Why Most Mastermind Peer Groups Flop & Fail?
Skye Khilji: One of the things I’ve noticed about masterminds being in them in the past is they’re not always effective. Accountability was about the only thing that I got from most of them. Your mastermind seem to be different and to be a lot more effective. Why do you think that is?
Rajesh Nagjee: There are several factors to make a successful mastermind. I’ll share two or three of the really, really important ones. First of all, there’s a constant training that’s required to keep grooming that mastermind, keep taking it to the next level. Number two, confidentiality is key. And what happens in normal masterminds that people come together is that there’s nothing at stake. You might leak something that happens in that mastermind without meaning to and then that kind of can really unravel everything. The fabric of a mastermind, the fabric of trust is what really makes it work. Now, because this is part of a program, part of a community where confidentiality is of paramount importance, that one breach and you’re permanently out of that community. You’re permanently out of that group. And that kind of holds people on course and keeps confidentiality absolutely powerful and everybody is very, very particular.
The third principle is that often in a mastermind, there will be attrition. Somebody moves on, somebody leaves the country, and so on and so forth. Because this is part of a group and a program, we are constantly able to offer new members in a mastermind to again top them up and make sure that they work. Because they’re part of a group again, they’re extremely well graded in terms of like for like, people with very similar challenges and growth cycles of their company. All of these factors make a mastermind successful. We pay very deep and minute attention to make these masterminds work.
Video reference number: 03200830 378582759