What are good reasons to join a mastermind? Are they worth the investment? What really is a mastermind?
Napoleon Hill is credited with first coining the term, “mastermind” – defined as the coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.
Sounds beautiful right? Whether you’ve heard the buzz around masterminds but aren’t sure what they’re all about, or whether you’re on the fence about finally joining one, let’s take a look at a few great reasons to join a mastermind.
1) Save Time
Masterminds save you time in a myriad of ways. They help you focus quickly and fail fast. You can test out ideas, get feedback on your plans, and find out the best tools and resources without having to do tons of research.
2) They believe in you.
At some point in your journey you will doubt yourself. You’ll doubt your abilities and your offering. Fear will take over.
In those moments, there is nothing more powerful than being surrounded by people who believe in you.
Your mastermind buddies will believe in you when you need it the most. When you’re ready to quit. When you don’t know why the sales aren’t coming in. Or when you doubt whether or not you can scale.
They’ll have your back and they’ll be the voice of encouragement that keeps you going. Such a beautiful thing.
3) Leapfrog Your Way to Success
Masterminds allow you to learn from what others have done so that you skip the messy learning curve. Our mentality is, “if I can save someone from this hard experimental effort that didn’t work, I want to!”
4) Accountability
Hands down one of our members’ favorite aspects of having access to a mastermind is the accountability. Whether your mastermind has built-in accountability like we do, or you meet an accountability parter through your mastermind, having someone to stay accountable to ensures you get. shit. done.
5) Save Money
Just the other day on a Mastermind call I heard someone say, “oh don’t do that! I tried that and I wasted $2,000.” Masterminds help you save money in lots of ways, the most obvious being when another member can prevent you from spending it in a bad spot.
Other ways they help you save money? Well, all the ways they help you save time, #1 above (because time is money) and by pointing you to the best resources and places to spend your money. Instead of wasting those precious dollars on the wrong tools, programs, courses, coaches, etc. – a mastermind can help you point them in the right direction.
6) Tap Into Collective Wisdom
There’s something magical that happens at mastermind meetings. There’s an energy, a fusion of ideas.
Napoleon Hill stated, “No two minds ever come together without thereby creating a third invisible, intangible force, which may be likened to a third mind.” I think he was right. A mastermind is like having access to a rich pool of knowledge. Instead of growing your business with just one mind (yours), you can grow and scale by tapping into several great minds.
7) You Get Your Own Board of Advisors
The dynamic of a mastermind is that you’re surrounded with people who want to support you. They’re there to support you and you’re there to support them.
At Femworking we have time for each member to ask for help on their specific business, and this hot-seat approach means you get a group of people focused solely on your business during your call-out, or hot seat time. You effectively get your own board of advisors.
Masterminds often lead to genuine, deep friendships, and so you often have access to your mastermind buddies outside of the mastermind session itself.
8) People Who Get It
When you ask your partner to look at your sales page and he looks at you like you’re an alien. Or if you’re tired of asking your dog which font looks best, you need people who GET IT. Masterminds allow you to work with other people who have the same struggles, problems, and experiences as you!
9) Get Feedback and Support
Have you ever worked on something until you can’t even stand to look at it any more? Or maybe you’ve looked at your sales page for so long the words are running together. What will your partner say if you have to ask them about the font one more time?
Masterminds are a great place to get honest, actionable feedback on anything and everything your business. One of our members recently shared a vulnerable story about how valuable it was for her to have the feedback and and support from her FemCircle, as well as some truths about the entrepreneurial journey.
10) Build Partnerships
Whether it’s a joint webinar, in-person event, or affiliate marketing partner, masterminds are great for finding awesome people with whom you can collaborate!
11) Get a Community
Your mastermind should be your biz life tribe. At Femworking we have a private, members-only Facebook group where you can find fellow entrepreneurs 24/7, where you also get access to our entire community of women – which is why we call ourselves a community made up of smaller masterminds. Community is essential for biz growth (and your sanity!)
12) Get (and stay) Focused
At Femworking we spend most of our meeting time doing “callouts” – hot seat sessions where each member of the FemCircle is able to ask for help on a specific topic.
Having to think about what you want to work on helps you determine your current focus areas. Not to mention that your mastermind buddies have your best interest in mind and will kindly and lovingly let you know when you’re going off track. There are times when my mastermind looks at me like, “ehhhhhh no…” They keep me ON TRACK and out of rabbit holes that would be a waste of time.
13) Exclusivity
Get access to a curated community. When you pay to join a mastermind, you’re paying to be around other people who also want to invest in themselves and growing their businesses.
14) New Ideas
It’s invigorating to receive a flood of new ideas during a mastermind session. New, fresh ideas can breathe life into your business (and your bottom line!)
15) Surround Yourself With People Who Are Where You Want to Be
A friend once told me in high school, “there’s always someone who’s ahead of you, and always someone behind you.” Masterminds are great places to learn from those who are ahead of you, and they’re also a great platform to give back to those who aren’t quite where you are yet. They give you an opportunity to give back and help someone below you too.
So What Now?
You could always start and run your own mastermind group. Or you could come check us out for free. We’d love to meet you!