Forming a Mastermind Group

August 18, 2018 FĒNX Digital

Mastermind Groups: How to Find or Form a Mastermind Group

What if I told you that you can put yourself in a better position to succeed by simply sharing your time, either once a week or once a month, with other like-minded and motivated individuals?

Successful individuals such as Benjamin Franklin, J.R.R. Tolkien, Henry Ford and Thomas Edison, all met with groups of like-minded people on a regular basis, to help one another achieve common goals and grow. Today, this is called a “mastermind”, first coined by Napoleon Hill in 1925. In this article, I’m going to go over what a mastermind group is, how it can benefit you and your business, and how to form one, step-by-step.

Thomas Edison (left) and Henry Ford (right)

What is a mastermind?

A mastermind is a peer-mentoring group of individuals who meet on a regular basis (in-person or virtually) to push each other to work to their highest potential and hold each other accountable. Many successful entrepreneurs today, from Bill Gates to Pat Flynn, use masterminds to help grow their business and work on their personal development.

You’ve heard it time and time again. It’s cheaper to get current customers to make a repeat purchase than it is to find new customers. It’s true for many businesses, especially in the crowded ecommerce arena where clicks and conversions always seem to be increasing in cost.

When was the last time you made an effort to re-engage customers to get them to come back? If you’ve yet to market to current customers after the sale, now is a good time to build a cohesive strategy for customer retention. Let’s look at how to get started.

 

Read more by checking out Corey Ferreira’s post on the Shopify Blog: https://www.shopify.com/blog/34508933-why-a-mastermind-group-can-accelerate-your-success-and-how-to-form-one

 

Corey Ferreira is a passionate entrepreneur, coconut water lover, and content creator at Shopify.

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