Napoleon Hill first introduced the concept of the Mastermind Group in his book, “Think and Grow Rich” published in 1937 at the end of the Great Depression. Now considered a timeless classic and the most influential book on success ever published, Hill’s book is one of the best-selling books of all time. The author of more than 30 books, Hill was a protégé of industrialist Andrew Carnegie, as well as an informal adviser to Woodrow Wilson and Franklin D. Roosevelt.
The building blocks of a mastermind group focused on achieving success. Through a combination of brainstorming, education, peer accountability and support, the members’ business and personal skills are sharpened. In a group setting that requires commitment, confidentiality, total honesty, respect, and compassion, the participants challenge each other to set and achieve powerful goals. The essence of such groups is grounded in the willingness to both give and receive advice and ideas, to play devil’s advocates and to be supportive of each participant.
Hill defines a mastermind group like this:
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.” He further illustrates this powerful concept, “No two minds ever come together without thereby creating a third, invisible, intangible force, which may be likened to a third mind.”
To completely grasp this concept, it’s just as helpful to understand what a mastermind group is not.
It’s not a class.
While learning and education do both happen, the group’s focus is on brainstorming, accountability, and support. On occasion, a teacher or guest speaker may be invited to share on a particular topic on which the group chooses to gain insight or be better informed. Still, the focus is on the groups’ brainstorming efforts.
It’s not a group coaching.
This is not a facilitator-coaching-a-group type of arrangement, but rather a group’s foundation is based on each member giving and receiving both advice and feedback. Should the facilitator or any member be an expert on a particular subject, of course, that individual will share his/her expertise. But the goal is that conversation will be balanced between all members.
It’s not a networking group.
While the sharing of leads and resources amongst the group members will create ample opportunities for connections to form, the focus of the group is much more in-depth than a simple networking event where you swap business cards.
In the simplest of terms, a mastermind group is merely a meeting of highly motivated individuals who share a common goal and are committed to supporting each other’s growth.
Participation is key as each person shares feedback and contributes to brainstorming new possibilities that will contribute to each member’s growth. The support and accountability factors are crucial as well because they serve to keep members focused and on track. When this community of folks who share common goals and possess the desire to help each other meld, they transform into something both unique and powerful that has the potential to move, both individually and as a group, to new heights.
Next week we’ll delve into how a mastermind group operates and the benefits of participation.
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