Ladies' Launchpad / Kathy McShane
Published 10:23 am, Saturday, July 13, 2013
Feeling stuck and can't move your business forward? If that's the case, you're not alone. However, there is a great way to get unstuck and develop a support group as well.
It's called Mastermind Group, and was formally introduced by Napoleon Hill in the early 1900s. In his timeless classic, "Think And Grow Rich," he defined the Mastermind principle as, "The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony. No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind."
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For years, I have been facilitating Mastermind Groups. I also call them "Accountability Groups." Many female entrepreneurs feel isolated; they don't have anyone to go to with a new idea or a challenge. They become unproductive and lose their creative edge. They feel it is too hard to do it alone, but don't know where to turn for assistance. A Mastermind Group is a perfect setting to help them to move their business forward. It provides a place to ask for and give support, get validation, gain clarity and get answers to questions.
There are a number of benefits to these groups. They provide immediate support for entrepreneurs. Since everyone in the group has a different skill set and knows a different network of people, the participants have instant access to a broad range of people and resources. They hear different points of view and perspectives on how to handle a challenge or how to look at a particular situation.
One of the key elements is the fact that women are held accountable for achieving goals to which they have committed. I have never had a woman come to a meeting without achieving the goals to which she had agreed at the previous meeting. I believe this is because she has an objective board of directors to which she feels committed. She also feels energized by the other women in the group and wants to share her successes and hear about the successes of the other women.
When selecting a group, be sure that the participants are paying members so there is an incentive to fully participate. Your group facilitator should have experience in business and in facilitating a group.
Kathy McShane is managing director of Ladies Who Launch, Connecticut. She can be reached at email@example.com or ladieswholaunch.com/southwestct.