What is a Mastermind, Anyway? (What You Need to Know About Joining a Mastermind)

If you’ve been in the business world for over a hot minute, you’ve probably heard people discussing joining a mastermind. However, if you’ve never been a part of one, you may have wondered what exactly a mastermind is or what happens in these communities. 

Fact: Being an entrepreneur and running a business can be lonely. People often look towards mastermind groups in a quest to find a community.

As someone who has run masterminds for nearly a decade, I know how much value these groups can offer people—as long as they find the right fit.  

To help you make the best decision for your business, I’m breaking down what you need to know before you join a mastermind.

What is a Mastermind?

Let’s start by being clear on what a mastermind isn’t. It’s not a course, coaching program or membership community. While you may have access to course material or some coaching, consulting and/or mentorship through the group you join, that’s not the primary focus. 

A mastermind is a group that offers a mix of accountability, support and idea-sharing to help everyone in the group achieve success. Think of it like peer-to-peer mentoring, where you work together to solve problems.  

A mastermind group for entrepreneurs is focused not just on your success but also on that of the group and bringing your best to everyone involved.

It’s really and truly about the collective. You aren’t operating in isolation — you’re in a community with people with similar challenges, and you get the group’s brainpower to help you solve problems and develop solutions and strategies to achieve your goals. 

Masterminds can be paid or unpaid, so if you’re going the route of a paid group, there are some very specific questions you’ll want answered before you join. (More on that later.)

Why Join a Mastermind?

Mastermind groups can offer many benefits, but the reasons you might need or want to join one can vary. 

Running a business can be isolating, especially when others don’t fully understand your work or business. For example, I run masterminds for service-based business owners, mainly solopreneurs and micro agency owners. Within groups, people understand the business model, it’s challenges and find it refreshing to be with people who get it. 

Some other common reasons people choose to join a mastermind include:

#1. Being Accountable

Accountability is one of the most significant benefits of being in a mastermind group. As a business owner, you’re responsible for setting and meeting your goals, but without a manager or team to hold you accountable, it’s easy to let those goals slip. (Especially if you’re a solopreneur!) 

In a mastermind, your fellow members become your accountability partners, helping you stay on track and follow through. Whether pitching a new client or launching a project, sharing your plans with the group means they’ll check in, offer support, and ensure progress—turning your intentions into tangible, measurable actions.

#2. Expanding Your Network

Networking is a powerful benefit of joining a mastermind group, providing a unique environment to build meaningful and lasting relationships. Unlike traditional networking events, where connections can feel transactional, mastermind groups enable members to truly get to know each other on a deeper level over time.

Fellow members learn who you are, understand the value you bring, and appreciate your expertise. 

This familiarity builds a strong foundation of trust, which can naturally lead to a solid network you can look to for business referrals, collaborations, or even direct hiring. The relationships you form in a mastermind often become professional connections, friendships, and partnerships that support your growth and success in ways few other networking opportunities can match.

#3. Discovering New Possibilities

Another advantage of joining a mastermind group is discovering new possibilities and perspectives that can reshape your business. When you engage in open, candid conversations with other business owners, you gain access to their experiences, insights, and approaches. These discussions can be eye-opening, highlighting opportunities or strategies you may have never considered.

For instance, you might find out that your pricing structure is holding you back and realize the potential of charging what your services are truly worth. You may learn about innovative ways to package or deliver services that attract more clients or create added value. Or, you might see how other members successfully set boundaries with clients—something you may have thought was impossible in your own business.

These insights aren’t just theoretical; they often provide actionable steps you can take to improve your business. Your peers are a powerful source of fresh ideas that can help you reimagine your business and explore possibilities you may not have even thought of yet.

#4. Getting Feedback and Input

When joining a mastermind, you gain access to honest feedback and fresh input from people who understand your entrepreneurial struggles. As a business owner, you’re likely brimming with ideas, whether launching a new service, targeting a new industry, or trying something bold like starting a podcast. However, with objective feedback, it can be easier to evaluate these ideas effectively.

