Hosting mastermind groups is a passion of mine. I love getting like-minded people together to build both relationships and businesses.
But there's still some confusion about how a mastermind group is facilitated and how its members can receive the maximum value for their investment.
While a successful mastermind group can be set up for a variety of reasons and with various models, I choose to use the “hot seat” method for my groups. After hosting paid mastermind groups encompassing hundreds of meetings with entrepreneurs who've trusted me to help them start, build and grow their businesses, I believe the “hot seat” is one of the best ways to host a mastermind.
Since the question of “What is a hot seat?” comes up on many of the calls I have with new mastermind applicants, I thought I'd shed some light on the subject and help clear the air (and mix analogies).
What is a “Hot Seat?”
In terms of a mastermind group, the hot seat is where a member and his business are the focus of that meeting. They’re under the spotlight, and the focus is on them. When it’s your turn on the hot seat, I tell my clients to “be prepared and be selfish.”
If you’re prepared, you set yourself up for the best possible experience. If you have an agenda going into the meeting, and you have questions you want to ask and projects you want feedback on, you’ll get the most out of your time under the spotlight.
If you’re selfish, you ask questions and seek help that will help you get further in your business. How many times in your life are you told that it’s ok to be selfish? When it’s your time to be on the hot seat, it’s your time to get what you need to help you wherever you are on your journey.
What Happens When You're on the Hot Seat?
The hot seat is your chance to share your wins and get feedback on what you’re doing. Members are put under pressure one week, then given time to make adjustments for a few weeks before they're back under the spotlight.
For example, if you have four members in your mastermind group, each person is on the hot seat roughly once every other month, and that's not a bad schedule.
Members on the hot seat share four things:
- what they're working on
- what is working for them and where they’re getting results
- what isn't working for them
- what they need help with
Between hot seat rotations, I also like to throw in a meeting with a Q&A roundtable. This is a chance for my mastermind members to ask specific questions they need help with. They have the option to get technical, but that’s not required, and many of them don't. In the past, members have really enjoyed these Q&A meetings and found a lot of value in learning from the questions of other members.
People should join a mastermind because they want RESULTS, and being on the hot seat ensures members get the support, accountability, and encouragement they need. Since you can't escape the spotlight, members know they'll have to show up and talk about what they did (or didn't do) to achieve their goals. I tell my members to be selfish when it's their turn, and the ones who do are the ones who move their businesses forward.
If you'd like more information about joining one of my premium mastermind groups, go to https://www.ellorywells.com/mastermind.
Next in Series: How to Get the Most Out of Your Mastermind