Why Every Startup Needs a Mastermind

26 Jun 2016

Sheza Gary

Sheza Gary has been a project strategist since 2009 and also involved in the launching of startups and tech companies in New York for over five years. She has a keen interest in writing her own experiences about business plans and upcoming business supporting technologies.

Being an entrepreneur takes determination, vision, sweat, courage and the ability to approach your industry in a new way. The best way to be able to tackle all of these things is to join what is commonly referred to as a mastermind. Basically, a mastermind is a collective of minds that are there to support each other, filter out good and bad ideas and techniques, and work towards goals as a group, even if those goals are different for each group member.

Below are the benefits of joining a mastermind:

You reap the benefits of having several mentors

When starting your entrepreneurial journey, there are many benefits to finding a mentor. He or she has been there and done that, so they know what works and what doesn’t, and can share that insight. What works in one industry is not always going to work for another, so having mentors in different industries with different skill sets allows you succeed on multiple levels of your business. Many mentors share their journey by being conference speakers, but joining a mastermind gives you an even better benefit: instead of sitting in a group with others all seeking the same type of knowledge, you get a much more individualized experience.

A mastermind offers connections

Becoming part of a mastermind allows for great networking opportunities. Those people can offer you advice, and can sometimes even help you connect with others who can make your business easier. When you find yourself stuck by an entrepreneurial roadblock, ask those who have made it past that roadblock how they did so. Some of the connections you make may also end up bringing in new business for you.


Also on StartupNation.com: How to Become an Entrepreneur


A mastermind is motivational

Masterminds want to share their successes, and find solutions to anything that is holding them back. This can be both inspirational and motivational to those who are starting their own businesses. Complacency is not an option when you want to bring something new to the world, and the motivation of the people you surround yourself with can be all that you need to make yourself into the next big thing!

You can rely on the expertise of others

When starting out, you might not be fully skilled in all of the necessary avenues for succeeding as a startup entrepreneur. If you find yourself struggling with a personal weakness, work with someone in your mastermind group who is more skilled in the area to make it happen. Partnering with those in your mastermind can help you find people you know you can trust.

A mastermind provides the structure you need to succeed

One of the biggest benefits to being part of a mastermind is that they can help provide you with the structure that you do not even know you need to be successful. Those who set up a mastermind are typically successful mentors themselves. They learned what it takes to get there (and stay there) by trial and error. They can guide you past common roadblocks, and help you set yourself up to find the best opportunity for success. They can help you with things like:

  • How to conduct meetings to keep everyone on the same page with the same focused goals
  • What type of materials you want to focus on when it comes to marketing your company, products and services
  • Getting the exposure you need to become successful

When your goal is to be successful in your new business venture, become a part of a mastermind in your area. Everyone is able to bring something to the table, which is what makes mastermind groups so successful.

Have you been a part of a mastermind before? What was your favorite part of the experience?

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