There is stormy weather coming. The media is full of dire predictions, and we are facing some uncertainty in our economy and political landscape. For the busy business owner, it can be more to worry about. I would like to propose a solution to weathering the storm of uncertainty. Become a part of a group. Not just any group, a thoughtfully curated Mastermind group.
What exactly is a Mastermind group and what do they do?
Mastermind groups consist of like-minded individuals who meet to support each other and hold members accountable. In addition to peer support, the group is a place to brainstorm and generate new ideas. There does not need to be a requirement for a particular industry or size of the business. The members need to have a similar mindset and share the same expectations of the group. A Mastermind group is not the place for a casual observer. Successful groups meet consistently, and all members are contributors.
If you want to go fast, go alone. If you want to go far, go together. — African Proverb
So why would you add one more meeting to your already full calendar? Your Mastermind group serves as your advisors, people you can turn to for advice or as a sounding board. In other words, you don’t have to make every decision on your own. Each member of the group brings their own, unique experience and expertise. Think about what you could learn from someone who has been through a recession. Then think about what you can offer from your own knowledge.
Isn’t Everyone Facing the Same Challenges?
Yes, we are all facing similar economic challenges. However, our diverse backgrounds and experiences give each of us a unique perspective. A fellow member may allow you to see things from a different angle that you had not considered before.
On the flip side, your peers give you a forum to celebrate your wins – something we do not do often enough. As your peers, they understand what it took to get there.
Stormy Times Call for Creativity with Stability
Participating in a Mastermind group will allow you to think bigger! You will be exposed to new ideas, new ways of doing things, and challenged on your own ideas. During uncomfortable times, you will need to make uncomfortable decisions. Your group is there to support you and to push you when needed.
Using outsiders’ perspectives, you will be able to see a bigger picture. This may be finding alternatives sources for goods and materials, or financing. It may lead to new offerings that suit the current times. You can also expect to learn how to make your business more efficient and more profitable, even in a slower economy.
Coping with Change
Changes are happening fast: the economy, technology, employee needs – just to name a few. When you need insights on what is working and what is not, your fellow Masterminds provide a wealth of knowledge. You may discover something that is working in someone else’s area that might work in yours. You may also save yourself time and money on a tactic that will not deliver results for your business.
Do you ever procrastinate when it comes to change? It’s a natural response. Having people who will support you helps you to stay ahead of situations and be more comfortable with taking actions. Sometimes, the best preparation for change is to expect it and not be afraid of what will happen.
Building a Better You
There is ample evidence that being part of a Mastermind group will benefit your business. Being a part of a community has proven benefits to our well-being. Even beyond that, you will have opportunities to grow as a leader by being part of the group. You will also develop your communication and leadership skills as you support and advice your peers.
Your gatherings should infuse you with renewed energy and optimism. The ability to share your concerns can ease anxiety and give you a positive frame of mind. Having the opportunity to discuss your challenges in a safe and supportive environment allows you to face them and deal with them in a calmer manner, as opposed to reacting out of anxiety.
There may be stormy times ahead; however, you and your business can successfully navigate the weather with the help of your Mastermind group. Ready to join a group? Contact me at sandymerritt@actioncoach.com to get started.
Author: Sandy Merritt, Business Coach in Louisville, KY