How to Create a Mastermind Group

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The concept of a mastermind group was first introduced in Napolean Hill's classic book, Think and Grow Rich. The concept is a simple one and yet not enough people do this.

Dr. Hill wrote, "The Master Mind means a mind that is developed through the harmonious cooperation of two or more people who ally themselves for the purpose of accomplishing any given task."

To create a professional mastermind group, you should bring together several people (two to seven members) to meet once a month to discuss your business affairs. It is best to bring each member from a different background. Each member is required to set weekly and monthly goals.

By sharing your business goals with a small, intimate group of peers, you open yourself up to constructive critique and support. Each member is held accountable. The group becomes a valuable place where members share the challenges of their business, while assisting others by providing sound advice and opinion.

I joined a private mastermind group on Facebook and have found the meetings to be beneficial. The group shares information and support via private Zoom video chats. I believe meeting in-person would be most beneficial, but geography shouldn't hold you back.

How to create a mastermind group

If you plan to create your own group, I recommend setting some rules up front. One such rule should insist members attend meetings regularly. Too many absences will result poorly for the other members. Also, privacy is paramount. If information is leaked, it will ruin the group.

Begin each meeting by asking what each member has been working on. Let them do the talking, but limit the amount of time so that everyone gets a turn.

My friend, David Hooper describes this well in his book, The Rich Switch:

"A successful mastermind group will keep your focus on your goals as well as develop ideas on the conditions you can put in place to make sure those goals happen without question. The feedback and support you'll receive from a mastermind group is invaluable."

What about you?

Do you belong to a Mastermind? Would you like to join one? Please leave a comment with your thoughts.

Thank you for sharing.

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