My client (I’ll call her Betsy) joined a mastermind group for all the right reasons: the network, the advice, a tight-knit community of like-minded women working toward similar goals, and open-minded people to bounce business ideas off of.
Betsy brought to her mastermind group the copy for a new offer she and I pulled together during her previous coaching session. She was looking for some feedback from her peers on the offer and the copy.
Much to both of our surprise, she received some pretty harsh feedback.
But it wasn’t the criticism itself that startled me; they had some points that were quite valid. What concerned me was that some of the group’s strongest feedback went directly against what I know works — based both on my own business and the work I’ve done personally with over a hundred other business owners.
So I got curious. “How many of the women in your mastermind group have created financially successful businesses?” I asked Betsy.
“None.” she replied.
How a Mastermind Can Hold You Back
Mastermind groups are an amazing way to get support and ideas and learn from others. But as a new entrepreneur, you must remember where the advice is coming from.
How great could someone’s business advice be if they haven’t created a successful business?
I’m not saying that you shouldn’t join a mastermind group or that someone’s input isn’t valuable if they aren’t making millions. I’m simply saying that you need to take into consideration where the advice came from before you let it direct the big decisions in your business.
I’ve even been caught in this trap — twice.
My Mastermind Blunders
The first time I made a mastermind mistake was when I was a brand new coach. I joined a group of fellow coaches. None of us were making money in business, but we decided to band together and help one another.
Although the camaraderie was fantastic, the results were nonexistent. None of us knew what we were doing or how to get our businesses off the ground. As a result, nothing happened, and we got nowhere. (It was pretty sad, actually.)
The second time I got stuck was pretty recent. My current mastermind group is amazing, and we’ve helped one another reach great success in our businesses. But when we were scheming our next leaps, we came up empty on ideas for one another. We knew how to reach the level we’ve achieved, but we didn’t know how to take it much further (without simply working harder, which we weren’t willing to do!). Simply put, we got stuck.
Getting Out of the Mastermind Trap
So what do you do when you’re in a great group but they’re not the ones who can help you get out of your current scenario?
Do exactly what I did both times: reach out for help.
Get out of the “group think” by getting new input and information.
Find a mentor. Hire a coach. Take a new program.
Even better, have everyone go out and learn something new and bring it back to the group. That’s definitely going to get your group grooving with fresh ideas.
I Really Do Love Mastermind Groups
To be clear, this post isn’t telling you to quit your mastermind group. I love mastermind groups and think they’re one of the best ways to keep your energy and momentum up. Those who work in groups have much greater success than those who work alone.
However, as you’re masterminding, consider where the advice is coming from when you take it.
And most importantly, keep learning about business. That’s how you’re guaranteed to keep moving forward, reaching for your dreams. You’ll be amazed at how far fresh input can take you.
It’s Your Turn
Now I want to hear from you! Tell me…
Have you been a part of a mastermind group? How was it?
Can you relate to the experiences I’ve mentioned above?
How do you keep yourself moving forward in business?
As always, I can’t wait to hear your stories and thoughts in the comments below!
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