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Welcome! In this episode, we are talking about Mastermind Groups and how the small business owner can use this powerful strategy.
In Forbes magazine, Stephanie Burns defines a Mastermind Group as “a group of smart people who meet monthly, weekly, or even daily to tackle challenges and problems they face in their small businesses.” I first heard of this concept in Napoleon Hill’s book, Think and Grow Rich. I have been part of a MM Group and have accomplished more in the last eight months than I ever thought possible, due to the connections and support I receive from my group. A MM Group can work the same for you!
I want to share Five Tips about Mastermind Groups that have worked for me:
- Be highly selective about who is in your group. It should be 3-5 people who are passionate and driven.
- Be consistent with the meeting times and agenda. Make it the same day and time if possible. My group uses Skype and texting apps for communication and immediate feedback.
- Select members of different professions. They shouldn’t ALL be clinicians, but people with different skills set so strengths and weaknesses can balance each other. Where do I get these people? Tune in to find out!
- Select members at different stages in their business journey. Make sure there is someone slightly ahead of you and someone behind you, so everyone has the chance to teach others.
- Realize that the work of a Mastermind Group really starts at the END of each week’s session. That’s the time to set goals. Check out STC podcast session 34 with Tony Woodall (about Goal setting) for awesome tips!
What will a Mastermind Group do for you? It will accelerate your business journey like no other endeavor. It will help you build relationships and connections and help you tap into your own strengths and weaknesses. Working in private practice can be isolating; try creating a MM Group to enhance your sense of connection with others.
If you are interested in checking out my new course, teaching you how to start a podcast for your practice, you can find it HERE