Do you keep hearing all the rage about a current buzzword –  “group masterminds” –  and wondering what all the fuss is about?

Have no fear, because in this post we’ll walk you through what they are and reasons why you should look into joining one!

First, what is a mastermind group?

This concept was first introduced by writer and teacher Napolean Hill, author of “Think and Grow Rich.”  Originally called, Mastermind Alliances, he stated the principle of these peer group mentorships as: “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”

Second, who are they for?

While mastermind groups can be for a group of peers in any field, it most commonly is used in the world of entrepreneurs and small business owners. It is where a group of like-minded individuals with similar goals can come together in a safe space to support each other, share ideas, celebrate achievements, and troubleshoot obstacles.

Is that something that you might be looking for right about now?

If so, then let’s take a look at the reasons why you should join a mastermind group!

1- Gain Clarity for Your Business

Do you ever feel like your brain is just running in circles and not moving forward? *We all raise our hands.* Hey, it’s part of being human right? Wouldn’t it be helpful if you had someone to ask for resources and provide support on your goals?

When you have access to a group of experienced peers to bounce ideas off of, it can really help move your business forward!

Rather than ruminating on concepts and ideas, you have other trusted professionals that provide feedback quickly and efficiently, so you can move on from the brainstorm phase to the implementation phase that much faster.

Once you get clear on what you need to do next for your business, then you can actually go do it!

2- Accountability for Your Goals

One of the most helpful parts of a mastermind group is the accountability that comes with it. In order to grow our business, it’s important that we are accepting responsibility for our actions and holding ourselves to our goals.

With a group of peers, we can hold each other accountable. And if we are struggling in any way with moving forward with those goals, you have cheerleaders! Another way to look at a mastermind group is to think of them as a great support system to cheer you on and help troubleshoot any obstacles that are in the way.

3- Receive Helpful Feedback from Peers

Uhhg. Have you implemented a strategy for a long period of time just to find out afterward that there were better or easier ways to do it?

Wala! We bring you…mastermind groups! When in a mastermind group, chances are that between the collective group, most people will have insight or experience in a strategy you are interested in trying out!

They can tell you the pros and cons, as well as provide resources on how to make it more efficient.

4- Networking and Referrals Galore

In this group, trust will be built and relationships will be established. Through weekly or monthly meetups and an online space for everyone to connect, it is likely that you will gain a connection with these members that is supportive and profound. So, therefore, there will be many ways to expand upon those connections for referrals and further networking opportunities.

For example, say you need your website re-designed? And now, because of the mastermind you joined, you just happen to know, trust, and respect an experienced web designer. Who do you think you are going to reach out to first? Someone from a google search or someone from your mastermind group? Chances are the latter!

Plus, being in a mastermind group is great for word-of-mouth referrals! When one of your mastermind friends hears about someone in need of your service, our bet is that your name is the first thing to come out of their mouth. And as we all know, word-of-mouth referrals are the most effective and cost-efficient type of marketing out there!

5- The Importance of Connection

In a previous post, we have addressed that “studies have shown that CEO’s, entrepreneurs, and remote-workers continue to experience higher levels of loneliness, anxiety, stress, and depression than those who work in traditional offices. Many of those feelings come from carrying the weight of making every decision and making them alone. Beyond that, the majority of those individuals admit that the feelings come from the isolation of working from home without coworkers and not having a sense of community around them.”

We know firsthand how lonely it can be for an entrepreneur. That is the whole reason that we started Haven Collective! And now, with mastermind groups, there are other ways to build connections and fight loneliness among small business owners.

Many find that having a group that focuses on a foundation of trust and support can help make them feel more connected and motivated to do their work and grow their business.

Red Flags to Look Out For

While masterminds can be really beneficial, it’s important to find a good fit for you. Here are some things to consider when finding your fit.

• Remember that a mastermind group should supplement your life and business, not distract from it. If something sounds too extreme, maybe keep looking.

• Be aware of the level of commitment you want to put in and what are levels of commitment others want to put in. If you want to truly build connections and receive great feedback, you’ll want others that join the group to want the same thing.

• Ask how big the mastermind is expected to be? If it is a large group, keep in mind that you might not get as much individual attention. Perhaps not a lot of individual attention is right up your alley! Either way, size of the group will dictate the dynamics and structure of the mastermind.

• Make sure that people get something out of it. Ask for testimonials and feedback from others that have been involved before.

So, what next?

If joining a mastermind sounds like a great next step for you, then it’s time to start looking! Luckily you don’t have to look too hard.

For starters, check out our community at Haven Collective where Collectives (Haven mastermind groups) are included in every level of membership.

What Sets Haven Masterminds Apart

At Haven Collective, we are intentional about the groups we cultivate. We aim to create truly supportive, collaborative groups where every single member will gain something of value.

We also believe in facilitating the conversation and direction of each mastermind group, not dictating it.

We’ve built an online experience for you to grow your skills and your business while you enjoy the community, connection, and collaboration of fellow professionals.

With our Community Membership, you will receive all of the support services listed below from anywhere you’re located.

• Coaching – One-on-One business and marketing coaching sessions that you can schedule monthly for personalized support to reach your goals and elevate your business.

• Collectives – Peer group masterminds meet monthly for each 12-month program. You’ll build connections in a deep, meaningful way with like-minded coworkers all looking to take their businesses to the next level.

• Connection – The foundation of the Haven Community is connection. Every conversation held inside our private member group, during personal and professional development events, and through live Q&A sessions with our founders, adds to the collective. Each new member brings a new variable and takes the awesome to the next level. We shine brighter together.

• Resource Collection – The resource library is stocked with content surrounding business finances, productivity, accountability, navigating uncertainty, meditations, marketing, and more. Every personal and professional development event adds to our growing collection too, so you never miss an ounce of information that could help you grow.

Click here to learn more about how the Community Membership can help support you and your business!

Join the Haven Community Today!

By: April Warner

Resources: Forbes, Entrepreneur.com, Aim to Win