In last month’s article we covered the basics of both coaching group program and mastermind groups. This is part 2 of our discussion, and focuses on WHY you would want to tap into one of these groups to take your business to the next level. In other words, what’s the big deal, and why are so many entrepreneurs participating in them?
Why join a coaching group or mastermind program?
- Accountability– When you commit to a group you’re more likely to get those important steps done. Regular meetings keep you on a timeline to achieve specific tasks. Your friends just don’t offer the same level of accountability.
- Professional guidance and feedback– Get the collective wisdom of a group of like-minded fempreneurs and get key insights of an experienced professional coach.
- Different perspectives– The most creative ideas often are inspired by those who are not in your industry. Being part of a group with many different businesses and backgrounds represented is invaluable to seeing your business with “fresh eyes.”
- Idea generation– Sometimes you lack ideas for growing your business or for a special project. Other times you have too many ideas and need to know what ideas are the right ones. That’s when you can vet them with the group. Let’s say you want to launch three new services all at once to your audience. Maybe there’s one that make more sense to launch first that you can build on. Your group can help you identify which one would be best.
- Sounding board– Sometimes you just need someone to bounce an idea off of. When you have a go-to group dedicated to your success you can bounce your idea with context. They have gotten to know you and your business and can give informed feedback to you rather than canned responses or mere guessing.
- Support– Your friends and family can offer support, but it’s not the same as a go-to group of people who understand the unique needs, challenges and desires of being an entrepreneur, and who understand your vision for your business. This level of support is a must for having a strong Hub.
- Creative collaborations– Imagine the opportunities for collaboration with others in your group. It takes time to get to know new people and determine if and how to partner with them in some way. The process of growing your business with a group offers natural opportunities to recognize and pursue creative collaborative opportunities that result in both of your businesses growing.
Having access to all of that support sounds great, right? Yes! It’s also the impact and results of having access to all of this support that really makes it a no-brainer to get involved in a group as soon as possible:
- Clear direction and focus. When you’re trying to grow your business solo, it’s easy to feel overwhelmed and unclear about what to do next, or what project or idea to pursue first. It can also be challenging to see yourself and your business clearly, and your group can help you see your business, your progress, the benefits you offer, and your next steps with much greater clarity. As a member of a group coaching program or mastermind group you can quickly sort through the clutter and feel confident in your direction.
- Reach your goals faster. In a coaching group or mastermind group you have a team of people invested in your success, and who are there for you just as much as you are for them. In addition to new ideas and resolving problems, you have access to a hub of resources. When you need a resource (e.g. virtual assistant, website designer, social media manager) you can easily ask your group for a referral. By tapping into a wealth of ideas, perspectives, and resources you will move barriers more quickly and get connected with your goals much faster.
- You’re less likely to get stuck when you face challenges. You know how it can be sometimes; you hit a roadblock on an important goal or project and it’s easy to get frustrated, discouraged or even give up. When you can turn to your group they can help you get unstuck quickly and support you to solve issues more quickly than on your own. The reality is that another member may have experienced something similar and be able to offer insight or information that seemed elusive before. This can save you lots of time and frustration so you can focus on getting back to making your clients happy and making money.
- Make more money. A huge result of getting focused time on your idea or challenge within the group meeting is getting help to design new services or revise existing ones, and identify products and packages that will make you more money. It’s hard to think up new programs when you’re so close to your business. But when you put out an idea or you need to revamp your service or offer a new level of service, your group members can brainstorm a solution relatively quickly. This enables you to either charge more money, offer a lower priced option of your higher-end offering, or repackage something in a more attractive way to your target audience.
- Get more referrals. It can be challenging to give referrals to people you’ve only met once or twice at a networking event. When you meet regularly with your fellow group members, however, you get to know them on a deeper level, which means that you know their business on a deeper level and can clearly articulate what they do and who they work with. You have a built-in referral system with members who are remembering you when they are out and about, at networking events, and when talking to their clients and prospects. Qualified referrals are a key factor to take your business to the next level.
For next-level results tap into the power of a coaching group program or mastermind group.
I provide both options as part of my services:
Group Coaching: Learn more and see when the next group coaching program starts HERE.
Fab Fempreneurs Mastermind Group: My mastermind group is a “next level” mastermind, where you participate in full-day retreats on a quarterly basis along with monthly peer groups. If you’re considering private coaching, I invite you to set up a consultation and see if we’re a good fit. As a private client you get to participate in the mastermind group- it’s a fabulously powerful combo! Set up your consultation HERE.
Not ready for either just yet? Get momentum going now with The Business Breakthrough E-course.
So, what type of group will you be joining? Have you participated in one already? Share your comments, questions and experiences below.