45The biggest benefit to joining a lawyer mastermind is learning from law firm owners who’ve “been there, done that.” Lawyer mastermind groups are a way to learn from others, but masterminds are also places where you can share your own experiences. Mastermind participants usually leave a meeting with dozens of ideas to implement in their law practice with the guidance of other members and the lead group coaches.
Why do Attorneys Join Mastermind Groups?
Running a law practice is lonely work. Attorneys have to navigate the difficult world of business and marketing while being the lead attorney within the law firm. That’s why many attorneys form or join small business mastermind groups.
Some mastermind groups bring local business owners together from all the professional industries. These mastermind groups are highly beneficial to the attorney member because the member will learn tactics from other markets that can be modified and implemented in attorney marketing.
Mastermind groups can also be “attorney only.” Attorney mastermind groups usually have members from all over the country. Sometimes these groups have a “no compete” clause, where current members can decline to admit new members who are their direct competitors. An attorney-only mastermind is a great place to deepen the business and marketing strategy for your law firm.
How do Attorney Mastermind Groups ‘Work?’
There are decades of psychological theories behind how people work in groups.
Humans are social animals, meaning most of us thrive when we have a support network. Since like-minded people join masterminds, an attorney will find people with whom he/she can communicate easily. In niche masterminds, like attorney-only masterminds, business owners can learn new ideas and benefit from the experience of others.
Most mastermind groups hold their members accountable for the goals they set during the meetings. This is a huge motivational benefit for those who want to make significant changes in their law firm. It is typically much easier to stick with goals when you share those goals with others, and mastermind groups also offer guidance if the member gets stuck while pursuing their goals.
Local mastermind groups also offer networking opportunities, including the opportunity to develop a new referral network or expand on an existing one.
Are In-Person or Virtual Lawyer Mastermind Groups Better?
There are many varieties of mastermind groups, from those that meet in person weekly to those that do group phone calls every three months. Both virtual and in-person masterminds have their benefits, but those that require more involvement typically create better outcomes for their members.
There are also attorney “mastermind” podcasts where you can listen to two or three experts discuss common topics. These podcasts are great to listen to but lack the key benefits someone might get from a real group mastermind.
How Can You Join an Attorney Mastermind?
There are a few dozen mastermind experiences for attorneys to choose from. Finding a mastermind is easy; the hard part is finding the right group to join.
We’ve discussed some pros and cons of different types of lawyer mastermind groups, so you should have an idea what type of mastermind to look for (virtual or in-person, local group or niche group, goal-oriented or support network).
When you find the right mastermind (or make your own), it’s time to sign up!
I host two lawyer mastermind groups; HERO Accelerated and ICON Accelerated. You can learn more by visiting the group pages or by contacting [email protected]. My mastermind groups are application-only, and we give current members the option to veto attorneys that they might compete with.