In a mastermind group, you can present your ideas to others with relevant experience or insights. They can share practical advice, highlight potential pitfalls, or suggest improvements, drawing on their business experience. This input is valuable because it comes from peers who understand your challenges and want to help you succeed.

With this feedback loop, you’re better equipped to turn your ideas into viable, impactful actions. (Or not pursue that wild idea that will be a colossal waste of time.)

#5. Expanding Your Approach

Joining a mastermind group is an opportunity to expand your perspective on your business by surrounding yourself with driven, goal-oriented people at a similar business stage. 

When you consistently engage with others actively working on their business, setting goals, and making real progress, it can inspire you to do the same. The encouragement, insights, and accountability you receive from a mastermind can transform your mindset and business strategy.However, finding a mastermind aligned with your business goals is essential to leveraging this benefit.

Consider what areas you want to improve—refining your marketing, boosting sales, or finding work-life balance. Then, choose a group that supports these objectives and challenges you to work smarter. The right mastermind will support your growth and encourage you to envision what business success looks like for you.

How Do You Find the Right Mastermind?

Joining a mastermind can enhance your business in many ways, but the best fit depends on your current needs, business stage, and challenges. Whether you’re a startup, scaling quickly, or seeking work-life balance, your goals shape what you’ll gain. 

Consider how a mastermind can support you, how you’ll connect with others, and the value you can bring to the group. 

Most importantly, before joining a mastermind group, you must be clear on what you’re getting before signing on the dotted line, which is critical.

Things to investigate:

• Do you get 1:1 time and support with the mastermind leader? 
• How engaged is the mastermind leader with the group?
• What experiences and credibility do they have to offer? 
• How many people will be in the group? 
• How are they screening people for fit?
• How often do you meet? What’s the schedule? 
• What are the requirements for participating in the group?
• How is the group structured or run?
• Is there a community agreement in place? 
• What’s the cost involved? 
• Is there a payment plan or do you pay upfront?
• What are the expectations for group members? 

Even if your investment isn’t huge, by asking all of these questions upfront, you can save yourself potential frustration later on. Not every mastermind offers the same thing, so you’ll want to choose one that aligns with what you’re trying to achieve in your business. 

Being in a community that brings you value and is a good use of time can also hinge on being with the right people. Finding a mastermind group that includes people who share your values and are at a similar business stage will significantly enhance your experience. 

When thinking about who you want to be in a mastermind group with, I suggest you consider:

• Are you looking for business owners who are using the same type of business model? E.g. Solo business owners or micro agency owners.
• Do you want to mastermind with other people who do what you do?
  • We don’t mean precisely the same, but are they service-based businesses or course-based or product-based?  
• Would you prefer a variety of industries?
• What types of personalities do you mesh with? Will you be comfortable sharing the ins and outs with these people? 
• How much time is required from you on an ongoing basis. 
• If you’re well-suited to the group’s format. (For example, if you need 1:1 support, and the group doesn’t include it, it may not be the right fit.
• Do these individuals share my values? 

One mistake you don’t want to make when joining a mastermind group is getting caught up in big, bold income claims about how it can help you. Just because someone claims it can help you reach a specific revenue goal doesn’t mean it’s a sure thing.

I’ve always found that focusing on being in a community with people with a similar business model is much more effective than people with similar revenue. 

If you’re considering joining a paid mastermind, you need to consider it an investment. Like any other financial investment, doing your due diligence before you buy is critical. 

Join a Mastermind That Aligns with Your Values and Goals

Ultimately, joining a mastermind group can be a step forward for your business —bringing you closer to achieving your goals through shared insights, support, and accountability. 

But as with any investment in your business, finding the right group is essential. Remember, a mastermind isn’t a one-size-fits-all solution; it’s about building a community that aligns with your values, business model, and personal growth needs. 

Asking the right questions and thoughtfully evaluating potential groups can set you up for an enriching experience that boosts your business and expands your community.