Master Mind Group or Professional Coaching – Which is Better for Network Marketing?

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There is relatively old concept which seems to be gaining new ground these days. This concept is the “Master Mind Group.”  Thanks to Napolean Hill we have been let in on this secret of the rich.

What is a “Master Mind Group?”

what is Mastermind groupThis is simply a group of people who agree to meet on a regular basis to discuss business, leadership, ideas or anything you desire.  It can have any characteristics you define in the creation of the group.  If you need accountability, encouragement and/or connections, consider forming a “Master Mind Group.”  The idea has applications in Network Marketing Business since the new business opportunity owner may find themselves in unknown territory as a business owner and overwhelmed with decisions of what to do.

Why form a “Master Mind Group” or hire a professional coach?

Let’s face it, sometimes we need someone to help us follow-up with business direction or suggestions. Sometimes we need someone’s honest feedback on projects and the occasional encouraging “pat on the back” from others.  Finally, sometimes we may not know what the “experts” know which makes a difference in our projects or our lives.  These difficulties can be solved with a “Master Mind Group” or professional coach.

Consider the benefits of a built-in “Master Mind Group” in the Network Marketing Business “up-line.”  Usually there are experienced network marketers who are able to provide valuable insight, keen observations and lessons of their own experience.  This is an often unused resource available to network marketing business owners.

Which is better, a “Master Mind Group” or a professional coach?

Mastermind groupWhen you hire a professional coach, you are usually spending money with every minute of advice you receive.  With a “Master Mind Group” you receive valuable advice in return for the advice you give.  Most people don’t realize the value in what they know and are able to communicate with others.  You may feel intimidated and unsure of the value you can offer.  Before you give up on the idea, consider the value of your “experience” in certain areas.  Many companies will pay to find out this information.  What you know is useful and valuable!

This lack of perceived credibility or value may prevent some people from seeking out a “Master Mind Group.”   Remember that most of them, particularly in a Network Marketing Business, are eager to provide guidance and are interested in hearing your experience.

With a professional coach you enter into a paid “instructional environment.”  As you know, in a classroom situation the student sits and listens to the teacher lecture.  The student may ask a question (which the teacher has heard numerous times) and then gives the answer (that has been given numerous times to others.)  In this environment the retention is usually very low.  We may remember 10% of what we’ve heard in lectures.

Contrast this with a “Master Mind Group” which is more experiential.  The lessons that we remember the most and draw from over and over for decisions are the ones that we have experienced.  The “Master Mind Group” is set up to apply to experiences and then answers are brainstormed in conversation form.  The advice may be applied and modified as the results come in week after week.  The sweat, tears and joy are much more memorable than a lecture, video or book we have read or seen.  In fact, some books I’ve read several times and wondered who highlighted an important section (me) and who wrote notes in the margin (me).

Some of us are gifted with photographic memory. (I am not.)  Others of us have emotional experiential events that serve as the basis for our future decisions, business applications and life lessons.  “Master Mind Groups” seem to help create these learning conditions and are particularly advantageous to the tight budget of the network marketing business start-up.  Coaching is extremely valuable and may be better served when there is limited advice needed in a specific area.  It is also important to note the credentials that any professional coach has and stick with those with experience.

Which is better?
In summary we know they both are very useful.  The important action is actually using one or the other. Consider your purpose, goal, learning style and budget, and then select the best fit for you.