Business mastermind groups: Online vs offline

The explosion of social media in its many and varied forms has led a number of people to wonder: is there still a place for the business mastermind group? I firmly believe the answer is yes.

Back in mid-2006 Trish Weston introduced us to the concept and practical application of the Business Action Group (or BAG). Does the concept still have the same impact on the health and future of a business?

I read a Twitter post by Scott Stratten that said “Twitter is the reason why I haven’t joined a Mastermind Gp. Twitter is my mastermind gp 24/7”.

Now as a total Twitter addict and champion of all things social media, you’d think I’d be in agreement with him. However, from my own experience of how powerful an effect a business mastermind group can have on your business, drive and attitude, I can’t agree that social media channels can replace it.

Here are three key reasons for this.

Brain storming

One of the key factors of a business mastermind group is the natural and prolific brain storming that occurs at meetings.

I made a foray into the business mastermind arena lately and the results amazed me. Our very first get together produced an easy-flowing conversation that left us all feeling inspired and ready to get back to work and tackle some of the goals on our ‘have been putting this off for ages’ to do lists.

This discussion was very focused on the needs of the members of our business mastermind group, producing targeted solutions. Having spent more hours on Twitter than I am prepared to admit to, I appreciate that one of the biggest things about it is the sharing of the love. But, even though you can make real connections with people, this sharing is much more general than the natural sharing that you get from real-life, in-the-flesh, business friends.

Accountability

One of the key factors of the business mastermind group is accountability. At our last meeting we made a commitment to do one activity to move our businesses forward before our next meeting a month later.

Our group is very informal, and deliberately so, but this is a very important aspect.

As your own boss, when it comes to committing to actions that are going to benefit your business and take it in the direction you want it to go in, who do you report to? Not your Twitter friends or the people who visit your Facebook page, or your LinkedIn profile. If you tweet a goal, your followers may or may not register this, may or may not respond in some way, but they definitely won’t tweet you back in a month’s time to ask if you’ve done it.

Because our group’s accountability is informal, it’s up to us to remember what our goal for the month was.You can bet, though, that someone else will remember what it was you were supposed to do, or at the very least probe you until you admit what it was.

Human contact

Perhaps the single most important aspect of the business mastermind group is human contact and a sense of connection. Now, I know that there are mastermind groups out there that exist on a purely virtual level, mostly because of the location of the participants, but you can’t beat real, human, actual interaction, especially when you work solo.

Once a month, my business mastermind group meets at a local pub for lunch. We get to enjoy the pure social interaction of getting together with a bunch of really cool people, chewing the business fat and talking about footy results, family, what’s happening on the weekend or whatever topic happens to come up, just like they do in the ‘real’ world!

I understand and have experienced first hand the power of social media in the sharing of ideas and bringing a sense of community to the business world, even with people in the “other” hemisphere. I have even made connections with people locally that will hopefully develop into genuine business and personal relationships. But when it comes to sounding out my ideas and getting feedback that relates specifically to me and my business, I know who I’ll turn to first.

So are you inspired yet?

Karen Morris specialises in business to business communications using clear, straightforward language to deliver the right message directly to an audience.

01 Jul 09

Print this item

15 comments | Add your own 1 2 3 | Next» View all»

I wholly agree with your Karen. We are planning to bring some of our clients big & small together for a BAG. Business breakfasts are great too but can be impersonal especially when they are very large. Can't beat the personal touch. Jen Fitzgerald from Munro Accountants
I agree too and would love to get some business advice, but I find that Australian businesses think in very conservative and predictable ways. It would be nice to talk business practices and principles with our US, British and Asian counterparts because ultimately, we will have to deal with these people and they do have useful and very different things to add. Is there such an online thing? I guess it'd have to be online. Edwin James Lynch from Como
I have been a member of Business Masterminds for nearly two years now. When I started I didn't have a clue about business and now with the help of the group of 7 I can speak effectively about my business and I have my own board of directors to discuss business problems and brainstorm solutions.
We have a structured range of topics each week and when we have visitors to the group this adds an extra dimension to the discussion.
I highly recommend anyone in business joint some sort of business masterminds group. Mine can be found at www.businessmasterminds.com.au but I am sure there must be others around. Trish from Inner West, Sydney
I agree specially if your business is for local customers. If the business is international the view and comments of other nations can be different and is as important. In this case online comes in handy for fast and easy contacts. Saba from Brisbane, Australia
A business masterminds can also help you gain vaulable insights on how to grow your business. It can help you generate new ideas, others can act as a sounding board for decisions your unsure about. You can share your knowledge and learn from others. It can also help you gain different perspectives on how to develop your business. You can learn the success techniques that other business owners use as well as what not to do in business. You can gain support and encouragement. Develop inche wide, mile deep relationships that open up opportunities that you wouldn't normally get in superficial relationships. With the right mix they'll want to help you succeed just as much as they want themselves too. Angelique Milojevic from Sydney
Both online and offline communication can benefit your business by increasing your brand awareness and educating new customers about your products.
Examining your company purpose and its range of products and services will provide you with a direction you should be focussing on in relation to your marketing.
A company with products available for purchase from the website benefits by attracting new customers online.
For a company offering services, personal recommendations, with one of the best forms being face to face, may suit your style, using your website for brand awareness and offering advice. Belinda Cook from Melbourne

15 comments | Add your own 1 2 3 | Next» View all»

Add Your comments

Preview comment

Name

Website *

Town / city and country

Email (never sold, displayed or given away)

* This will link your name to your site. So please avoid self promotion elsewhere! We delete spam, disrespectful or off-topic comments.