The Power of a Mastermind Group

by Sophia Bera on February 27, 2014

There is something amazing about being with a group of people that understand what you’re trying to contribute to this world in a way that no one else can. I spent the last three days in San Diego with my mastermind group. We call ourselves the FP Hackers. We are a small group of young financial planners across the country that launched our own firms in the last two years. We decided to team up to share ideas, give each other feedback, and propel our businesses forward. However, the unintended result is that we’re shaking up the traditional financial planning model in the process. While most people would discourage you from collaborating with your competitors, I think it’s the best thing you can do to for your business.

After brainstorming, envisioning, collaborating and drinking with this group, I feel empowered, encouraged and of course, exhausted. This is the most innovative, creative, supportive, and insanely smart group that I’ve ever been a part of. I wish we all lived in the same city so we could meet up every week in person instead of via a Google Hangout. A part of me is excited to be heading home and another part of me feels melancholy.

For three days, Mary Beth hosted four of us in her two-bedroom condo and it has to be one of top slumber parties of my life! I was with people that understand me and my business on a level that even my family and friends will never fully comprehend. Yes, my family and friends support me and love me but they can’t be excited for me in the same way that my mastermind group is. FP Hackers knows why I’m giddy that my guest post on company benefits was published on Jean Chatzky’s website on Wednesday and that I’m even more pumped because she tweeted me the article! I love sharing with them that while we were in San Diego, three prospects contacted me, four reporters want to quote me, and another financial planner set up a coaching call with me. The coolest thing about our group is that they inspire me to reach even higher because of all the incredibly work they are contributing to the world.

Sometimes when you’re an entrepreneur, freelancer, or small business owner, you feel like you’re on an island. You don’t know whom to turn to when you have a question, are feeling overwhelmed, or just need new ideas of how you can grow your business. If you feel this way, a mastermind group can help for so many reasons and I highly encourage you to start a group of your own. Find people who inspire you across the country and reach out to them to see if they might want to team up for weekly Google Hangout or Skype call so you can learn from each other. I’m certain you won’t regret it.