Alright, BBC community, here’s a question for you: How do you create an effective and valuable mastermind group?
Let me explain…
If you’re in business like I am, you spend a lot of time making your own business decisions without much advice from peers or mentors. Sometimes that’s cool, but sometimes you can really make big blunders and move your company or consultancy in just plain the wrong direction. Larger companies have a group of executives who can be counted on to analyze strategic and tactical decisions, and the smartest of them have a Board of Directors, a group of senior people who offer sage advice (except, maybe, for HP, but that’s another story) and help the company grow smart, strong and true.
But I don’t have anything like that. Like many other entrepreneurs, I’m flying solo, so while the idea of a Board sounds good, I don’t really want to put anyone in the fiduciary line of fire for my business (there are legal responsibilities when you’re a board member).
Instead what I want to create is a small group of entrepreneurs and business folk here in Colorado who have the savvy and experience to help me steer my business in the right direction and, hopefully, I’ll be able to help them do the same. It’s basically a board of advisors, but I’m going to refer to it by the more appealing name of a mastermind group.
And so my question. Are you in a mastermind group of any sort? If so, please do share logistical details like how often you meet, how long the meetings are, how many members you have, what membership criteria you use, etc etc. If you aren’t, why not consider creating one in your own local community?
I’m not fishing for people to join my mastermind group as I already have a couple of sharp and successful colleagues with whom I’ve been noodling this idea, I’m more just interested in the logistics, in the pragmatic day-to-day implementation of a mastermind group for successful entrepreneurs.
Thanks for any insight you can offer!