How to Maximize Effectiveness of Mastermind Groups

How to Maximize Effectiveness of Mastermind Groups

1. Keep the members’ expertise and experience relatively close, e.g., no 10-year veterans making $400,000 with people new to the profession.
2. Plan for six months maximum, with a 90-day assessment as to whether to continue and, if so, what to change or improve.
3. Plan to talk at least twice a month for an hour by conference call (if you’re not meeting in person). More than three absences over 90 days and you’re out.
4. Keep group size to a maximum of six.
5. Have an agenda for every meeting that includes time for freewheeling discussion.
6. Rotate responsibility for agenda, logistics, reminders for each meeting.
7. Limit “air time” for each member—don’t let anyone dominate.
8. Have an ego alert, where someone is called for bragging, acting as an eminence grise, or only telling and never asking.
9. Talk to other mastermind groups for ideas and best practices.
10. Create accountabilities for progress, and don’t allow the same question to be asked repeatedly.
11. Start and end on time.
12. Create a recording for everyone to download.
13. Create and distribute advance work with any reading and updates to maximize time together.

© Alan Weiss 2012. All rights reserved.