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Small Business Working, Big Business Thinking PDF Print E-mail
Written by Wendy Zak

iStock_000012289383XSmallWhenever I hear fellow solopreneurs talk about the isolation and limits of working alone from a home office, I have just one word to say: ‘masterminding’.

As a solopreneur who seldom gets out of her basement, I find that masterminding keeps me sane; and out of my own head. Because when you’re working alone it can be easy to get set in your ways; and hard to come up with solutions that are out of your area of expertise.

I’m a member of a group that meets every two weeks for a lunchtime session of brainstorming, sharing – and yes, even venting. The businesses represented are varied, as are the levels of business expertise.

So, for instance, when I’m stuck finding the software I need for a particular task, or I want some advice on formatting information products, there is invariably someone in the group who has some useful information or guidance to offer.

An unexpected benefit is that when others are discussing their own challenges or questions, I very often find ideas for myself in the solutions proposed. It’s a great source of inspiration.

If you can’t find a mastermind group in your area, you can always start one of your own. It’s as simple as putting together a group of like-minded business owners who are willing to share their expertise and take an active interest in the success of other group members.

Here are some of my recommendations for putting a successful group together:

Not too big, not too small. Personally I would recommend between six and ten members; this is big enough to provide a variety of expertise, but small enough to allow each member sufficient time to discuss their own challenges in detail.

Consider the frequency. This is fairly subjective, and may depend on your group members and their objectives and commitments. I like bi-weekly as I find weekly to be too interruptive of my schedule, and monthly gives me too much time to procrastinate on my commitments.

Be selective. It is crucial that you select members for their ability to contribute something valuable, and unique, to other members. Although you may dislike the concept of ‘exclusivity’, if you end up with too many people who work in the same field, the depth of expertise at the table will be limited.

Design a firm format for meetings. As you can imagine, any meeting of enthusiastic, friendly people can easily turn into a social event. A formal agenda for the meetings will help to ensure that you stick to the business at hand. Here are some suggestions:

* Allow a specific amount of time at the beginning of the meeting for socializing and be disciplined about getting down to work at the appropriate time.

* Give each member a specific amount of time to discuss their challenges and solicit advice.

* Have each member set at least one specific, measurable goal with well-defined milestones to be achieved by the next meeting.

* Members should start their session by evaluating their progress on those milestone tasks. Accountability to the group is a great motivator.

* Some groups prefer to divide the time equally between group members. An alternative is for each member to have a short time at each meeting, with one particular member given the opportunity to spend more time brainstorming on a larger challenge, on a rotating basis.

* Designate a chairperson, or facilitator, who will be responsible for maintaining the schedule and keeping the meeting on track.

Whether you join an established group, or start your own, you’ll find that exposure to expertise, ideas and advice is an invaluable contribution to your business growth and your sanity.

 

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