In a previous post, we talked about some of the hurdles advisors have faced when organizing a Mastermind Group and how to overcome them. The next important step to organizing your group is to ensure, that once the group meets, members are on the same page with their expectations and have a common vision as to what constitutes a successful group. This can be done by creating a mission statement and establishing the values of the group. To determine the vision of the group, ask members what they would consider as “ideal.” What would they like to accomplish by being a member of the group? What are their expectations of the group?  If they were to achieve their ultimate outcome, what would it look like?

The mission of a mastermind group might be:

  • Brainstorm solutions and ideas to help members grow their practices by becoming even better CEOs of their businesses while pursuing a collaborative approach to business development.
  • To operate within a system of peer mentorship, networking, professional education, accountability and prospective client business development.
  • Confirmation that they are making the right business decisions, thus leading to a higher sense of confidence.
  • An energized approach to business growth and a motivating mental boost.
  • Get to know each member, the service and products they provide, and their business goals. Establish accountability procedures.

Next, you’ll want to address the values the group will live by and identify which actions or behaviors support them and which one’s conflict.

Values might include:

  • Ensuring members work professionally, ethically and will adhere to the standards set by the group.
  • Differentiating members from other professionals in their industry.
  • Benefits to clients as a result of the members’ professional collaboration.
  • Support of community projects that contribute to the well-being of others.

As your Mastermind Group creates the mission and values statements, you will recognize opportunities for collaboration that otherwise might not have been apparent. You’ll now be able to set an agenda for the group that includes goals and accountability.

Click here to review our popular webinar, “MASTERMIND GROUPS: The Future of Business Development.”

To talk with a Kelley Group coach about our innovative coaching program, click here.

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