June 3rd, 2010 Archive

Go For Masterminding

June 3rd, 2010 by Adaire in Financial Freedom

If given the choice between 1) picking your own brain and racking it for answers to all of the greatest life and business questions you encounter and 2) having other brains to pick, which would you choose? I know what I would choose, the second one. I mean, having confidence in your own ability to decide on what you need to do and run your business properly is great, but admit it, it helps to have someone else corroborate whatever it is you’re thinking. It’s great to have someone support and agree with whatever ideas and plans you may have. What do you know, no man is indeed an island. :)

There’s something to be said about joining a mastermind group. Being able to bounce ideas off like-minded individuals who are as focused and passionate as you is very liberating, not only for the mind but for the soul as well. I know it’s not healthy to rely on affirmation all the time, but hey, it doesn’t hurt to get it every once in a while – but that may be getting beside the point. :)

Even the great masters, experts and leaders had them. Oh, some of them may want to be remembered as single-handedly coming up and creating all the greatness they contributed to society and culture, but ultimately, they had their own sounding boards – be they apprentices, board members or the others in their league of masters.

Source: GettyImages.com

Five Points for Masterminding

A mastermind group opens up plenty of opportunities for self improvement and business growth. It allows for new, possibly great ideas to surface. Ideas and even conclusions that we may be capable of brewing and reaching by ourselves, but having other people focusing on the same thing makes the process faster. This leaves more room for more ideas and further growth. There’s also the undeniable chance of building good business relationships and strengthening networks, since the members of the mastermind group are, or should be, people you believe in and trust.

One Small Business CEO Magazine article from Loren Fogelman entitled 5 Important Reasons a Mastermind Group Accelerates Business Growth gives us five more reasons why joining such a group could help your business grow.

Test ideas with the group before beginning a project

How many times have you gone gung-ho and started on a half-cooked project, only to find out that you miscalculated some elements? Well, all that time, energy and, not to mention, money you wasted could have been prevented if you had only presented your plans to a colleague before you launched.

You may think you know your market well and could provide what they need at the drop of a hat, but you’re not error proof. A good leader has to make fast and hard decisions, but that doesn’t mean you shouldn’t leave a little time and room for feedback and suggestions. This way, you could cover more bases and anticipate and address more issues that may come up in the process before making your project public. It won’t take anything from you to be a little cautious, since we’re talking about precious time and resources here. :)

Accountability

Accountability is one success secret that not everyone has, but being part of a mastermind group brings it out of people. No one wants to fall flat on their face in front of esteemed colleagues now, do they? ☺ Thus, being part of a group instils more responsibility in you. You are able to set and reach your goal successfully, since others depend on you to do so. If it were just you alone, it’s very easy to shrug details and caution out of the way. Not so when you know that other people have also invested their time, effort and energy into a project and are counting on you to give as much as they have, if not more.

Stepping out of the box

Having different points of view and approaches allows you to come up with more remarkable ideas. Since each member of the group deals with things in their own way, you could share with and take some amazing ideas from each other and make them your own. At the same time, having all these unique minds in one place could be fun, so enjoy the process and take as much as you can from every experience. Revel in the skills each member has and hone your own in the process.

Stretching yourself

When alone, you’re limited to what you see and what you know. You develop your own comfort zone. This is good for building self assurance at times, but it closes off your mind to other things and ideas too. It’s good to have a group that could take you out of that comfort zone and allow you to see other parts of the spectrum. Since some of them have been there themselves, they would encourage you and support your aim to try out other things. In stretching your views and opening up to new possibilities, you won’t have to fly blindly, since there will be others to guide you.

Dividing the sorrows and sharing the joys

Failure and setbacks are part of every experience. Being a member of a group means you don’t have to deal with them alone. Your colleagues could give you feedback on what you could have done to prevent the mishap and provide their own solutions. They could present fresh perspectives on the situation, so you won’t have to rack your brain and punish yourself hard. Since there are several of you in the group who give and receive advice, you would also realize that everyone goes through their own problems.

On the other hand, there will be plenty of people to join in the celebration if you achieve success. The more people are in the group, the more reason there will be to celebrate. Thus, giving each one the motivation to push forward and remain positive on their projects. Jealousy and in-fighting would almost always be thrown out the window, since you’re all practically in the same league.

Do you have your own mastermind group? How has being a member changed your outlook towards business and life? Share your experiences with us through the comments section below.

Happy masterminding!
Adaire