Mastermind Groups: Top Ten Reasons to Participate
By: Elizabeth Saigal, Ph.D. CLC
Mastermind groups provide a fabulous forum for business and personal growth. They are a wonderful opportunity to meet with others who resonate with many of your goals. The time is earmarked to exchange current challenges you are facing and possibilities for managing them. It is a safe space to make great new friendships as well as swap ideas, grand plans, and life happenings. My top ten reasons to make it a priority to participate in a mastermind group are:
These meetings are a perfect place to connect with others who have desires akin to yours and similar motivation to improve. They speak your language and will understand the specific challenges of working in the coaching industry. You will appreciate being with people who get you and are holistically orientated. I love being with other people who are enthusiastic about the benefits of coaching and the difference they can make applying it.
You can really provide value for those in your group by sharing what has worked for you. Information embedded in your story: your successes and your areas of expertise will support others on their journey, so don’t be afraid to be a messenger. Share experiences that have inspired you such as, good reads, conference information, credentialing options, or any other coaching or business source of development.
Mastermind groups provide you with the opportunity to lay out your future focus and next steps for developing your practice. Talking about your niche and coaching business can help you refine it further, so share your vision for the type of entrepreneur you want to be. Discussing the ways in which you market and coach, whether current or in development, also makes these practices more concrete. You may even receive some coaching on these topics!
Finding Out More
The primary aim of a coach is to serve their clients the best way they can by being the best coach they can and having the best business model for attracting their ideal client. These aims can be met in many different ways and if is often enlightening to discover how other coaches hone their skills and promote their services. Mastermind exchanges are a great place to learn how others handled specific client situations or personalities. You may discover how colleagues manage issues such as client confidentiality, enrolment, and billing. Or, find out fresh perspectives on coaching one-on-one and in groups, virtually or face to face. Learning how others apply coaching competencies leads to a much deeper and broader understanding so that you, in turn, can make more informed choices.
Mastermind group members advocate for and appreciate each other. They take time to point out the strengths embedded in what you share. They are enthusiastic about the goals you set for your coaching practice and celebrate your successes. They share in your journey and hold a positive space for you to support your momentum and brilliance through good and bad.
Just by sharing with the group you have the opportunity to hear yourself out loud which often leads to realizations. In addition, those in your group can repeat what you say to draw attention to it, reframe things in ways you hadn’t thought about, and call you out when you question your capabilities. They can remind you of when you have already stepped through the boundaries of your previous accomplishments so that you know you can do it again. By participating you will definitely gain greater awareness of your possibilities.
A mastermind group is a great place to share your current business (and personal) challenges. Being an entrepreneur is no small feat and requires stepping into areas that may have you quaking in your boots - anything from coaching certification exams to public speaking to writing to asking for payment. You are not alone. Checking in with others who have similar anxieties and are working to make them a thing of the past is normalizing, nurturing, and empowering.
Over time as you really get to know the other members in your group beyond their elevator pitch to what drives them to do what they do, you will develop strong relationships and a network of business contacts. They will know others in the coaching industry with different niches that may complement or provide an alternative to what you are offering. Your mastermind colleagues also work with many other businesses and individuals to support the work they do as a coach and can provide recommendations for bridge lines, webhosting, venues, payment applications etc.
The strong relationships that you develop may lead to joint ventures. You could refer clients who are looking for specific coaching niches to group members that provide a match. You could also work together with group members to market and offer complimentary services that provide additional value to your clients. This might include conducting interviews, teleconferences, presentations, or coaching retreats.
Most of all, I look forward to the meetings and finding out how my colleagues have developed and what is next for them on their journey.
Mastermind groups are fun and provide a support structure that keeps you motivated as you grow with coaching. Think seriously about joining one or starting your own, and let me know how your participation allows you to serve.
Elizabeth Saigal is an ILCT Certified Life Coach. She offers Life Design Coaching for those intent on connecting with their inner truth and aligning with their intuition to live a life on purpose. You can connect with her and sign up to receive her Free Ten Step Life Design System at www.MySpireCoaching.com.