The Purpose of a Mastermind Group

I am thrilled to be kicking off my new Mastermind Group this week! Right when my kids are returning to school and establishing their new routines, a group of powerful mompreneurs and I will start our own new routine to help us all grow and be successful.

I created the Mom Biz Mastery Mastermind Group to give successful mom entrepreneurs a dedicated group of their peers who can help brainstorm, inspire and support each other. But what really goes on in a Mastermind Group?

Karyn Greenstreet, a self-employment expert and leader of multiple Mastermind Groups, describes a Mastermind this way:

In a Mastermind Group, the agenda belongs to the group, and each person’s participation is key. Your peers give you feedback, help you brainstorm new possibilities, and set up accountability structures that keep you focused and on track. You will create a community of supportive colleagues who will brainstorm together to move the group to new heights.

You’ll gain tremendous insights, which can improve your business and personal life. Your Mastermind Group is like having an objective board of directors.

Most of the mompreneurs I coach tell me how isolated they are from their peers, that they have very little contact with a community of people who understand them and can give them advice and clear feedback. The Mom Biz Mastery Group will create a space for each of the members to give and receive support from all the others. Imagine a whole team of people who understand your goals, your dreams and your challenges. They listen to you share what you’re trying to accomplish each week. They ask questions, give you their thoughts, and follow up with you the next week to see if you did what you said you would. And you do the same for them, sharing your insight, your best practices, your experience.

I believe mompreneurs need a lot of support from people who are either on their level, slightly above them or just behind them to be successful in their endeavors in motherhood and in running a business. Being part of a Mastermind Group can provide just that.

Check back tomorrow when I discuss what you can expect to get from a Mastermind Group. And if you are (or have been) part of a Mastermind Group, I’d love for you to share your experiences here. What did you accomplish by being part of your group? What sort of rules and guidelines did your group have? What was the most valuable thing you gained from your Mastermind Group?

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  1. Well, this is timely Lara…I’m kicking off a new mastermind group tomorrow! Just confirmed our 5th and final member 15 minutes ago :-).
    Found your article thru tweet by @meetandgrowrich Bill is a great guy! He was a guest speaker on my BlogTalkRadio show “Campfire Mastermind”…would you like to be a guest speaker some time?
    The “mompreneur” focus of you mastermind sounds pretty cool! Good luck with it.
    I’m currently in one other mastermind.
    Mtn Jim

  2. Hey there, Jim! Thanks for the connection and kind words. I would love to be
    a guest on your radio show. Let’s talk sometime soon. Always fun to
    collaborate and share with a like-minded friend.

  3. Hi Lara,

    What a great blog I also found you via @meetandgrowrich

    I’m also starting a mastermind group in October 2010 UK for female solo business owners and entrepreneur in their 1st – 2nd year of business.

    I’ve been part of a small mastermind group for the last year for me the main benefit has been developing a circle of trust with my peers.

    A team I can ask direct questions to and get an honest answer.

    My new group has a very clear structure as recommended. by Karyn Greenstreet and I will act as the facilitator.

    I look forward to readying future blog posts!

    Warm regards
    Wendy Kier

  4. Wendy,

    Thanks for your comments. I love what you said about having a “circle of
    trust” with your peers. I have found the same to be true of my mastermind
    partners. Now that I have my “personal board of advisers” to turn to, I
    don’t even think of making decisions without consulting them. Best wishes to
    you with your mastermind group next month! (Now I’m off to go find
    @meetandgrowrich 😉