9 Non-Negotiable Reasons You Should Join a Mastermind Group as an Entrepreneur

mastermind group

You need to join a mastermind group! Have you ever found yourself in a situation you could not think your way out of and someone else had to come through for you?

You have? Great!

This is the same way a mastermind group works in the most basic sense.

What is a mastermind group?

A mastermind group is a collection of smart people who rally themselves as frequently as necessary to help each other through life and business challenges.

Masterminds have existed for a long time. It precedes Napoleon Hill even though he has largely been credited for coming up with the concept. 

No matter how experienced you are in your industry, you cannot solve all the challenges that come your way. Two heads, as you know, are always better than one.

As a business owner, joining a mastermind group can help you tap into other people’s enormous collective intelligence and resources.

If you are still on the fence, here are a few reasons you should join one:

1. You’ll gain an exclusive and beneficial inner circle of people

People who are members of a mastermind come together because they want more from life than keeping up with the Kardashians and playing video games. So with one foot in the door, you already know that you are dealing with people who have dreams and goals they would like to achieve.

They are a group of like-minded individuals who are willing to use their experience, resources, and intellect to help each other be better in the way they approach and solve their problems.

So when you join a mastermind group, it means you have just put yourself and your business in a position to succeed.


2. It will help to keep you accountable

As a CEO, you are the owner of your business. You oversee everything that happens within the company, therefore you answer to yourself. This, however, can get messed up quickly.

Being unaccountable can create a false sense of invincibility, hence, setting your business up for a fall.

A mastermind group can ensure you maintain a disciplined behavior that is necessary for you to succeed in your business.

For instance, the group can help you come up with a set of objectives to achieve and a deadline to meet said objectives. And they will hold you accountable for your success or failure to meet the objectives.


3. They will help you brainstorm and offer assistance when needed

Mastermind group members often come from different cultural backgrounds and have different life and business experiences. This means that more often than not, they will have different ideas on how to tackle a business challenge.

And they will always offer to help.

Pooling together all the ideas they come up with can produce a solution better than anything you would have come up with on your own.


4. You will always be on a mental and psychological high

The idea of the one-man entrepreneur will seldom survive the ever-increasing brutality and competitiveness of today’s business world. A constant barrage of challenges and obstacles can cause any solo entrepreneur to lose the will to keep pushing.

You can’t succeed alone

Having a group that encourages you and rallies to help celebrate your wins gives you the much-needed mental energy/motivation to go on.


5. You’ll get to expand and extend your network

The relationships you forge with those in your network (investors and customers alike) are crucial to the survival of your business.

When you join a mastermind group, you instantly add the members of the group to your network. What’s more, every member of the group will most likely have a network of customers and investors as well. You typically earn those too and so your business network increases exponentially by size and reach.

So don’t think crab; think octopus.


6. They always watch your back

Have you ever had a friend rebuke you for a behavioral trait you did not even know you had? It happens to the best of us.

Members of your mastermind group will help you to reveal and weed out character traits you possess that are poisonous to yourself and your business.

They create a profile on you and you see yourself through their eyes. This way you will see problems that would most likely have remained hidden in times of personal reflection.


7. It helps you to cross-promote your products/services

This is one of the greatest ways that you and other members of your mastermind group can benefit from each other.

Let’s say you have a product or service for which you need to create awareness. And your startup marketing campaign is not converting as you want it to. Or maybe the people in your network who have patronized do not constitute enough market share for you to break even. Moreover, trying to steal customers away from the competition is a task daunting enough to discourage even the most driven entrepreneur.

But when you join a mastermind group, this will no longer be a problem. Members of your group can help you to promote your products/services to their respective networks. This will earn you increased market share without having to get in the ring with your competitors.


8. You get to collaborate in business

Members of your group can do more than give you advice or rebuke you when necessary. They are potential business partners or customers as the case may be.

In your mastermind group, you may find someone who is a perfect fit to work on a project with you – or vice versa. A collaborative effort by group members will help each of you achieve more.


9. You’ll never lack new business ideas

Brainstorming with your group – besides helping you solve your business problems – can yield new business ideas.

Often these are completely new ideas, a good number of them not even related to your existing business. Just being in the same room with all this brain power can help you come up with new ways to expand your business or start another entirely unrelated business.

In conclusion, gone were the days when your business success depended on how wise, financially buoyant, and smart you were.

The syllabus has changed. You need to get people involved because the business of the 21st century can not survive beyond a certain level if you run it alone.

Now is the best time to join a mastermind group. And if you have none around, you can form one.

Your Turn

Do you belong to a mastermind group? How long have you been there? In what ways has your business benefited because of this group? Please share your experience in the comment section.

Kindly mention/link to one person whose mastermind has been of immense benefit to you this year.

Lastly, don’t forget to share this article with the members of your mastermind group. Kindly subscribe to My Startup CEO’s newsletter to receive regular updates from me.

Long live masterminds!

Subscribe to Our Newsletter

Startup’s marketing and everything you need to know.

Find out all about startups on “My Startup CEO.” Learn about how they succeed with stories, advice, and tips. No matter if you’re new or experienced in the startup world, come and improve your skills in entrepreneurship. Start creating your impressive startup story now!

Contact Us

Copyright © 2023 MyStartup CEO