A mastermind group is a great place to brainstorm ideas, get feedback, set goals and find accountability so you can actually accomplish things instead of just talking about them. In order to get the most out of the mastermind process, you need to know how to run a mastermind group. Here are a few simple rules to follow.
1. Pick a format
There are many different formats that are used for mastermind groups but most involve sharing challenges and ideas and making commitments.
One proven format is the “hot-seat” format. Each member of the group takes a turn being in the “hot-seat” and sharing challenges and ideas with the group for feedback. At the end of their turn, they make a commitment to the group about 1 thing they will accomplish before the next meeting.
Next, another member of the group takes their turn. Repeat the process until each member has had a turn.
With this format, it’s important to have a timer to make sure everyone gets a turn each meeting.
2. Elect a facilitator
Typically one person will need to be in charge to run the meetings. They may decide to share some of the facilitator/administrator duties with other members such as scheduling, emailing members, setting up the agenda, running the timer and taking notes.
The facilitator will act as the “master of ceremonies” and direct the session, including the introduction, transitions from one member to the next and the wrap up.
3. Meet consistently
Set a schedule that everyone is committed to keeping. Monthly, biweekly, weekly and daily are all popular choices. Decide if you will meet in person, virtually or on the phone.
Meeting on a regular basis is essential for making the mastermind process work to it’s full potential. Use emails, calendar reminders and notifications to keep members punctual and ensure you don’t lose traction on your goals or let down the other members of your group.
4. Use an agenda
Without an agenda, sessions can often turn into social time or, even worse, complaining time.
Having a set agenda will make sure that each member of the group gets a good return on the time they invest. Your format will determine how you set your agenda, but it’s important that you do have one, and stick to it.
5. Don’t interrupt
Collaboration is one of the most valuable elements of a mastermind group, but it can be hard to make sure that everyone’s voice is heard. Be sure to give everyone a chance to contribute.
6. Set goals
Establishing goals and writing them down is one of the most effective ways to improve things. Incorporating goal setting into your mastermind group will help your members get better results.
Establish long term and near term goals and share them with your mastermind group. Make your daily and weekly goals in alignment with your “legacy goals” and is designed to keep your goals in front of you every day.
7. Document contributions
Mastermind groups can result in life changing ideas and decisions. Unfortunately many times the magic is lost in the moment for lack of a good system to document and keep track of it.
Make sure to document and record the challenges, questions, ideas, suggestions, resources, goals, commitments and most importantly the results, so they are not forgotten.
8. Create accountability
One of the most beneficial aspects of a mastermind group is the accountability. Saying that you will do something to people you respect helps motivate you to do that thing because you don’t want to have to tell them you didn’t do it and risk losing their respect.
Group accountability can have an exponential power. Document each member’s goal and display it along with results for all the members to see.
9. Help each other
If every member of the group is committed to helping the others, everyone will succeed.
Find ways to contribute to the success of the group or another member. Sharing your expertise for a few moments can add a lot of value for someone who needs it.
Your group will reciprocate by filling the gaps in your knowledge and providing different perspectives.
10. Use technology
Digital tools like Google Hangouts, Skype, Zoom, Google Calendar, GMail, Online Timer, Google Docs, Google Drive, Dropbox, Evernote and more can make mastermind groups easier to run and produce better results.
We believe that there should be one tool that includes everything needed to run a mastermind group. One tool for scheduling, session management, goal setting, history tracking and enhanced accountability.
That’s why we created Mastermind Manager. Essential tools for session management, brainstorming, goal setting and accountability. Sign up here to be a beta tester for free!