The concept of the “mastermind alliance” was formally introduced by Napoleon Hill in his timeless classic, “Think And Grow Rich.” He wrote about the mastermind group principle as “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.” He continues “No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind [the master mind].”

Let’s rephrase: A Mastermind group is about helping its members achieve success. Here is what you can expect from it:

  • A boost to your everyday positive mental attitude.
  • Answers and ideas, which come from brainstorming with the group.
  • 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.
  • Increased confidence that you’ve made the right decisions and are taking the right actions to achieve your goals.
  • Tap into the experience and skills of others.

If you are in business (and we all are: Some simply prefer to only work with one client), then you should really think about starting or joining such a group.

What a Mastermind Group is NOT

  • It’s not a class. While your group can vote to bring in guest speakers and teachers occasionally, the main focus of a mastermind group is the brainstorming and accountability support among the group members.
  • It’s not group coaching. Mastermind groups are about the MEMBERS sharing with each other, not about the Facilitator coaching individuals in a group setting. You get everyone’s feedback, advice and support. Yes, if the Facilitator is an expert on the topic, by all means chime in. But keep the conversation balanced between all members.
  • It’s not a networking group. While you may share leads and resources with each other, it is not the main focus of the meetings. However, through your connections with other members, you will find plenty of joint venture opportunities, lead sharing, and professional networking.

How a Mastermind group works

Typically a once-a-month meeting is scheduled with 4-8 members in the group maximum.

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.

Each meeting needs to have a clear agreed topic/focus.

First meeting: Get to know each other better! All members should share

  • Personal or business mission or vision statement.
  • Three-year goals.
  • Commitment to moving forward in your business and personal life.

A possible agenda is:

1. Each member shares his/her good news since last meeting.
2. Discuss theme set for current meeting.
3. Discuss & brainstorm on individual problems
4. Each member states a goal they will have accomplished by the next month’s meeting.

Each meeting needs to have a facilitator / time keeper.

Advice for members: Keep a notebook with you at all times so you can write down your successes, failures and things you’ve learned. Then share those with the group at your next meeting.

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