A mastermind group is a permanent group of 5 to 6 people, who meet regularly for the purpose of problem-solving, brainstorming, networking, and generally encouraging and motivating one another.
Napoleon Hill first wrote about mastermind groups in 1937 in the classic “Think and Grow Rich“. All of the world’s richest industrialists have had mastermind groups. It’s one of the things that some of the most successful people credit when they’re asked how they became a millionaire. Andrew Carnegie had a mastermind group. So did Henry Ford. Ford used to meet with thinkers like Thomas Edison and Harvey Firestone.
Logistically, a mastermind group meets regularly, every 2 to 4 weeks (we chose 2) in person, on the phone, or some combination thereof. The group members take turns hosting the meetings.
Our meetings start with a inspirational quote, an insightful comments or a spiritual invocation, provided by whomever is hosting that week’s meeting: something to put us in the right mind frame.
Each person briefly gives an update on what has happened since the last meeting – the goals we’re working towards, or a success one has had since the last meeting.
Next, each person has a turn to use 10 minutes however they see fit. One person keeps track of the time. That person can use the 10 minutes to update everyone on what is going on in their lives, lead a discussion on a particular topic, or ask for everyone’s advice on an issue. Members’ “10 minutes” have been used for everything from brainstorming on a business idea, to asking for advice on a relationship, to leading a discussion on the validity of “scarcity mindset” when making big life decisions (don’t worry – we’ll take you there in time). You can even choose to “donate” some of your time or “borrow” time from someone else when the occasion calls for it. Your 10 minutes can be used however you choose, as long as it is done in the allotted time.
Finally, each person closes with a goal they would like to accomplish before the next meeting.
It is a simple concept that has led to life-changing results in each and every person who joined my particular Mastermind Group over the past two years. Although we are in no way responsible for the invention of the concept of the Mastermind Group, we now feel compelled to share what we’ve learned with as many people as we can reach. It is our hope that you can join us on this exciting journey.
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