Seems like Business Success Mastermind groups are all the rage these days. If you are not familiar with this concept, the term just means a group of people who get together on a regular basis, either on the phone or in person, with the express purpose of supporting their fellow members and accelerating each member’s business success with the power of the group’s collective wisdom.

If you can’t figure out why people who seem to be zooming past you, chances are they are in a business success mastermind.

Here’s why: You can never be completely objective about your own business. Don’t worry; it’s not your fault. No one can…it’s simply impossible. Here’s the answer: When you work in a group business success mastermind that is properly structured, that lack of objectivity is no longer an obstacle. Other members in your group will be able to be objective about your business and they can point out your business blind spots, uncover potential problems and offer great new ideas that will accelerate your business success in ways that you would never have come up with by yourself in a million years. Plus you can offer this same gift back to them.

I have participated in several business success masterminds over the last few years. The first one I tried was with some colleagues. We agreed to meet twice a month over the phone to support each other. I was enthusiastic and committed as well, but the group only lasted four months. In retrospect, here’s why:

There was no structure and no group leader, no head coach so to speak. Plus, the group was absolutely free to join, so there was no real incentive to make it successful.

Later, I joined to a paid mastermind group, one that had a head coach. Again, I was enthusiastic and committed, plus I was sure that since I was paying to belong and we had a leader, the experience would be great and contribute to my business success. Again, I was disappointed and I couldn’t understand why this group did not work… after all, we had two elements of a successful group in place, a head coach and a monetary incentive to make it work. But there was a third missing (and crucial) element of the mix was missing… a proven, powerful and easy to implement structure… a structure that would give each of us a laser-focused opportunity to be heard and to get feedback on our challenges and opportunities with ideas and advice that we could act on right away, so progress could be made that very day!

Since then, I’ve had a chance to experience exactly that and my business success has been completely remarkable.

So, when you receive an invitation to join a business mastermind or if you are thinking of starting a group of your own, be sure to have these three elements in place: an experienced leader, a monetary incentive to succeed plus a powerful, proven and easy to implement structure.

With these three elements in place, your business mastermind (and your business success) will soar!

There are many ways to succeed online and make money on the internet, but building your list is one of the first things you should do, as emailing your list of people who know, like and trust you is the most profitable way to both give value to your customers and to make money on the internet.