Comments on: Masterminds – Three Must-Have Elements for Success

By: Ellen

Ellen — Mon, 13 Apr 2009 15:47:38 +0000

Thanks Nancy! I totally agree with you that the paid commitment gets you better quality mastermind members who are serious about building their businesses.

I had a similar experience after I had made a purchase of a relatively high end marketing product. We were assigned to a mastermind group according to our niche market, but there was no designated leader and no structured meeting plan. Needless to say, a big Flail Whale!

By: Nancy Marmolejo

Nancy Marmolejo — Sat, 11 Apr 2009 21:40:55 +0000

Great post! I’ve been actively involved in masterminds for about 4 years. The first mastermind I was in was poorly designed and “forced upon” members of a group coaching program. We were assigned to a group based on us being clients of the same person, there was no choice. If you ever want to understand what awkward silence is all about, ask me about that group!

If a mastermind is to succeed, there has to be synergy between the members. Since then, I’ve learned what a great mastermind is and how essential it is to have a spirit of comraderie. I agree with you: paid masterminds always are more effective. Something about making that commitment lifts the quality of the group members.

Nancy

By: Ellen

Ellen — Sat, 11 Apr 2009 17:52:54 +0000

Hi Bob and thanks for your comment. I especially like your addition of “I’d add that a mastermind needs to meet consistently, and consist of 4-6 people whose skillsets and ambitions are complimentary & compatible.”

For some reason, your comment got caught in my blog’s spam filter and I overlooked it until now.

By: Ellen

Ellen — Fri, 10 Apr 2009 02:20:03 +0000

Thanks Cheryl…it does seem that the Common Success Factor for mega-successful business people is a MasterMind. We’ve got a couple more calls in our ongoing Masters of Marketing Qi teleseminar series and then I can start getting the word about about our next big thing!

By: Cheryl Miller

Cheryl Miller — Thu, 09 Apr 2009 15:47:05 +0000

Ellen – I totally agree with you. I’ve watched those others zoom past and at some point they mention their master mind group. You’ve got a good thing going. Eager to hear the big news! Cheryl

By: Ellen

Ellen — Thu, 09 Apr 2009 15:01:23 +0000

Yes Rosie…the Lone Ranger approach, while appealing to some, is ultimately self-defeating. And a truly effective Mastermind doesn’t give you just generic networking opportunities…but properly structured, gives you a team that is supporting you in all you do.

By: rosie

rosie — Thu, 09 Apr 2009 14:08:15 +0000

I personally think that TIME is or can be equal to money in many ways. So time spent in or planning a mastermind is valuable. Hopefully the true value comes from the results oriented networking. For me it is all about accountability.
Having a mastermind is super, without can be a Lone Ranger approach which is what I am doing most of the time.

By: Ellen

Ellen — Thu, 09 Apr 2009 01:55:32 +0000

Yes Dr. Linne I totally agree…while I don’t think there is anything wrong with getting feedback from the group on problems and challenges one is facing, a group that focuses primarily on the negative is never going to help any of the members. I would never stay in that kind of group for very long!

By: Dr Linne Bourget

Dr Linne Bourget — Wed, 08 Apr 2009 14:52:56 +0000

HI Ellen and all,
I agree that there has to be some concrete way to ensure commitment. Another
element needed for success is a clear statement and agreement on group norms. I was in one mastermind group where I wanted to focus on achieving greater success (I started my positive leadership work 30 yrs. ago and know that the focus on the positive works best financially and spiritually, based in Universal Law).
However, the others wanted to use the group to complain about problems but not change. They were not happy with me because I wanted to focus on our strengths, as they were more traditional consultants focusing on what was wrong. I left. By the Universal Law of Mind, whatever you focus on expands. It may be necessary to diagnose challenges, but not to dramatize them or treat them as the main event. I have found this to be a major split in most every group I have been in. A mastermind group is not therapy!

By: Ellen

Ellen — Wed, 08 Apr 2009 02:36:37 +0000

Thanks Katy and Joe for your thoughtful comments. Yes, Joe I agree that the monetary incentive is very, very powerful. And Katy, I’m not sure that a small fee or donation is going to change things in your group. But it’s perhaps a “heads up” that when you do start a MasterMind for your own clients, charging them a fee will not only help to keep them focused and help with their commitment, but will actually increase the value your clients get from the group.