As a solo-entrepreneur or small business owner, have you ever wanted to accelerate your business success far beyond what you have today?A powerful way to do this is by forming or becoming a part of a Mastermind group.

A mastermind group can open up your world to many other points of view and possible solutions to making more money or achieving greater cash flow.However, there are several key factors that must be included in your masterminding sessions for the greatest positive impact on your business.

The five key factors to assure maximum success as part of a master mind group are:

1. Have a common goal.It’s critical that your group have a common goal for coming together.Examples of common goals for your Mastermind group could be building better and stronger businesses, gaining investment advice and experience, applying principles from a moving or powerful book or program, or meeting for personal growth and self improvement.

2. Determining and reading a mastermind principle.A mastermind principle centers everyone before each meeting and reminds each individual of the mastermind purpose.If you fail to read the principle before each meeting, the focus of the meeting is diminished.Two people who have very good mastermind principles are Bob Proctor and Mary Robinson Reynolds.

3. Commitment to the mastermind meetings.The fastest way to kill the effectiveness of a mastermind group is to not attend.It is imperative that each person in your group attend all meetings.This meeting time must remain sacred and not be missed.Thus, it is critical that the meeting time works well for all participants. Set your group up for success by making sure the meeting time is accessible to each person and that the frequency of the meeting dates is realistic.

4. Willingness to allow yourself to be open.For some people, it may be hard to be forthcoming and admit that you are experiencing barriers or need help in front of others.To tap into the power of the mastermind group and make significant personal gains, you must let go and become vulnerable.Share with the group your frustrations, pain or struggles and celebrate your joy and successes.

5. The group MUST hold each other accountable.Accountability plays a vital role in achieving your goals.At the end of every meeting, each person commits to accomplishing items or tasks before the group meets again.These commitments should be taken seriously and recorded.Each person is held accountable for completing them.Minimal excuses should be accepted as to the reason why the tasks were not completed.Excuses should raise a red flag to a possible barrier that person may be experiencing and thus, the mastermind group should help to solve or remove the barrier.It’s crucial, in these situations, that the mastermind group be direct and place individuals in the hot seat of accountability.This can be done in a firm yet encouraging and non-intimidating fashion.

Masterminding can be a driving force to get your business to the next level by providing clarity, fresh perspectives, brainstorming ideas, resources, networking opportunities, and sharing expertises in an open, encouraging and supportive environment.Implementing these five key factors will ensure your business success and maximize your business potential faster and far beyond what you could achieve on your own.