What is a Mastermind Group?
There is synergy of energy, commitment, and excitement that participants bring to a mastermind group. The beauty of mastermind groups is that participants raise the bar by challenging each other to create and implement goals, brainstorm ideas, and support each other with total honesty, respect and compassion. Mastermind participants act as catalysts for growth, devil’s advocates and supportive colleagues.
The concept of the mastermind group was formally introduced by Napoleon Hill in the early 1900’s. In his timeless classic, “Think And Grow Rich” he wrote about the “master mind” principle as:
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”
“No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.”
In a mastermind group (also known as a peer advisory board), the agenda belongs to the group, and each person’s participation is key. Your peers give you feedback, help you brainstorm new possibilities, and set up accountability structures that keep you focused and on track. You will create a community of supportive colleagues who will brainstorm together to move the group to new heights.
You’ll gain tremendous insights, which can improve your business and personal life. Your mastermind group is like having a objective board of directors.
What Will You Get From It?
- Solutions and ideas, which come from brainstorming with the group
- Tap into the experience and skills of others, including the Facilitator
- Increased confidence that you’ve made the right decisions and are taking the right actions to achieve your goals
- Accountability and real progress in your business and personal life
- An instant and valuable support network
- A sense of shared endeavor – there are others out there!
- Design things to be the way you want them to be, not as you’ve been told they “should” be
- A boost to your everyday positive mental attitude
How Does It Work?
Mastermind groups can meet in person, through video conference, on teleconferences, or via online message boards. Also try private Facebook groups, LinkedIn groups, etc. Meetings can be weekly or monthly, depending on the needs of the members. You can find a mastermind group here,or learn how to create one of your own.
Because of the group nature, a commitment is required. Look for highly-motivated people who are willing to ask for — and give — help and support, and are willing to show up for every meeting. That commitment is crucial for your success and the success of the group as a whole.
Each meeting should have a mastermind group agenda. This keeps the meeting flowing productively and allows for deeper, richer brainstorming, goal-setting and accountability.