You know the scenario: You’re facing a stressful challenge at work and struggling to come up with fresh, creative ideas to solve the issue. Nothing you think of seems right. You’re too close to your challenge to create an innovative solution. Frustrated by your lack of creativity, you decide to sleep on the problem another night, hoping the answer will come to you tomorrow.

Now imagine that same scenario, but this time you have two or three other people dedicated to helping you work it out. They listen to your questions, offer advice and help you find solutions. When your problem is resolved, you listen to theirs. This is the essence of a mastermind.

A mastermind is a small group of peers, usually three to five people, who share and support each other through the challenges of life and leadership. It provides a mutually beneficial source of inspiration, information and collaboration for all its members. Far more than a typical network, a mastermind is your inner circle — your “A” team.

Networking groups, professional associations and common-interest groups serve important purposes for leaders. That’s not the focus of a mastermind. A mastermind is so cohesive that the members operate as one, focusing exclusively on the needs of one member at a time.

Masterminds can be as varied as the leaders. For example, one group might consist of three consultants who meet for an hour once a week to grow their businesses. Another could involve seven small-business CEOs who meet quarterly to set goals, or even eight women entrepreneurs who meet via phone and email to answer questions and share resources. Many leaders thrive with the support of their masterminds. They discuss challenges, goals and visions, individual and organizational strategy, and more. The support is tailored to each member’s unique situation and set of concerns.

If creating a mastermind sounds like what you need to take your business to the next level, consider these steps:

Brainstorm. What do you hope a mastermind will help you do? Provide objective advice? Be a sounding board? Hold you accountable? Having a good sense of what you want from the group will help you create it. Write down your ideas to explore the possibilities.

Arrange it. The mix of members is the most important element of a mastermind. Select those who will make the most powerful team, and look for people who are different from you. Your mastermind will help best if the members’ perspectives are different from yours.

Suggest it. Once you have some names, extend the invitation – a phone call, an email, a meeting, whatever is most comfortable for you. Share your idea about the group and see who’s interested. Not everyone will want to join. That’s OK. You’re looking for people who are drawn to the idea. Move forward with the partners who emerge.

Try it out. Once you have interested participants, hold an informal meeting to get to know more about each other and what your mastermind could be. Reiterate what a mastermind is, what you hope to get out of it and why the people you’ve invited seem to be a good fit. Then go around the room and ask each person:

• What interests you about forming a mastermind?
• What characteristics would be important to you in this group?
• What would you hope to achieve?

Your goal is to determine who, specifically, wants to commit to your group. Then you can set a date for your first meeting.

Establish it. The first time your mastermind meets is an important day. You will get off to a good start if you take the time to do it well. Follow a formal agenda that includes:

• A welcome message
• Foundational questions:
  • Who are you, what do you do and what brought you to this group?
  • How can this group best support you?
  • What talents do you bring to this group?
  • What ground rules would make this group worthwhile?
• A review of logistics:
  • When, where and how often will we meet?
  • What will the format be?
•  Closing thoughts

However you structure your meetings, make sure each member has the opportunity to discuss his or her goals, needs and next steps.

Regulate it. When a mastermind group is well organized, it can be one of the most beneficial forms of support a leader can get. But masterminds can get off track. To ensure the group’s effectiveness, stay in tune with the value it provides each member.

At the end of every meeting, or occasionally, go around the table and ask, “On a scale of one to 10, one being low and 10 high, what was the value of today’s meeting for you? Why?” Then talk about it. What would you/the group have to change to make it a 10?

Allow members to ask for what they need from the group and to take personal responsibility for anything they’re doing to hold back the mastermind (and themselves). It also helps the group grow and evolve to best serve all members.

GAIN YOUR EDGE

Regardless of your industry or business, you shouldn’t have to go it alone. Many talented, competent leaders share struggles similar to yours, and they can offer a valuable perspective about whatever challenge you’re facing. After all, when it comes to problem solving, two (or more) heads are always better than one. Your mastermind will help you become a better leader. When you avail yourself of other people and think about how you can help them, you will naturally help yourself.