It’s midnight, you’re on your third cup of coffee, and you’re still not sure if you’ve gotten that email just right. Entrepreneurship can come some of the highest highs, but there are also those midnight moments. Those moments when you’re doubting just about everything, especially your own abilities. So where do you turn in those moments of doubt?
For many women entrepreneurs, masterminds have become the answer to getting the guidance and support we all crave along this journey.
The term mastermind seems to be pretty trendy right now, but they’ve been around for hundreds of years. The term simply refers to a group of people who come together with the goal to grow and improve themselves. Benjamin Franklin gathered a group together in 1727 with the goal of improving themselves and helping others along the way. In 1925, Napoleon Hill came up with the word mastermind for his book Think and Grow Rich, where he wrote that groups and partnerships with aligned goals were one of the keys to his success.
Benefits of Joining a Mastermind
If you are ready to go bigger in your business and life, a mastermind could be your vehicle to get you there. Firstly, a mastermind can offer you some serious accountability. Once you say your goals out loud and regularly report back on them, it’s a lot harder to give up. A huge benefit for me as a work-at-home mom has been the connections I’ve made. This work can be lonely, so having a group of colleagues who will always be there for me has felt like magic. The group will not only help you break into new networks and give business advice, they will be there for you as a person.
Joining a mastermind will also give you a chance to share your own wisdom. You will have the opportunity to share your own experiences, and experiment with new ones. My greatest takeaway from joining a mastermind is that the only difference between me and the people getting bigger results is that those people move faster. They have an idea, and they act on it without overthinking every detail. Learning that has forced me to take more risks and move faster in my own business, and that has made a huge difference.
What to Look For
While joining a mastermind could be a game changer for you, make sure you find a group that’s actually a good fit. First, take some time to think about what you would like to get out of the experience. If you know that you want to make six figures this year, then seek out a mastermind with members already making that income. A mastermind full of $30,000 earners will not push you to the next level.
Next, think about how you like to be coached, and connect with a mastermind that fits your needs and style. Look for a strong leader who keeps the group motivated and moving forward. Don’t hesitate to ask the leader or coach what kinds of results the mastermind members are achieving since joining; a great leader will be happy to brag about their group.
How to Start Your Own
If you haven’t found the right fit for you, consider starting your own group. Starting your own mastermind will be energizing for you and your business, as well as gain you some serious credibility. Start seeking out friends and colleagues who are already doing what you’d like to do, who are building what you’d like to build. Connect with them and propose the group as a mutually beneficial exercise.
Once you assemble your group, set some expectations for meetings times and mutual goals. Masterminds are powerful because they stretch us, so don’t play it safe here. Trust your group enough to share your big sparkly dream, and support others who do the same.
Find Support
Whether or not you decide to join a mastermind, make sure that you are seeking support on your entrepreneurial journey. We cannot do this without each other, and we certainly can’t grow and upgrade without guidance and support — so dedicate time each week to connect with your fellow entrepreneurs. You’ll be surprised at what a difference it makes to your quality of life and overall success.
As Napoleon Hill said, “No mind is complete by itself. It needs contact and association with other minds to grow and expand.”
Make contact, and keep expanding.
This article originally appeared in our Fall 2019 MONEY Issue. Download for FREE here!
