4 Ways to Start a Mastermind Group and Your Journey to Success

by / ⠀Entrepreneurship / December 5, 2014

Mastermind Group
When I started hearing about mastermind meetings, I figured it was an elite meeting only “three percenter’s” could attend. Once I realized anyone and everyone could join a mastermind group, I started my own.  I sent a group text message to three other entrepreneurs that were far more successful than me and called them to dinner, I covered the tab (everyone loves a free meal!)

We ended up talking for over three hours about investment strategy (we’re all real estate entrepreneurs) and goals to boost out incomes.  The knowledge and motivation I gained at dinner was unbelievable.  I had no Idea it would be that easy to pull off!  The best part was receiving calls from everyone the next day thanking me for putting this on, and telling me that I had motivated them to take action on some of the things they had been putting off in their business.  I was hooked!

They say you are the average of the people you spend the most time with; since I’m always trying to grow, I decided to surround myself with winners. I have no choice but to win!  I started mandatory bi weekly mastermind meetings with absolute rockstars so we can all be held accountable to grow our businesses.

Here are a few simple steps to start your mastermind group:

1) Seek out people you look up to and that are already doing well.

Build a list of 5 to 15 of these individuals you would like to connect with.

2) If you feed them they will come!

It was a huge surprise to me when I realized I could buy an experts time with dinner! I’ve had excellent meetings with local investors willing to share techniques for a meal. Don’t let finances slow you down, if you are short on money invite them out to coffee. I’m sure this will still produce a positive result.

3) Contact time!

I typically send out in a group text message inviting everyone to a mandatory mastermind meeting. I ask that everyone bring their A game on whatever topic I feel needs improvement in our businesses and dinner will be provided. I usually close it out with if you don’t show or underperform “I’ll break your freakin kneecaps” this breaks the ice and everyone shows up with a smile.

4) Be sure everyone has a great time!

Mastermind groups are there to motivate and hold each other accountable. If members are not delivering the goods, or bringing the team down, put them on the cut list!

We are limited on how much time we have each day, so we do not need to waste it with unmotivated  individuals. Create the core group that will keep everyone growing, give the group a cool name and schedule regular meetings to hold each other accountable!

 Start today and do not stop until you have your new mastermind meeting scheduled!  The results of this are life changing when you have an amazing team behind you!

Michael Alder is an author, carpet business owner, and Real Estate entrepreneur. He’s passionate about helping young entrepreneurs harness their true potential. You can find him at MichaelAlder.com and on Facebook at Michael Alder. 

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About The Author

Matt Wilson

Matt Wilson is Co-Founder of Under30Experiences, a travel company for young people ages 21-35. He is the original Co-founder of Under30CEO (Acquired 2016). Matt is the Host of the Live Different Podcast and has 50+ Five Star iTunes Ratings on Health, Fitness, Business and Travel. He brings a unique, uncensored approach to his interviews and writing. His work is published on Under30CEO.com, Forbes, Inc. Magazine, Huffington Post, Reuters, and many others. Matt hosts yoga and fitness retreats in his free time and buys all his food from an organic farm in the jungle of Costa Rica where he lives. He is a shareholder of the Green Bay Packers.