Mastermind or Waste of Time – Q&A Series

Today’s Q&A series video lesson is on mastermind groups. Dima asks, “What makes a mastermind group stay strong and everyone participate?”

A mastermind group brings business owners or leaders (from different industries) together to learn from the collective intelligence of the group. To have a successful and strong group, you must:

  1. Care about the people in the group. Don’t just join a mastermind group to monopolize the conversation and find solutions to your problems. Listen and share your wisdom as well.
  2. Poll the group. Ask everyone what they want to learn about or discuss and create an agenda.
  3. Stick to the agenda. Conversations start to wander and you get off topic quickly when you don’t follow an agenda. It’ll save you time to prepare a topical discussion before hand.

Also, you don’t want to get in any mastermind group. Make sure it’s full of people that actually have experience – you want to grow from business leaders that have wisdom and intelligence.

Question: If you’re in a mastermind group, how’s it going? Has the experience been valuable?


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13 thoughts on “Mastermind or Waste of Time – Q&A Series”

  1. A survey is a great idea! Making sure the meetings deliver value to the group is an on-going challenge for any mastermind group. Lack of value usually results in lack of attendance, which reduces value further, and there you are on a downward spiral.

  2. “If I’m the head of the class, then I’m in the wrong class.” Love it!!! That John Maxwell is pretty smart! 😉

    Makes me think about my morning men’s group. We are all about the same age with the similar experiences. Maybe it’s time we invite a sage into the mix??

    1. I keep reminding myself that if I am the smartest person in the room, then I am dumb.

      It makes me feel oh so special for about 10 minutes, then I leave realizing I learned nothing.

      Similar age and experiences can still be valuable though.

  3. Learning from others can be key to personal development. When it comes to finding a MM group, it’s important to differentiate between a those seeking a MM, versus those looking for a networking group with one person from every industry. I’ve found that networking groups lean toward a “what’s in it for me” philosophy. I want to learn from other entrepreneurs and take away something from each meeting. Networking to develop business is great, but I want to share and gain some knowledge. I’ll keep your advice in mind as I seek to find or even start my own MM. Thanks for the great work Chris.

  4. YES! It is TERRIBLE being the one everyone else learns from. It’s lonely and stagnant! I am thrilled to be a part of an online mastermind (and believe me, with podcasting, ebooks and the like, I’m pretty sure everyone knows more than I do) and I am in one with female, service provider entrepreneurs. The key truly is commitment. Because we are so focused on each other’s success, everyone is naturally supported. Oh…and it doesn’t hurt to have an awesome coach, too, Chris. 😉

  5. Thank you Chris for what you do. I found some mastermind groups, but they all try to sell you something versus contribute help to people.

    I understand of what you said to be in mastermind group that has different industries in it to get different ideas from different point of views. But, I am planning to start a mastermind group for manufacturing type industry only (different type of manufacturing of course) so I can learn more about the manufacturing industry. I guess I am open to having other industries to be in the group.

  6. I have been using seminars as my mastermind group. I then added as a way to introduce myself to other’s ideas. I will keep narrowing it down until I feel that someone can benefit from my knowledge as I am a sponge right now. Love your thoughts on everything Chris.

  7. I am looking to get into a group. I don’t know of any that are local for me. I guess that leaves me with 2 options, start one or find one that meeting virtually. Any suggestions for me on this?

  8. Chris, I’m curious if you get together with Dan Miller, Ray Edwards, and Michael Hyatt when you build content. I follow all of you guys, and y’all often have similar content at similar times. That is some good synergy (intended or not.)

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