“Trust is the glue of life. It’s the most essential ingredient in effective communication.
It’s the foundational principle that holds all relationships.”
― Stephen R. Covey
The success of your Mastermind Group is based on trust. Without trust no open and honest discussions will take place, no ideas will be explored and no client referrals will be given leaving members to soon lose interest.
Because members need to feel comfortable knowing conversations exchanged during the meeting are kept confidential, a Non-Disclosure Agreement (NDA) is an important consideration. An NDA ensures all group conversations, ideas and documents will not be shared with anyone outside the group–that includes family members, business associates and anyone in your social circle. So, in reality, that includes EVERYONE!
Some of the conversations that take place at meetings might be of a personal nature, while others might address problems a member is having with a client or pertain to a business development or management issue. Any of these issues, when disclosed, could have detrimental consequences, either personally or professionally.
While some Mastermind Groups didn’t see the necessity of having members sign a NDA agreement, many lived to regret it. Start your group on solid ground by making the NDA agreement part of your membership package.
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