The Benefit of Mastermind Groups -
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The Benefit of Mastermind Groups
8 February 2013

Are you familiar with the term “mastermind group?” You may hear it called other things, but basically, it’s a group of people who are closely aligned to your business’ success and growth. These are people you meet with on a regular basis, so you can contribute to each others’ success.

A mastermind group can be built around a certain industry or niche, like residential real estate, which includes a Realtor, a mortgage broker, an attorney, a handyman, and anyone else who might be related to that specific niche.

The group could be built around a certain type of people, like small business owners or marketing directors. People who want to share new information and ideas with each other, so that they can take it back to their own jobs and do them better.

Or it can even be based on geography, like all the retail businesses in a particular neighborhood. While some of them may compete, they instead focus on the general health and prosperity of the neighborhood, and share ideas on how to run their businesses better.

The idea is to find people who share a common business goal and can work together without competing. They come together once a week or once a month to share knowledge, share ideas, and even share leads with each other.

The Realtor can refer new clients to the mortgage broker. The marketing directors can bounce ideas off each other, and give advice. A small theater and a restaurant can team up to sell special dinner-and-a-show packages.

Whatever you do with your mastermind group, leave yourself open to the possibility that some very creative and beneficial ideas can grow out of it.


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