What is a Mastermind

 What is a Mastermind?


One of the greatest mistakes I hear people making is referring to a Mastermind like it's a networking or facebook group! (no facebook does not deserve to be capitalized) What is a Mastermind?

People ask, how many people would you like to have in your mastermind? And people put anything from 20 to 100! I read a few posts where people said, as many as I can.

Nope. 

A Mastermind is supposed to be a small group of successful people who get together to share their success or challenges in their business and help others in their group learn from their success or help in their challenges. That is accomplished with ideas, helpful advice and mentorship what creates more success for people in that group. It typically consists of 6-10 people at the most.

There are three types of masterminds - one where you might be the least successful and truly want to learn and grow. Many masterminds look to help the businesses and people who seem to have the most promise and are completely open to ideas and suggestions.

The second type of mastermind is where you are all equally yoked. Meaning all of fairly successful, on basically the same level and each will help and offer their advice to others in the group all hoping to share great ideas and success.

The third type of masterminds might be where you are the most successful and wanting to help all others find the success path you have and you are wiling to give your time and expertise to help them accomplish those goals.




What a Mastermind is not is a larger group of people gathering for a meeting. It is not a hodge-podge of businesses like a networking group where people may or may not be successful. Typically these groups do not share success, success incites, or success ideas. Mostly because the people come from all areas and most are not interested in learning and growing their business but only in adding referral partners or customers. This is usually found in their weekly meeting notes, how much money was brought into the group on a yearly or monthly basis. How many referrals did you give this week. How much was each referral worth. And of course, spewing your elevator pitch again and again to people who have heard it a dozen times and usually tune out as they prepare what they will say during their elevator pitch or check their phones under the table while you are presenting.

What is a mastermind? A small group of business people who gather monthly to create more success for themselves and their businesses or help other people and their businesses. It is not for exchanging referrals of making sales. And if you do any of that you will probably be removed from the mastermind group.

If you would like to learn about how to make the most of your Business Networking take Steve's course on How to Impact Your Networking Group and Make a Lot More Money offered quarterly. steve@stevesapato.com

Steve Sapato has been a businessman and Professional Speaker for over 40 years. His knowledge on business, business training, company growth makes him one of the best presenters for any organization.

If you would like to talk to Steve about speaking or being an Emcee at your next event please reach out to steve@stevesapatoseminars.com







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