Owning your own business can seem like a daunting endeavor . Although a high percentage of people say they would like to own a business , only 10 % of the workforce actually has taken on the initiative and risk of entrepreneurship . Whether you decide to have an online or brick-and-mortar business , it undoubtedly takes courage and vision to make the leap . When you are first starting out , it can seem overwhelming because you are juggling responsibilities across many fields such as product or service development , finance , technology , customer service , marketing , communications , and product or service delivery . However , being your own boss also has many rewards and benefits that , with the right support system in place , will significantly outweigh the challenges .
I have to be honest with you : at times throughout my five years as a business owner , I wanted to give up and felt like I should “ get a real job .” I have felt like I ’ m on a roller coaster ride of self-confidence one day and insecurity the next . As an entrepreneur , you ’ ve probably also noticed that your family and friends who have always had traditional jobs do not understand what you do or why you are so passionate about it . They may even question you and cause you to doubt yourself . Working by yourself can get lonely , and sometimes you feel insecure and scared about the future . Even though you have traded a safe and secure job for freedom and independence , you often experience uncertainty and doubt in your skills and your decisions . Take a deep breath right now however , and know that these feelings are a normal and natural part of entrepreneurship . It does get easier as you find your tribe of supportive people .
In the early 1900s , author Napoleon Hill noted in his research that there was an “ x ” factor that many successful people had in common . He observed that they met on a regular basis with like-minded individuals . He further noted that when they came together to brainstorm in a common endeavor , it was as if a " third mind " was created from their collective energy that gave them special insight . This type of group was vital to the success of many famous people throughout history such as C . S . Lewis , Henry Ford , J . R . R . Tolkien , Benjamin Franklin , Theodore Roosevelt , and Thomas Edison . In his book , “ Think and Grow Rich ,” Hill called this phenomenon , “ masterminding .”
In working with women entrepreneurs , I ’ ve discovered just how important masterminding is for sustainability and success . Women are naturally drawn to connection and engagement with others , and when we embark on the entrepreneurial journey , it is especially important to have a strong support system in place such as a mastermind group .
The modern mastermind group has taken on many forms , and you ca n now find groups for writers , inventors , social reformers , entrepreneurs , real estate investors , and even CEOs . As you consider the many aspects and options , choose based on your personality and your needs . It is important to note that a mastermind is different from a networking group . Even though you will build business relationships and referrals naturally , the purpose of the mastermind group is to be in the collective energy of other forward-thinking entrepreneurs .
Your mastermind group is the place where you will gain insights and perspectives to take your business to the next level . Fellow members will become your advisors , your confidantes , and your friends . It is a safe place for you to share your struggles , be encouraged , and get clarity on your mission and vision . Members build trust in each other ’ s ability to give them objective feedback without judgment . Some members have been in business longer than you and can give you guidance and advice based on their experiences . Each meeting will leave you recharged and inspired , knowing that you absolutely can succeed as an entrepreneur . As Napoleon Hill wrote , “ Your mastermind group is like having an objective board of directors , a success team , and a peer advisory group , all rolled into one .”
Before joining , first visit the group that you ’ re interested in . A structure and purpose for each meeting is essential to success . The group should have a strong leader who will establish and maintain policies and procedures so the