5 Red Flags To Watch For When Joining A Mastermind
August 15, 2023
When asked whether you felt Mastermind groups were valuable, boy did most respond positively in favor of them! It’s great news that so many people have had positive experiences with Mastermind groups instead of encountering a lot of red flags that warn them that they’re joining something they might regret.
A great Mastermind group – where small groups of like minds and backgrounds put their collective brainpower towards goal achievement – can be a wonderful thing. A bad Mastermind group, on the other hand, can be a nightmare.
How do you know the difference between a good Mastermind group and a bad one? In the last 25 years, I’ve been able to put together a decent list of red flags you should watch out for when you consider whether or not to spend your time in a Mastermind.
The Mastermind group is too generic and/or too big
First off: Mastermind groups should be SMALL. No more than 10 people. Too many voices and too many ideas makes it hard to accomplish anything at all. Pretty straightforward, right?
Next: It should go without saying that no two businesses are alike, right? Your brokerage is not the same as a car sales lot or a computer store. Luxury sales teams likewise have little in common with ones focused on a different clientele. A Mastermind should have a screened group of members. Make sure the Mastermind is comprised of a true group of your peers, so that your goals properly align.
The Mastermind group casually suggests changing cornerstones of your business
Even when you are in a group of your peers and you think your goals align, remember again: no two businesses are truly alike. When you receive advice about making changes, you have to evaluate whether or not this change affects something critical. And this isn’t to say that critical changes should never be made but go in with your eyes wide open.
Small changes are tolerable, but changes to cornerstones of your business can be extremely disruptive. They can also cost you lots of money. Know your business, recognize who you are, and be cautious of change that might not be right for you.
The Moderator is weak or treats the Mastermind like a class
There can be a lot of big egos and big idea people at a Mastermind. While it’s possible they can have wonderful ideas and be completely deserving of their big ego, they may not know when to cede the floor and monopolize the conversations, drowning out equally good ideas or counterthought. So, the moderator of the Mastermind has to be powerful in their own right. They have to lead and not just let big mouths and big egos run roughshod.
Equally counterproductive is when the Moderator themself has the biggest ego in the room. This isn’t their lecture hall. If the Moderator spends all their time talking at you instead of letting others speak, run.
The members aren’t committed and aren’t held accountable for their lack
If the members show up distracted – or worse, they don’t show up regularly at all – ask yourself if this Mastermind is worth your time. Remember those high school and university group projects where one person ended up doing all the work? It’s hard to achieve goals in an unequal group partnership.
If these dilettantes are not held accountable by their peers when they don’t help get things done, this Mastermind group is going nowhere.
The group doesn’t feel safe
A real Mastermind group is a safe place for its members to talk. If they feel like their competitors are listening in just to take advantage of their problems or challenges, the space is not safe.
The same goes for fear of rejection. Even bad ideas tossed about can lead to good ones people might not think of. If members are afraid of ridicule, they won’t want to talk very much, will they? It hinders the whole flow of sharing and progress.
And that, my friends, is my caution and list of red flags to watch out for when you attend Mastermind groups! If you’re looking for new ideas, we might be able to help you out. Fill out our form to contact us, and let us work with you to find the right program and coach!