Liz Strauss at Successful Blog

Thinking, writing, business ideas … You’re only a stranger once.

March 10, 2008

Get the Most Out of Your Network with a Mastermind Group

ME Liz Strauss wrote this at 7:46 am

When Wendy and I had a great conversation not long ago about mastermind groups. She’s been in groups for different purposes and of different configurations. So when I wanted someone to explain the concept is was Wendy I asked to do me the favor. She graciously said she would.

Get the Most Out of Your Network with a Mastermind Group

by Wendy Piersall

I have a close circle of friends here in Chicago that have known me for several years - whenever we get together they like to take credit for eMoms at Home, even though they have never worked for me. I actually totally agree with them - the reason is because this group of friends was my Mastermind Group when I was first started my business.

I wholeheartedly advocate being in Mastermind Groups, and I’ll go so far as to say that yes, eMoms at Home wouldn’t be what it is today if it weren’t for the groups I have learned from along the way.

So What Exactly is a Mastermind Group?

Although Mastermind Groups can take a variety of forms, most function as basically a group that co-mentors each other. Participants will always get the most out of a mastermind group when they put a lot into the mastermind group. I currently participate in a weekly call with Dawud Miracle, Char Polanosky, Edward Mills, Gayla McCord, and Easton Ellsworth. We set up the group with the following ‘ground rules’:

We’ve been conducting our conference calls for about 9 months or so - I think the reason it has worked so well (and continues to work) is because:

I think that last point is really key - we give a lot of ourselves in our calls. I’ve participated in very expensive paid mastermind groups that weren’t half as valuable as this group of friends. I really believe it was because everyone paid money and came to the group expecting to get something, rather than coming together to give to each other.

So, How do I Start a Mastermind Group?

Finding a committed group of individuals isn’t easy, but it’s not hard, either. A few tips:

The blogosphere is a very close community, and filled with some of the most talented and brilliant people I have ever met. I’ve learned a ton from reading all of your blogs - and I’ve learned just as much when I’ve thrown my heart and soul into writing a post that teaches. Great Mastermind Groups work because we teach best what we most need to learn.
–
Wendy Piersall is the Chief eMom at eMoms at Home the business blog network for moms and dads who balance business and life at home beautifully.

Thanks, Wendy!

–ME “Liz” Strauss





Filed under Business Life, Strategy, Successful Blog |




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16 Comments to “Get the Most Out of Your Network with a Mastermind Group”

  1. March 10th, 2008 at 11:03 am
    Solo Business Marketing said

    “I’ve participated in very expensive paid mastermind groups that weren’t half as valuable as this group of friends.”

    I wholeheartedly agree with this statement, as the same is true for me.

    This is a fantastic tutorial to create a mastermind group and lay the groundwork for great camaraderie, feedback, and the development of plans that move you forward on a consistent basis.

    My thanks to you, Wendy, for this enlightenment, and you, Liz, for sharing this with us.

    Shirley

  2. March 10th, 2008 at 12:00 pm
    Monday Motivation :: M.O.M. Gets It Done | eMoms at Home said

    [...] in your niche and form a mastermind group. Wendy wrote a whole guest post at Successful Blog on the benefits of mastermind groups and how to really use them as a part of your own professional developm… I can’t even begin to tell you how much being a part of a mastermind group has boosted my [...]

  3. March 10th, 2008 at 1:31 pm
    Easton Ellsworth said

    Nice summary, Wendy.

    “There are no stupid questions and there are no stupid answers” - I’m sure I’ve tested that one almost to its limit. :)

    I have a feeling dozens of new MM groups are about to spring up in secret corners everywhere.

  4. March 10th, 2008 at 9:53 pm
    Shai Coggins said

    This is a fabulous way to tap your network. Now, off to mull this some more. You made me think of now possibly starting/joining a similar type of group. Thanks for sharing this!

  5. March 10th, 2008 at 11:45 pm
    Wendy Piersall said

    Thanks everyone! Being here at SXSW with Liz made it a little hard to respond in true “Liz” form.

    @ Solo - your kind words are much appreciated!

    @ Easton - HUGZ

    @ Shai - was hoping you would show up with the b5 crowd here. But I do hope you follow through with your idea. My group has made a huge impact on my business and blog(s)!

  6. March 11th, 2008 at 5:31 am
    Bob Younce said

    Liz (and Wendy) -

    Excellent concept. Much like the writers’ workshop sort of thing but geared toward business. I absolutely love it, and will be starting a group soon!

  7. March 11th, 2008 at 7:36 pm
    Karen Putz aka Deaf Mom said

    This makes me realize how valuable my bookclub is– I bounce ideas off of these moms all the time and they give me frank, honest feedback.

  8. March 11th, 2008 at 7:38 pm
    ME Liz Strauss said

    Hi All!
    Wendy is the best to write this one. That’s why she’s the one I went to . . .

    We’re doing masterminds at SOBCon. I can’t wait!

  9. March 12th, 2008 at 8:00 am
    Char said

    Glad to see you back, Liz! Hope you had fun at SxSW. After being a part of a Mastermind group for almost a year (with the amazing people Wendy mentioned), I can honestly say it is one of the best things I have ever done for my business. A few brains are always better than one when working out strategies, troubleshooting and just for support.

  10. March 12th, 2008 at 8:07 am
    ME Liz Strauss said

    Hi Char!
    Thanks for the “welcome home.”

    I know how spectacular your mastermind group has been. Surely much of that is the quality of the people who participate. :)

    I’m so looking forward to watching the mastermind experiences at SOBCon08. New groups, new minds, new problems to solve together. It should be amazing. :)

  11. March 12th, 2008 at 9:51 am
    Bits and Pieces said

    [...] No need to pay for high priced mastermind groups! Gather a few like minded associates and start your own mastermind group. Wendy’s post at Successful Blog lets you know how to do it right. [...]

  12. March 13th, 2008 at 4:22 pm
    Edward Mills said

    Great post Wendy. You’ve nailed it. Sometimes people make Masterminds into some big, complicated thing. They don’t have to be. With a few key guidelines, it’s possible to create a hugely beneficial environment. Love being in the group with you… just in case you didn’t know! ;)

  13. March 14th, 2008 at 7:14 am
    ME Liz Strauss said

    Hey Edward,
    I sure hope you can find a way to join us for the “Super Mastermind” day that is going to be SOBCon08! We’d so love to have you there. :)

  14. March 22nd, 2008 at 8:46 pm
    At the Intersection of Obligation and Opportunity said

    [...] issue really started taking up head space and became a source of distraction. I consulted two of my mastermind friends to talk things [...]

  15. March 28th, 2008 at 6:20 pm
    Edward Mills said

    Hi Liz

    I would LOVE to join you. Unfortunately it doesn’t look like it’s going to happen this year. If things open up here so that I can make it happen, you know I’ll be there with bells on! And either way, I’ll most definitely be thinking about you!

  16. March 29th, 2008 at 12:07 pm
    ME Liz Strauss said

    Hi Edward!
    You would be such a great part of the audience! We’re going to be having such great conversations. I’m hoping you attract the right things to get you with us.

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