Congratulations! After much thought, soul-searching and reflection about what you want to accomplish in your business, you’ve made the decision to work with a business coach this year.

You’ve recognized that working with a business mentor isn’t a sign of weakness or failure. To the contrast, it’s a reflection of your commitment to using all resources at your disposal to create a life by design and leave a lasting legacy.

It’s a given that you want to search for a seasoned business entrepreneur who will be able to share lessons learned from their practical experience growing a successful business. You don’t need to hire someone to share business theories with you – that’s what reading books or listening to audio programs is for. What you need is someone who will share practical proven strategies that you can immediately integrate into your daily schedule to produce desired changes in your business. An ideal business coach will help you take an objective, bird’s eye view of your business strategy, ensure the action steps you are  taking will generate RESULTS, and provide accountability every step of the way.

But there’s one thing business entrepreneurs looking to work with a business mentor often don’t know to look for: MASTERMIND GROUPS.

American self-help author Napolean Hill created the concept of Mastermind Groups back in the 1930s with his book, Think and Grow Rich, which has become requisite business reading for entrepreneurs of all ages and stages. The ultimate purpose of a Mastermind Group is to help business entrepreneurs navigate through challenges more effectively using the collective intelligence of others.

Here’s how they work: A group of driven, intelligent business entrepreneurs meet on a regular basis – often weekly, monthly or quarterly – to share challenges and brainstorm creative solutions together. They share strategies and advice, turn to one another for support, make meaningful connections and referrals and even build business relationships when appropriate.

With business mentoring, you benefit from customized one-on-one support, and that’s important. But the peer-to-peer mentoring you get from Mastermind Groups is also extremely valuable.

As a business development strategist at Celeste Giordano Coaching, Mastermind Groups are an essential part of my mentorship program for one simple reason: I have seen the power of mastermind groups to foster powerful business growth time and time again.

Here are some of the top benefits of participating regularly in a Mastermind Group:

1. An Exclusive Community. When you work with a business coach that hosts mastermind group calls or meetings, you gain membership to an exclusive community of business entrepreneurs. Each member is working toward their own unique goals and milestones, but they also share a common goal: to build a profitable, prosperous and sustainable business. Members help one another to conquer fears, overcome obstacles and achieve their dreams. Everyone comes prepared to add value to the group as well as learn from their peers, and the results can be powerful.

2. Built-in  Networking. Networking is a powerful tool for building relationships, gaining visibility, creating referral partners and generating leads. If you are seeking to grow your business, expanding your personal network should be a top priority. Attending mastermind groups regularly instantly grows your network. Because you will connect with mastermind members on a regular basis, you will build meaningful relationships and tap into the networks of those in the group.

3. A+ Advertising. Whenever you attend a mastermind group and connect with your peers, you indirectly market yourself and your business. As you share insights, strategies and tools with your peers, they naturally learn about who you are, what you offer and what sets you apart. As members become aware of your expertise and the value you have to offer, they become referral sources who can recommend your services to members of their own personal network.

Remember, referrals and recommendations work both ways! Search for ways to assist and advocate for those in your Mastermind Group. The more invested each member is in the success of others, the more everyone in the group will prosper as a result.

But how can you make sure your investment in business coaching will be well worth it? What exactly do you look for when hiring a business coach?

4. Opportunity for Collaboration. You will inevitably meet members of your Mastermind Group that offer information and solutions that would appeal to your target audience. Search for opportunities to collaborate with members of your Mastermind Group. Co-host a workshop, feature one another in your newsletters, co-author a book – the options for collaboration are endless. The more you work together collaboratively, the greater results you will achieve. And you’ll strengthen your relationships in the process.

It’s worth noting that there are opportunities to collaborative with your mastermind peers even if your businesses are vastly different. You can invite a peer to volunteer or serve with you on a community or charity project.

5. Lifelong Learning. Successful business entrepreneurs know that they don’t know it all; there is always more to learn. They constantly seek opportunities to develop new skills, tools and knowledge. Mastermind groups allow you to engage in learning on a regular basis which is a catalyst for achieving personal and professional growth. The organic learning takes places via open dialogue, idea sharing and peer mentorship. At a well-run Mastermind Group, you’ll walk away from every meeting having learned something new that you can apply to your business and other areas of your life.

6. Big Picture Thinking. Sometimes business entrepreneurs are so busy with the daily grind that they struggle to see the forest for the trees. Participating in a Mastermind Group means gaining new perspectives about your business. Business entrepreneurs in your Mastermind share valuable insights that enable you to take a step back, see the big picture and evaluate challenges in a new way. Big picture thinking allows you to ensure that every action you take in your business is bringing you closer to the end goal.

7. Invaluable Feedback. When you belong to a Mastermind Group, you are allocated time at each meeting to present an issue that you’re struggling with, whether it’s how to market a new service, how to improve their sales funnel, or how to book more speaking engagements. Peers in the group share honest and constructive feedback that you can use to improve your business. The group also creatively brainstorms the most efficient, cost-effective ways to overcome challenges. In the process, members get to hear what has and hasn’t worked for others who faced similar situations, allowing them to achieve effective solutions that much faster.

8. Accountability. Don’t underestimate the power of accountability to help you stay on track and reach your goals. Your Mastermind Group peers will hold your feet to the fire to ensure you accomplish what you set out to achieve. If you choose to share your progress, knowing that your peers will know whether you hit your daily, weekly and monthly milestones acts as motivation to stick to your plan. But don’t worry about judgement. Mastermind Groups are a positive, safe space to share openly about fears and struggles. If you didn’t reach your goal or made the same mistake again, the group will help you explore what feelings, roadblocks or bad habits may be holding you back and help you overcome them.

With the end of summer in sight, we’re almost in the final quarter of the calendar year. Have you accomplished – or are you on track to accomplish – the goals you set for yourself at the beginning of the year?

If the answer is NO, it’s time to add a reputable business strategist to the mix who offers strategy, accountability and regular mastermind groups to facilitate learning, growth and achievement.

I invite you to join my Silver Council Program or Golden Circle Program before the end of the summer so you can finish 2017 STRONG and PROFITABLE. Mastermind groups are a critical component in each program, and our current mastermind group members are driven business leaders you can collaborate, tackle challenges, learn from and network with — the benefits are truly limitless.

The next time you meet a successful entrepreneur, ask them if they participated in a mastermind group to help them accomplish their goals. I’d venture to guess the answer is a resounded “Yes!”

Share your mastermind group experience.

If you’ve participated in a mastermind group before, I’d love to hear the #1 benefit you gained from it. Email me at celeste@celestegiordano.com.

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Celeste Giordano’s mission is to help business owners develop the skills, knowledge and attitude necessary to “double-plus” their income and become effective and inspirational leaders in their fields. Whether it’s taking your successful business to the next level or starting a new venture, she will teach you the exact skills and strategies you need to enroll more quality prospects, build a rock-solid team, and break through obstacles to achieve real profit and lasting success. Celeste is a professional business growth specialist, a master sales strategist, and dynamic speaker with almost 40 years experience in direct sales and managing high-performing teams.

To learn more about Celeste, click here.

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