How to Mastermind Better

Format

Have a structure or predetermined agenda is a vital component to make the most of the time invested.

Each member understands how much time is allotted for starting the meeting, speaking during hot
seat rotation and closing the meeting out. If members stay on track, everyone gets an equal opportunity to get support from the group.

Benjamin Franklin’s Junto meetings used a list of 20 questions. The most common meeting structure which is the hot-seat format. Each member has an opportunity to share the challenges they are facing and ask questions of the group for a set amount of time. Some mastermind groups use a rotating hot seat each week to ensure that everyone gets their own time.

Popular Formats:
● Hotseat/Spotlight – Equal Time
● Hotseat/Spotlight – Round Robbin
● Hotseat/Spotlight – Single Member Focus
● Presentation/Training
● Topic Based Discussion
● Open Discussion

Many groups combine different element of the formats above to create their own customized agenda please give feedback to Lane@SimplePassiveCashflow.com on what you found most effective for our group. While there may be pros and cons to different methods, there is no question that having some structure in place will dramatically improve your results.

Goal Setting

The Mastermind does wonders for problem-solving but without goals or objectives there is on conduit for the magic.Here is a bit of suto-science but studies have shown that accountability can increase your chances of reaching a goal by 85 percent.

• Hear an idea: 10%
• Consciously decide to adopt it: 25%
• Decide when you will do it: 40%
• Plan how you will do it: 50%
• Commit to someone else you will do it: 65%
• Have a specific accountability appointment: 95%

Put yourself in the right place to succeed!

Here is the toolbox of goal setting frameworks:

• S.M.A.R.T. = Specific, Measurable, Achievable, Relevant and Time-bound
• Pain/Pleasure = A.K.A. The Tony Robbins method. List both the positive outcome of accomplishing the goal and also the negative outcome of not accomplishing the goal
• the ONEthing = Using the “focusing question” from the book the ONEthing by Gary W. Keller & Jay Papasan “What is the one thing that I can do such that by doing it everything else become easier or unnecessary?”

Record Keeping

Its easy to get caught up in the magic of a Mastermind (especially while drinking fine wine or whisky).

But groups can fizzle out even if they were initially effective.

For the success of a group to achieve longevity, it’s imperative there is a way for members to look back and track how they’ve performed over time. 

By analyzing your goals, you can also determine what needs to change or what brings success. Imagine looking back at how you set goals a year ago to identify trends. You might find goals written in a specific format get completed more often than others. Maybe you tended to set overwhelming goals when you weren’t able to achieve them.

Our shared private database of Mastermind notes and goals is keep to future success and helps new members get integrated with senior members.