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There are three clear benefits of being a part of a mastermind: Growth. By surrounding yourself with folks who can provide you with informed advice, qualified referrals, and critical constructive feedback on your failures in a safe space, you are setting yourself up with the resources and guidance you need to focus on growing your business. Hopefully there’s at least one other person on each call who has more experience in a specific area than you do. There are some things in my business that I’m pretty damn confident I’m good at. But I know I have blind spots in other areas. I can bring those things to my mastermind because they don’t have the same blind spots. Accountability. As many solo founders know, keeping yourself accountable with no outside forces can be challenging. During most mastermind meetings, there is a point in time when each member is in the hot seat, discussing past goals and their progress, setting new goals and tracking them, and reporting back to the other members with updates along the way. By asking your group to keep you accountable to your business, you’re also committing to holding them accountable. A good mastermind also forces you to look at your weaknesses. You can bring your weakest attributes in front of this small group of trusted individuals who know your story, your revenue, your growth rate, and all your foibles—personally and professionally. Your mastermind will tell you things that if your spouse said them, you’d ignore them. (Ask my wife about that.) Support. Humans are social beings. Napoleon Hill says that the convergence of two individual minds creates a third, invisible force that combines the strength of both of its components. When you share your vulnerabilities and successes with others, you magnify your own experience and make it the experience of those around you. The power that comes from those shared experiences can be just as compelling and empowering as your individual success. Three of my favorite entrepreneurial communities are Indie Hackers, the Dynamite Circle, and of course, MicroConf.
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Rob Walling (The SaaS Playbook: Build a Multimillion-Dollar Startup Without Venture Capital)