Accountability Partners, Masterminds, and Coaches

October 20, 2015

 

Just because you went into business for yourself, doesn’t mean you need to be in business by yourself.

 

Your greatest success is when you realize, you don’t have to do it all alone, and by bringing people into the vision you have for your business and letting them hold you accountable, your success will increase exponentially.

 

Following are 3 ways you can get more support in your business:

 

Accountability Partner – this is one person who holds you accountable to do what you say you will do, and you do the same for her.  You both need to be able to hold the space while the other one wrestles through something in their business. Be crystal clear that your job is not to save one another.

 

Efficient weekly check ins are the secret to this relationship – starting each Monday morning with your call and then ending your week with something as simple as a text – to say yep, I got my stuff done. 

 

Keep your beginning of the week check in to no more than 30 minutes. That gives each of you 15 minutes to report in on how things went, what the real big commitments are for the week and ask for the support you need.

 

Mastermind Group – this is a small group – I think 4 is the perfect size as it allows for good group conversation, everyone getting a “turn” and easy facilitation by the group with feedback and sharing of resources and connections.

 

There must be a high level of trust in this group, so everyone can show and be ALL in.  What is said here is completely confidential, so the trust must be complete, it’s the old saying with a modification, “what is said in the Mastermind must stay in the Mastermind.”

 

Masterminds can be paid or free.  If there is money involved, there is typically an application process and the money goes to a facilitator/coach – someone who is not a participant and whose job it is to keep the conversation moving – in many ways it is similar to an elite group coaching program.

 

My Mastermind or Board of Direction, as we call it – meets in person one time per month for 3 hours.

 

Here’s the agenda we follow:

8:30-9:00 quick check in by each person (each of us uses 5-7 minutes.  This is a bit more of the social piece, how are the misters in everyone’s lives?  How are our parents, updates on children, those types of things – it then lets us keep the main thing the main thing.

 

Each person then gets 30 minutes to present their update and ask for guidance/resources or support and receive group feedback. Typically each person only uses about 20 minutes of their time to provide updates and present the area they want support with, and the final 10 minutes are the other members exploring ideas and sharing resources. Here’s our time break down – and yes, we use a timer.

 

  • 9:00-9:30

  • 9:35-10:05

  • 10:15-10:45

  • 10:50-11:20

 

We take this as a very serious business meeting, each of us supporting one another, calling each other on our ridiculousness and celebrating the wins, large and small.

 

You can certainly do this virtually, leveraging Google Hangouts as an example.  But if you are in the same community, I’d recommend in person. 

 

These dates are immovable, and expectations should be set – in terms of attendance and if someone is missing more than this group agrees is acceptable.  Then they should be replaced.

Take your time filling your Accountability Group initially, and don’t rush to replace when someone leaves.

 

Creating a letter of commitment that each member signs when joining the Mastermind is symbolic and cements commitment.

 

As the group matures, consider adding a Statement of Values.

 

Business Coach – Your coach is someone you pay to hold you accountable, support you as you make decisions, provide guidance, and use their area of expertise to support your success. 

 

I coach my clients on how to accelerate their business growth through increased cash flow as we evaluate and strengthen sales and marketing systems that drive revenue.

 

My coaching style is part accountability, part advisor, part kick in the pants, part sober second thought and unwavering support. When clients do the work they get results. I don’t do the work for them, I give clients access to all ways to do their best work and increase revenue and profitability.

 

I rarely speak in absolutes – this will be one of those times.  I believe EVERY business owner needs to have a business coach who understands what it takes to make and keep as much revenue as possible and how to navigate the inner game (that’s the head piece) of entrepreneurship.

 

If you are interested in putting an accountability partner, a mastermind group together or hiring a coach.  Ready to get started? Download the questionnaire I’ve put together for all three.

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