How to Create and Run a MasterMind Group
In Think and Grow Rich!
He came to this conclusion based on “more than twenty years of research based on Hill’s close association with a large number of individuals who managed to achieve great wealth during the course of their lifetimes.” (Wikipedia)
It really is just common sense: How often do you get stuck when trying to solve a problem or come up with ideas yourself? And how often does brainstorming with a person who wants to and is able to think with you result in an “aha” moment—helping you avoid pitfalls or completely change your course based on this brainstorming.
Karyn Greenstreet gave me permission to reprint her helpful article on how to create a MasterMind Group. From other conversations I’ve had, I’ve learned it’s very important to follow these guidelines.
You don’t want people to confuse your group with a pure networking group, intended solely to connect for new business and contacts.
If you have experience running or participating in a group, or want to get involved with one, please comment here.
What is a MasterMind Group?
There is synergy of energy, commitment, and excitement that participants bring to a MasterMind Group. The beauty of MasterMind Groups is that participants raise the bar by challenging each other to create and implement goals, brainstorm ideas, and support each other with total honesty, respect and compassion. MasterMind participants act as catalysts for growth, devil’s advocates and supportive colleagues.
The concept of the MasterMind Group was formally introduced by Napoleon Hill in the early 1900’s. In his timeless classic, "Think And Grow Rich" he wrote about the Mastermind 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 …
"No two minds ever come together without thereby creating a third, invisible
intangible force, which may be likened to a third mind."
In a MasterMind Group, the agenda belongs to the group, and each person’s participation is key. Your peers give you feedback, help you brainstorm new possibilities, and set up accountability structures that keep you focused and on track. You will create a community of supportive colleagues who will brainstorm together to move the group to new heights.
You’ll gain tremendous insights, which can improve your business and personal life. Your MasterMind Group is like having a objective board of directors.
What Will You Get From It?
- Experience, skill and confidence
- Real progress in your business and personal life
- An instant and valuable support network
- A sense of shared endeavor - there are others out there!
- Design things to be the way you want them to be, not as you’ve been told they "should" be
Who Should Attend?
People who:
- have a similar interest (such as a group for self-employed people, or
a group for spiritual thinkers, or a group for people in a certain corporation or industry) - have a similar skill and/or success level
- have the desire and inspiration to make this year extraordinary
- want a supportive team of MasterMind partners
- want to reach or exceed their goals
- are ready to let their desire to be passionate about their life and work overcome their fear of change
How Does It Work?
MasterMind Groups can meet in person, on the telephone, or via online message boards. For those groups that meet in person or on the phone, typically a once-a-month meeting is scheduled.
Because of the group nature, a commitment is required. Look for highly-motivated people who are willing to ask for—and give—help and support.
How Do You Screen Applicants?
Before agreeing to let any new applicants into your group, it’s important to screen them to make sure they’ll fit into the existing group and that their commitment level is high. Decide in advance how many people should be in your group (5-8 is recommended), and only allow new members into the group with the unanimous consent of everyone in the group.
- Do you have a personal or business mission or vision statement?
- What are your five-year goals?
- Where will you find time to participate in the MasterMind Group?
- What is your commitment to moving forward in your business and personal life?
- Why should you be chosen to participate in this group?
Even with a screening process your group is likely to run across people who say that they’re committed but then don’t participate, or who say that they’re honest but then fail to keep the trust of the group.
Be prepared to ask people to leave the group who are not participating up to the group standard and do it quickly once the poor behavior becomes evident. A "slacking" member will bring down the energy and fun level for the whole group.
MasterMind Groups create a win-win situation for all participants. New friendships develop and everyone grows because of the support and encouragement of the MasterMind Group.
Karyn Greenstreet is a Self Employment expert and small business coach. She shares tips, techniques and strategies with self-employed people to boost clarity and focus, create sustainable motivation, and increase sales and profits.Visit her website at www.PassionForBusiness.com
Want to Start a For-Profit Mastermind Group?
Karyn Offers an Instant-Download E-book That Explains It All
[Note from Susie: I have not read the book and am affiliate of Passion for Business.]
There is synergy of energy, commitment, and excitement that participants bring to a Mastermind Group. The beauty of Mastermind Groups is that participants raise the bar by challenging each other to create and implement goals, brainstorm ideas, and support each other with total honesty, respect and compassion. Mastermind participants act as catalysts for growth, devil’s advocates and supportive colleagues.
Learn how creating a MasterMind group will enhance your business and your life.
Karyn Greenstreet has been creating and leading mastermind groups since 1994. Let her show you how to create your own!
Here is what you will learn in this e-book:
- How to give real value
- What fee to charge
- How to create an application and interview
- Creating guidelines for your group
- Marketing your group
- Handing registrations
Ready to get started?
Download the 22-page ebook in PDF format - Just $12.00.
And/or join a teleclass for an interactive lesson in how to run a Master Mind Group
Once You’re Ready to Meet
Here are a few ideas from me (Susie) on useful meeting tools:
- Skype offers conferencing up to 6 people, and if you’re all calling from Skype it’s free.
- Oovoo is a new videoconferencing / instant messaging application that allows for viewing several people’s webcams at once as well as leaving video voicemails. This could be useful.
- Meetup.com may be useful for finding new participants and arranging meetings, although there is fee to set up groups. Make sure to set up a screening process and clearly state the goals of your group when setting it up.
