What is a mastermind group? A mastermind group is simply an alliance of two or more individuals dedicating themselves to a specific goal. It is a way to get all the knowledge, expertise, and connections one needs to achieve their goal.
It is believed that Napoleon Hill, author of "Think and Grow Rich", first defined the term mastermind. Hill said it is a "coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose."
Andrew Carnegie, the wealthy steel magnate, inspired Hill's concept of the "Master Mind." According to Hill: "Mr. Carnegie's Master Mind group consisted of a staff of approximately fifty men, with whom he surrounded himself, for the DEFINITE PURPOSE of manufacturing and marketing steel. He attributed his entire fortune to the POWER he accumulated through this "Master Mind.'"
Over the past 75 years, the idea of mastermind groups has grown and evolved to become a valuable tool of successful individuals.
Participants bring to an effective Mastermind Groups a synergy of energy, commitment and excitement. The group together will 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 a catalyst for growth, by playing the roles of the devil's advocate as well as the supportive colleague.
The Mastermind Group belongs to the participants. So, it is key for each person to participation, contribute and follow the guidelines. Fellow members in the group are there to provide feedback, brainstorm new possibilities, and set up accountability structures that keeps each member focused and on track. It is a collection of supportive peers who work together to move each individual of the group to the next level
Key Benefits of a Mastermind Group
The general intended outcome to forming a mastermind group is:
- Mutual support
- Differing perspectives
- Resources
- Accountability
- Experience, skill and confidence
- Real progress in your business and personal life
- An instant and valuable support network
- A sense that others share your experience
- Revision of one's map of reality, so that their limiting beliefs are challenged
- A bonding of peers
Things grow at an exponential level when people are in groups. 1+1+1+1 equals 5, or 6 or even 10!. Napoleon Hill believed there was a mystical quality created when a mastermind group was formed. He said: "No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind."
In other words, the sum of the ability of individuals to create things in the world is multiplied when the individuals operate as a group.
Keep in mind that a Mastermind Group is not about making sure one is comfortable. Joining a Mastermind Group is intended to push one out of their comfort zone. Success rarely comes from outside one's comfort zone. Masterminds are effective because the group is there to help each other expand beyond their old limits.
Part 2 will be released next week.
Catherine Oak
President, Oak & Associates
