Napoleon Hill, arguably the creator of the Mastermind Group concept, claimed that of the great business people, the ones who made it, accumulating wealth and prestige, achieved their success through the power of the Mastermind.
Even today, most top athletes, business people, those striving to be at the top of their game, have excellent mentors, coaches or advisors to show them the way. There are many opportunities out there to find support and guidance, and one of the most powerful is by joining a Mastermind Group.
Billionaire steel tycoon Andrew Carnegie, who was one of the first entrepreneurs in the US credited his entire fortune to his mastermind group – was the inspiration for Napoleon Hill to create the term in his 1937 book Think and Grow Rich. Thomas Edison, Henry Ford and Harvey Firestone had their own small mastermind group. There are also very famous non business groups. One of the most famous of all time was the Inklings, an authors’ group with members like C.S. Lewis, J.R.R. Tolkien and Owen Barfield.
But what is a mastermind group? And how can you find one?
Interested in finding out how a Mastermind Group can achieve growth & success for your business?
If you’re on the lookout for a group, but don’t know where to find one that’s right for you, you’re in the right place.
Mastermind groups come in all sorts of shapes and sizes, including online, face to face, monthly, quarterly. Some only have 2 members while others have multiple 10’s of members… & the list goes on.
The idea of The Mastermind is pretty simple: a concoction of peer group learning, a group who meet to give each other advice, accountability and support. It’s similar to coaching, or mentoring, but has several important differences. First, it will be made up of a group of members, instead of being a 1-2-1 meeting. With 1-2-1 coaching or mentoring you will typically just receive advice, whereas in a mastermind, you will both give and receive advice. This 2 way learning expands your knowledge and business acumen, developing the skills you need to run a successful business, as you’re exposed to many more challenges and business management issues.
Your Mastermind Group will become your advisory panel, it can also involve brainstorming, educational presentations and even discussing personal issues.
So what is a mastermind group really, what can you expect? Think of it as a “meeting of the minds” in every way – a place where you can expect honestly, speak the truth with confidence and expect it in return.
There are many benefits for joining a Group, the main ones being the support, accountability, brainstorming and network opportunities.
Napoleon Hill famously said that ‘No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind.’
The power of your Mastermind Group is having multiple minds on one challenge, and overcoming it.
With a Mastermind Group you can expect accountability session to session. Focussing your mind on what is important to you and your business at the time. This may be deciding on key strategic changes to your business, deciding on a marketing plan, whether to hire, or whether to niche your business. Whatever is critical to the growth of your business.
The ideal Group has a range of different businesses from a range of different industries and backgrounds. This gives a wide range of viewpoints, experiences and strengths. It will mean that ideas that you wouldn’t have thought of are likely to be uncovered, and will push you out of your comfort zone. Challenging you to try new ideas and new concepts.
Talking about other business challenges brought to the session by other members, will expand your horizons of business challenges, and put you in a position where you are trying to overcome them, without the stress of it being part of your day to day. It will push you and help you question what you are doing within your own business, and challenge you to push you to strive for more. Equally hearing from other businesses on your challenges will help you feel more confident and part of a team. You will be able to push each other where needed, supporting each other where needed and pick each other up when you start to fall.
By spending a large amount of time over a prolonged period, you’ll naturally create strong bonds with the members of your Group. You’ll learn all about their businesses, and understand their offerings with great detail. You’ll each see and recognise opportunities to each other’s businesses when they come up, and you’ll want to see each other succeed. They’ll become your band of brothers and sisters, looking out for each other and wanting to experience shared growth.
Be clear on what you need from your group and what’s going to work for you.
If you’d like to experience the true power of a Mastermind, sign up to one of our free taster events. See how the collective strength of 8 other minds can impact your business, and give you the growth you want.