Mastermind Group Worksheet

Mastermind groups have been around for centuries. The idea is to get a group of like-minded people together to help further one another’s goals on a group basis. The ideal size is six people with diverse skill sets. I like to have mastermind partners who know things I don’t—it helps me stretch. If you can’t get your mastermind group together in the same room, try to arrange conference calls twice a month, and set the goal of getting everyone together twice per year. There’s a different energy when everyone is in the same place. If your mastermind partners are all local, terrific, you can have regular meetings.

Here’s how you form and operate them.

 Make a wish list of ten people you know or have heard of from whom you can learn and with whom you can build trust. Rank them in order of desirability. Call the first five, then work through the list until you have a group formed.

 Schedule regular conference calls or meetings. You’ll need 60-90 minutes per session.

Choose someone to be the Timekeeper, whose job is to make sure everyone sticks to the schedule. The call format is as follows:

1. Ask for spiritual guidance. (30 seconds) The Timekeeper offers a brief invocation asking a higher power to support the group in assisting one another to their best ability.

2. Share what’s new and good. (1 minute each) Each member shares something positive that occurred since the last call.

Mastermind Group Worksheet - 1 - © 2006 Mighty Ventures, LLC · www.mightyventures.com 3. Negotiate for time. (30 seconds) Each member will have 10 minutes to talk about his or her concerns. However, if someone has a particularly challenging issue (e.g., terminating an employee, a death in the family, etc,), he or she may request additional time.

4. Discuss issues. (10 minutes sharing, 5-10 minutes feedback from the group)

Individual members take turns speaking while the rest of the group listens, followed by a brainstorming session to find solutions. If you haven’t fulfilled a commitment you made in an earlier call (see below), this is where you simply fess up and recommit yourself to attaining the goal. Discussions can be personal or professional—whatever the member wants help with. I am in one mastermind group that is business only, and another that blends business and personal. It’s up to you.

5. Make a commitment to stretch. (1 minute each) Once all members have had a chance to share, brainstorm and gain feedback, the Timekeeper asks each member to commit to something he or she wouldn’t do without the support of the group (e.g., commit to working out three times a week, develop a business strategy, attend an art event twice a month).

6. End with gratitude. (30 seconds each) Each member in turn expresses his or her gratitude to the others for their support.

The key to a successful mastermind group is that all members find it equally valuable.

This is why timekeeping is so important. Take turns playing Timekeeper, so each member takes responsibility for a given call. As long as members are getting value, they’ll stick around and contribute.

Keep track of the suggestions made in Mastermind groups. Often you’ll want to refer back to web sites, seminars, and other resources mentioned in your meetings.

For more information on Mastermind Groups, see Christine Comaford-Lynch’s book Rules for Renegades (McGraw-Hill, Summer 2007).