The unspoken danger of business masterminds

The unspoken danger of business masterminds

Today, I need to share something that really bothers me about masterminds. In fact, this applies to give business advice in any situation.

It’s something I see frustrate a lot of business owners. It can even lead them down a path that is damaging to their business if they don’t know how to recognize this problem.

But once you know how to keep an eye out, you can avoid this pitfall and still get all the amazing benefits that mastermind groups offer.

(SIDENOTE: I have a few spots left in my mastermind for coaches, consultants, and other experts. Click here to get the details and apply.)

Once, I was sitting in a mastermind meeting where one of our group (I’ll call her Erin) was in the hot seat asking for ideas to generate more leads for her business.

Immediately, someone jumped in to share with Erin how they were doing really well with paid ads and sending leads to a webinar.

As soon as there was a gap in the conversation, another member of the group started talking about how much his podcast had been growing his email list.

It continued like this for the next fifteen minutes. Bit by bit, I could see Erin’s eyes glaze over. I knew this look. She was totally overwhelmed. But because she didn’t want to seem ungrateful, she wasn’t saying anything.

I see this happen a lot in masterminds. The problem is two-fold.

First, people want to appear accomplished and smart. This leads them to offer advice even when it might not be the best fit for the person they are helping.

Second, people genuinely want to be helpful, but they offer advice before asking questions to better understand the problem.

You can’t get the right help unless the person offering advice understands what the real problem is and had an adequate understanding of what you ultimately want to accomplish.

This requires people to ask you questions first.

In Erin’s case, she felt like she needed to generate more leads to grow her income. But had the group asked more questions, they would have realized that the best thing she could do to bring in more revenue was to change up how she was interacting with her list rather than trying to grow it faster.

By asking questions, they would have learned that she didn’t have the budget or bandwidth yet for paid ads and she had no interest in podcasting.

Masterminds are most effective when the group knows what questions to ask before giving advice.

Additionally, it’s important that the group members know when to NOT offer their advice, even if it’s something that worked well for them.

Sometimes advice is just noise.

The goal should always be to offer the advice and input that best fits the specific person and their business at that time.

Keep this in mind when giving advice in a mastermind.

Even more important, keep it in mind when asking for advice. Notice who asks questions first. You can also request that the group ask questions before jumping in with ideas.

A good mastermind facilitator will lay down grounds rules to make sure this happens. This is something I do with my masterminds.

I’m currently looking for one or two more of the right people to join my six-month mastermind for coaches, consultants, and other experts.

We’ll focus on growing your income by creating new digital products and other streams of income.

We’ll also focus on raising your visibility and authority as a thought leader and growing your audience.

You must already be making consistent income from your expertise to qualify. Click here to get the details and apply.

Do you ever suffer from this entrepreneurial malady?

Do you ever suffer from this entrepreneurial malady?

Putting yourself and your ideas out there for the masses can ironically be a lonely business at times.

You sit in your home office wrestling with decisions, wishing you had someone who could jump in the ring with you, even for a moment, so that you don’t have to bear the entire weight of those decisions alone.

You have the freedom of choosing your own path and yet you feel adrift in an ocean of possibilities with nobody to help you choose where to navigate next.

Even if you have a team, you can still feel alone as a leader with nobody to talk to who feels the same pressures, has the same kind of vision and understands the nature of your day-to-day journey.

To succeed, we all need fresh perspectives to shine a light on our blind spots.

We all need consistent feedback both to push us further as well as to remind us how far we have come.

We all need a safe place to share the real struggles of entrepreneurship and thought leadership with those who understand.

When we grow tired of our own ideas and strategies, we need a source of inspiration and trusted guidance to shake things up.

As an introvert, it’s easy for me to isolate myself as an entrepreneur without realizing that I’m doing it. I’ve learned over the years to recognize the signs of entrepreneurial isolation.

I’ve also learned to know who my people are — those I can turn to when I need help breaking out of my bubble, a bit of encouragement, or a solid kick in the pants.

As you head into 2020, it’s worth making a list of who those people are for you. This will serve as a tool when you need to reach out and a reminder to strengthen those relationships.

It’s also important to realize when you need more of those people and/or when it’s time to mix things up by finding new minds to associate with who can stretch you in new ways.

Does any of this resonate with you? Let me know!