We are strong believers that the best people to help other people in business are people with experience in business, not a theory about business. One of the tried and tested ways to get high-quality support to succeed is to
that support with others in the form of a Mastermind Group.
A Mastermind is a group of highly motivated people with similar interests and are committed to helping each other. It involves sharing experiences, motivating, supporting and keeping each other accountable to goals and actions over an extended period of time. Groups usually meet each month minimum for several hours.
Mastermind Groups offer a magical kind of peer support that can make a massive difference to your success, but they also require careful attention to set them up and maintain them.
We believe they require three things to help them work:
- Careful thinking to match members to each other by level of experience, and kinds of challenges
- Ongoing facilitation to make sure that all members are contributing and benefiting equally
- Group leadership to organize people efficiently so that it is easy to attend a regular event
As a member, you would not just a consumer, but also a contributor, so ask yourself a few questions to help think about if a Mastermind Group is right for you.
Are you up for:
Sharing - you need to tell, and be able to tell, to others what are you trying to achieve, and what are the immediate tasks in front of you.
Accountability - you need to know what others are working on and inquire about their progress. You need to welcome having your fellow group members following your progress, being happy when you hit your targets, and noticing when you don't.
Help in the form of Thinking - during your time at the meeting all other team members are 100% switched on and helping you in any way they can, and this can include some off-line thinking also. People won't DO things for you, but they will offer creative ideas, options, and links to resources that could be priceless.
Effort - are you up for doing what you need to do to also track/remember what your peers said they would do? And are you ready to take action on the goals you declare to the group are your focus?
How do the Mastermind Groups work at The Arena?
We help create extraordinary Mastermind Groups in a number of ways:
- By putting in an effort to match people by some important criteria, such as the same stage of business/revenue level
- We provide eLearning, a toolkit and ongoing connection for group members who step up into the Facilitator Role, to create a very affordable Mastermind option
- We provide kick-off facilitation, an occasional poll, and support to help with more complex things (like helping clean up any conflict if it arises in the group)
- We provide an App to run the group online, including to actually meet online via video, manage chat and communications between meetings and more. We also provide a closed group for each Mastermind on the Community Site to manage long term planning of the meetings and membership of the groupWe have 3 different options for Mastermind Groups:1. Groups for people in their first 12 months of business
These are professionally Facilitated by someone with much more business experience, who is paid to also provide mentoring advice. This is actually a combination of a Mentoring and Mastermind Group and is called that. If this sounds good to you, click through here to check out our Start-up Mentoring and Mastermind Offer.
2. Groups of people who are willing to learn how to facilitate a Mastermind Group AND participate in it
These are a true peer-organized group. We offer to support the Facilitator with a toolkit of activities, and supervision on-demand by an expert Facilitator. We also provide the 'Group Kick-off' to help set the group up well from the beginning. And we keep an eye on things by polling the group at intervals, to ensure that it is still working for everyone.
If this sounds good to you, you can upgrade your membership to Silver via your profile page (manage subscription button on left-hand side). This involves two main differences to the Bronze membership:
- It costs an extra $10 per month
- It requires a 12-month commitment, however, it is still paid monthly
3. Groups for people who would like a professional facilitator to lead the Mastermind
These people can pay extra to cover the cost of a professional facilitator to manage group meetings and logistics. Professional facilitators are also supported centrally by us with technology, tools and a place to check-in for help, and these groups are also polled periodically to check that they are still working for all members.
You will need to become a Silver member AND purchase the 'Facilitated Mastermind Group' offer in our store. This will mean that you are paying:
- $500 ex GST upfront
- $47 ex GST per month, with a 12-month commitment (this includes your existing membership benefits plus the Mastermind experience)
Things you need to know!
We match people into groups of 6, with a commitment to meet a minimum of once each month for 2 hours, over 12 months.
Group membership only lasts as long as Silver Membership of the community is maintained.
Facilitators are backed by an Assistant in the group, so for a group to form, 2 of 6 people will need to be interested in maintaining the group and 'stepping up' into leadership. If you volunteer for this role, it will be easier to find you a group.
We may take up to 3 months to find the right match of people to join you. If it takes longer, we will refund you your $10 per month extra on your membership, however other than that, we need you to bare with us as we look to match important points like:
- same timezone
- same preference for in-person, or online
- similar stage of business
- similar business model (venture-funded or self-funded)
- similar industry (e.g. tech start-up, service-based, manufacturing)
If you have paid extra for a professional Facilitator, your 12 months for your group will commence from the first meeting.
Masterminds can transform your experience of being in business, and provide a true connection with others on this journey, so believe us when we say this level of complexity is worth the effort! Some people stay together as a Mastermind Group for years, so finding the right group for you is our priority.