For anyone who has setup a "Personal Advisory Board" or "Success Circle" - how did you structure it to start off productively?
The first meeting or two may be a bit awkward until there is some momentum, or a certain comfort level with the group.
I am interested in setting one up, and seek some advise on how to do this properly.
Good Answers (4)
Kate T.
Market & social quantitative researcher
Best Answers in: Small Business (2), Mentoring (1), Starting Up (1)
Hi Charles,
I have set up an Advisory Board and a Mastermind group for my business.
The Mastermind group started at the beginning of this year. I invited 3 business owners I knew, (but didn't know each other), with non-competing businesses, and different skills.
At the first meeting everyone gave an overview of their business and how they came to starting it up. I researched Mastermind groups on the internet and provided a summary.
The group then decided that:
- we would meet monthly for 2 hours in the city
- an hour at each meeting would cover an issue in a person's business, that they would like to discuss. The issue is emailed out prior to the meeting so that it could be considered. (ie: so each meeting covered 2 businesses).
- if there are issues with another member then people can be asked to leave and people are free to leave themselves if they don't feel it is beneficial (neither has happened yet).
Another person was then invited to join the group and they were happy with the decisions already made.
While many of the groups I read about had confidentiality agreements we don't operate with one.
Our first meeting wasn't awkward, everyone was excited by the opportunity and accepted the consensus of the majority.
For me, the Mastermind group is useful for getting other business owners views and ideas not limited by possible consequences.
The Advisory Board was set up this time last year and meets every 6 weeks. I use this meeting more for strategic and financial issues - where the ideas are limited by possible consequences in the business - so they limit the ideas down to the strategic direction to take.
Ground rules were set up quickly at the first meeting of the Advisory Board which is largely my family and a close friend. This doesn't necessarily make things easier though. We initially had technical issues as we used Skype to connect people in NYC, Sydney CBD and outer Sydney.
Hope that helps!
Kate.
I would also like to establish a Mastermind group.
Jack Canfield's "The Success Principles" Principle 46 - Mastermind Your Way to Success" provides an outline for setting up a group. I also have a pdf outline for setting up a running a Mastermind group but I don't know if it is available as a download anywhere. I would be happy to share it with you.
Links:
Peter N.
Business consultant/trainer (omnidigitalbrain@yahoo.com)
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This Mastermind Group, from Napoleon Hill's book Think and Grow Rich, is a great idea. I talk to my business partner almost every day, and it produces great results.
A group like the kind you mention, might be greatly beneficial to all involved. Ning.com might be a good place to check out what other people are doing. Some have created exciting groups online.
Julia M.
Senior Executive Coach, Writer
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Charles,
An advisory board is a great idea. Just choose people as passionate about what you are doing as you are who will stand behind you. Be clear on your objectives, as well as your expectations of the board, so they knwo what they are committing to.
A MasterMind Group is another good idea, is totally different from an advisory board, but can provide support, ideas, and accountabillity. You need to know how to form one that will stay together (most decay after a short time due to lack of understanding and commitment). And a MasterMind Group is a give and take; you must be able to receive and to contribute to everyone else in the group. Choose a facilitated one, or start your own and have someone dedicated facilitate it. If you want, I can run you through a quick Webex on how to start your own so that it stays together. (Just contact me off line).
Another idea might be to get a good business coach once you are clear on where you are trying to go with this whole thing.
Also, there are CEO peer coaching groups that are well-facilitated and include some structure and personal coaching all combined.
There are many good variations on a theme out there in the world today, depending on what you are trying to accomplish.
I am happy to talk off line. I have a lot of experience facilitating MasterMind groups and other business groups.
To your success,
Coach Julia
