Napoleon Hill wrote his groundbreaking book, Think and Grow Rich, talking about how successful people use mastermind groups to up-level their accomplishments and create opportunities for themselves and for others. Maybe you have heard of mastermind groups but are not sure what they are and how you could benefit from them.
What is a mastermind?
Napoleon Hill defines a mastermind as a â€œCoordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.â€
In English, a mastermind group is a group of people who communicate regularly with each other for the purpose of helping each other reach their goals.
Napoleon Hill in his book, he interviewed several wealthy men of the time belonged to masterminds. Andrew Carnegie belonged to a mastermind group, that had about 50 members. He has been quoted saying the he owns the all of his fortune to the power he gained from this group of people. Henry Ford made the same claim he said that success became noticeable after he became close friends with Thomas Edison. Coincidence? Not likely.
They say you are the sum of the 5 people you surround yourself with. Cleary Carnegie and Ford felt very strongly about their masterminds.
I have been part of several masterminds for my business and I have been amazed at how my business has been up leveled just by being surrounded by successful people. These people helped me to outside the box and were committed to reaching not only their own goals, but helping me reach my goals too.
What are the features of a successful mastermind?
Each mastermind has its own individual characteristics, here are some elements that will be in most masterminds.
- A leader. Provides direction and keeps the session in line with the agenda. This person can also provide individual coaching for members outside of the group sessions.
- Member commitment. Because a mastermind group is only as strong as its members, participants must be committed to being active in the group. The success of a group depends on the willingness of each member to work hard not only on his own individual goals, but also on the goals of the other members.
- Most mastermind groups require members to pay a fee to participate. People tend to value what they have invested themselves in. Iâ€™ve seen it time and time again, when you have skin in the game (aka money) you are more likely to focus and take this seriously.
Why do masterminds work?
When highly motivated people join together to reach goals and make things happen, the result is often an up-leveling of success for everyone. Finally, you are not just relying on your own ideas and your own internal motivation. By making yourself vulnerable to the group, you are subjecting yourself to their ideas, their motivation and their accountability.
Your goals become their goals. And their goals become your goals. Sometimes you need to be pushed. Sometimes you canâ€™t see what is in front of you. Sometimes you need someone else believing that you can do something, even when you are beginning to doubt yourself.
And of course, sometimes all it takes is being surrounded by successful people who are high-energy, highly positive and highly motivated to stay in the driverâ€™s seat of their own lives. And if your mastermind sisters see you trying to crawl into the back seat of your own life, they will drag you back and make sure you stay on top of your game.
Who can benefit from a mastermind?
Do you have goals that you want to reach? Then you can benefit from a mastermind group. Perhaps you want to set a goal of working out a certain number of hours each week. Maybe you want to finally get a handle on what you eat, but you arenâ€™t sure where to find the motivation that it takes to break ingrained habits. It could be that if you had a group of people counting on you to show up and be strong for them, you might be stronger for yourself.
A great place to try out the benefits of a mastermind is in the Freedom Collective. All the essential elements are there waiting for you. Harness the power of this decades-old success principal, and get back in the driverâ€™s seat of your life.
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