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5 Reasons Every Entrepreneur Needs a Mastermind Group

“The key is to keep company only with people who uplift you, whose presence calls forth your best.”

~ Epictetus

If you're an entrepreneur, business owner, solo-preneur, side hustler, or any other breed of go-getter who's looking to improve their performance and reach new heights both in their business as well as in your personal life, and you're not part of a mastermind group, then you're leaving a lot of money and insights on the table.

If you're unfamiliar with the concept of a mastermind, it's basically a small group of like-minded individuals holding each other accountable to their big goals while sharing ideas and insights with each other over some extended amount of time.

It's a space to be vulnerable so the trusted co-members can help you turn your weaknesses into strengths.

Some masterminds are virtual, while some are in person. Some have just a few members, some reach into the thousands.

However a mastermind is structured, a high quality mastermind is going to be invaluable towards your growth for at least 5 main reasons.

The 5 Reasons Every Entrepreneur Needs a Mastermind

1. Receive Unlimited New Business Insights

Do you read?

If so, consider why.

If you're like most entrepreneurs, you read to gain new ideas you didn't have access to before. They existed out there in the world, but until you opened that specific book and read it for yourself, you didn't know the ideas and couldn't possibly implement them.

Well being part of a mastermind is like having the best points of all the best books out there given to you all at once.

Instead of reading 1 book about marketing, you go into the mastermind meeting and say, "I'm struggling with marketing."

And you get 100 new and insightful ideas about marketing specifically around your business that have been tried and testing by other entrepreneurs in various industries and walk away understanding what to implement in yours.

2. Be Held Accountable

Not all masterminds treat accountability the same way.

You're going to want to find one that puts it at the core of how they operate so that you can not just have access to a bunch of good ideas, but so that you can be held powerfully accountable to actually implementing those good ideas.

How many times have you heard a good idea and then done nothing about it?

How many times have you heard a good idea, and thought, "Wow, I should definitely do that." Only to not actually produce anything.

Being held powerfully accountable to taking action by a group of respected peers in a mastermind is the number one way to ensure you make consistent forward progress towards your goals.

3. Be Part of a Community

Entrepreneurship can be lonely.

No time for your friends and family. Plus, none of them are as ambitious as you and you don't share the same interests any more.

You hate wasting time in meaningless conversations.

Being part of a mastermind filled with entrepreneurs is key to finding a community of likeminded individuals who all care about the same things you do; business growth, personal growth, and personal freedom!

When people join our mastermind community, they join a tribe for life. Members consistently say they feel like they found a brotherhood or a new family .

When you're the leader of a business, you can't necessarily confide in your employees or team about your worries and fears.

You certainly don't want to always be taking that home and ranting to your partner or spouse.

You need a place to talk about what's really on your mind where people who can understand will listen and offer helpful and supportive feedback.

Joining a mastermind community for entrepreneurs is the best way to find your tribe.

4. Collaborate on New Projects

While any good mastermind community will have a strict "No Pitching" policy, it's only natural for likeminded individuals to see opportunity in similar business ideas.

For example, one of our mastermind members is commercial real estate investor buying up large venues left and right, and another member was a scaling an events business.

While the properties were still on the market, they would hold local events in those spaces and share the earnings.

Another great example is that we have someone who recently started a new web development business in our community, and within the first 30 days was approached by 2 other members to build high value websites for their respective companies.

The opportunities to collaborate with like minded individuals is endless in a mastermind.

5. Be Challenged

Let's face it, until you join your first mastermind, most people are only talking to their current friends and family about their goals.

And specifically because those people love you, or at least like you, they don't want to say anything that might rub you the wrong way and potentially ruin the relationship.

Masterminds are all about consistently challenging you to become the best version of yourself and the best CEO you can be.

That means calling you out on your bullshit.

That means asking the uncomfortable questions.

The goal of the Mastermind is to have its members grow and succeed.

We do not achieve either of those things by letting you continue to bring your excuses to the table week after week.

And these are just a few of the many invaluable benefits from being part of a trusted mastermind.

If you're a part of a mastermind, what's your favorite thing about it?

If you're not part of a mastermind and you want to take your business and life to the next level, click HERE to change that today.

Here's to you Actualizing Your Potential!


With gratitude,

Dennis McGinley

Founder and CEO @ STRIVENT

"Actualize your Potential!"


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1. Mastermind: STRIVENT Masterminds are 90 day programs that bring together small groups of the most ambitious and inspiring Entrepreneurs, Freelancers, Consultants and other Leaders to hold each other powerfully accountable to their big goals while sharing insights and lessons from successes and failures along the way.

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