Do you belong to a Mastermind Group? If not, why not? And if you do, are you gaining all the benefits you should from it, or do you feel the other members of the group are gaining more than you?
The term “Mastermind Group” was coined by Napoleon Hill in his classic book “Think and Grow Rich”. According to Napoleon Hill, when a group of likeminded people come together with the aim of helping each other to improve, it is almost as if a separate, powerful force is created. That force then propels all the members of the group in the direction they have chosen.
If you join the right group and go to the meetings of that group with the right attitude and frame of mind you will gain enormous benefits. Some of those benefits include:
- Accountability, making it much more difficult for you to procrastinate and avoid taking the actions that are necessary in order to achieve your stated goals
- A forum to test ideas before putting them into practice
- A chance to brainstorm and come up with new concepts and new directions
- A chance to work on group projects, sharing the required skills, resources and finance
- Shared ideas from the experience and skills of others, which you would never have thought of on your own
- A support network which will continue to help you even between meetings of the group
- Encouragement from your peers when you face the inevitable setbacks
- More confidence that you are doing the right things
- An ability to think bigger, and achieve bigger goals
- A positive mental attitude, making it much easier to reach your goals
You will notice I have said you need to join the right group. This particularly means the other members of the group should have most, if not all of the following qualities:
- A shared drive and commitment to achieve
- A positive mental attitude
- Open mindedness
- Similar goals
You should also try to find a group of people who are at a similar level to you. They need not all be at exactly the same level, and some variation can be quite healthy. But the differences should not be too extreme. For example, if you are a sole trader with a turnover of £100,000 in a typical year, and all the other members of the group are CEOs of multi-million pound companies, you are unlikely to gain the benefits you are hoping for, even assuming such a group is happy to have you as a member.
You may have spotted I have repeated “a positive mental attitude” in both lists. This is a benefit you will gain if you belong to the right group, but you must also pump yourself up to have that attitude when you attend the meetings. Otherwise you will not only fail to achieve what would otherwise be possible, but also you may find the other members of the group will not want you to remain a member! It is always possible to instil such an attitude in yourself. What is more difficult is maintaining it through the ups and downs, and that is where belonging to the right group will really pay dividends. You will find your group membership makes it easier and easier to maintain this attitude even when things are not going the way you planned.
Do you belong to a Mastermind Group which is giving you the right benefits? If not, what are you going to do about it?
PS You may be interested to know that the following all attributed their success to Napoleon Hill, the “inventor” of Mastermind Groups:
- F W Woolworth
- W M Wrigley (the chewing gum and sweet magnate)
- George Eastman (the inventor of the Kodak camera)
- Robert Dollar (the shipping magnate from Falkirk)
- John Wanamaker (the businessman who pioneered the concept of the department store)
Napoleon Hill had the following to say about the need for Mastermind Groups and other ways of working together:
“Only by working harmoniously in co-operation with other individuals or groups of individuals and thus creating value and benefit for them will one create sustainable achievement for oneself.”
“No man can become a permanent success without taking others along with him.”
If you want to find out more about Napoleon Hill, check out his Wiki page here: