? The answer is no. Often you can find what you are looking for by connecting with people who have similar interests. There are thousands of online forums- both open to the public and via membership only. Before paying to join a group I would suggest you search on line to see if any groups exist that would support your needs. If you live in an area that has a community newsletter- search there as well. Many community newsletters advertise such groups with contact information for those interested in joining or starting new groups.

So, why would you pay to join a group? There is value in paying because your commitment increases to reaching your outcomes increases. You don’t want to pay hundreds or thousands of dollars to not achieve something. Paying increases the stakes and put the pressure on you to achieve. Most people aren’t going to throw their money away and not commit or invest in the group to grow and get what they need. But like anything-buyer beware- know what you are getting before you sign up.

Interested in Starting a Group? Here’s How:

First, determine what kind of group you want to start and what the specific content of the group will be. Next, determine whether or not you want the group to be an open group that anyone can join or a closed group with a specific number and type of membership (moms only, small business owners only, etc.). Keep the group small, around 10 people. Advertise the start up of the group in your local newspaper, at your worksite, at the bus stop, etc. Finally, offer an introductory session to talk about the purpose and the rules of the group.

Personally, I like group work. People in my groups are more focused on their goals. They are outcome oriented, and support each other in reaching and achieving success. They celebrate their wins with each other, motivate each other and create bonds that last long after the groups end creating effective social support networks.

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