The Power of A Mastermind Group

The Power of A Mastermind Group

mastermind

We met up with Mindset Coach Chris Brown just before we left for Chicago and we got round to talking about Mastermind Groups as we were planning to start our very own online private masterminds.

What he advised was that masterminds are so often formed without the full understanding of what they are about. It is not always the person running the mastermind but the participants who expect something different from what it actually is because so many masterminds are really nothing more than “get togethers” without a full understanding of
how a mastermind works.

To quote from Napoleon Hill Laws of Success – The Mastermind

The Master Mind

Lesson 1: Introduction: The concept of The Master Mind, which Dr. Hill defines “as 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.” Hill uses ideas from physics to illustrate the synergy that occurs between like-minded individuals. He also warns of the danger to the master mind group of any single member who thinks negatively. Another key insight from Hill is that knowledge is not power – it is only potential power. He defines power as “…organized knowledge, expressed through intelligent efforts.” The master mind group makes this happen

Chris kindly agreed to write this guest blog post “The Power of A Mastermind Group”

“In a World that seems to be obsessed with breakfast & networking meetings, unfortunately all to many of these ‘get togethers’ are really what I call ‘The Tea & Toast Brigade.” Basically a group of individuals that are predominately small business owners, or one man bands that use it as a pitching fest & or just a way to meet new people, like some sort of dating service.

The Mastermind Group however is a totally different animal all together. In Napoleon Hill’s classic book Think and Grow Rich, there is a story about the “The Ignorant Man who made a Fortune.” Hill tells how multi millionaire Henry Ford was once called “ignorant” in a Chicago newspaper editorial. Ford issued a lawsuit and during the trial was quizzed by the newspaper’s lawyer to see if he was indeed, ignorant. One of the questions asked was how many troops the British sent over to put down the rebellion in the American colonies. Ford had no idea what the answer was and quipped, “I heard that it was a considerably larger number than went back!”

He then said, “I have a row of buttons on my desk, that I can push to summon to my aid, men who can answer any question I desire to ask…So why should I clutter up my mind with general knowledge for the purpose of answering questions, when I have men around me who can supply any knowledge I require?

Ford had a mastermind group not for answering foolish questions, but to help him with every aspect of his business. Also in his group were Thomas Edison & Harvey Firestone, who have all certainly left a massive legacy to The World. While most of us don’t have Ford’s resources, there is no reason why we can’t put together a mastermind group for ourselves. Savvy business people are doing this every day and if you don’t already have one, I hope after this, you will consider putting one together.

What is a Mastermind Group?

A Mastermind group is a group of “action takers.” For me a group between 4 – 6 is the ideal size, who agree to commit time, resources & expertise to one another. Each is committed to the welfare of the members of the group and growth of one another’s business.

My group has a set structure where each member takes turns talking about the good & bad aspects of his or her business for approx 20 minutes, and then we are open for feedback and advice. We are totally committed to & brutally honest to one another, confidentiality is key so that we can speak freely about where we are with our business. In my group we also have a hot seat for anyone of us that has a burning issue they want resolved, in addition one of us get’s to have their business micro analysed every month. The particular member talks about whatever aspect of their business they want help with for up to 45 minutes, then we have an open, laser focused feedback session to offer advice & our take on ways to resolve the issues highlighted. Another very important reason why Mastermind Groups work so well is we ALL take accountability & agree set tasks we will undertake before the next meeting. Napoleon Hill wrote “No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.” It’s like having our own Board of Directors, that offer a totally fresh & original point of view.

How do I get into one?

Don’t wait to be invited start your own group. I do suggest that they are invite only, as you want individuals that take a no excuses approach and are totally commited to being at EVERY meeting.

How do I structure a group?

My meeting takes place once a month & we meet for the whole morning followed by a lunch which all must attend, as the amount of value added advice/ideas that come out of that alone proves invaluable. You do need to keep to time or the meeting will drift off the subject, so a set agenda is important.

A Mastermind group can take your business to a whole new level, you also have the satisfaction of helping others do the same. I cannot emphasize enough the pure magic that can be achieved in a well run, commited group of like minded individuals. Being very heavily involved in Mindset with my clients, I was extremely selective about who I invited to mine, I would urge you to do the same.

Lastly this so called “ignorant man” Henry Ford, according to Forbes magazine 2008 in todays terms had a net worth in the region of $188.1B. Food for thought wouldn’t you say?

By Chris Brown Mindset Coach – Connect with Chris on Linkedin

Download your Copy of Napoleon Hill Laws of Success – Mastermind

This week we begin two private mastermind meetups online – we think Napoleon Hill would approve!

 

The Power of A Mastermind Group

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9 Responses to The Power of A Mastermind Group

  1. beesley says:

    Thank You Paul – we appreciate your comment and you are so right about the book.

  2. Paul says:

    This is a great article and who ever reads this and takes action will surely benefit from this, The book “Think and grow rich” by Napolean Hill holds valuable info and I urge anyone who has not read it to get a hold of a copy and begin to make progress both personally and in business.

  3. Thanks a lot Chris for showing us the power of Mastermind Group. I’m really encouraged & feeling proud the given information. Thanks again.

  4. Great article Chris and some brilliant advice for the format of Mastermind Groups.

    I think MGs also help on another vital level too, in that they offer support to the entrepreneur who can often feel isolated when working alone.

    Our society conditions us to expect to work for someone else for upwards of 40 years and to strive to ‘fit in’, so those of us who dare to be different are often regarded as mavericks or even slightly mad. I bet every person who has quit a ‘traditional’ role to go it alone has met with at least some lack of comprehension or derision. I know I have!!

    Mastermind groups give us the opportunity to meet with other people who share the same ideals and vision as us and whilst you could argue this is just a way of fitting in somewhere else, they do give a great network of support and encouragement. All this on top of the practical help and power of collective thought, which are of immense value.

    Being a successful entrepreneur doesn’t mean you have to do everything yourself or alone. It means that you accept and take responsibility for your success and the journey to get you there. Mastermind Groups are one way of finding the help you need for the areas which are not your speciality. In conventional business you would not expect your finance team to deal with an HR issue, so apply the same logic to your own business and you are much more likely to get great results.

    As Chris says, if you aren’t in a Mastermind Group, join one or start one. The benefits are numerous and you even get to have some fun!

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  6. beesley says:

    Chris – we cannot thank you enough for guest blogging on Mastermind Groups for us. As you know we are passionate about the value they bring to the members of the group. Look forward to seeing you in March – after we attend Andy Harrington’s Speakers University!

  7. Chris Brown says:

    Thank you for comment Manjit 🙂 It is greatly appreciated…I hope the article inspires people to take action & get involved in their own Mastermind Groups, as I cannot recommend them highly enough. When you look at how many networking meetings people attend, I have no hesitation in saying in my eyes one well run & focussed Mastermind meeting is worth a minimum of 10 networking meetings! Chris & Susan, I look forward to meeting up with you both in early March…

  8. beesley says:

    Thank you Manjit for taking the time to leave a comment. You are right Chris is exactly “to the point” Susan

  9. So ‘to the point’ as Chris always is. I love his down to earth practical approach to success. I am privileged and honoured to call him a friend. Thanks Chris xx

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