“Why are you going to Dallas?”
“For my mastermind meeting,” I answered, anticipating the next question.
Sure enough, Nancy asked, “What’s a mastermind?”
I gave her a quick explanation of how a mastermind group works and why it is a powerful tool for entrepreneurs in any type of business.
Two weeks later, she called me to say she’d joined a local mastermind group and has already implemented an idea the group had for her business.
She’s now a believer in the mastermind concept. And for good reason. Let me explain why…
The Mastermind Concept
To really understand the power of mastermind groups, it’s helpful to go all the way back to 1937 and the founder of the term “mastermind.”
In his book, Think and Grow Rich, Napoleon Hill defined a mastermind as:
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.
No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind (the master mind).”
The Disney classics Snow White and the Seven Dwarfs, Cinderella, Alice in Wonderland, Peter Pan, and others were the result of a mastermind — a group referred to as Walt’s Nine Old Men.
Disney still uses the mastermind concept today to enhance their business with their famous Imagineers.
C.S. Lewis and J.R.R. Tolkien were members of a literary mastermind, The Inklings, which helped inspire their famous works.
And Warren Buffett created the Graham Group with a small group of investors and great business minds, which gave him insights he never would have had alone.
As Dan Kennedy has said, “All businesses started, built, and run by one entrepreneur inevitably hit a wall that the one person cannot get beyond.”
One option for overcoming that wall is to join a mastermind group.
There are many benefits of joining with others in a mastermind alliance. Let’s look at just three of them.
#1. Shared Experience
If you’ve attended a live event or joined an online group of copywriters, you’ve already experienced the benefit of networking with your peers.
It’s natural to want to have people to talk with who have similar experiences and goals to yours.
Even if your family and friends are supportive of your business, it’s unlikely they understand the nuances of copywriting or of running a freelance business.
To meet the need for business conversations, some copywriters join a peer or accountability group — a small group of fellow copywriters who are committed to talking regularly and providing support to each other.
A mastermind group takes this shared experience to a higher level.
Because the members of the group have pledged confidentiality, there’s a much more open exchange of challenges, ideas, and successes.
The group becomes a team, acting as each other’s Board of Advisors, while maintaining full ownership of their businesses. It’s like having a business partner who lets you keep all the profits.
Plus, there’s something almost magical about being in a room with other ambitious business owners. It’s Napoleon Hill’s “third mind” — the mysterious force that births great ideas.
#2. Combined Experience
There’s no one else with your background and skills. That’s a huge advantage as a freelancer because you can stand out as unique.
But it can be a disadvantage too — there are strategies and tactics you’ve not had the opportunity to learn.
Participating in a mastermind group allows you to overcome the limits of your experience.
When you combine the experiences of 10 to 20 copywriters, you get the benefit of everyone else’s background and skills too.
Regardless of the challenge you face, you have insights from many different points of view. That means you’re able to choose the best option for overcoming your challenge.
Another benefit is the result of combined experimentation. Since each person in the group is testing different strategies and tactics, you get the benefit of knowing which ones work — and which ones don’t.
The time and money saved just by seeing what works for the other members is huge.
#3. Consistent Experience
In the human body, there are two main types of muscles — fast-twitch and slow-twitch. The fast-twitch muscles allow you to sprint short distances, while the slow-twitch muscles supply the energy to run longer distances.
You need both types of “muscles” in your business as well.
When you go through a copywriting program or a short-term mentoring program, you exercise those sprinting muscles.
You’re focused intently on one thing for one to three months and hit your goal quickly. You may do multiple sprints a year, gaining skills and experience to help you succeed.
But there’s also a long-distance aspect to your business.
To be successful long-term, you need to develop focus muscles, motivation muscles, and effectiveness muscles. You also need the resources to meet the challenges each new level of business presents.
There’s a saying among entrepreneurs, “New level, new devil.” As much as we wish there could be a point where there are no new challenges, it just doesn’t exist.
However, overcoming those challenges is easier when you have a mentor walking side-by-side with you, helping you knock down the obstacles that could slow you down.
Your mastermind group leader is that consistent presence, keeping you on track and moving forward. When you want to quit, or put your goals aside, your leader gives you the nudge you need to keep going.
The consistent experience of your mastermind group builds those endurance muscles that will help you run the full distance and achieve the freelance lifestyle you’ve earned.
Is a Mastermind Group for You?
Joining a mastermind group isn’t for everyone. It’s a big commitment.
You must be committed to showing up for the other members of the group who are depending on your participation.
But most of all, it’s a commitment to yourself. When you join a mastermind, you’re committing to showing up and doing your best every day.
Because setting goals is good, but reaching them is better.
Leverage the power of a mastermind group and you’ll go further than you ever thought you could.