Pick the size: 4 to 8 people
Fewer than four and one absent member changes the whole meeting. More than eight and not everyone gets time in the "hot seat". Five or six is a good target for a one-to-two-hour meeting.
Choose who to invite
- Similar stage, different businesses: people facing problems of a similar size, but not direct competitors.
- A mix of strengths: a group with a numbers person, a sales person and an operations person sees problems from more sides.
- People who will turn up: commitment matters more than how impressive someone is.
- One person per business, so nobody holds back in front of a colleague.
A meeting format that works
- Quick wins round (10 minutes): each person shares one win since last time.
- Hot seat (30 to 45 minutes): one or two members bring a real problem. They explain it, the group asks questions first, then gives suggestions.
- Commitments (10 minutes): everyone says what they will do before the next meeting.
- Check-in on last time: start the next meeting by reviewing those commitments.
Rotate the hot seat so everyone gets a turn every few meetings, and keep a shared note of commitments.
Set ground rules early
- What is said in the group stays in the group.
- Ask questions before giving advice.
- Share experience, not lectures: "here is what we did" beats "you should".
- Turn up prepared, and send apologies if you cannot make it.
Keep it going
Most groups fade because meetings slip, not because people lose interest. Lock in a fixed slot (for example the first Tuesday of the month), keep a waiting list of people who could join, and review once a year whether the group still suits everyone.
Between meetings, problems still come up. A wider network like MasterMinds gives you somewhere to ask the questions that cannot wait for next month, and is a good place to meet people for your group.
Questions
- How often should a mastermind group meet?
- Monthly suits most business owners. Fortnightly works for groups focused on a short, intense goal.
- Should a mastermind group have a facilitator?
- It helps to have one person keep time and the hot seat on track. That role can rotate between members.
- Can a mastermind group meet online?
- Yes. Video calls work well and make it easier to include people from different cities.