Do Mastermind Groups Help Female Entrepreneurs?

Jessica Fialkovich | @jfialkovich

A quick Google search for "entrepreneur mastermind groups for women in Denver" produces a list of hundreds of organizations, meetups, circles, chapters, and resources. But what does a mastermind group do, how does it support us as women and entrepreneurs, and do we need one?

 A mastermind is a group of like-minded individuals who meet on a recurring basis to discuss issues or opportunities relevant to  business and life. Depending on the group, some are exclusively women--or not, some are exclusively entrepreneurs--or not, some exclusively focus on business--or not. It is a lot to process, and with the entrepreneurial environment thriving in Denver, new ones pop up every day.

Before we jump into researching these hundreds of organizations, is there a real need for women to be a part of these groups? With the ever increasing responsibilities we face and the impossible “balancing” act between family and business, I believe the answer is a thunderous yes. The truth is--contrary to popular belief--women can’t have it all or do it all themselves. There is a point and time when all the balls come falling down, we are standing in our kitchen in two different shoes, and screaming in frustration. That situation is what the right peer group can prevent, or at least help you recover from.

When speaking about her Emerging Women Power Circles, Constance Klein states, “For me it's a place to try on for size and get support around taking a leap to the next step, or being more authentic in the way I work and lead my team. It is about showing up in your authentic self with a group of people who have ambitions to play bigger – whatever that means to them."

Some of the most common reasons women join mastermind groups are:

  • Feeling isolated in business and not needing to  bounce ideas off of someone

  • Being stuck at a certain income, revenue, or growth level

  • Feeling overly stressed with the balance of work, family, kids, and personal needs

  • Wanting to be surrounded by others who can help uplevel business and personal growth

  • Feeling like friends/family don’t understand the life of an entrepreneur

I have been a member of Entrepreneur’s Organization (EO) for almost two years and was involved in 3to5 Club, eWomen’s Network, and Women Who Startup at other points in my career. Each organization had a different atmosphere, defined culture, and purpose for  what the group aims to achieve for its members. Every mastermind group also takes a different approach of how to support their female membership. Interestingly but not surprisingly, organizations are looking to diversify their membership and include women’s voices. Many men have expressed the need for more women leaders in mastermind groups. as men recognize the role diversity plays in providing a variety of thoughts and ideas to help them grow as business owners and people.

As a business owner, it is important to surround yourself with other people. At different points in your career you may need support, mentorship, or resources. Entrepreneurship is not meant to be a solo journey. Whether a mastermind group is right for you or not, my hope is  you find your support somewhere.

List of Mastermind Groups in Denver

Entrepreneur’s Organization+

Emerging Women Power Circles*

Vistage

Women’s President Organization*+

YPO

eWomenNetwork*

3to5 Club+

GMAP (Denver Metro Chamber)+

Women of Denver Mastermind Group*

All Women Entrepreneur Events on Meetup

 This is not a full list, there are others as well as industry specific masterminds.

 *Women Focused

+Entrepreneur Focused