I know it is sometimes difficult for service providers to have a business coach. That is why, in this article, I want to share a new way that you can receive many of the benefits of business coaching within a mastermind group coaching environment. So, what is mastermind group coaching?
First, let’s discuss what group coaching is in general. Group coaching is very similar to mastermind group coaching which is about bringing together a small group for a specific period (6 – 12 weeks) to help the individuals achieve specific goals.
“Group coaching is a form of coaching that involves bringing together a small group of individuals to work on similar goals or challenges. Instead of one-on-one coaching, group coaching offers a unique opportunity to learn, grow and develop alongside others who share similar experiences.”-CHRISTOPHER PAYNE
Mastermind Group Coaching
I think there are many different forms of masterminds out there. Many meet for specific times to accomplish specific goals, like group coaching, however, these groups are usually a little higher ticketed.
A general Mastermind Group: “A mastermind is essentially a small group of people (generally about 10 members) who share the same values, come from similar backgrounds, or have the same goal in mind. The purpose of the mastermind is to provide peer support, brainstorm ideas, and offer a safe space for communication.” (Heights)
My Mastermind Group Coaching program is a high-level free-flowing group that meets weekly. I open up opportunities for each business owner to share the problems, decisions, or struggles they are facing each week. We also rejoice together in wins. The input is well-rounded and helps each person attending to focus on their business and to keep moving forward. Facilitated by myself, a business coach, with over 15 years of business experience.
There are many benefits to this type of coaching program. Let’s discuss these next.
Economical Answer to Business Coaching
Group coaching programs are an economical way to receive business coaching if you cannot yet afford 1-on-1 business coaching. You will gain insight from the business coach who is facilitating. This also helps you get to know the coach a little better so that when you can afford it you know whether or not you want to do 1-on-1 coaching with them.
I think one of the best benefits a mastermind group coaching program offers is accountability. If the hosting coach encourages members to set regular goals and keeps them accountable that is a huge benefit. Often business owners do not reach their goals and dreams because they are not able to keep themselves accountable.
Meet New Colleagues
In any business coaching group, you have the opportunity to meet new colleagues who may be in similar industries. This also means that they understand and go through (or have gone through) similar issues you may be facing.
Form Strategic and Referral Partnerships
I encourage all of my group members to try to form strategic or referral partnerships*. This can help both parties. If you do not offer the services someone else does then if you have a client that needs those services you can refer them to the other person (referral partner).
*read the linked article to learn more
Have Input and Share Knowledge
There is something satisfying in sharing your knowledge with others. Notice I did not say opinion (she chuckles) as too often that is what is shared. Try to share what you have learned through your business, courses taken, or articles read. It is important that you are able to have input into the group discussion.
Personal and Business Growth
There is always growth both personally and for your business in a group coaching environment. You may not see it immediately but you will see it. This setting gives you a depth and understanding of business in general that you do not often receive elsewhere.
Go to your group experience with an openness to learn and receive as well as a willingness to share. You will learn not only from the coach who is running it but also from those attending.
Support and Comradery
You receive support and encouragement as well as comradery within the group. Many form friendships outside the group as well to support one another in between group sessions.
It is also helpful to know you are not alone and that others have experienced similar things are you going through now.
Helps You Think Out Of The Box
One of the ways you benefit from mastermind group coaching is that you begin to think out of your comfort zone. It is often this out-of-the-box thinking that helps your creativity and ideas to flow. You will also grow in wisdom and business common sense. This will stretch you further still. Be willing to step out in it.
Mastermind Group Coaching Opportunity
If you are intrigued by the idea of Mastermind Group Coaching please join us in our group on Fridays at 1:00 PM, Eastern Time.
We are waiting for you!
(click below to join)