It’s important to understand that “giving of referrals” is not the basis of Mastermind Groups, but instead a natural occurrence as members become acquainted with each other, learn about the services and products the others offer, and overtime develop trust and rapport.
One of our coaching clients invited his COIs, a retired gentleman, to come to a fan call when he was playing The 90-Day Game. When our client started telling how his goal was to reach people in his target market — arts and real estate, the COI asked, “Why didn’t you tell me this? I have lots of contacts in those areas.
In reality, people like to contribute to the success of others. Often, we just forget to ask them. That’s why the Mastermind Group concept works so well. It brings successful professionals together in a collaborative group to network and support each other.
To ensure this occurs, time should be reserved at meetings for members to tell about themselves and their businesses. For some groups, members do this on a rotating schedule – 10 to 15 minutes set aside at each meeting for one of the members to share. For others, an initial meeting is dedicated to a “show and tell” for all members. It’s important that a time limit is established so each member has an opportunity to participate. As new members join the group, they should be given time at the first meeting they attend to do this.
Overtime, as members discuss business goals, challenges and success, confidence builds and, consequently, referrals are given.
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