In this episode Greg and Justin are talking about how to find and format a Mastermind group. Justin was just recruited this year but he never saw any value in it until he was approached by Brian Casel. Justin listens to Brian’s show all the time and he’s also somebody Justin highly respects.  Greg on the other hand has been doing it for years with John Dumas and Rick Mulready.

At first Justin did not know what to expect from joining such meetings. He even commented that he did not see any value in joining one, until he received that email from Brian himself. Today Justin realizes that there is truly some sense in having other co-founders giving business advice about his business like they were the actual owners of that business. It gave him an outside perspective on things.

Greg adds that the meeting could either be in a virtual space or in the same room. The set up would include the face-to-face conversations that start with the hot seat. A hot seat is basically where a person is placed on a spotlight and becomes the focal point of the meeting. The person in that seat is looking for feedback or help about a business issue and the group will ask questions and gives a feedback. The meeting usually ends with writing down a goal for the following week.

Joining a mastermind can be a paradigm shift because it allows you to find mentors in the community and get a lot more accountability from people who will give support and advice. Benefits of having a Mastermind Group for Greg is that it’s like going a group therapy session and helped him focus on getting things done. For Justin it’s hanging out with more like- minded individuals who are giving feedback about any issue that you have about the same business and life itself.

Do’s and Don’ts in organizing a Mastermind group:

  • Do keep it Small
  • Do assemble a group of like-minded people into a group
  • Do keep it interesting by meeting frequently or to hold it in another location
  • Don’t assemble people with different objectives. It tends to go their separate ways.
  • Do have an organizer who will be the one to set the date and venue. Someone who will explain.
  • Do respect the frequency because each meeting ends with tons of great ideas

Greg said there is no right or wrong format, the group meetings tend to adapt over time and will always require one accountability partner to provide results, provide feedback, in this way the goals become clearer on a weekly basis and the progress is clearly tracked.

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