The Power of the Hive: How a Mastermind Group Can Get the Creativity Flowing

It doesn’t matter if you’re a business owner, a mom, or the CEO of a major corporation.  Sometimes you just can't find the motivation to think outside the box or be the least bit creative. It's times like this that you need to seek some inspiration from others, and one way to do that is by being a part of a mastermind group. 

While we all know the benefits of being a part of a mastermind, especially if you’re a business owner, what you may not realize is how those benefits translate into improved creativity in all aspects of your life.

Benefit #1 - Creative Ideas from Others

Sometimes you just get in a rut and don't feel creative at all. That's when you go to your mastermind group and draw on their creativity. Let them know what you're working on and ask for their ideas and thoughts about it. Soon you'll probably have more ideas than you know what to do with and sometimes just one comment from someone else is all it takes to turn your creative thinking back on.

Benefit #2 - You're Pushed to Think Bigger

When you're a part of mastermind group, people will challenge you to think bigger than you've probably ever thought before. They're going to encourage you step out of your comfort zone and stretch yourself to reach for bigger and better things. And if you're going to be thinking big, it's going to require you to use your creativity and think outside the box.

Benefit #3 - Partnering with Others

One of the biggest benefits to being part of a mastermind group is that you'll get to know those in the group with you, and you’ll start building relationships with them. As time goes on, you may find someone you want to partner with on a project or someone else might approach you about partnering with them. It's a win/win situation as long as the both of you do your fair share of the work. Even better, you’ll experience how the other person thinks and works, which will in turn encourage you to think differently – otherwise known as “be creative.”

Benefit #4 - Brainstorming

When you work for yourself, there isn't anything much worse than getting stuck and not knowing how to move forward. But if you're part of a mastermind group, you’ll be able to go to the group and brainstorm ideas with them. Let them tap into their creative thinking skills and knowledge to help you get unstuck and moving forward again.

These four benefits are definitely not an exhaustive list of reasons to join a mastermind group, but they do show you how being a part of a mastermind can kick start your own creativity. Simply by discussing ideas with others in your peer group, you’ll discover new and different ways of approaching and solving problems, and that is the biggest benefit of all.

Create a "Study Group"

According to those who have been there before, the key to success in law or business school is getting in with the right study group. These partners not only give you buddies to study with, they keep you accountable and on-task. If you let yourself down, you let down the whole group.

Entrepreneurs have "study groups" also.  Only we call them "masterminds."  Finding accountability partners can be key to a successful business venture.  A good mastermind will be comprised of fellow business people who can support your efforts, help you brainstorm problems, and keep you on schedule,  The right mastermind can mean the difference between passing and failing.  Here's what to look for in your own “study group:”

A variety of skills.  The best groups have members with expertise in different areas.  The tax accountant, the paralegal, the sales trainer can all advise each other and provide different perspectives on the same topics.  If everyone is in the same industry with the same background, you may have a lot in common, but you won't be able to brainstorm as effectively.

Similar commitment level.  The most important element may very well be a common level of commitment to your goals, whatever they may be.  If one member is a little lax and the others are all gung-ho, the mismatch will soon drive everyone crazy and cause bad feelings.

Regular meeting times.  Whether you're meeting by Skype, in person, or in a chat room, make a regular weekly or monthly appointment, and keep it!  Nothing will submarine a group faster than no-shows or constantly changing meeting times.

Structured meeting.  The meeting doesn't have to be scripted down to the last minute with a pre-released agenda, but at least having a time limit on each member will ensure no one hogs the whole time – or never shares his or her progress at all.

Resource-sharing.  One of the most valuable roles an accountability group can play is providing recommendations and referrals.  Looking for a great graphic designer, bookkeeper, or webmaster?  Your “study group” should be your first stop.

 
One final thing to keep in mind is that masterminds, like friendships, are created differently. Some will last a season as you launch your business; some may last only a few weeks or months.  I belong to one that has met for two years!  Be ready to let your group go if it's no longer fitting your needs.  It will be hard, but if it's not helping you further your goal, it may be time to move up and on.

Coming up next:  What's on your reading list?

Building Wealth Together

When I first decided to strike out on my own, that is exactly how I did everything - on my own. It took me a while but I finally learned that there is a better way - building your business in partnership with someone else.

We live in an age of great opportunities and equally great challenges. The internet has enabled many to choose to become an entrepreneur. And yet, we look at the current economic situation and it seems the American Dream of life-satisfaction and financial freedom remains out of reach for many.

These days, it sometimes takes teamwork to reach our financial goals. Partnerships and joint ventures are a great way to create more business for everyone involved. You aren't an expert in everything. We all have our talents and interests. Allying yourself with several other people, especially those with different areas of expertise, but similar values, is a means of combining your strengths for mutual benefit. Focus on your strengths and use the strengths of your allies to fill in your weak areas.

You can use joint ventures in a variety of ways. Do you know someone that has just created an fabulous product but doesn't know how to market it? If you have the marketing skills necessary for success, joint venture. Or suppose it's an existing product that hasn't been introduced into a particular marketing niche. If that's your niche, joint venture. Do you want to expand your business into other areas but don't know how, joint venture with someone who is already successful in that area. I engage in a very common form of joint venture regularly. As a "baby boomer' woman entrepreneur, I have access to a very specific market. Much of my list is comprised of baby boomer women - some entrepreneurs in their own right, most of them professional career women in some aspect. I am often asked to market someone's product or service or book to my list. If it's something I can endorse, I will do so in exchange for either a percentage of the sales or, if they target a market I am not reaching, having them promote me to their list. A very simple and yet at times highly profitable joint venture.

It can sometimes be difficult to find a partner to joint venture with, especially if you are new in the business. There a several resources available to help you learn this skill. I highly recommend you read everything available by Ken McArthur and attend one of his jvAlert events as soon as you can. I have made many valuable contacts at these events and Ken works hard to ensure that the atmosphere is conducive to just that - networking, making contacts, and creating joint ventures.

Another great way to build wealth together is through a MasterMind. Napolean Hill, in his classic Think and Grow Rich, wrote: “No two minds ever come together without, thereby, creating a third, invisible, intangible force which can be likened to a third mind. No individual may have great power without availing himself of the ‘Master Mind.’”

What is a MasterMind? Very simply, it is a group of like-minded people who get together to provide each other with feedback, hold each other accountable, brainstorm ideas together, and help each other focus and stay on track. MasterMinds allow you to tap into the experience and skill of others to help you improve your business. I love working with my MasterMind groups and look forward to our meetings. I have received great feedback and support here.

Finding the right MasterMind is important. You want to be sure the members have similar interests and skills to your own. Most reputable business coaches support a MasterMind group of their own. I suggest you start there. Find a coach you trust and respect and see if they have a MasterMind group. If not, you can always ask if they would be interested in starting one.

Whether you find a joint venture partner or join a MasterMind - or both, I hope you have learned one thing today. You don't have to do this alone. There are plenty of opportunities for you to reach out to others and build wealth together.