Are you familiar with the phrase -- Mastermind Group?

It’s the name first popularized by Napoleon Hill in his 1937 classic book “Think and Grow Rich” and has since taken on new meaning with countess adaptations.

You likely refer to your group by a different name:

• Small business round-table

• Leads Group

• CEO Focus

• Entrepreneur Club

• Executive Support Group

• Business Exchange

• Small Business Advisory

The name you give your small business support group is not important…

What’s important is the enormous benefit you should be receiving – And, your benefit should go far beyond mere peer support, affiliation and encouragement.

Your benefit - if fully realized - should reach the level of business transformation!

In other words, your small business support group, if run correctly, has the potential of helping you transform your business into a highly organized, innovative, productive and profitable market leader.

Do you think that’s possible?

Do you think your small business Mastermind group can have that kind of a profound impact on your success?

Well, I believe it is possible – And it’s easier than you think.

All you need are the following five powerful ingredients:

1. A Desire to Win Big!

The first ingredient is that every member of your group must share a burning desire to Win Big -- and, I mean win Really BIG!

All it takes is one member without a strong “Win Big” attitude to deflate your group’s effectiveness. If you have more than one member who is not committed to growing his or her success, it is unlikely that your group will be able to generate the kind of energy and creativity you need to multiply your benefit.

Your challenge is to make sure that your group’s members all share a common objective to dramatically increase their success -- as quickly as possible!

2. An Interest in Self-Improvement

The second key ingredient to create the ultimate Mastermind group is that each of your members needs to be open to learning new business management methods, techniques and tools.

Your group cannot be really successful if you have members who think they “know it all” or are not interested in their personal growth or continuing leadership education.

There’s a whole world of amazing leadership best practices to discover – and your Mastermind group is the perfect forum for exploring ideas that can result in extraordinary competitive advantage.

Your challenge is to make sure your group finds ways to tap into the rich pool of current management thought…

If you don’t, you can be sure -- your competition will.

3. A Commitment to Attendance

The third ingredient for multiplying the benefit of your Mastermind group is that each member needs to be on time and attend all group meetings.

Your Mastermind group is a partnership. Each member must acknowledge his or her responsibility to the group and must be considerate of the other members’ time.

Without consistent, on time attendance, your group cannot achieve full continuity and maximum benefit.

So your challenge is to find members who make attending your Mastermind group a priority.

4. Good Constructive Behavior

The fourth ingredient needed to build a highly successful Mastermind group is that each member needs to agree to conform to basic rules of civilized behavior and meeting etiquette.

This means no arguing, negativity, value-judging or interrupting. It also means that each member should take an active interest in the success of the group and generously and freely, offer support and encouragement.

The best small business support groups are centered on mutual respect, trust and friendship. Of course, it takes time to build this kind of camaraderie, but once achieved, it should be protected at all costs.

Your challenge is to enforce your group’s rules of conduct in as professional and kind a manner as possible. Establish a mechanism to quickly defuse any confrontations or problems.

5. Structure

The fifth and final ingredient to create your ultimate Mastermind experience is also the most important. In fact, in many ways, all four preceding elements require this fifth ingredient to create, maintain and enhance their effect.

Unfortunately, this final and most important ingredient is also the one element that most groups don’t have.

So what is this fifth and final ingredient?

Structure -- Pure, simple and effective structure…

The very best Mastermind groups conform to a highly structured meeting format. The structure ensures consistency. The structure sets expectations and the proper tone for the meetings. The structure, if employed correctly, makes your Mastermind meetings highly productive and effective.

I believe the very best way to introduce structure to your small business support group is to use the Win Big™ Mastermind Worksheet. You can receive a free copy of the worksheet and accompanying eBook at www.winbig.org/mastermind.