Team Building Article from RISMedia
Mastermind Groups Part 2

The Power of Mastermind Groups

Joining or starting a Mastermind Group is a powerful, creative and supportive strategy to implement for your business and personal development.  I highly recommend reading two excellent books that include information about masterminds. 

The first book is the classic by Napoleon Hill, Think and Grow Rich. Chapter 10 is entitled "The Power of the Master Mind."  Hill defines the master mind as "coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose."  Hill also discusses the two characteristics of a master mind - one economic and the other psychic.  The economic advantage is obvious... "Economic advantages may be created by any person who surrounds himself with the advice, counsel, and personal cooperation of a group of men who are willing to lend him wholehearted aid, in a spirit of perfect harmony."  The psychic characteristic deals with the basic understanding that the human mind is a form of energy.  "When a group of individual brains are coordinated and function in harmony, the increased energy created through the alliance becomes available to every individual brain in the group."

The second book I recommend is The Power of Focus: How to Hit Your Business, Personal and Financial Targets with Absolute Certainty by Jack Canfield, Mark Victor Hansen and Les Hewitt.  The authors outline 4 main action steps to make the idea of a mastermind group a reality.

  1. Select the Right People.  Limit the group to 5-6 people.  Choose people who  are likely to create synergy - ambitious, open-minded, goal-oriented individuals who have a positive outlook.
  2. Everyone must make a commitment.  This is critical to the success of the group.  Commitment means showing up physically, mentally and emotionally.  It also means participating and contributing.  The real benefits emerge when there is a high level of trust among the members and an environment that allows everyone to share.
  3. Decide where, when, how often and for how long you want to meet.  Some groups meet weekly others monthly - it's up to all to you. Choose a location where you won't be interrupted or distracted.  Make an agreement to turn off cell phones during your meeting.
  4. What will you talk about?  Here are some considerations and suggestions: Always have an agenda.  Start and stop the meeting on time and stick to the agenda.  Elect and rotate the responsible party for the meeting. Ideas for content include success stories, recent challenges and resolutions, specific topics as it pertains to your business, individual goals, tip/resource of the week.

The key benefits to being a part of a mastermind group include:

  • Mutual support of each other (emotionally, personally, and professionally)
  • Sharing of ideas, information and experiences
  • Continuous self-education
  • Discussion on meaningful topics and challenges
  • Accountability!

Part 2 of the Mastermind post will share more ideas and examples of who and how.