I often recommend that small business owners and entrepreneurs have three key tools in their "success toolbox": a coach, a mentor and a mastermind group. I've covered coaching and mentoring in another article and on my web site. Let's explore the role of mastermind groups in helping you to set and achieve your goals.

Mastermind groups are small (6-8 people) and made up of peers and colleagues who are on a similar path as you. Most groups are not local because this helps you avoid the potential issue of working on ideas with competitors. So instead, groups meet by phone for an hour or 90 minutes monthly to do goal-setting, brainstorming and to review action steps.

Mastermind members should be of a similar type (i.e. small business owners, online marketers, work from home mom's, etc.) so that they can support and volunteer resources for each other. They should be of a similar experience level so that well-established individuals don't feel unchallenged or like they aren't gaining value. It also prevents less experienced members from feeling lost in conversations.

A non-negotiable for the group members is their commitment to meeting times. Many groups charge a fee to keep everyone accountable. Regardless, everyone should add the meeting dates to their calendars and commit to it like they would a client meeting. Meeting discussions should also be considered confidential.

Groups should have a facilitator who is experienced and understands group dynamics. A facilitator is the traffic cop of the group-NOT a teacher or coach. They make sure everyone stays on point, gets involved and the conversation flows. They can contribute when asked but that is not their primary purpose.

Early sessions with a mastermind group should revolve around determining every one's personal value systems are. These are unique to you and may be radically different from everyone else. That's ok. You can't define your goals if you don't know what you won't negotiate on in your life. Is it more money, more time, more space? The group must know your values to ensure they are helping you establish goals that are coherent with your values.

Once everyone has defined and shared their values system with the group, you can move on to setting individual goals. You should not be a part of a mastermind group that thinks small. You have to be in a group of individuals who dream BIG. Set goals to achieve those big dreams, but make sure they are short-term with action steps. One of the purposes of the group is to challenge you when you are routinely not meeting goals to determine whether or not you are on a path you really want to be on.

The biggest value in working with a mastermind group is the power of many minds working to support your ideas, your goals, your dreams and values. Many engaged minds can generate more ideas and contacts than one person alone. They support you, hold you accountable and point out your blind spots.

Add a mastermind group to your success toolbox! I guarantee you'll see results.