How to Find an Online Mastermind Group
An entrepreneur’s journey is unique, and sometimes, it’s also lonely. But it doesn’t have to be. Many are the times that you hit a roadblock and have no one to turn to, but not anymore. Joining an online mastermind group is the answer.
A mastermind group allows you to connect with fellow entrepreneurs pursuing similar goals and help you to build a support network that you can look to for guidance.
But how can you find an online mastermind group that is right for you? Before we dive into this question, let’s first look at what it is, and what it can do for you.
What Is a Mastermind Group?
A mastermind group is a peer-to-peer community of like-minded individuals who meet regularly to discuss challenges, provide solutions, and help each other grow.
The idea of a mastermind group comes from the 1937 book Think and Grow Rich. Interestingly, masterminds aren’t restricted to entrepreneurs alone and are quite flexible. They can be small or large groups, and the groups can be diverse or industry-oriented. The sessions can be held in person, or in an online format.
Physical masterminds are area-based and usually happen at least once a month. On the other hand, online masterminds are held using technologies such as Zoom, Skype, Google Hangouts, Facebook groups, and Slack. This allows you to quickly and easily connect with others, even if they’re elsewhere in the world.
6 Key Benefits of Joining an Online Mastermind Group
A mastermind can be immensive beneficial. Ultimately, most people who attend a mastermind experience incredible growth, both as a person and with their business (or if they are an employee, in their current role).
Any mastermind group participant will agree that this growth really comes down to these 6 key benefits: accountability, motivation, networking, sharing knowledge and skills, access to support, and new and different perspectives.
One of the main benefits you will gain from being a part of a mastermind is accountability. Once you join a group, you are making a commitment to yourself and to others that you will show up and give your best in whatever you are doing. Mastermind group members share their journey, aspirations, challenges, and goals in each session. This will make you grind hard because you know that there will be a follow-up at the next meetup, and others will be excited to hear about your progress.
Have you ever woken up on a Monday and felt like all you wanted to do was go back to sleep? Me too. Ha! After devoting your energy to something for a long time, you get emotionally and psychologically drained. Your enthusiasm runs out, even if you’re working on your own business.
So here’s a little secret. Surrounding yourself with people who are passionate about the same thing will give you the energy to give one more push. To have one more go at the challenge you are facing.
Their energy will rub off on you when you are feeling down. What’s even better, is that you can easily talk to your peers, and they will help you focus on what’s really important. They are your much-needed cheer team.
The beauty of online mastermind groups is that they are open to people all over the world. They are not restricted to one city like a physical mastermind group. This means that you have access to people from all over, and you can meet fellow entrepreneurs and share different experiences from around the world. You could meet your next co-founder or client in an online mastermind group. You are also able to share contacts with others and gain new leads.
4. Sharing Knowledge and Skills
Mastermind groups have people with varying levels of expertise. One person could be a guru in their industry, while another could be a beginner. Being in a mastermind helps you to gain valuable knowledge and contextualized solutions to the challenges that your business may be facing. More experienced members can be mentors and share their knowledge with others. However, remember that mastermind exchanges are a two-way street. Others contribute, and you’re also expected to contribute. Be active and participate.
5. Access to Support
Business support isn’t very accessible, especially for young startups and small businesses. It may be expensive and it’s difficult to assess whether a coach is right for you. In contrast, online masterminds give you access to cheap advice and tips to run your business better. You always get useful feedback that you can take action on and discuss again in the next meeting. Mastermind members are also free to interact with each other, and you can always get help from a teammate on how to handle a particularly tricky situation.
6. New and Different Perspectives
Let’s face it. We all think our ideas are superb, and that’s great. But here’s the bitter truth. Acquaintances and friends will clap for us and applaud us even when they think our idea is shit. Fact! Being in a mastermind group will help you receive truthful feedback and not fancy feedback, which leads you nowhere. You will get access to new and different perspectives on what you are working on from people who have been where you are.
How to Get Started With an Online Mastermind Group
Having identified the major benefits that you can reap from an online mastermind, how do you get started? What process can you follow to find an online mastermind group? Here are five easy steps you can follow to find the mastermind that truly fits your needs.
1. Identify Where You Are
Like a GPS system, you need to locate where you are before you take the next step. This is the hardest step since it calls for self-scrutiny and identifying where you fall short. By mapping out the areas you need help with, you will be in a better position to look for masterminds that align with where you are. Here are some pointers you can use to identify your current position:
- Where do you need help?
- What are some of the skills that you need to improve on?
- What would you like to do better?
2. Identify Where You Want to Be
This step is all about turning our current position into a positive one. For example, moving from being inconsistent to being consistent in your work. What do you want to achieve by the end of the mastermind? Where do you want your business and your life to be? What results are you seeking? Having an end in mind will help you have something to look forward to. Identifying the end will lead you to the next step, which is developing goals.
3. Develop Goals that will help you Reach Your Destination
Once you’ve identified your current position and where you’d like to be, its time to come up with relevant goals. Short-term and long-term goals will bring structure and help you actualize your dream. Short-term goals include day to day goals that you need to tick off your list to achieve the long-term goals. Clarifying your goals will help you to identify if prospective masterminds align with what you are trying to achieve or not.
4. Determine Your Expectations From an Online Mastermind
Outline your expectations and make it clear what you want to get from a mastermind. These could be in terms of the value you expect to obtain from the mastermind, how often you meet, who is in it, etc. What are you looking for? Are you looking to expand your network, to sharpen an existing skill that will push your business to the next level, or to meet people whom you can collaborate with on a project? Whatever it is, determine what your expectations are, and then you can move on to the most important step: Finding a community.
5. Join a (Mastermind) Community
Once you know where you are, where you want to be, your goals, and what you want to get out of an online mastermind, its time to actually find one. Your best bet is with entrepreneur communities, like Indie Hackers, or our own Enter Network. These regularly organize online mastermind groups for entrepreneurs.
Find Your Online Mastermind Group Now
However, finding a good online mastermind group is hard — if you simply google for online mastermind, you will find too many groups that don’t have a clear methodology or model that they use.
So if you want to join an online mastermind group quickly, we suggest to take a look at the Enter Network mastermind groups. We are a community of entrepreneurs for entrepreneurs — which means that we know exactly what a mastermind group should look like to get participants the best results.
For instance, Marjolein Böggemann, who participated in Enter Network’s Focus Mastermind, indicated:
After every session, I’ve gained new insights and wanted to take action right away!
And remember, an online mastermind group is one of the many resources that you can use to propel your growth. Two minds are always better than one. All the best in your search, and if you are an entrepreneur looking for a community, join us at one of our masterminds or other events for entrepreneurs.