MasterMinding and Saving Face

by jtcote on March 6, 2009

in Business,Podcasts,Social Media

mastermindgroupDo you ever get a really great idea?

You know one of those huge lightning strike kind of ideas that you’re convinced will change the world.

So what do you do next?  You research.  You try to find out if anyone else has thought about it.

You google everything you can imagine related to the idea.  Most of the time you find out it’s already been done or somebody is already developing it.

But sometimes, just sometimes, every once in awhile, you have an idea that no one has thought about or at least if they have, they’re not in action about it as far as you can determine.

So you run to the phone, you send an email, you get on twitter, you wall to wall on facebook….Why?  To ask your mastermind group of course.

You think you’ve got one, the big fish, the viral application, the idea that will finally bring your name into digital format and make the world a better place.

You’re so excited you even sound out of breath to the folks reading your updated status,

hey I’ve got the most amazing idea, you won’t believe it, you gotta DM me ASAP

In the next few minutes you get everyone on skype.  Your most trusted colleagues with libraries of knowledge and expertise.  You give them the executive summary, cut to the chase, deliver your revolutionary concept.  You make a great presentation…..then there’s silence.

Then, the first questions come.  Then more questions, then obstacles, issues, roadblocks.  Your mastermind group raises every concern you have not yet even considered about your new idea.

Every question from marketing to technology and development to distribution.  You digest the feedback and further the discussion. You listen and take all of your friends criticism to heart and eventually come to the final question;

“Is your idea worth pursuing or not?”

You’re one-of-a-kind concept very well may be worth writing up and beginning the process of a new venture.  OR it may not.  You may have discovered there are so many pitfalls, that its not even worth the risk.

Whatever your decision, you learned a valuable lesson. The power of your network .

You utilized your beta testers to prove whether your idea has merit or not, and in doing so, validated the indispensable asset of your mastermind group.

If you don’t have a Mastermind Group, Get One!

Starting a mastermind group may seem to be a daunting task, when in actuality it can be very simple.  You probably already know half a dozen or so folks that give you great feedback everyday.  Look at your friends, your co-workers, even your clients.

Many of the people you currently associate with on a daily basis have beneficial knowledge and experience.   Its just a matter of organizing a set date and time to chat.

Make it informal and make it fun.  Have a rotating schedule based on the number in your group where each person can have an equal opportunity.  Utilize web conferencing technology for convenience and a comfortable environment for in depth discussions.

No one minds giving advice and consulting with a friend, when they can sit home in their pj’s with a cup of coffee on Sunday afternoon.

Most of us really enjoy it!

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