Updated: Mar 26, 2021
What is a mastermind?
Self-motivation can be challenging at the best of times. Throw in long working hours, personal commitments, social appointments, and we often end up de-prioritising our long-term goals.
A mastermind – a group of action-oriented people who get together to support each other in pursuit of their goals – is one way to not only accelerate your journey towards your long-term goals, but to learn and connect with like-minded people along the way. A mastermind functions as a regular, scheduled gathering of a group of people – anywhere from 2-5 – where individuals can share some of the most pressing challenges they are facing or sharing a goal they are striving towards.
The purpose of the group is two-fold:
A collective sharing of ideas to support other members of the group
To hold other members of the group accountable to take actions
What are the benefits of having a mastermind?
Suited to whether you have entrepreneurial ambitions, health goals, or career aspirations, a mastermind can both be a challenging and supportive environment that can help you stay focussed on your journey despite all of life’s commitments and distractions.
A well-executed mastermind does this by:
Holding you accountable for your actions – To get the most out of a mastermind, you’ll be required to not only identify, but also commitment towards acting to address the challenges that you face in your everyday life. The responsibility of other members in this instance is to hold you accountable to take necessary actions.
Focusing on personal growth – Slow and steady actions from your part – carried out consistently – can lead to transformative growth in a few months.
Cultivating a culture of support and encouragement for all members of the group. Successes are celebrated, and those still working towards their goals are guided, encouraged, and supported along the way.
Tapping into knowledge, wisdom and experiences that already exists around us. We fail to tap into it because our social interactions generally tend to focus on trivial matters such as sports, politics, jobs, etc. A mastermind isn’t a social interaction. It’s an agenda-driven exercise that approached in the same way as any project.
Lastly, motivating us as we observe those around us tackle their toughest challenges and grow.
How to get started?
Here are some ideas on how to start and run a successful mastermind:
Identify the people you would like to create a mastermind with – ideally 3-4 people in total
Agree on a purpose for the mastermind by draft a mandate – doing this up front is enormously helpful
Set-up regular meetings – monthly sessions ensure we have enough time to execute on agreed actions
Meet at a time and location that’s likely to spark new, inspiring ideas – early mornings are ideal
Identify the problem, the first steps you have taken to address the problem before tapping into the collective brainpower of the mastermind
Be prepared to share your vulnerabilities if you expect others to do the same
Ask the difficult questions, and be ready to face the difficult questions
Accomplish what you committed to doing
A mastermind group does not guarantee success, but sharing the journey and learning from like-minded individuals along the way does make the journey easier. Also, what you will probably observe is that a large number of highly successful people have some form of mastermind arrangement in their lives.
At Peak Play, Sunny and Kush have been meeting their mastermind group each month. This mastermind group has four highly skilled and motivated individuals that bring various thinking patterns and ideas to the table. Although the benefits for each individual have varied, the exercise has been immensely helpful, and we very much intend to continue this practice as a lifelong practice.