What is a Mastermind group?
On the third Thursday of every month, I host an online mastermind group for female entrepreneurs in London and in other parts of the world.
If you’ve never heard of masterminding, you may be wondering what on earth it’s all about… Do you need a PhD to mastermind? Are we preparing to go on a game show? Is masterminding like University challenge? Not quite!
Mastermind groups were first introduced in Napoleon Hill’s 1930’s classic – Think and Grow Rich. He explains that if you want to achieve your goals in life, you’ll need to surround yourself with like minded people and forming a mastermind group can be a really good way to do this.
Napoleon Hill describes a mastermind group as a simple way of working with a group of people to gain their advice, support, and build momentum in order to achieve your goals.
After reading the book and hearing a few other people mention the benefits, I started to look for a mastermind group to join. I found a few groups but they weren’t particularly consistent with their meetings and after a few years of searching, I decided to start my own group.
Who is the Mastermind group for?
This mastermind group for female entrepreneurs that would like to:
- Gain new ideas, strategies and fresh perspectives on how to continually improve their business and take it to the next level
- Build accountability into their business and life
- Meet like-minded business women that are ambitious and fiercely determined to achieve their goals
- Have a support system and make new friends on the entrepreneurial journey
So what happens during the Mastermind session?
We meet once a month for online mastermind sessions. We start off with a group chat and a quick check-in to make sure that everyone is good to go. We then split up into groups with 4-5 people in each group. There is a group leader in each group – responsible for time keeping and ensuring that action points are sent at the end of the mastermind session. Each group has a mix of people that are in different stages in their business so that you can learn from people that are at the same stage as you and people that may be further ahead.
The mastermind sessions are relatively structured so that there is focused time for each person in the group. Members get a focused amount of time to share an issue or challenge and then gets solutions, ideas and inspiration from other women in their mastermind group. The challenges brought forward can be a business challenges or a personal challenge that is affecting your business as we know that it can be hard to get your business in the right place if you’re not in the right place. Each session ends with clear action points for each person that has attended and we follow up on the action points when we meet in the following month.
What are the benefits of masterminding?
I’ve been masterminding for the past few years and it has had a profound impact on my approach to entrepreneurship and life in general. Building a business can be challenging in so many ways and it’s important to surround yourself with people who understand the unique challenges of entrepreneurship. I’ve found that I’m a lot less stressed and a lot more focused when I’m surrounded by people that are going through or have been through the same thing.
And on a personal note, having the mastermind group has also helped me avoid burnout and overcome my challenges of loneliness in entrepreneurship. This is something that I often talk about and share with entrepreneurs and the general public. See my comments on masterminding on Natwest’s website.
Thanks to the mastermind, I now have a group of women around me that I call whenever I’m having one of those tough days and I believe that this is really important for all entrepreneurs, no matter what stage you are in your business.
Thinking of joining the Mastermind group?
If you’re a female entrepreneur and you’d like to find out more about the monthly mastermind sessions, get in touch using the online contact form.