The Next Big Thing For Business Owners: Mastermind Groups

What Is a Mastermind Group?Author Napoleon Hill made a discovery in his bestseller “Think and Grow Rich” back in 1937 that changed how business is done forever. No, this wasn’t any breakthrough scientific discovery. Just a simple fact – successful people get together to discuss ideas and support each other! Thanks to him, we have today one of the strongest tools of business success – Mastermind Groups. 

Mastermind Groups is the bringing together of knowledge from people with varied goals and challenges but a common spirit of collaboration. They are committed to helping each other achieve success through interaction. 

In this article, we will fill you in on how this simple yet spectacular Mastermind Group can help your holistic development. Read on to discover what keeps the biggest minds in the world ticking. 

How Can A Mastermind Group Help You?

Budding professionals or mid-tier executives may think Mastermind Groups are only for the brass. 

In reality, any individual looking to better themselves should join a Mastermind Group. You could be a life coach, a sales head or just a parent looking to get better at what you do. Here how Mastermind Groups can help you achieve that. 

*Expand Your Network

A survey published by LinkedIn states that 85% of jobs fill up through networking. Irrespective of your line of work, networking matters. Expanding your network increases room for learning. It also throws up business prospects who otherwise wouldn’t even know you exist. 

Mastermind Groups are a great way to break into the web of networking across industries and domains.

*Leverage The Experiences and Learnings of Others

Peer learning is fast, fun, and stress-free. It helps professionals like yourself extend into a peer’s thought pool without inhibition. 

You get a unique perspective on business challenges when your thoughts are stuck in a loop… All this and more just by hopping onto the radar of Mastermind Groups!

*Create a Circle of Trust

“The Only Mistake You Can Make Is Not Asking For Help”

It’s the inner circle in your personal and professional lives that help you get by. Mastermind Groups is that chance to create a professional support system for yourself. It could be asking for help or simply vetting an idea. 

Should you need a listening ear, know that the Mastermind Group will be your safety net. 

*Share Your Own Wisdom and Learning

Wisdom is the reward of experience and should be shared. Mastermind Groups give you a chance to revel in the joy of sharing. This could be experiences, knowledge, or simply a perspective. Your peers will pose various business challenges in this forum. Sharing your learning could make all the difference to them.

*Increases your Accountability and Leadership Qualities

Mastermind Groups not only sharpen your hard skills of problem-solving and business acumen. They also help with softer ones. Communication, compassion, and inclusivity are essential leadership qualities. Mastermind Groups will help you pick these up along the way. 

*A Private Professional Space

Your workplace may give you lasting business relationships and friendships. But you need a professional peer group outside of your office. That’s where Mastermind Groups come in. This forum allows you a guarded professional space. You have the freedom to share professional challenges and obtain guidance without taking that baggage into your workplace. 

*Community Collaboration

“Alone We Can Do So Little; Together We Can Do So Much”

Mastermind Groups are all about collaboration. They bring together a community to help achieve individual and shared goals. That’s a great environment for you to breed in as a professional. If everyone is moving forward together, then success takes care of itself.  

Structure of Mastermind Groups

A Mastermind Group consists of 4-10 people who meet at regular intervals. Each Mastermind Group may have specific criteria for eligibility and membership. This is only to ensure there’s mutual learning and not one-way leverage. Every group can have a unique motive of their own. This will shape the diversity of members in the group. 

You can create a group for politics, philosophy, marketing or just about any domain. The idea is to achieve shared learning. 

How  You Can Create Your Own Mastermind Group

If you are looking to form your own Mastermind Group, here are a few thumb rules to make it work. 

  • Choose like-minded people with diverse skill sets and body of work. These people need to be committed and driven individuals. You need to pull in problem solvers who are looking to evolve that skill and help others develop it. 
  • Decide the meeting frequency and duration of each session. Meeting at least once a week is necessary to maintain group cohesiveness. Duration should be enough for all members to get a chance to share their thoughts. 
  • Set ground rules for each session. Ensure you give each member equal talking time without any interruptions. Decide mutually on the necessity and role of a facilitator
  • Some groups set an agenda while some don’t. Topics to discuss in every meeting are usually decided before the meeting. The need to put in place accountability, reports, and time logs are entirely for you and your team to decide. 
  • Capture key learnings from each meeting along with goals for the next one.

>> Leading Mastermind Groups You Can Draw Inspiration From <<

Here are three Mastermind Groups that have achieved global recognition and admiration. A sneak peek into these accomplished Mastermind Groups2 should tell you just how impactful and penetrative a Mastermind Group can be. 

Let’s understand what make a Mastermind Group a great one. 

  • The Inklings 

Some of the biggest minds in the world of fiction came together to discuss ideas and get feedback from one another. Think the likes of JRR Tolkien and CS Lewis. It couldn’t get any bigger, could it? 

This informal group associated with the University of Oxford met from the 1930s to 1949. They discussed fiction, writing style, poetry, and many other inspiring ideas. What ensued were the masterpieces these legends are known for. 

  • Frank Kern’s Inner Circle 

Frank Kern is the most successful online marketer the world has seen. The King of Online Marketing uses this group to coach leaders and entrepreneurs on the gems of business growth. 

After his success in affiliate marketing, his Inner Circle is one of the most successful Mastermind Groups that doesn’t need to be marketed. 

  • Dean Graziosi and Matt Larson’s Organized Brilliance 

This is by far the most famous mastermind group. The real estate guru Dean Graziosi shares pearls of wisdom on all things real estate. If you are looking to scale never-before-seen profit levels in real estate, his investing and negotiating skills are your guiding light. 

Mastermind Groups give you a chance to create brilliance at your own level and engage peers with similar challenges to discover varied opinions to common problems. It also helps create your own family of peers whose counsel you can trust. Leading Mastermind Groups are proof of how they help successful people across domains.

 If you aren’t able to find a cohesive group, making your own couldn’t be easier. Simply bring together professionals on the same mental wavelength as you. You will see how their experiences will shape your actions. After all, collaborative learning and networking are the need of the hour. As the famous Mastermind saying goes,

“Mastermind Better. Succeed Together”