The Importance of Networking & Masterminding

networking masterminding

While you may be able to create tremendous success on your own, traveling the path of success with networking groups makes the journey more enjoyable.

Plus, the added accountability will propel you to success faster and further than you originally envisioned. This is where the importance of networking and masterminding comes into play.

It’s Not Just What You Know, It’s Who You Know

Success is a team sport.

It’s not what you know, it’s also who you know.

In my career, success in any undertaking has come down to not just who I know—but also who I have on my team.

Along the way, I’ve learned many success principles that can help you build your own network of influencers, mentors, and experts. Developing a business network of people can help you succeed.

Nurture Your Network

One of the most important skills for success in today’s world, especially for entrepreneurs and business owners, is networking.

In my life, this has proven to be true.

The more time I have spent consciously building and nurturing my business network of advisers, colleagues, clients, students and fans, the more successful I have become.

Businesses and careers are built on relationships. Relationships form when people meet and interact with each other in an authentic and caring way.

Effective Networking is Dependent on Trust

Statistics confirm over and over that people prefer to do business with people they know, respect, and trust.

"Effective networking is all about developing relationships."

In creating your own personal network groups, your job is to seek out people who know things you don’t. These people can help you connect where you can’t.

Developing Relationships Takes Time

Initially, your goal shouldn’t be to make a sale. Instead, it should be to seek advice, connections, recommendations and insights. To the extent that you can provide something in return, do so.

Remember that developing genuine relationships takes time and consideration.

It requires careful thought and a mindfulness for others.

Three Steps to Building a Reliable Networking Group

Think of these three steps:  

  1. Visibility
  2. Credibility
  3. Profitability

First show up, participate, and get seen,

Second, ask others how you can help them and then deliver on their requests if you can.

Then, when you have developed a relationship of trust and service, you can ask for referrals and assistance.

Two Heads Are Better Than One

Networking and building meaningful relationships with others brings success quickly.

This is where mastermind groups come in.

We all know that two heads are better than one when it comes to solving a problem or creating a result.

Imagine having a permanent group of five or six people who meet once every week or two to problem solve, brainstorm, network and motivate each other.

This is masterminding.

The Basic Philosophy of Masterminding

The basic philosophy of a mastermind group is that more is achieved in less time when people work together.

A mastermind group is made up of people who come together on a regular basis (weekly, biweekly, or monthly) to share ideas, thoughts, information, feedback, contacts, and resources.

Getting the perspective, knowledge, experience, and resources of the others in the group greatly expand your own view of the world. It can also advance your own goals and projects more quickly.

Find People Outside of Your Field

When you form your mastermind group using your networking skills, consider bringing in people from different professional arenas.

Find people who are “above” or “ahead” of you professionally or financially. These people can introduce you to a network of people and resources you normally wouldn’t have access to.

Though the benefits of masterminding with people outside your field may not seem obvious now, the truth is that we all tend to get stuck in our own field of expertise.

We see through the same narrow lens and do things the same way everyone else in our industry does.

Build Your Own Mastermind Group

When you assemble people from different industries, professions, or fields of study, you get lots of different perspectives on the same subject.I don’t know anybody who has become super successful without employing the principles of both networking and masterminding.

I don’t know anybody who has become super successful without employing the principles of both networking and masterminding.

This is because building meaningful relationships with others both inside and outside of your field of expertise forms valuable connections and expands your resources.

You never know when these connections will come in handy on your journey to success.

Take Action

Make a list of 5-6 people who you know that you could potentially build a mastermind group with, and ask them if they are interested. 

One of the most powerful ways to learn anything is to teach it to others. That's why having a mastermind is so important.

Teaching forces you to clarify your ideas, confront inconsistencies in your own thinking, and more closely walk your talk. But most importantly, it requires you to read, study and speak the information over and over again. The resulting repetition reinforces your own learning. I've created a free webcast for people who want to learn to train others, lead mastermind groups, and conduct powerful learning sessions with others. 

If training and empowering others is something that inspires you, click the button below to watch my webcast The 7 Pillars of True Life Transformation.

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  • Nicolas Rodriguez

    Thank you very much for this excellent article, I hope to implement it during this year.

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