Create & grow your business with a Mastermind Group

How to Create and Run a Mastermind Group 

What is a Mastermind Group?

This is a group established by people who share the same energy, excitement, commitment and dedication to success. It refers to synergy of energy. Participants aim to raise performances by challenging each other to create and implement goals, brainstorm ideas and support each other. The treat each other with utmost respect, honesty and compassion with a common goal namely to raise the bar.

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 Mastermind 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 success of a Mastermind Group is dependent on the participation of all.An Agenda is drafted but it belongs to all participants which requires feedback, brainstorming new ideas and setting up accountable structures to keep each participant focused and on track. A Mastermind is the creation of a community of supportive colleagues to move each member to new heights. Members of the group will gain insights which can improve their business and personal life. It is similar to a Board Of Directors which acts in the interest of the “entity”. 

.What can you expect from being part of a Mastermind Group?

• Other ideas and answers to questions you may have achieved through brainstorming
• Acquiring more skills and experience
• Creating more confidence through affirmation and new ideas
• Progress in your business and personal life through accountability
• Support from like minded people
• A sense of shared endeavour - 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

Who Should Attend a Mastermind Group?

People who:

•  have a similar interest (such as a group for self-employed people, or a group for spiritual thinkers, or a group for people in a certain industry)
• have a similar skill and/or success level
• have the desire and inspiration to make this year extraordinary
• want a supportive team of Mastermind partners
• want to reach or exceed their goals
• are ready to let their desire to be passionate about their life and work overcome their fear of changeHow Does It Work?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.   
• Mastermind Groups can meet in person, on the telephone, or via skype or similar online tools.Linkedin and Facebook.groups are effective communication tools available. Groups who meet in person or phone/skype could typically meet once a month.

 I will deal with how to select the right people for your Mastermind Group in a next article