Peer to Peer executive boards are growing in popularity – but how do you achieve maximum value from participating in a ‘Mastermind’ group?

 The recent webinar from The Alpha Group on ‘Peer to Peer executive boards’ demonstrated how many business owners around the world are now using the peer to peer executive board process to fill in gaps in their knowledge.

Despite each of the participants in these boards being highly intelligent, accomplished and knowledgeable people in their own right, their greatest strength is recognizing the importance of what they DON’T know – yet. By taking part in a peer to peer executive board, they become part of a larger collaborative brain with a wealth of shared experience and expertise to draw upon.

This ‘Mastermind’ principle this has been around for a long time. In his book ‘Think and Grow Rich’ (1930), Napoleon Hill wrote: “…no two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind”, or ‘Mastermind’. During a crisis, we humans can be very creative and, when we work together with a group of people focused on solving the same problem, we can design amazing solutions. At times like these, we can turn fear into excitement and harness our fear of the unknown to perform at our very best. 

 How to get maximum value from a Mastermind group

As with every product or service, Masterminds are being offered by many various suppliers. Anybody can facilitate a Mastermind and anybody can attend a Mastermind but will it provide value? How do you choose the group that is right for you? The criteria that most people user is price, but that is usually a mistake.  Many moons ago, I worked for a paper manufacturer. It was there that I learned the importance of process and the ability to execute a process consistently so that all customers receive value. In the manufacturing world, potential clients review the production process and the ability of the supplier to execute that process consistently so that every client receives the same quality in every product. Evaluating a service should be no different.  In terms of evaluating which ‘Mastermind’ group to join, I suggest you look for a supplier that follows a structured process where everybody provides input, everyone offers solutions and there is enough trust among the members to ask the difficult questions.  Executive boards that use a structured process and tap into the creative process will provide unique solutions for your business problems by providing:

Honest feedback

When a peer member asks for unfiltered feedback, he or she gets just that. Truth can be hard to swallow sometimes, but it is good for business leaders to have their ideas challenged sometimes.

Guidance

The executive board allows the executive to create their own personal guidance system. This steering committee of seasoned pros can be helpful when charting a course through difficult waters.

Safe haven

Confidentiality allows each member to be totally open about issues. It provides a safe environment where a CEO can work through topics that he or she is unable to discuss with others directly associated with their business.

Solid reasoning

When an executive board is working on a challenge for one of their members, having diverse perspectives can pay huge dividends for the quality of the discussion and the depth of the exploration undertaken.

 You’re not alone

As an Alpha Group Regional Director, I work with management of an organization to help set vision, strategy and objectives. As a change facilitator, I work with the people inside the organization to implement this vision, to build resilience and emotional intelligence for the people to see the opportunities and create extraordinary results.  Which of these would make your business thrive?

? Advice from a team of qualified, like-minded individuals, ensuring that your business has a variety of opinions to consider and is not totally reliant on one voice for inspiration.

? A chance to brainstorm strategies that have the potential to increase turnover.

? An opportunity to focus on strategy: topics of key business growth rather than just day-to-day tasks and putting out fires.

? Security of knowing that when your organization meets challenges, they will not be faced alone.

? Confidence that your organization is well-run and a belief that decisions have been fully investigated.

? Renewed motivation leading to increased performance and optimism so you and your staff can achieve your full potential.

? Ideas that help crystallize your personal vision.

? Achieve appropriate financial rewards and freedom.

? Share experiences and knowledge, leading to a broader perspective and increased network.

? Personal satisfaction and pride, as a member of a high-achieving, aspirational group along with the chance to make trusted new friends and mentors.

? Work-life balance that makes sense.

 If you are ready to create the organization that will inspire your staff, email me at [email protected]