What I’ve Learned From My Mastermind Group

Building a business over the last 20+ years, has allowed me to learn and grow from amazing opportunities, plenty of hard work, and all the mistakes and mishaps along the way - which we all know is where the real learning comes into play. I've mostly kept my head to the grindstone, working solo for years until I grew to a place where I could take on a small staff. But even with that, there were times when I felt isolated as a creative female entrepreneur - especially working in the digital space, where we tend to feel connected to others, but often times, truly aren't. 

For years I was hearing more and more about the great results other entrepreneurs had been getting by joining a mastermind group. Mostly these were really high level players with annual revenue in the tens, if not hundreds of millions, and yet, they still felt it was incredibly beneficial to belong to a group of like minded peers. As they say, iron sharpens iron.

So after much thought and exploration of other peer advisory groups, I decided to create and facilitate my own private mastermind group and invite a small group of female entrepreneurs working in a variety of creative fields to join. We’ve now been meeting once a week via Zoom and it has been as transforming as I had hoped it would be, especially in the face of how the current global pandemic is affecting our businesses. I thought I’d share with you some of the things I’ve learned from the incredible women in the group - Laurie Furber, Jeanne Oliver, Alexis Garrett, and Ginny Macdonald.

Accountability is Highly Motivating

Goal setting (and working towards them) is one of the ways I’ve been able to consistently grow my business. I’ve always been invigorated by a new project and a good to-do list to keep me motivated and on task. But, having a weekly meeting where you actually have to talk about your progress over the previous 7 days, puts things on a whole other level. Knowing that I’ll have to answer to the group has helped me see how before, I could easily push things off to the next week, then the next. Sharing my weekly accountability goal and progress has been an eye opener on forming better habits in this area.

Different Perspectives Offer Clarity

With Covid-19, every member of the group has experienced challenges within their business. It’s been very affirming to have discussions about the specific issues we are facing and get insight and feedback from a variety of perspectives. Sometimes we all agree on the best course of action, and sometimes we’re split. But it gives each member the opportunity to hear several viewpoints before making their decision.

Female Entrepreneurs are Resourceful

It’s been incredible to see the shifts that have been made in light of our recent events. One members forced store closure has opened up new opportunities for growth, client cancellations have spurred action by moving into other business categories, customer offerings have been restructured and some eliminated all together. And through all of these changes, we’ve been able to talk openly about our issues and struggles, share our ideas for moving forward, and gain valuable feedback and encouragement from each other.

Shared Experiences Encourage Growth

The best part about talking with other business owners, is that we all have had different experiences in growing our businesses and handling issues that come our way. Someone may know how to approach email marketing, while another is great at client contracts or marketing strategies. Sharing our experiences helps each of us grow in ways we may not have thought of on our own. Learning how someone does things differently, or better even, is invaluable for a business owner.

We Can All Benefit From Being Coached

I’ve never had a mentor. To be honest, I didn’t know where to begin looking for one. And because of that, I didn’t know what I was missing out on! Even though I’ve been in business for decades, things are always moving - technology, marketing, company structure, and industry related specifics. Having someone to bounce ideas with, and learn from, would have saved me so much time - and money. I now realize how beneficial it has been to invest in my business through spending time with other peers, attending conferences, or by hiring a business coach. I just wish I had done it sooner!

I’d love to know if you’re involved in a mastermind or other business group that helps support your goals - or if you’re still looking for one to join? Maybe I can help connect some of you! I’ve also opened up my calendar for a few private business consulting calls if you’re looking for specific feedback!

PS. I was recently interviewed on The Jeanne Oliver Podcast if you’d like to listen to our conversation!