Mastermind groups are awesome

December 2015 update: I wrote a book on freelancing/consulting with my mastermind group. Learn more about that here.

Freelancing Consulting can get lonely

As a freelancer (don’t use that word!), more than likely you work alone a lot of the time. Whether that’s in a home office, from a coffee shop, or a shared office space, you’re the only one working on your business. Now, working alone can be great, of course; it means you’re the sole decision-maker, you have complete autonomy over how you run your business, you get to decide how to deal with difficult client situations, etc.

The problem is, sometimes outside input can be immensely valuable! Other people often have valuable perspectives to offer, based on their experience and their lack of emotional investment in a situation.

Having a business partner (which I do) helps with that, but even so, it can still be great to get input from another trusted source. That’s why I think being part of a mastermind group is one of the most valuable changes you can make in your business.

A little over four months ago, Michael and I joined a mastermind group with Nick, Jane, Philip, Zack, Kai, Kurt, Jeremy, and Jonathan. Joining this group has been the single most valuable change we’ve made to our business in… ever. That may sound extreme or flippant, but I believe it’s true. We continually push each other to be better at what we do, help each other communicate better with clients, deliver (and charge for!) more value, and encourage each other.

Convinced, but don’t know what to do next? Read on.

Talk to people

The only reason I’m in this mastermind group is because Nick somehow knew of me, and knew we were working on a productized consulting service (inspired by his, as a matter of fact). I think perhaps Philip also knew of me, and they colluded on starting the group, but I can’t remember the details. However, I do know that it only happened because I’d interacted with them on Twitter at various times. If not for that, none of this would have happened.

If you know a few people local to you who is also independent and at roughly the same point in their journey, great! Start talking to them and suggest you formalize things somewhat and form a mastermind group.

Don’t know anyone local? No problem. Hop on Twitter, make some connections, and ask a few folks once you’ve built a relationship with them. Don’t know anyone there? Follow me on Twitter, see who I follow, see who follows me, etc.

Once you do get a group going, if you’re not sure what to talk about (especially if you’re all fairly new), I’d suggest reading a book or two together to give you some structure. Brennan Dunn’s Double Your Freelancing Rate and Alan Weiss’ Value Based Fees are both great choices. That will give you something to talk about, and help you improve your consulting acumen and pricing fairly quickly.

Need help?

If you have any questions about starting a mastermind group, what to talk about, etc., leave a comment or shoot me an email, and I’ll help however I can.

2 Replies to “Mastermind groups are awesome”

  1. Travis,

    Any advice on how to find a mastermind group? I’ve been going to MeetUps in my area but the most active and useful one is the social media group and I’m looking for a more constructive focus on web development. I’ve seen Matt Medeiros’ group but I’m not sure that’s the right place for me.

    I’m active in several forums on various platforms but am looking for a bit more personal interaction….

    Thanks!

    1. I would focus on finding 2-3 other people you know (online or locally), who also have a desire to be intentional about improving their businesses. That’s the most important thing, in my opinion – people who are actively seeking to improve. I would also keep it pretty small; the group I’m in is usually around seven people, which is pushing the limits on an effective size for the kind of group I’m describing. Keep in mind they don’t need to be doing the same thing (web development) as you – the value in a mastermind group isn’t in helping you hone your technical skills (that’s what books, online training, etc. are for), it’s in helping you hone your business skills.

      Does that help at all? Let me know what happens!

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