Why You Need A Board Of Advisors/Mastermind Group

This week I’ve had a lot of discussions with people about Mastermind Groups. All large corporations have a Board of Directors to be sure the company stays true to their mission, hit their numbers and fulfill their responsibility to stockholders. Small businesses (even sole-proprietorships) need them too. But usually, only those small businesses who accept private funding (from banks, angel investors, venture capitalists) have outsiders on their Board of Directors. A professional Board of Directors may not always create a happy, supportive, safe environment for business owners to turn to for problem solving, brainstorming, or even feedback.

On the other hand, we all need a sounding board, experts on our side, and a safe haven in which to ask for and receive help and advice. Every small business owner, CEO, or entrepreneur (in my opinion) must have a Board of Advisors. The easiest and fastest way to put one together is to join/create a Mastermind Group where each member gets and gives equal doses of advice from the group. I wanted to share with you my top ten reasons why you need one.

1. In a Mastermind Group the agenda belongs to the group and each person's participation is key. Peers give each other feedback, help each other brainstorm new possibilities, and set up accountability structures that keep each other focused and on track. They create a community of supportive colleagues who will brainstorm together to move each member of the group to new heights.

2. Each member gains tremendous insight, which can improve their business and personal life. A Mastermind Group is a powerful influence and resource.

3. Here is a golden opportunity to interact and collaborate with like minded people in a non-competitive environment.

4. Be part of a distinct community – a tribe. It is an instant and valuable professional support network. You get to team up with people who are better than you at some area of business or experience – people you can learn from.

5. You will find and attract people who can help and support you – good match for the long term growth and success of your business.

6. It helps you establish a strong personal foundation and see beyond what you can see yourself.

7. Share business models with each other and brainstorm with people who are already on the same wavelength. You get a sense of shared endeavor – that there are others out there!

8. You can walk away with a gem/perspective changed from each meeting – there’s no wasted time or energy.

9. Experience, skill and confidence develop from the Mastermind Groups’ support freeing you to take more risks and reach for bigger goals and dreams.

10. The Mastermind Group will help you design your business (and your life) to be the way you want them to be, not as you've been told things should be.