What do all these words have in common? Well, if you’re an entrepreneur trying to grow your business, then they are exactly what you need! A mastermind group, also known as a hot seat or peer advisory board, can help you get the best out of your business. A hot seat consists of at least three members who meet up periodically and talk about how their businesses are doing and how they can improve them further by providing feedback and tips to each other. This article explores what mastermind groups are, why you should be in one and how you can join one to benefit from the experience of others like yourself.

What is the Hot Seat exactly?

The hot seat can be many things. It’s usually a 1-on-1 call with your mastermind group (you’ll see below). It’s also a board meeting, in which you present your updates to your company’s board of directors. It’s also a marketing committee, where you provide updates on content and PR for your company and its products. Hot seat meetings can be formal or informal, depending on what works best for your group.

How does it work?

Hot seat masterminds are conducted by someone who calls themselves a host and charges an enrollment fee to join their community. In return, they will invite you to call in or submit questions to be answered at their monthly Q&A webinar. As long as you pay your dues, you can participate as much or as little as you like, though typically there’s a commitment of at least one session per month.

For Whom Is the Hot Seat suitable?

The hot seat training technique involves an interviewer to ask behavioral and situational questions to a candidate. The interview goes through a series of rapid-fire questions, ending with Tell me about yourself question. The purpose of using these questions is to put candidates on their toes, forcing them into an interview situation that isn’t as comfortable as they might be used to. A hot seat will normally last 15 minutes or less. In order for an interviewer to carry out a successful hot seat exercise, preparation is paramount.

What are the benefits of taking part in a hot seat?

Being put on a hot seat and having to go through a series of rapid-fire questions may sound scary at first, but you’ll be surprised at how quickly you get used to it. Hot seats provide an incredible opportunity for seasoned employees, as well as those looking to climb up the career ladder, to receive more exposure in front of higher-ups.

How do I join one?

To join a hot seat, you must receive an invitation. It’s important to understand that hot seats are focused on networking and sharing information. If you want to make connections and promote your business, it’s recommended that you start attending these meetings once a month. Once you meet someone in attendance, be sure to exchange contact information with them so that you can continue building your network in person or online.