The concept of the “master mind alliance” was introduced by Napoleon Hill in his book from the 1920s, The Law of Success, and expanded upon in his 1930s book, Think And Grow Rich. While Napoleon Hill called it a “master mind alliance,” it’s been shortened and modernized to “mastermind group.” 

 

Mastermind groups have been around since the beginning of time. Even Benjamin Franklin belonged to such a group, which he called a Junto. But it was Napoleon Hill who explained it clearly and encouraged people to gather together in a structured, repeatable environment for the success of all. Napoleon Hill wrote about the mastermind group principle as:

“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”

 

He continues…

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“No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind [the master mind].” 

 

So...What is a Mastermind Group?

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A mastermind group is a group of peers who meet to give each other advice and support. It’s similar to mentoring, but has several important differences. First, it will have five or six members, instead of being a one-on-one meeting. In a mastermind group, you will both give and receive advice, while in a mentorship, you’ll typically be on the receiving end. 

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Mastermind groups can also involve brainstorming, educational presentations and even discussing personal issues. Many people think of these groups as mastermind classes, but they are not a class. There is no single teacher with a prepared lesson. So what is a mastermind group really? It is a “meeting of the minds” – a place where you can speak the truth and expect it in return. 

 

Benefits of a Mastermind Group

 

The benefits of mastermind groups are vast. In the best groups, members hold each other accountable for their goals – driving each other to reach the highest levels of success. 

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BUILD YOUR NETWORK: 

A quality mastermind group provides you with a peer community who will elevate your life. You’ll be around other driven businesspeople who will energize you to go after your goals. Mastermind groups also share business contacts and provide recommendations and references – a big help if you’re just starting out.

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SHARE YOUR IDEAS:

Whether you’re thinking about starting a business, want to grow your existing one or are starting to think about your exit strategy, a mastermind group is a place to share your ideas and get feedback. A quality mastermind group will brainstorm with you, provide a different perspective and poke holes in your strategies.

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ELEVATE YOUR SKILLS:

An ideal mastermind group brings together businesspeople at different levels of success and with different strengths and weaknesses. This way, each member can lend their strengths to other members of the group and work on their weaknesses. Mastermind groups will help you question your limiting beliefs, face your fears and challenge you to do better, every day.

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GET SUPPORT:

The most important answer to the question, “What is a mastermind group?” is that it’s a resource you can tap into for support, advice and celebration. Mastermind groups are a supportive community who celebrate your successes and understand your failures. They always encourage you to get back up again, and when you do achieve a goal, they’ll be there to celebrate your success.

 

What to Consider Before Joining

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AM I WILLING TO BE HONEST?

At his Business Mastery events, Tony teaches that before you can get where you are going, you must first know where you are. To get value out of your mastermind group, the same concept applies. If you attend with blind confidence, certain that your business is running smoothly and you are making the right choices, you won’t be open to advice. Be humble, realistic and honest about where you are in the business cycle and what you could be doing better.

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WHAT IS MY PURPOSE?

Your purpose is your north star. It guides every decision you make, every action and every goal. To achieve everything you want – in your career and your personal life – you must connect it back to your purpose. How does joining a mastermind group help you fulfill your ultimate purpose in life? Will you grow your business and achieve financial freedom? Will you make new connections that will allow you to give back? Understand your purpose so you can find a mastermind group that is the right match. 

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HAVE I SET RELEVANT GOALS?

Your purpose drives you, but your goals guide you. To benefit from a mastermind group, you must know what you hope to get out of it. This doesn’t mean vague goals like “improve my business” or “learn public speaking.” Set SMART goals like “Grow 30% year over year” or “Give a TEDx Talk in one year.” Like your purpose, these will guide which mastermind group you join. You’ll also want to share them with the group you join so they can help you along your journey. 

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