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Professional Development: Benefits of a Mastermind Group

by Miranda Marquit

I belong to a mastermind group on Skype. We bounce ideas off each other, and those with better knowledge in a specific area can share their expertise, whether it’s giving tips for how to use a useful plug-in, or whether I’m giving tips on how to price out writing tips. From SEO tips to discussions of the latest trends, the Skype mastermind group can be useful — and fun.

Joining a mastermind group can provide you with a way to further develop your career. It’s especially useful if you have your own business, but even if you are trying to climb a more traditional career ladder, a mastermind group can help.

Here are some of the benefits of a mastermind group:

Ideas and Feedback

professional mastermind group

Are you in a mastermind group?

One of the things I love about the mastermind group is that I can turn to the group when I’m stuck. If I need ideas, or if I want feedback, the mastermind group is a place to go. As I developed my blog, I workshopped blog names and ideas with my mastermind group. It’s also common for members of our group to seek help and input on everything from book covers to site re-designs to topics for blog posts.

If you are a professional, your mastermind group can help you come up with ideas for tweaking your career, and give you feedback on your responses to interviews, as well as help you improve in other ways.

Networking

A mastermind group is also great for networking. I’ve met some new people through the mastermind group. The connection of your connection, brought into the group, can be a great asset to you. You can widen the scope of your interactions with the help of a mastermind group — and you can also help others make profitable connections.

A mastermind group can help you create a career network that you can draw on down the road. Whether you are looking for new partnerships for your business (my business partner is the result of a mastermind relationship), or looking for help learning about a new job to help your career strategy, a mastermind group can help.

Sometimes, that outside perspective is just what you need.

Knowledge and Expertise

We can’t know everything. However, a mastermind group can help you benefit from the knowledge and expertise of others. You bring your own knowledge to the group, and share it, while receiving what others can offer. It’s a good way to learn more about subject you are unsure of, whether it’s monetizing your blog or writing an effective resume.

Help Each Other Succeed

A mastermind group can add a level of accountability to your efforts. Members of a mastermind group help each other succeed. You can vote on each other’s social media submissions, help sell members’ books and products, and encourage others to take calculated risks. From effecting introductions to others, to holding other members accountable for their goals, a mastermind group can be a great way to push you to improve.

Don’t Forget to Help Others as Well

While you can derive enormous benefit from a mastermind group, don’t forget that you have something to offer as well. The mastermind group works best when all the members give to the best of their ability. Don’t forget to give as well as get. When this happens, you truly can end up with a result that is greater than the whole.

How to Meet as a Mastermind Group

It’s possible, as with my mastermind group, to be geographically independent. We’re on Skype, and can be reached at anytime. With the Skype group, we’re always on. The “sessions” aren’t as focused. However, it’s extremely useful if you have a quick question, or if you just want to unwind and relax with a good bull session.

However, it’s also possible to meet in person. When you have an in-person mastermind group, it’s possible to focus your efforts much better. Since members may need to travel, it makes sense to create an agenda based around the various strengths of group members, and stick to business for a set period of time. (Don’t forget to have a little fun, too.)

I’ve worked with mastermind groups in person, usually for writing-related items. It’s been helpful to me — just as helpful as the Skype group. No matter how you work with your mastermind group, though, just work with one. You’ll get new ideas, help others, an find support for your projects and career development.

Photo credit: dierk schaefer


Published or updated March 26, 2013.
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{ 5 comments… read them below or add one }

1 Jake Erickson

Wow, I’ve never heard of these before, but they sound super helpful. It’s nice to have people you trust to go to when you have questions or ideas. I really like the idea of having one for accountability too. It’s easy to slack when you’re not being held accountable.

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2 krantcents

Sounds like a good use of technology. In persona networking has its place too, but I like that you have access to an outside group too.

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3 John

I never even knew groups like this existed. I thought I was up to date with technology by asking any difficult questions I had on Yahoo answers (please don’t laugh) but now it seems I am so far behind. Thanks for sharing.

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4 Ryan Guina

I’ve participated in a mastermind group as well, and it can be an incredibly valuable way to share information. The best way, in my opinion, is to have live meetups. But using chat groups, Skype sessions, Google Hangouts, or webinars are all great methods.

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5 Kevin Mercadante

Hi Miranda–As a member of the same mastermind group I completely agree with all that you’ve written. But I’d also like to add the “water cooler affect” to the mix. Most people and employers think of water cooler chats as superfluous and even counter-productive. But it actually serves important social and emotional needs. It’s where the staff come together as a group. We all need that.

Even when you work as a solo entrepreneur, you need a similar place to go and relax and chat to blow off steam and connect with real people on a personal level. The mastermind group fills that role. I’ve sometimes referred to the group as my co-workers, which is true in a real sense. I’ve personally benefitted from your advice on more than a few occasions, and that’s a real confidence builder when you’re flying solo. It’s networking in the truest sense.

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