It can be lonely on this business adventure. And I don’t just mean the physical isolation of running a business on your own every day, which is a challenge in itself, but also the loneliness that comes with making decisions on your own, without someone else to bounce ideas around with.
One thing I’ve discovered, it’s that it’s a heck of a lot easier giving other people advice about their business than it is applying the same logic and reasoning to your own! It’s very difficult to be objective when you’re “in it” every day – you just can’t see the wood for the trees sometimes.
I’ve talked before about the importance of having a mentor, but another great solution is to join a mastermind group.
A mastermind group is designed to help you to get through the challenges of business by having peers that can help, advise and lend their experience on business problems and growing pains.
The idea is that a group of people meet regularly, often monthly or weekly, to discuss the issues they are facing in their business and tackle problems together. The group members lean on each other, provide advice, share connections, and are general support for each other.
I have been part of a mastermind group for over a year now, and it has been a huge factor in my continued progress and growth.
Here are some reasons that I think all business owners should think about joining, or starting, a mastermind group of their own:
Why should you join a mastermind group?
Form lasting business relationships – Members of mastermind groups are invested in helping each other to succeed. Friendships are built out of trust over time, and you will find that these friendships are an invaluable part of your business life.
Advice, reassurance and feedback – Most business owners have come across the same problems as you at one time or another. So when you are faced with an issue or dilemma that you cannot figure out on your own, a mastermind group is the perfect solution for getting advice, or feedback so that you can figure out the solutions to the problems you face.
Satisfaction of helping others – Mastermind groups are a two-way street. When you become a member, you are there not only to get information and advice, but also to provide it too. Helping others will give you a great deal of satisfaction and propel you forward in your own business.
Broaden your business prospects – Although mastermind groups are not primarily used a way of generating more business, if the opportunity arises (as it often does) you may find that you can gain some extra business contacts and generate more business from the information provided to you by other members.
Motivation – Getting involved with inspirational and successful people on a regular basis, will help you to continue to be motivated. Listening to their stories, successes and what they have achieved, can really give you the push to carry on and continue to grow your business.
Become accountable – A mastermind group is a great way to help you become accountable for specific goals that you have set for yourself. By stating your goals to the other members of the group instantly means that you are committed to reaching them.
Become part of a small community – Once you are a member of a mastermind group, you will realise that your group is a kind of community, a close knit group of people who are always there for each other as a listening ear, and to provide friendship in the lonely world of business.
Mastermind groups are an incredible way to meet other like-minded business owners and can do wonders for your business. Being in a mastermind group will not only be effective for the growth of your business, it can also make business more fun!