Peer-led Mastermind Groups.

Everybody wants to be part of one, but the good ones can be hard to find (or create).

Besides the obvious logistical challenges, you’ve also got to get just the right mix of personalities, expertise and commitment. And even then, things won’t always be perfect.

Which is why so many folks just give up trying in the first place. Or, end up paying someone they trust to do the heavy lifting for them (bring the right people together and facilitate the logistics).

But a peer-led group — one where each member takes a turn at leading the meetings — can be a magical thing. For you AND your business. And for four very simple, but crucial reasons:

1. They don’t cost money. Yes, group coaching and other types of classes — even facilitated masterminds where you pay to belong — can be extremely helpful. Heck, I offer group coaching and mentoring for a reason. But some of your most powerful relationships can come from belonging to a group where you’re there because you want to be — not because you’re afraid of losing your enrollment fee. And when the natural cycles of your business get to that ebb stage (don’t panic — everyone’s business has them!), it’s nice to know you don’t have to worry about dropping your mastermind because of the budget.

2. You get to learn how to lead. Sure, you’re already running a business. And that means you’ve made a commitment to be in charge and grow something fabulous. But that doesn’t mean you’re completely prepared for the challenges of leading others. If you take a class, then you probably won’t get the chance to stretch your leadership muscles. A coach or a facilitator does all the heavy lifting for you. And that means the energy is also different. The other folks in the group with you are also assuming a more passive role. Taking turns at the helm might seem like a small thing, but it does wonders for building confidence and skills.

3. They last as long as you want (or need) them to. Creating strong relationships with people takes time. And usually a facilitated program has a finite life. Why give up all that ground work of getting to know people after just a few months?

4. You get to decide the rules. If someone else puts the group together, you play by their rules. But when your group is peer-led, then you each have a say-so. You all decide together how the meetings will work and what you’ll talk about.  This shift in dynamics can mean the difference between a group that kind of/sort of aligns with your needs and values — and one that fully supports them. Which is why I chose Masterminds as the first topic of my year-long mentoring program (aka The Digital Dining Room).

So far this month, we’ve talked about what a peer-led group looks like, different meeting structures, and ways to choose the right people. We’ve also discussed how to handle the challenges of keeping people committed and working together after the enthusiasm wears off. And then — because I always say the way to make sure something happens is to clearly outline what it is you want — I had the participants create Want Ads.

My instructions were simple: make sure you include a focus or topic for your group; outline the meeting structure and ground rules you’d prefer; and tell us what you have to offer. Everyone did a bang up job on their ads. Truly. There was a clarity to each of them that will help them go far toward creating what they want and need. And even though I didn’t want them to actually post these out in public, I did think we had one that warranted sharing:

As you can see, Susan was able to succinctly state what she wants and needs, but in a way that brings a little lightness to something that tends to be more serious. And she’s already begun sharing this with folks in her region — and is receiving an enthusiastic response. It won’t be long before she’s brought together just the right mix for her. (Learn more about Susan on her website: WebPoppy.)

If you’re still looking for the right mastermind group, this exercise might help. And while I don’t recommend you post this kind of thing willy nilly for the whole world to see (it’s best to reach out to folks one at a time and share this with them privately), the want ad structure can certainly help you have a little more fun with the process.

What about you? Are you in a peer-led mastermind group? How did you find your members? Share with us in a comment below.