You’re a small business owner who is eager to grow your business while helping other businesses to do the same. You land on mastermind groups and it feels like a holy grail. You compare different groups and find a suitable one. But the question in your head is this – Am I the right fit for a mastermind group?

Let me tell you about one of my clients.

Esther (not her real name) was in the same predicament a few years ago.

Her business was thriving, but she knew there was more potential waiting to be unlocked.

She’d been taking various courses to up her game, but it was like spinning plates – keeping her busy but not necessarily moving her forward.

She, like many other small business owners, felt lonely in her business. It felt like she was on a solo expedition, and she craved someone to bounce ideas off, to cry with when things were tough and to celebrate when they were great.

So one day a friend recommended Mastermind9 to her. Esther dipped her toes in with a taster session and was hooked. But, like anyone stepping into new territory, she wondered: “Am I a fit for this?”

Cue the heart-to-heart chat. We hopped on a call with Esther, guiding her through what to expect, addressing her concerns, and helping her feel at ease with her decision. And guess what? She took the plunge.

Fast forward just three months, and Esther was singing praises. Her business? Booming. Her wallet? Thanking her, four times over. But the real kicker? That loneliness? Vanished into thin air.

With her newfound support system, she was living the dream – striking that elusive work-life balance, spending quality time with her loved ones, and even contemplating expanding her team.

Are you the Right Fit for a Mastermind Group?

So, you’ve found a mastermind group that you feel aligns with your values. Before you spend any money on it, like anyone else, you’re keen to finding out whether it’s the right move for you and your business.

We get it!

Decision fatigue is real when it comes to running your business. And in this blog, we’ve made it easier for you by diving into 5 things that you should keep in mind when figuring out whether you’re the right fit.

There are lots of mastermind groups, you can take all the time you need to shop around and find one that is most suitable and will bring you closer to your goals.

Here are five things to keep in mind:

1. Qualifications
2. Personality
3. Spending Potential
4. Rules of the Game
5. Structure and Format

1. Qualifications

Some groups might have certain prerequisites or specific skill sets they’re looking for. Others might be more about your role or status in your industry. Regardless, it’s crucial to figure out if you tick all the boxes before diving in.

Because here’s the scoop: There’s no point shelling out your hard-earned cash for a mastermind group if you don’t meet the criteria. Trust me, it’s like showing up to a party where you don’t know anyone – not fun!

Take Mastermind9, for instance. We’re all about supporting business owners, MDs, or leaders of 3rd sector organizations. Why? Because we believe these folks are the ones we can truly help skyrocket their businesses.

But hey, every group has its own flavour, right? Some might be industry-specific, others might be location-based. So, it’s wise to do a little digging upfront.

How do you find out if you’re a match? You can scope out their website for details or shoot the facilitator a message online and ask them directly. After all, clarity is key when it comes to finding the perfect fit for your mastermind journey!

2. Personality

When you’re working with other people, personality is a BIG DEAL!

You never want to land in a situation where you are rubbing off people the wrong way or vice versa. You need to work amicably with everyone if you are to succeed in the mastermind group.

Most mastermind groups have a golden rule – be ready and willing to lend a helping hand. But it’s not just about being Mr. or Ms. Nice Guy. You’ve also got to be open to constructive feedback and bring something valuable to the table, like skills or experience that can benefit the group.

These are the kinds of personality traits that really shine in mastermind circles.

Find out who the existing members are, you might find that you’re already acquainted with some of them. Talk to them and try to understand the way the group works. Through that, you’ll easily get a sense of what kind of personality they are after. 

Don’t forget to go through their marketing materials. It can give you a sneak peek into the kind of folks they attract and whether you’d vibe with them.

3. Spending Potential

To get the most out of a mastermind group, you need to play the long game. If you’re expecting overnight miracles, you might be in for a surprise. Mastermind magic doesn’t happen overnight – it’s more of a slow-cooked stew than a microwave meal.

That means you have to be financially prepared to stick it out for the long haul. After all, Rome wasn’t built in a day, and neither is your success journey.

But fear not! There’s a mastermind group out there for every budget and comfort level. Some might have specific financial requirements, like hitting certain revenue targets, while others are more flexible. Some groups might even ask for a multi-month commitment upfront.

Bottom line? Do your homework, crunch those numbers, and make sure you’re okay with the price tag before taking the plunge. After all, you want to invest in your future success without breaking the bank, right?

4. Rules of The Game

Each mastermind group has its own playbook that you need to follow. You need to find out what these rules are. Before you sign on the dotted line, take a peek at the rulebook and ask yourself, “Can I get down with this?”

In some circles, you might be sworn to secrecy with a Non-Disclosure Agreement (NDA). Others might expect you to turn up at every single meeting like clockwork.

Some groups are marathon sessions, clocking in at a solid four hours, while others are more like a quick coffee catch-up, lasting a breezy two hours.

The key? Do your homework! Scope out the rules and regulations for any mastermind group you’re eyeing and make sure they mesh with your style and schedule. After all, you want to feel right at home in your mastermind group, don’t you?

5. Structure and Format

Different mastermind groups take different formats. Some are held purely online and others purely face-to-face. Others are hybrid – blending the best of both world.

It’s important that you have this information at hand. 

At Mastermind9, for example, we have the spotlight sessions where one person presents their challenge to the team and we unravel it together, tackling it head-on, and providing solutions for the person.

I would imagine that this format might not be comfortable for everyone. And before you join a group, you need to check with yourself.

What floats your boat? What makes you squirm?

Ask yourself all the important questions to make sure that you gain from being part of the mastermind group.

After all, being part of a mastermind group should feel like a breath of fresh air, not a struggle. So, go ahead, do a little soul-searching, and find the right mastermind group for you.

Summary – 5 Ways To Know if You Are the Right Fit for a Mastermind Group

Just like with anything else in life, knowledge is power. When you’re armed with knowledge, you’re like a superhero, ready to conquer any challenge that comes your way. And when it comes to your business, that’s no exception.

Joining a mastermind group is a big decision. It’s not every day that you share personal stuff about your business with other people. It requires a lot of vulnerability.

But here’s the magic: When you find the right mastermind group, it’s like finding your tribe. You’ll click, and bond, and before you know it, you’ll be opening up like old friends. And that’s when the real magic happens.

In conclusion, the five things to consider whether you’re the right fit for a mastermind group are:

1. Qualifications
2. Personality
3. Spending Potential
4. Rules of The Game
5. Structure and Format

Are you interested in joining a mastermind group? Or know someone who could be interested? We’re launching new groups over the next couple of months, and we’re welcoming all business owners to try us out for free! Apply to join a free Mastermind9 taster and if you meet our requirements for membership, you’re most welcome to try out a complimentary taster session. Apply here.