I’m sure you’ve heard of Mastermind groups. But, did you ever wonder how the idea came to be, and if a group would be right for you?
“Mastermind as coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose,” is the way Napoleon Hill described his Mastermind idea. “This form of cooperative alliance has been the basic of nearly every great fortune. Your understanding of this great truth may definitely determine your financial status.”
Hill was the author of Think and Grow Rich. He studied the richest men of the early 1900s and wrote the book that depicted how wealthy men participated in a Mastermind Group with other like-minded men. He believed the main purpose behind each group was helping the participants solve problems critical to their business. In addition, it would crystalize their goals and help them increase their financial status.
Many creative people have actually been taking these steps for years. Some people have a mentor or a partner they work with on an informal basis. These two individuals may collaborate, brainstorm and provide support to help each other achieve their goals.
But, Mastermind Groups, on the other hand, are formal. They have set days and times for meetings that can be in person, on conference calls or even with online message boards. Many people in the business world are drawn to them because they lack a person they can trust to help them achieve their goals.
Anyone can form a Mastermind Group. The agenda of the group is yours to do with as you wish. The key to the success of each group is the participation of its members and the feedback they provide. But, make sure each person in the group is striving for success. Some people compare a Mastermind Group to establishing a board of directors because of the insight you will achieve about your business.
There are Mastermind Groups forming all the time. The format of each group may vary but the underlying goal is to help members become accountable to others and quickly build trust and rapport. Women entrepreneurs are constantly designing new models for their Mastermind Groups because these groups connect the women with like-minded, big vision people. Their goal is to double or triple their success as an entrepreneur.
According to Chad Coe RFC,CDFA, CWS® , president of Coe Financial Group, “I have found the Mastermind experience to be truly amazing and priceless to me as well as for many of the participants in the groups that I run.” The groups, which range in size from eight to ten people, “have given people an incredible amount of new confidence, which they didn’t have before becoming a part of one of the Mastermind Groups.”
Mastermind groups focus in a few factors:
- The group lets you see a bigger vision for yourself.
- The group provides support to you.
- The group holds you accountable for your actions.
- The group helps expand your comfort zone and growth.
- The group lets you expand your mind for new ideas and resources.
Most important, each member of the Mastermind Group must be fully committed to the group and to the individuals within the group. When each member seems to face a challenge, the strength of the group erases the challenge so it ceases to exist.
According to Hill: "No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind." Actually, what occurs is the creativty that emerges allowing the members to take that step into the future.
Vicki Gerson is the president of Vicki Gerson & Associates, Inc., a print/web writing and public relations firm in Northbrook. To contact her, call 847-480-9087, email or visit her at www.vickigerson.com.