All About Small Business Accountability Mastermind Groups!

Have you finally taken the plunge and started your own small business, but now find yourself overwhelmed with how much you have to do to get it up and running? There's paperwork, recruitment, client management, monetization, not to mention product or service delivery -- a lot to get a handle on!

Or, have you been running one for a while but feeling like your growth has plateaued? You need to try new strategies or scale up -- but you've already exhausted all your own ideas?

Sounds like what you need is a bit of support and advice on how to move forward. Why not do what all the great business leaders of today are doing, and join a mastermind group?

What is a Mastermind Group

A mastermind group is, to put it simply, an accountability group for business owners. It's a place where you come together with like-minded individuals, who may or may not be of your industry, to share your journeys, ideas, challenges and find opportunities for growth together.

Mind you, a mastermind is not a support group or networking club (though you certainly may end up getting support from one, and enlarge your network). All the members are invested in the success of the entire group -- the focus is on continuous learning, interaction, accountability, and ensuring everyone is gaining from this supportive community. Here's how sessions can look:

What Happens in a Mastermind Group

Peer Mentoring

Your mastermind group members may be like-minded people, but they come with diverse perspectives and experiences. So there are lots of opportunities to learn how to start and run a successful business, from other members.

Ideation and Discussion

When new business opportunities come up, you may not know exactly how to seize them. Or, you may be stuck on a challenge that just seems too difficult to overcome and move forward. In such a situation, you can tap into your mastermind group for some brainstorming to solve problems you're facing. Sometimes, it takes just talking through your problem to get unstuck.

Accountability for Every Group Member

When your group members invest time to provide you with solutions and advice, you are also held accountable to them. You feel accountable when someone puts in time and effort to help you out! This can be formalized as well -- during meetings, each member can be checked in with to see if they're actually following advice and making progress, or if something is holding them back.

Group Celebrations

When you're all part of the same group, everyone's successes feel personal! Every member's progress is lauded and celebrated by all members -- which has the incidental benefit of bringing you all together as a group.

How to Find Small Business Mastermind Groups

A small business accountability mastermind group is quite a niche thing to look for, but here's how you can make a start:

Look for Established Groups

If what you seek is an industry-specific mastermind group, connect with people who are a part of your professional circle and find out if there already is a group you can join. Mastermind groups are gaining traction, so chances are there are a few small groups already actively looking for more members. Start by connecting with alumni groups and connections on Linkedin.

Network Online

Networking platforms like Lunchclub and Bumble Bizz are built to connect professionals with each other. Try to be specific about what you're looking for -- a mastermind group -- and you may find others who can help you join one. Also check out Facebook and Reddit groups.

Create your Own

If it's not out there, make it! Just like creating an accountability group, you can start your own mastermind and invite people to join in and grow it together. Just be clear about your agenda and objectives!

Benefits of a Mastermind Group for Small Business Owners

Uniquely Supportive Community

Mastermind groups are solution-oriented, so you don't just have people who are willing to lend you a sympathetic ear, but those who are also actively helping you find a way forward. So you can get solid advice, motivation and actionable feedback on your work from your group members. At the same time, they will keep you accountable so you can fulfil all your goals!

Structure and Discipline

Growing a business is not just about goal setting -- you need organization and willpower to see it through without succumbing to setbacks and distractions. At the same time, as your business grows, you need to develop leadership and management skills. Knowing that there is one group of people keeping an eye on you will keep you focused!

Greater Business Success

With consistent checkins and accountability, you're much more likely to fulfil your goals and take your business to the heights you've dreamed of!

Greater Networking Opportunities

Networking may not be the first goal, but it's definitely on the agenda! Your mastermind group members provide access to a larger pool of people to connect with, work with, and learn from.

Challenges of a Small Business Mastermind Group

Finding the Right One

Before joining a group, you need to be sure you know what you're getting into. If you want a general mastermind group but find an industry-specific one (or vice versa), you're might not be able to get as much as you'd like out of it.

Maintaining Consistency

As a small business owner, you're going to be pretty busy! And being part of a group that demands regular meetings and check-ins may not always work out for you. So think about everything you have on your plate, and be sure about how much time you can commit to.

The same holds true for other members as well. Even if you're willing to keep up the momentum, the mastermind group only works if others are equally invested!

Balancing Perspectives

Everyone's business journey is different, and so there may be multiple perspectives on dealing with a growth question or challenge. The trick is mutual respect -- there's no right or wrong way, and everyone should give each other the space they need!

Keeping Things Relevant

Just like your business, your group needs to have a clear future. Letting it turn into a mere networking or "seminar" group will be a waste of what could be much, much more.

Mastermind or Accountability

Several features of a mastermind group can also be found with accountability partners and groups. Where's the difference? Accountability partners and groups have one main agenda: to ensure your goals get hit. Unless specified, you're not likely to have opportunities to see each other grow and follow each other's footsteps.

In a mastermind group, you don't just learn from each other, but also see a lot of perspectives and experiences coming your way, so you can have a wider knowledge and brainstorming base to tap into when you're stuck.

Want to Stick with Accountability? Try Boss as a Service!

Perhaps a mastermind group is for the future you, and you'd like to master accountability first. Not to worry, we're here for you! At Boss as a Service, our real, live bosses will keep you accountable to all of your goals -- career and otherwise -- and provide a healthy dose of motivation, support, and even tough love when needed!

Final Thoughts

A mastermind group for accountability can be a real boon for small business owners and entrepreneurs as they move forward with their businesses. Join one or start one -- you'll be surprised at how much progress you can make with a group of peers to lean on!