Couple of years ago I was part of a mastermind group. We discussed business, career, dating, health; no topic was off limits. We met every Wednesday evening. The mastermind was a great support system. But after 5 months we disbanded. Something was missing but I never understood what.

Last week, I heard this guy Taylor Pearson talk about his successful experience with masterminds. He attributed starting a 2nd business and writing a book, to his mastermind group.

Here are the six takeaways I got from Taylor.

  1. It takes 6-9 months for a mastermind to be effective.
  2. He started his mastermind on a 3 month trial basis. He said this gave every member the option to walk away which made recruitment easier.
  3. He started his mastermind by first identifying someone he wanted to connect with. He recruited that guy and then they recruited others based on group consensus.
  4. He thinks the best masterminds are small – 3 to 6 people.
  5. He suggests having the mastermind be focused on one area – business or personal or career, etc.
  6. He suggests setting up the mastermind so that each member writes down and reviews the following question every x months:

    If we were having this discussion x months from today, and you were looking back over those x months, what has to have happened in your business professionally for you to feel happy with your progress?

Sounds like a good mastermind helps you convert good ideas into real achievements. Similar to the way RewardCamp helps to convert new shoppers into repeat buyers.

Sign up for a free trial of RewardCamp.

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