There are many rewards to being in your own business. You have control of your own destiny by deciding what customers you want to work with and what projects you are willing to take and you have the opportunity make money based on your own efforts.
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However, even though you have these benefits it can be lonely, frustrating, and uncertain. When you are running an organization there is no one you can confide in or get objective opinions from for the hard decisions you need to make. Mastermind groups change this status quo!
A mastermind group is a group of non-competing small business owners and is designed exclusively for like-minded, results-driven leaders.
The group gets you to think out-of-the box by introducing new perspectives on your most pressing issues, challenges, and goals. These new perspectives create new opportunities and, as a result, new choices that you weren’t aware of before.
Benefits of a Mastermind Group
Here are 5 reasons to join a mastermind group:
- Create a Network of Business Owners:
Mastermind groups are typically small groups of 6-10 people. Because it is a small group, you become very familiar with your other group member’s businesses and goals. As a result, you create a network of other business owners who become trusted advisors that act as your business advisory board and who look out for your best interests.
- Get Honest and Objective Feedback
Most businesses have similar issues and challenges. What seems like an insurmountable challenge to you has probably been resolved by other business owners. A mastermind group provides you with the forum to leverage the experience of peer business owners who have overcome the same concerns. If the other members have not dealt with your specific issue, the group provides a great brain storming session to assist you with coming up with possible solutions.
- Get Insights, Strategies, and Leadership Development
In order to achieve your goals and grow your business you need to continually develop new ideas for new products and services, as well as new markets to exploit. Mastermind groups provide a great sounding board for these ideas and a way to develop the strategies necessary to accomplish these goals. You also learn from experienced entrepreneurs on how to lead your organization to greatness.
- Be Challenged to Raise the Bar
Your greatest competitor is actually yourself. When you strive to be better each and every day you will reach heights that you never expected. Members of mastermind groups challenge each other to raise the bar on brainstorming ideas, leadership skills, and, dealing with issues head on. This alone will catapult you to success.
- Develop Actionable Strategic Plans
Most small business owners don’t develop a strategic plan for their business. They claim that they know what they want and that they know what needs to get done. Unfortunately, there is no one to hold the business owner accountable for taking the actions necessary to reach his goals. One of the greatest benefits of joining a mastermind group is to be held accountable for your actions. As part of a group you will develop an actionable strategic plan that’s focused and goal oriented and be held accountable to achieving your goals so that you follow through and move your business forward.
As a business leader you are constantly dealing with the multitude of challenges facing you every day. You spend most of your time putting out fires and the rest of the time getting everything else done. When you work so hard IN your business, you don’t have time to work ON your business.
As part of a group, in a few hours a month you will be able to think more clearly, more strategically, and more focused than you ever have before. And as a result, you will be able to make better decisions that will result in the achievement of both your business and personal goals. Join a mastermind group today!
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Question: Do you already belong to a mastermind group? How does it help you? You can share your answer on Facebook, Twitter, or LinkedIn.