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September 2021

5 Benefits of a Small Business Mastermind

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5 Benefits of a Small Business Mastermind

If you’ve never heard the term small business mastermind, you might be wondering what on earth a business mastermind is and how it might benefit your small business. Let’s explore five of the best benefits of a business mastermind group here.

What is a small business mastermind?

A small business mastermind group is a collection of like-minded business owners who come together regularly to support each other in a variety of ways. The group may comprise of a diverse range of businesses including those that are newly in business to owners who are very established. The aim of the group is to share ideas and knowledge, support and encourage each other and celebrate successes.

Who would benefit?

Any business owner can benefit from a group mastermind. Small business masterminds are especially beneficial because sole traders or micro business owners often won’t have a team of other people around them to bounce ideas off. The group provides that missing piece for small businesses to get feedback and input from others in a safe environment.

Is there anyone who wouldn’t benefit?

Business owners who think they already know everything there is to know about running a business would be unlikely to benefit from a group mastermind. It requires you to be open-minded to the possibility that other people have useful input about your business. If you aren’t interested in listening to the views of other business owners, a group mastermind probably isn’t for you.

What are the benefits?

Knowledge sharing

Often in business, and especially at the start, you don’t know what you don’t know. If you are trying to run your business in a vacuum, then it’s highly likely that you will be oblivious to many things that can help make your life easier or your business more successful. A small business mastermind can open your eyes as to what support is available that others have already taken advantage of. This could include everything from how to secure business grants to using a different piece of software that improves efficiency.

Accountability

Being a sole trader means that the only person holding you accountable is yourself. And sometimes that just isn’t enough to get you moving forward in the way you would like. Using your fellow mastermind group members as accountability partners can help you to achieve more. If you commit to completing a task and you tell someone about that, then you are more likely to complete that task than if you are just holding yourself accountable.

Motivation

When you work on your own and things aren’t going as you hoped, it can be easy for you to become demotivated. Attending a business mastermind can help give you the encouragement you need to keep going. Having the support of others who are in a similar situation can mean the difference between achieving your goals and not.

Connection

Small business owners are at greater risk of work isolation as they tend not to have many work colleagues around them. The business mastermind can provide the connection you need to help keep you feeling happy in your work. In addition, you may be able to form collaborations with or get great connections to others from people you meet at a mastermind.

Celebration

It’s important to celebrate your business milestones and successes and that’s harder when you work alone. Your small business mastermind group can help you acknowledge your achievements and help you aspire to even greater success.

 

Step Up To Success – a mastermind group to suit you

Step Up to Success is a women-only mastermind group. At only £29/m, it’s a small price to pay for huge benefits and is a great way to invest in the future success of your business.

Contact us here and check out some of our customer success stories.

You can also connect with me on LinkedIn.