Mastermind Groups and Why You Want to Have One

Mastermind Groups and Why You Want to Have One

Everyone has a mind, it’s one of those amazing pieces of equipment everyone uses. A few people use their mind more efficiently than others. While, some people work and strive to expand their mind, but find that there can be a type of invisible wall that they hit. That wall can be broken, and from there people are able to master that perfect tool of the human brain. The key is to have people who know you, and have different experiences. This way these people are able to help you over the invisible mental wall that was holding you back from your full potential. This technique is called a Master mind, Brain Trust, and many other names.

I heard of masterminds just a couple of years ago. It was a word that was mentioned from time to time and almost had this air of secrecy. Wasn’t too sure as to what it was. I was able to gather that it was something business related and helped with different problems, but never really knew more than that. It had an air of a secret society that made the masons look like the boy scouts. My curiosity was piqued. I wanted to know what is Mastermind? Why do people use it? Could I use it? I found out all these answers. actually very easily. The first thing I found out about mastermind groups is from this video.

What I found out was that, Masterminds have been around for, some say since Jesus walked the earth with his 12 disciples, and I do know that Benjamin Franklin had what would be described as a Mastermind group called the Junto Society. Mastermind groups are used by many people to keep their members focused on their goals and aspirations. Help plan, and troubleshoot business problems, that arise. Yet, also provides a cheering squad for the accomplishments. Mastermind groups help increase profits in ways that you never even imagined. Mastermind groups are, in the opinion of many successful people the keystone to their business’s growth and profitability.

“a mind that is developed through the harmonious co-operation of two or more people who ally themselves for the purpose of accomplishing any given task.” –  Napoleon Hill “The Law of Success”

Become succeessful with a mastermind groupThese Mastermind groups help with differing perspectives.

There is more than one side to a box, so it can take a different view, to see the outside.  Even if you have a member who is not in your industry, they may just have a  solution that could help you out and provide a fresh set of eyes to see the problem differently. With that they will also hold you accountable to fixing the problem and not let you just sit around and not succeed.

Masterminds also give you almost limitless resources.

Your friends in the group will know of different programs, tools, conferences, or people who can help with what ever problem you and/or your business is facing. It is the benefit of having a collection of different thinking minds grouped together for one purpose.

Are there different types of Mastermind groups?

Yes there are 2 different types The “Free” and the “Pay to Play”. Both of these types are very helpful but serve two different purposes. The “Free” is a gathering of your close friends and people that you want to be close friends. May not be quite as formal and the itinerary is possibly a little looser and more room for gab. while the “Pay to Play” version is one where you pay to have access to usually a known expert in a particular field. These types are usually very expensive and very stringent to get into. There is usually an application that has to be filled out and then wait to find out if you are able to get in.

Are Mastermind Groups only for business?

No Mastermind groups can and are used for anything you want success in. Loosing weight? There are Mastermind Groups for that. Getting out of debt? Masterminds come in very handy for saving money, not just making money. You have a problem and need a support group? Then a mastermind group will help you meet and exceed your goals.

What do you need for a mastermind group?

If you have decided to create your own mastermind group you have a few decisions you need to make.

  1. Where are you going to meet? Are your friends able to meet in person or are your members spread out all over the world? You may be able to do a local meet up or you might choose to have a conference call. You will have to find out what works best for you.
  2. How often are you going to meet? Weekly Monthly yearly? I have hear from many people, that the typical frequency is once a week. With those being from all over the country they actually get together once a year. For some face to face planning or other group activities.
  3. Who is going to be in your mastermind? This is a lot more important than what you think. you want people who are just as on fire as you are on making yours and their business’ a success. If you don’t have the right people they can and often will suck the energy right out of your group. So make sure that you don’t drag you good buddy that likes to just play games and has no true aspirations. You may mean well b y hoping to get him out and want to improve himself. but remember you can lead a horse to water but you can not make him drink.

What goes on in a mastermind group?

That was an elusive thing maybe it is because it varies from group to group, or maybe people were just being that protective of their group. Either way, I wanted to know what was inside. Could I replicate the group? After looking a little deeper I tripped over an interview Patt Flynn did. In that interview Patt opened the door wide enough for everyone to see how it is done.

The agenda is

  1. The Meeting starts with everyone stating a positive event that happened in the last week. Everyone shares their “Win”.
  2. In “The Hot Seat”, this is a person who is selected the previous meeting to give 1) A presentation on tip or tool that is being used in their business that will benefit everyone of the group, and/or 2) A problem or issue that the presenter is currently facing
  3. The Hot seat is then given up for discussion among the rest of the group. The co-members are able to present solutions that can help with the current problem, or  talk about the presentation.
  4. Each person of the group then states a plan or goal that is to be accomplished by next meeting.

Now, that is not the only way some people do it. Some groups work in a more equal time span so in a group of three, each person get 20 minutes to talk for an hour long meeting. So, as anything else in life there is always different ways to accomplish the task at hand. The one key that does hold true is use constructive criticism and be ready to receive it yourself without jumping to the offensive. Your friends in the group are there to push you challenge you help you to become better at whatever your mastermind group is about. If you trust them they will trust you andyou will exceed your hopes, goals and dreams.

My group is slowly getting assembled and hopefully start meeting soon


You can get more inspiration and help on Masterminds on LifeHack and learn how Iron Sharpens Iron over at the Art of Manliness

1 comment on “Mastermind Groups and Why You Want to Have OneAdd yours →

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: