How can a business leader do it all – create and communicate a vision, get work done and make a profit? Business coaches help business leaders step back and create processes necessary to communicate and sustain their vision for their organizations by focusing on sales, marketing, systems and team building. One strategy I use is to facilitate a team alignment day. I often start out with a number of traditional and non-traditional teambuilding exercises. Then, I introduce a game called “Leverage: The Game of Business,” in which employees learn five key areas to impacting bottom line. By playing game, each employee learns how he or she plays a pivotal role in making business work and impacting its cash flow. By end of day, team is aligned with business owner’s goals as well as team and business manager being aligned as people. When everyone is on same page, change can take place and things happen more efficiently and effectively.

A recent article in Fortune Magazine, entitled, Executive Coaching – With Returns a CFO Could Love, stated, "Asked for a conservative estimate of monetary payoff from coaching they got, these managers described an average return of more than $100,000 or about six times what coaching had cost their companies."

My goal as a business coach is to help business owners step back and think about new and innovative ways to achieve profitability and business growth … and to do it in a way that provides a good return on investment of a business manager’s time and money. The ability to change, while remaining focused, is an integral part of this philosophy.

What are ground rules and boundaries? What's ok and not ok? And don't forget to plan for how ground rules will be enforced.

How large will group be? Groups typically have less than 10 members.

Where, how often, and how long will you meet? Some groups meet virtually through teleconference or internet. The virtual groups usually meet more often. Other groups meet in person. They typically meet monthly or quarterly for a couple of hours.

How will meetings be structured? Some are structured with a facilitator and an agenda, some allot equal time to each member, some simply focus on most pressing issues.

Who is "ideal" member for your group? What are their characteristics? What is their expertise? What value will they add to group?

Where To Find Members

Don't forget, finding "ideal" member is goal. Warm bodies do not equal "ideal" members. Some places to look for "ideal" members: Your existing network; Professional Associations; Chamber of Commerce; Your place of worship; Internet bulletin boards or networking groups; etc.

Managing Expectations

Everyone in group needs to understand that there is a development curve in forming a mastermind group. While you're ramping up, members need to have open and honest conversations about group norms and expectations. These conversations solidify buy-in, begin to build bonds, and lay foundation for trust.

Being a part of a successful mastermind group can be an invaluable and enriching experience, both personally and professionally. Some groups have literally shared evolution of entire careers with each other. Wouldn't that be an amazing experience to look back on? Now that's what I call "power".