So How Do You Know if Your Mastermind Group is World Class?
Great Business Mastermind Groups deliver quantifiable value for member companies, to be certain. It is often the qualitative value that becomes life-changing for business executives involved. That qualitative value can be measured by the following outcomes:
Continual Member Growth
By whatever metric assigned, all member companies are constantly moving toward the achievement of their purpose in the group, be it business growth in sales, developing a scalable model, or international expansion. Purposes don’t have to be financial, but this is often a measurement that is easy to keep score of an a common expected outcome for small business participants.
Mastermind Group members must be totally committed to their purpose for joining and the collective purpose of the group. One hallmark of a mature, high-performing Mastermind Group is a high level of attendance at all group meetings and training events. As we discussed in an earlier report, commitment can also be seen in the level of active participation in the positive solutions for the challenges faced by other companies in the Mastermind Group. Groups that rally around each other, drawing out and solving member problems, helping others with goal setting and attainment, celebrating successes and that don’t hesitate to take a poor performing member to task demonstrate great Masterminding proficiency.
Members who aren’t growing or performing as expected are held to task by the policing that occurs within a healthy group. This helps member success and, ultimately, weeds out members who are not committed. Level of commitment will be obvious as defined above. Accountable Mastermind Groups expect results from other members and are displeased when they don’t occur. They set up corrective action periods to help drifting members rebound and get on track, and when necessary, will remove members who do not show signs of the commitment demanded by the Mastermind Group.
The greatest Business Mastermind Alliances coalesce as a group and move beyond where they were upon inception; they take it to another level. That is a combination of the individual transcendence of each member as it continually achieves its goals, AND the group itself becoming more than just a collection of individual businesses but a united entity that has an identity, voice, and makes a contribution. The United States collectively is a greater entity than the sum of its individual states, and great companies have an identity making them far better than a collection of individual divisions and departments. Group transcendence is measurable by the output of a Mastermind Group that stands alone as a value brought upon by the group as a whole such as charitable foundations or group knowledge databases that can be distributed and improve the condition of other businesses that may not be a part of the Mastermind Group.
As the group matures, the relationships between members deepen beyond business peers to personal, trusted advisors, facilitating the sharing of more important issues for each member that bridge personal and professional life, and strengthening the group in the process. This relationship deepening is a necessary growth that occurs within a Mastermind Group and usually occurs at a different pace among groups as determined by their individual memberships. Groups that don’t develop deeper relationships over time tend to stagnate and eventually disband, as the low-lying business improvement fruit has been picked. Further success comes from searching deeper strategically and often personally within members in order to generate meaningful growth.
Measuring Your Mastermind Group Level of Greatness
If you’re in a Mastermind Group, look for the elements outlined here to gage how effective your current group is. If individual members are continually growing, committed, held accountable, and if the deepening relationships between the members allow for a collective transcendence into something greater, you can feel confident and proud that you are part of something special.
Post your Mastermind Group successes or tips below!