The nonprofit sector IS the small business sector: Nonprofits have a median of four employees in the US. According to the Small Business Administration, 99% of nonprofits employ fewer than 500 people. Those large nonprofits are often hospitals and universities. Few are community service organizations like your local emergency housing program or animal rescue group.
Most nonprofit leaders face the same challenges as the leaders of their small, for-profit cousins: finances, hiring, leadership, and meeting customer needs. Add in managing a volunteer board of directors, fundraising, and lack of access to timely professional development, and you have a recipe for creating burned-out and frustrated leaders and fundraisers. Surprisingly, the non-profit sector has not embraced one of the leading professional development tools used by small business: mastermind groups.
A few months ago, I had the pleasure of meeting Karyn Greenstreet, the founder of The Success Alliance. Karyn has worked with small business owners for more than 20 years. She introduced me to a new -to me- professional development model- the mastermind group. It’s a model that has been time-tested for almost 100 years in the for-profit world but is relatively unknown to nonprofits. While the word ‘mastermind’ conjures up spy novels and crime rings, it’s anything but. A mastermind group uses the experiences and knowledge of every member to build a community of professional peers that can generate new ideas and answers and help each member make better decisions.
Read on for the OnPoint Interview: 5 Questions with Mastermind Trainer and Facilitator Karyn Greenstreet.
The nonprofit and fundraising professions don’t seem familiar with the mastermind concept. Can you describe it for us?
Think of a time when you were talking with friends, and someone brought up a problem or an idea they wanted to get your thoughts on. The conversation probably got lively, and ideas started bubbling. That is a lot like a mastermind group session. The challenge is that this happens sporadically. Plus, friends usually don’t hold each other accountable in the same way a like-minded group of peers would. In a mastermind group, you get this same kind of sharing of knowledge and ideas, but on a regular basis, and action planning and accountability help members achieve their goals.
What are the benefits of this process?
When you bring together these two components- regularly scheduled meetings and accountability for working toward your goals- with a third, a trained facilitator to help you create success, you have a powerful combination for change. As a member, you can stay focused on the most critical challenges. And you have the support and peer accountability you need to get you across the finish line.
Second, because you are meeting with a carefully matched group of peers, you have the benefit of their best practices, wisdom, and personal experience at your fingertips.
What benefits do mastermind group members see?
You can expect to accelerate your learning curve, especially if you are in a new role or stage in your career. You will have the group’s support to help you develop clear goals and approaches to solve problems more quickly. Plus, you have the input of a subject-matter expert who is facilitating your group. The facilitator can provide resources and on-the-spot training. They also know how to make each meeting productive for every group meeting
What should I expect to happen at a meeting?
Most facilitators invite their members to share successes. Members also engage in a process called the Hot Seat. It sounds scary, but it’s not. You have the entire group’s undivided attention when you are in the hot seat. It’s your time to present your question, challenge, or issue and receive input from every group member. After this deep dive, you then have the opportunity to consider a course of action or a change that you will hold yourself accountable to make.
Who should consider joining a mastermind group?
The essential element is your commitment to the group and process. A mastermind group works because every member wants to be part of something bigger than themselves. You have to be fully present and give of yourself during the meetings.
Second, you have to be willing to give as much as you get. The hot seat process is about sharing ideas and advice and asking for help from the other members. It’s striking that balance between sharing what you know and receiving the insights and knowledge of your group’s members.
Third, you have to be ready to make positive changes in your career or work life. Mastermind members set goals and ask the group to hold them accountable for reaching them. The facilitator can provide training and resources. But it’s up to you to put in the work and make the changes necessary to meet your goals.
To learn more about the mastermind process and the Table for 5 preview session, sign up here.
Many thanks to Karyn for sharing her wisdom. As she says at the end of every email, always forward, ever upward!
For more about Karyn and the Success Alliance: Karyn Greenstreet – Mastermind Group Expert | LinkedIn
For more about the mastermind process: What is a Mastermind Group?